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 - Global 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.
Market Dynamics
Growing smart fabrics 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.
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 EAPs products may be detrimental to the environment and would ultimately affect the food chain. EAPs 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.
Better surface conductivity
A defect-free and better conductive surface can be developed by using proper doping methods such as metal vapor deposition for manufacturing of EAPs. This would further widen the scope of EAPs applications, including reduction of dust attraction in medical devices and gas sensors. The demand for EAPs is expected to increase in applications, such as electrostatic discharge and antistatic coatings, with better surface conductivity. Hence, these applications are expected to provide huge growth opportunities for the EAPs market in the future.
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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 global companies and investors to set up their production facilities in the region, thereby fueling the growth of the Asia Pacific market.
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