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Electroactive Polymer Market Size Is Likely To Reach a Valuation of Around USD 1,340.3 Million By 2028

The global electroactive market is expected to reach USD 1,340.3 Million by 2028, according to a new report by Reports and Data. Electroactive Polymers are polymers that change their shape, size or volume on being stimulated to a strong electrical field. Of the several active materials, electroactive polymers have a noticeable presence owing to their large dynamic…

The post Electroactive Polymer Market Size Is Likely To Reach a Valuation of Around USD 1,340.3 Million By 2028 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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The global electroactive market is expected to reach USD 1,340.3 Million by 2028, according to a new report by Reports and Data. Electroactive Polymers are polymers that change their shape, size or volume on being stimulated to a strong electrical field. Of the several active materials, electroactive polymers have a noticeable presence owing to their large dynamic deformation potential, low density, high response speed, and improved resilience.

Application of electroactive polymer materials as actuators of artificial limbs and organs involves significant challenges, such as rejection avoidance, functional compatibility, and ability to meet the stringent requirements that are related to the use of these materials on or in humans. Currently, the electronically activated product appears to be the most applicable as they generate the largest actuation forces and possess the highest robustness.

Electroactive polymers find widespread application in the automotive industry where they are implemented as actuators and sensors. There is an increasing demand for materials that are not only lightweight but are also strong and durable. Automotive manufacturers are putting in efforts to accomplish this by the deployment of modern electroactive polymers in various automotive electronic components, including multiple sensors, accelerometers, and accelerator pedal modules. The high demand for vehicles are likely to boost the product demand in the forecast period.

Electroactive polymers and coatings deliver an increasing and progressive frontier for responsive drug delivery and the design & development of biomedical devices. The product possesses the distinguishing tendency to undergo a change in shape and/or size following electrical current activation. At present, the interest in electroactive polymers extends to use in controlled drug delivery applications as well as applications in biomedical devices and implants.

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Key participants include:

  • 3M
  • Parker Hannifin
  • Polyone
  • Solvay
  • Merck
  • Lubrizol
  • AGFA-Gevaert
  • Novasentis
  • Premix
  • Heraeus

Further key findings from the report suggest

  • By product type, conductive polymers dominated the market in 2018 and is expected to grow at a rate of 6.7% in the forecast period. The high demand for this product type is owing to their use as antistatic materials for transparent displays, commercial displays, and organic solar cells, among others.
  • By activation mode, electronic electroactive polymer contributed to a larger market share in 2018 and is expected to grow at a rate of 6.8% in the forecast period. These are driven by strong electric fields. The electrostatic forces result in an electromechanical change in the shape of the material. Typically they are applied as planar actuators owing to their large in-plane deformations.
  • By application, actuators dominated the market in 2018 and are expected to grow at a rate of 7.3% in the forecast period. The significant advantage of electroactive polymers as actuators is a low power threshold and bio-compatibility for large deformations.
  • North America held the largest market share in 2018 and is expected to grow at a rate of 6.8% in the forecast period. Spiraling expenditure on the development of advanced implant devices and minimally invasive surgeries in the U.S. is anticipated to drive the market demand in the upcoming years.

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For the purpose of this report, Reports and Data have segmented the global electroactive polymer market on the basis of product type, activation mode, application, and region:

Product Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

  • Conductive Polymer
  • Inherently Conductive Polymer
  • Inherently Dissipative Polymer
  • Others

Activation Mode Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

  • Electronic Electroactive Polymer
  • Ionic Electroactive Polymer

Application Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

  • Actuators
  • Sensors
  • Antistatic Packaging
  • Electrostatic Discharge (ESD) Protection
  • Electromagnetic Interference (EMI) Shielding
  • Others

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 Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • MEA
  • Latin America

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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The post Electroactive Polymer Market Size Is Likely To Reach a Valuation of Around USD 1,340.3 Million By 2028 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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