The smart polymers market was USD 634.2 Million in 2016 and projected to reach USD 2,071.1 Million by 2022, at a CAGR of 21.9% between 2017 and 2022. Increasing adoption of smart polymers in the automotive and drug delivery sectors, development of smart textiles, and rising need for efficient drug delivery systems is expected to drive the global smart polymers market during the forecast period.
Smart polymers are classified into three types based on the external environmental stimuli to which they respond. The types are physical stimuli responsive polymers, chemical stimuli responsive polymers, and biological stimuli responsive polymers. Physical stimuli responsive polymers type is the most-widely used type of smart polymers due to high demand from end-use industries such as biomedical & biotechnology, automotive, and textiles.
By end-use industry, smart polymers are classified into five segments, namely biomedical & biotechnology, textiles, electrical & electronics, automotive, and others. The biomedical & biotechnology industry is the largest end-use industry for smart polymers. The rising need for highly efficient polymers for the manufacture of effective drug delivery systems and phase separation processes is expected to drive the smart polymers market in this end-use industry during the forecast period.
North America is expected to be the largest market for smart polymers and is also projected to register the highest CAGR during the forecast period. The US is expected to account for the largest share of the market in North America till 2022 and is also expected to be the fastest-growing market for smart polymers during the forecast period.
- Advanced Polymer Materials Inc.
- Akina Inc.
- Basf Se
- Evonik Industries Ag
- Merck Group
- Nei Corporation
- Reactive Surfaces Ltd
- SMP Technologies Inc.
- Spintech Llc
- The Dow Chemical Company
- The Lubrizol Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Smart Polymers Market, By Type
7 Smart Polymers Market, By End-Use Industry
8 Smart Polymers Market, By Region
9 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/82855c/smart_polymers
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