Electroactive polymers market is projected to reach USD 5.12 billion by 2022

The Electroactive Polymers Market is estimated at USD 3.51 in 2017, and is projected to reach USD 5.12 Billion by 2022, at a CAGR of 7.9% from 2017 to 2022. The growth of the electroactive polymers market can be attributed to the increasing demand from the ESD protection, EMI shielding, and actuator applications across the globe.

Browse 78 tables and 35 figures spread through 134 pages and in-depth TOC on Electroactive Polymer Market by Type (Conductive Plastic, Inherently Conductive Polymer, Inherently Dissipative Polymer), Application (ESD Protection, EMI Shielding, Actuators, Capacitors, Batteries, Sensors), and Region – ****** Forecast to 2022″.

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The key players operating in the electroactive polymers market are Solvay (Belgium), Parker Hannifin (US) Agfa-Gevaert (Belgium), 3M (US), Merck (Germany), Lubrizol (US), Novasentis (US), Premix (Finland), and PolyOne Corporation (US), among others.

The actuator application is projected to grow at the highest CAGR between 2017 and 2022

The Electrostatic Discharge (ESD) protection application accounted for the largest share of the electroactive polymers market in 2016. Electroactive polymers are used in various applications, ranging from sensors and actuators for electronic appliances to artificial muscles and motion generating devices. These are steadily replacing traditional polymers as well as metals owing to the unique electrically conductive characteristics. ESD and EMI are the major applications of electroactive polymers. Other applications of electroactive polymers include capacitors, sensors, actuators, batteries, and others. Increased demand from ESD protection, EMI shielding, and actuator applications is expected to supplement the growth of electroactive polymers during the forecast period.

Driver: Growing smart fabric market  

Electromechanical systems such as sensors, actuators, electronics, and power sources can be directly woven into textiles called sensing and actuating microfibers. The flexibility and low cost of EAPs allow them to be used as smart fabrics. Polypyrrole and polyanilines are used in developing smart fabrics. The demand for EAPs in smart fabrics is expected to increase in the near future owing to increased R&D and rapid growth in countries such as the US, Japan, and China. The US is the largest market for smart fabrics. Europe and APAC are also expected to show rapid growth during the forecast period.

Smart fabrics act as multifunctional interactive fabrics, and they have huge scope in disciplines including health monitoring, rehabilitation, ergonomics, sports, and telemedicine. This rapid development in the smart fabrics market plays an important role in driving the demand for EAPs.

Restraint: Environmental impact  

Raw materials used for manufacturing of EAPs are difficult to extract and often environmentally hazardous. One of the major concerns is the disposal of waste generated by EAPs. Improper disposal of EAP products may be detrimental to the environment and would ultimately affect the food chain. EAP manufacturers might witness increased cost related to the disposal of some EAPs, which cannot be disposed through biodegradation. Therefore, the government has enforced stringent regulations on the use of such polymers. The environmental regulations on the use of petroleum products restrict the growth of the EAPs market.

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The Asia Pacific region is the largest market for electroactive polymers across the globe and is projected to grow at the highest CAGR between 2017 and 2022. The growth of the Asia Pacific region can be attributed to the presence of various key manufacturers of electroactive polymers and increasing demand for electronic applications from countries, such as China, South Korea, Japan, and India. Moreover, the easy availability of raw materials in the Asia Pacific region has attracted several ****** companies and investors to set up their production facilities in the region, thereby fuelling the growth of the Asia Pacific market.

 

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