Electroactive Polymers Market is anticipated to grow at average CAGR during the forecast period 2024-2032. The global electro-active polymers market is expected to exhibit a CAGR of over 7% during the review period.
Electroactive polymers are also known as EAP. They are a class of polymers that undergo a change in shape and size when an external electrical field is applied to it. The major advantages of electroactive polymers are lightweight, easy manufacturing, and available low cost. Electroactive polymers are extensively used in various applications such as actuators, sensors, ESD & EMI protection, drug delivery systems, robotics, and electrostatic plastics among others.The growing industrialization and urbanization in the developing regions across the globe is expected to boost the market growth during the forecast years. Moreover, the growing demand from the automobile and electronics sector among others is further anticipated to contribute to the growth of the segment.
Among the various product type in electroactive polymers market, inherently conductive polymers were the leading segment of the market in 2016 and are anticipated to witness a burgeoning growth during the forecast years. The growing applications in robotics, coatings, energy harvesting, smart fabrics and pharmaceuticals among others are extensively contributing to the growth of the market. Inherently conductive polymers possess excellent properties such as enhanced transparency, environmental stability, and high processibility. Moreover, the low cost of production is also adding to the growth of the segment. Inherently conductive polymer segment is anticipated to be the fastest growing segment during the given period. On the basis of the application, electrostatic discharge segment accounted for the largest market share in 2016 whereas, the actuator application is projected to be the fastest growing during the forecast period. The growing application in the electrical & electronics and the automobile industry is positively affecting the growth of the segment.
The Global Electroactive Polymers market share by Application
Source: MRFR analysis
Key Players
Some of the prominent players operating in the global electroactive polymers market are Solvay (Belgium), Parker-Hannifin Corporation (U.S.) Agfa-Gevaert Group (Belgium), 3M (U.S.), Merck Sharp & Dohme Corporation (Germany), The Lubrizol Corporation (U.S.), NOVASENTIS, INC (U.S.), Premix (Finland), PolyOne Corporation (U.S.), and Kenner Material & System Co., Ltd (China).
Regional Analysis
The electroactive polymers market is spanned across five regions: Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa. Among these, Asia Pacific is expected to show a burgeoning growth and is anticipated to be the fastest growing market during the review period. The rapid growth of industries and urbanization is fuelling the growth of the electroactive polymers in the developing countries of Asia Pacific. Moreover, the emergence of the region as a favorable manufacturing hub is further expected to fuel the market growth. Furthermore, augmenting electrical & electronics and automobile sector is further adding to the demand for electroactive polymer in the region. China, India, and Japan are the largest consumers of electroactive polymers in this region. North America is anticipated to be the largest market followed by Europe. The developed end-user industries such as transportation and electronics among others are significantly driving the growth of the market. According to the Statistica, the revenue from consumer electronic sales grew to 339 billion dollars in 2017 from 318 billion in 2016.
The European market is the second largest market mainly driven by the developed electrical & electronics and automobile sector. The growing demand for actuators and sensors in the well-developed automobile industry is anticipated to fuel the market growth in the region. The key countries attributing to this growth are Germany, Italy, and France.
Segmental Analysis
The global electro-active polymers market is segmented into product type and application. On the basis of the product type, the market is segmented into conductive polymers, inherently dissipative polymers, inherently conductive polymers, and others. On the basis of the application, the global electroactive polymers is further segregated into actuators, sensors, ESD & EMI protection, antistatic packaging, and others.
Geographical Analysis
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Recent News
In March 2024, Momentive, a material supplier, partnered with Datwyler Group together with BSC Computer, a German computer company, to co-create industrial actuators based on dielectric elastomers. However, this technology was used only in academic circles and research laboratories. The trio laid the ground by working with major clients integration of EAP technology into different applications, such as energy-efficient, lasting linear actuators that are eco-friendly.
June 2023: Arkema showcased its distinctive range of materials during JEC World 2023. Piezotech is an example of electroactive polymers that can be used for advanced technological activities. They have the infinite possibilities enabled by motion or conversion of thermal energy into electricity and vice versa, besides inherit polymer properties like processability, flexibility, lightness & low costs.
January 2023: Solvay announced new Brussels facilities as their relocation from Neder-over-Heembeek headquarters designed and equipped for hosting the Research, Innovation and administration activities. At Haren in Brussels municipality, Solvay’s future HQ site is well endowed with huge research areas and high-performance digital infrastructure besides being highly accessible, thus positioning Solvay's workforce in a modern world-class work environment that fosters greater innovation collaboration.
| Report Attribute/Metric | Details |
| Market Size | 2032 : Significant value |
| CAGR | 2024-2032 : 7% |
| Base Year | 2023 |
| Forecast Period | 2024 to 2032 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Solvay (Belgium), Parker-Hannifin Corporation (U.S.) Agfa-Gevaert Group (Belgium), 3M (U.S.), Merck Sharp & Dohme Corporation (Germany), The Lubrizol Corporation (U.S.), NOVASENTIS, INC (U.S.), Premix (Finland), PolyOne Corporation (U.S.), and Kenner Material & System Co., Ltd (China). |
| Key Market Opportunities | Inherently conductive polymer segment is anticipated to be the fastest growing segment during the given period. |
| Key Market Drivers | The growing applications in robotics, coatings, energy harvesting, smart fabrics and pharmaceuticals among others are extensively contributing to the growth of the market. |
Electroactive Polymers Market Highlights:
Frequently Asked Questions (FAQ) :
Players making a strong impact on the electroactive polymers (EAP) market are Parker-Hannifin Corporation (U.S.) Solvay (Belgium), Merck Sharp & Dohme Corporation (Germany), Agfa-Gevaert Group (Belgium), 3M (U.S.), Premix (Finland), PolyOne Corporation (U.S.), NOVASENTIS, INC (U.S.), The Lubrizol Corporation (U.S.), and Kenner Material & System Co., Ltd (China).
The Asia Pacific region would lead the electroactive polymers (EAP) market in terms of growth.
The electrostatic discharge segment would lead the application-based segmentation of the global electroactive polymers (EAP) market.
Merger, acquisition, product launch, hike in R&D investment, better innovation, collaboration, brand positioning, and others are some of the effective measures that the market players are implementing.
The electroactive polymers (EAP) market has a possibility of getting ahead with 7% CAGR during the forecast period of 2024 to 2032.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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