The electroactive polymers market is estimated at USD 3.51 Billion in 2017 and is projected to reach USD 5.12 Billion by 2022, at a CAGR of 7.9% between 2017 and 2022. Mergers & acquisitions and new product launches are the key strategies adopted by the major players to strengthen their footholds in the electroactive polymers market.
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.
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Based on region, the electroactive polymers market has been segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa and South America. The Asia Pacific electroactive polymers market is projected to grow at the highest CAGR during the forecast period. The growth of the Asia Pacific electroactive polymers market can be attributed to the growing demand for ESD protection and EMI shielding applications. The region is witnessing the highest growth due to rapid economic expansion, especially in China and India. Rapid industrialization in this region plays an important role in fueling the demand for electroactive polymers in ESD and EMI protection, consumer electronics, and paints & coatings applications. In this region, the demand as well as manufacture of consumer electronics has increased significantly and is expected to drive the need for electroactive polymers in the near future. The Asia Pacific is expected to be the fastest-growing region of the electroactive polymers market as it is expected to witness heavy investments in R&D, and rapid technological advancements, especially in the electronics industry. Moreover, increase in manufacturing activities combined with the region’s emergence as a cost-effective production hub is expected to drive the electroactive polymers market. These factors are propelling the demand for electroactive polymers in the region.
Parker Hannifin (US) is one of the leading manufacturers of electroactive polymer based sensors and actuators. The company has been focusing on new product launches to maintain its leading position in the electroactive polymers market. For instance, in June 2016, the company launched the SensoNODE High-Strain sensor highlighting EAP technology. SensoNODE High-Strain is prepared with a stretchable polymer which can take precise interpretations and readings for a long period of service life.
Solvay (Belgium), and Merck (Germany) are other major players in the electroactive polymers market. For instance, in January 2016, Solvay completed acquisition of the Ryton PPS (Polyphenylene Sulphide) business from Chevron Phillips Chemical Limited (US). Solvay has bought 2 Ryton PPS resin manufacturing units in Borger, Texas. The acquisition is a part of Solvay’s strategic development into a more specialized solution provider.
In November 2015, Merck (Germany) acquired Sigma-Aldrich (US), which has provided Merck the capability of serving life science clients worldwide through this acquisition with a competent set of products. This acquisition also enhanced the position of the company in the electroactive polymers market.
This report provides a detailed analysis of the electroactive polymers market and segments the same based on type, application, and region. Based on type, the market has been segmented into conductive plastics, inherently conductive polymers, and inherently dissipative polymers. Based on application, the market has been segmented into ESD protection, EMI shielding, actuators, capacitors, batteries, sensors, and others. Based on region, the market has been segmented into Asia Pacific, North America, Western Europe, Central & Eastern Europe, the Middle East & Africa, and South America.
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