Electroactive Polymers Market To Generate Strong Revenue and Competitive Analysis
Electroactive Poymers anticipated to redefine Material Sciences
Electro Active Polymers Market Overview:
Electroactive polymers are those polymers that are influenced by the presence of an electric field. They can change in size or shape when exposed to electric fields. A unique characteristic of electroactive polymers is that they can undergo a large amount of deformation while sustaining large forces. Electroactive polymers (EAP) are highly sought after for their lightweight, durability and conductive properties.
According to the 2017 census, the global market size for electroactive polymers stood at USD 3.71 billion. It is expected to reach a market value of USD 5.12 billion by 2022. The market is anticipated to rise steadily over the forecasted period of 2020-2025 with an expected compounded annual growth rate of 7.9%.
Shift in Market Trends for the EAP Market:
In terms of product, the EAP market is segmented into two parts: inherently conductive polymers and inherently dissipative polymers. Inherently conductive polymers refer to materials like polythiphenes, polyanilines, polypyrroles and polyacetylenes. They are low cost, organic and soluble polymers that show properties similar to other conductive materials like semiconductors and metals.
They are able to change their shape through the interaction, diffusion and motion of their ions and other conjugated substances. The inherently conductive polymer market is set to expand at a rate of 10.5 compounded annual growth rate over the forecast period. Based on segmentation, conductive polymers dominate the market, showing a higher compounded annual growth rate owing to the constant research and development within this sector.
Electro Active Polymers Applications:
The demand for conductive polymers has been increasing across all technological fields. They have applications in robotics, acutators sensors, energy harvesting and electronics. Demand for inherently dissipative polymers was 10.9 KT in 2016 and this segment is also predicted to grow at a steady albeit slower rate that inherently conductive polymers. Inherently dissipative polymers is mainly used as an antistatic additive for packaging of sensitive electronics and plastic parts. It can present dust and electrostatic discharge.
In terms of application, the market is segmented into various categories including electrostatic discharge protection, shielding, electromagnetic intereferences, batteries sensors etc. The application of electroactive polumers in actuators is expected to lead the market in the coming years, this increase in demand is because of the optimised operational efficiency. Moreover EAP has supplanted other materials within industrial applications.
Regional Competitive Mapping:
Asia Pacific is one of the main consumers for EAP and is expected to show the largest growth globally. This is because the main manufacturers and demand for electronic applications in countries like China, South Korea, India and Japan increase exponentially every year. There is also an abundance of raw materials present in this region, attracts many multinational companies to set up their manufacturing plants and production facilities in this region.
One of the major restraints faced by this market is the extraction of raw materials for the manufacturing and production of EAPs. It is an extremely environmentally harmful process to extract these raw materials. Additionally, the waste generated by the manufacturing process is also harmful to the environment, it needs to be properly disposed otherwise it could affect human and animal life surrounding it. Due to this, there are additional costs associated with the disposals of EAPs. The governments of countries have also placed restrictions on the use of raw materials and waste disposal concerning EAPs, which restrict the growth of the EAP market.
One of the major new applications of EAPs is in biomimetics. These are polymers that are made to replicate muscles. This technology is still in the research and trial phase but many machines have been created to replicated animals and plants. An EAP fish called floajet is available in Japan. It was developed by Eamex corporation. EAPs show high flexibility, damage tolerance, resilence and actuation, similar to muscles in human beings and animals. Biomimetics provides a large scope into other pioneering healthcare innovations that can be implemented using biomimetics. Therefore, EAPs serve as a key component within the value chain of the healthcare sector.
Chemical Market Forecast studies the technological segments associated with this market. The growth dynamics and the change in market trends is assessed by this organization. Moreover the supply and demand across various industrial sectors has also been studied via this platform.
Key players of this market:
Some of the key players present in the market are Solvay, Parker Hannifin, Agfa Gevaert, 3M, Merck, Lubrizol, Novasentis, Premix and PolyOne Corporation. These players show high levels of competition amongst each other in terms of price and quality. The growth of their corporations will encourage manufacturers to make better products and technology.
In terms of recent developments, these companies have been involved several corporate actions that influence the market. In March 2017, Parker Hannifin developed PREMIER PBT-225 which is a plastic that offers high performance and hydrolysis resistance. In 2016, they launched SensoNODE, which is a stretchable polymer that can take precise readings and has a long service life. In 2015, Solvay also acquired the Ryton Polyphenylene Sulfide business from Chevron Phillips Chemical Limited. Solvay bought two Ryton PPS resin manufacturing units as well. This purchase has helped the company expand their influence in these regions and provide better innovations and technologies to the market.
