Smart Polymers – A Brief
Smart polymers are considered intelligent materials that are specially characterized by their performance and characteristics. The smart polymers market growth is expected to grow with a CAGR of 12.1% during the forecast period, owing to the increasing economic condition of the developed countries. Smart polymers are also known as stimuli responsive polymers. They can be utilized for a varied purposes in a number of industries. Over the years, the significance of these compounds has doubled. This has resulted in the development of the global smart polymers market.
Major Players Growth Strategies
There are many big brands that have ruled this industry over the last few years. Some of them include, Akina Inc., Evonik Industries, Spintech LLC and Merck Group. The major strategies employed by these players to increase their revenue is to form strategic partnerships and novel product launches.
Smart polymers are basically a distinct type of polymers. Their functions differ from their counterparts. They have the ability to react and modify themselves in accordance to the environment or atmosphere they are placed in. They react to a number of factors like humidity, wavelength, magnetic field, temperature, pH, electric field and intensity of light. When placed amongst any of these, they react in numerous forms like changing their color or transparency, altering their shape, generating higher conductivity or permeability to water.
Smart polymers owing to their peculiar qualities have been used in a number of manufacturing industries. Commonly, they are utilized for making biodegradable packaging and hydrogels. Furthermore, they are also useful in the field of biomedical engineering. Thus, these materials are highly versatile in nature and this characteristic will help them achieve great success in the coming years.
Market Summary
Currently the world is undergoing a period of technological revolutions. Hence, it would be apt to say that the global smart polymers market will experience incredible progress.
There are a number of factors that are behind the development of this market. One of the major growth drivers for the market is the inherent quality of smart polymers. They are resistant, solid, long-lasting and dependable in nature. These features make them the top choice amongst heavy-duty industries. This in turn, fosters the growth of the market.
Another aspect that boosts the market growth is their varied application. They can be employed for a number of industries like automotive, biotechnology and medicine, drug delivery systems and electrical and electronics.
Additional factors that will drive the market expansion are higher awareness regarding these components and drop in the prices in the long run.
Market Segmentation
The worldwide smart polymers market has been split into three equal parts. They are applications, geographies and stimulus type.
On account of applications, the market has been fragmented into electrical electronics, automotive, biotechnology and medicine and drug delivery systems.
Geographically, the market spans across a numbers of regions like North America, Europe, Asia Pacific, Latin America, Middle East Africa and Rest of the World.
The stimulus type segment is further trifurcated into biological, physical and chemical responsive polymers. Each of these divisions is subdivided. The biological responsive polymer portion is comprised of enzymes-responsive polymers and self-healing polymers. The physical responsive polymers consist of photo-responsive polymers, electroactive magnetically-responsive polymers, thermo-responsive polymers and photo-responsive polymers. The chemical responsive polymers are further divided into pH responsive polymers.
Innovations
There are many innovations that are all set to change to face of the global smart polymers market. The most noteworthy amongst them will be the use of smart polymers in environmental biotechnology. In it, smart irrigation systems will be formulated with the help of these compounds. It would have the capability to turn on and off on its own and it would also control fertilizer concentrations.
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