Electroactive Polymer Market is expected to reach US$ 6,449.55 million by 2027

Surging Demand for Smart Electronics to Escalate Electroactive Polymer Market Growth

According to our latest market study on “Electroactive Polymer Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Conductive Polymers, Inherently Conductive Polymers, Inherently Dissipative Polymers, Others), and Application (Actuators, Sensors, ESD and EMI Protection, Antistatic Packaging, and Others),” the market was valued at US$ 3,890.00 million in 2019 and is projected to reach US$ 6,449.55 million by 2027; it is expected to grow at a CAGR of 6.6% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

The electroactive polymer market is highly profitable for semiconductor and polymer producers, though the manufacturers would require high initial investment to alter from silicon to polymers. There are several forces that effect the electro-active polymers market. Cost is the most considerable factor prompting the electro-active polymers industry growth. The use of polymers in luminescent and robotics applications is cost-effective than the use of semiconductor and metals materials. The usage of electroactive polymers in the field of biomedicine and biomimetics could help address the global problem of rising healthcare costs.

Developments in science and technology, especially in the electronics and semiconductors sector, have led to the advent of smart polymers that are capable of changing shape when stimulated by current. Smartphone is a key example of smart electronics that use components made from electroactive polymers, such as batteries, capacitors, proximity sensors, fingerprint sensors, and touchscreen sensors. Electroactive polymers also find use in smart computers, laptops, and tablets. With the ongoing research and development activities, companies are likely to come up with the use of electroactive polymers in computers for blind people via braille. Electroactive polymers are being used in electronic devices to expand the character limit while using braille and thus help the visually impaired people in communicating. According to a report by The Insight Partners, the global smart electronics market is expected to register a notable CAGR of ~7% during 2020–2027, thus depicting a strong potential for electroactive polymers in smart electronics.

Lubrizol Corporation; Arkema Group; Solvay S.A.; Parker Hannifin Corp; Celanese Corporation; Avient Corporation; Agfa-Gevaert Group; Kenner Material & System Co., Ltd.; 3M; and Premix Group are among the well-established players in the electroactive polymer market.

Impact of COVID-19 Pandemic on Electroactive Polymer Market

As of March 2021, the US, Brazil, India, Russia, Spain, and the UK are among the worst-affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemical and materials is one the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns because of this outbreak. China is the global hub of manufacturing and largest raw material supplier for various industries. The shutdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various materials. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are suppressing the business collaboration and partnership opportunities. Thus, these factors have been restraining the growth of the chemicals and materials industry, and other markets related to this industry.

Electroactive Polymer Market Breakdown – by Region, 2019

---

Electroactive Polymer Market Size, Analysis by Application & Type -2027

Download Free Sample

---

Electroactive Polymer Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Conductive Polymers, Inherently Conductive Polymers, Inherently Dissipative Polymers, and Others), and Application (Actuators, Sensors, ESD and EMI Protection, Antistatic Packaging, and Others)

The report includes the segmentation of the electroactive polymer market as follows:

Electroactive Polymer Market, by Type

• Conductive Polymers
• Inherently Conductive Polymers
• Inherently Dissipative Polymers
• Others

Electroactive Polymer Market, by Application

• Actuators
• Sensors
• ESD and EMI Protection
• Antistatic Packaging
• Others

Electroactive Polymer Market, by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
• South America
  • Brazil
  • Argentina
  • Rest of South America