The global smart polymers market size is expected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to use of shape memory polymers in the textile industry is growing, as is the demand for effective medication delivery methods and the development of smart biopolymers.
Smart polymers, also referred as sensory cues polymers or intelligent materials, may be found in both high-tech and common goods. Sensors and actuators such as artificial muscles, oxygenation of blood and also in cardiopulmonary bypass surgery are among their applications, they are widely used in manufacturing of hydrogel, recyclable packaging, and biomedical engineering.
A minor change in humidity, pH, light, or temperature may cause a big change in smart polymer characteristics, and this non-linear response distinguishes them. Smart polymers have an all-or-nothing reaction that is totally predictable, with the change occurring uniformly across the material. They may change their conformation, adhesiveness, or water retention qualities, but they can revert to their original condition once the stimulus is removed.
These biocompatible, strong, robust, and flexible polymers are classed based on their physical properties or the stimuli to which they respond. They may be characterized as reversible gels covalently cross-linked, free linear chain solutions, and polymer chain grafted on a surface based on their physical form.
Smart polymer systems might lead to more precise and customizable medication delivery. Smart polymeric drug delivery systems that may release encapsulated pharmaceuticals at the right time and place of action in response to certain physiological stimuli.
The development of smart polymeric materials with good biocompatibility and adjustability may hasten the advancement of precision medicine, also known as personalized medicine. Precision medicine is a cutting-edge field of health care that is based on a person's clinical, genetic, and environmental conditions. because smart polymeric materials may be created to have very particular features for individuals
Shape memory polymer (SMP) is a type of smart material that can fix in the momentarily programmed shape and return the original shape when exposed to external stimuli. SMPs' unique and extraordinary qualities are being used to create smart textiles by embedding SMP into the fabric.
In December 2021, a team of scientists from the United States' Harvard T.H. Chan School of Public Health and Singapore's Nanyang Technological University NTU Singapore developed a food packing material made of smart polymer that is sustainable, biodegradable, and kills microbes that are harmful to humans. It also has the potential to extend the shelf life of fresh fruit by two to three days.
Ecoatoms, a 4D biomaterials startup, was recently approved into a NASA programme that would utilize technology for commercial suborbital flight experiments. Their approach combines biomaterial and smart polymer biosensor technologies for use in medical devices, pharmaceuticals, and defense applications.
Market Trends, Drivers, Restraints, and Opportunities
- Increased design & synthesis of efficient novel drug delivery systems are expected to drive the market expansion in coming years.
- Growing demand biomedical devices such as artificial bones, artificial teeth, pacemakers, hip and knee replacements are projected to surge the market.
- Rising application of shape memory polymer in the textile industry are anticipated to fuel the market.
- Development of smart biopolymers are expected to boost the market during the forecast period.
- Increased need for efficient drug delivery systems is expected to fuel the market during the forecast period.
- Rising demand for smart polymers for application in healthcare, textile, and other industries is key factors pushing the market growth in the coming years.
- Rapid growth in electrical & electronic industry are major factors boosting the market.
- High cost of technology is expected to hinder the market.
- Disrupted supply chain act as a challenge for the market growth.
- Technological advancements and developments such as smart polymeric materials and others are expected to create a lucrative opportunity for market players.
Scope of the Report
The report on the global smart polymers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Smart Polymers Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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End-user Industries (Electrical & Electronics, Textile, Automotive, Biomedical & Healthcare, and Others), Types (Chemical Stimuli-responsive, Biological Stimuli-responsive, Physical Stimuli-responsive, Self-healing Polymers, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Merck KGaA; Evonik Industries AG; Autonomic Materials; Nouryon, Covestro AG
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Smart Polymers Market Segment Insights
The biomedical & healthcare segment is expected to expand at a rapid pace
In terms of end-user industries, the smart polymers market is segmented into electrical & electronics, textile, automotive, biomedical & healthcare, and others. The biomedical & healthcare displays segment is expected to hold a key share of the market in the coming years due to smart polymeric materials with self-healing, shape memory, and stimuli-responsive behavior are increasingly being exploited. The advantageous features of smart polymers have played a critical role in rising demand for them in precision medicine. Research and development activities in the biomedical sector continue to investigate the mechanisms, formulations, and applications of diverse smart polymeric materials.
The physical stimuli-responsive segment is projected to constitute a key market share
Based on types, the smart polymers market is divided into chemical stimuli-responsive, biological stimuli-responsive, physical stimuli-responsive, self-healing polymers, and others. The physical stimuli-responsive segment is expected to account for a key share of the market during the forecast period owing to Due to significant demand from end-use sectors such as biomedical & biotechnology, automotive, and textiles, this is the most extensively utilized form of smart polymer.
North America is anticipated to dominate the market
On the basis of regions, the smart polymers market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rapid growth of the medical industry also highly advanced in the field of drug delivery.
Segments
The global smart polymers market has been segmented on the basis of
End-user Industries
- Electrical & Electronics
- Textile
- Automotive
- Biomedical & Healthcare
- Others
Types
- Chemical Stimuli-responsive
- Biological Stimuli-responsive
- Physical Stimuli-responsive
- Self-healing Polymers
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the smart polymers market include Merck KGaA; Evonik Industries AG; Autonomic Materials; Nouryon; Covestro AG.
Some of these players are focusing on business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In 2019, Evonik Industries AG announced intentions to build a polyamide 12 (PA12) plant in Marl, Germany, as well as increase its production of transparent polyamides at the Marl Chemical Park.
According to Evonik Industries AG reported, the Smart Materials segment employs around 7,800 employees and generated revenues of approximately EUR 3,2 billion in the fiscal year 2020.
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