Global Electroactive Polymers Market is expected to reach USD 6.38 billion by 2022. Electroactive polymers are also termed as EAPs. They are a type of elastomer that changes shape or size when stimulated by an electric field. Electronic EAPs comprise dielectric electroactive polymers (DEAPs) and electrostrictive elastomers. They act similar to biological muscle and mimic their mechanism. The electroactive polymer market is estimated to grow at a significant CAGR of 9.7% over the forecast period as the scope and its applications are rising enormously across the globe.
The factors that are playing a major role in the growth of electroactive polymers market are rising use of electrostatic polymers in solar cells and increasing importance due to their piezoelectric, lightweight, and good dielectric properties. However, the impact of these polymers on the environment and strict government policy against use of these polymers are the factors that may restrain overall market growth in the years to come. Electroactive polymer market is segmented based on type, application, and region.
Inherently dissipative polymers (IDPs), conductive plastics, and inherently conductive polymers (ICPs) are the types that could be explored in electroactive polymers in the forecast period. Conductive plastics sector comprises carbon nanotubes, ESD/EMI compounds, carbon/metal fibers, and antistatic additives. On the other hand, inherently conductive polymers (ICPs) sector comprises polynaphthalenes, polythiophenes, polyphenylene sulfides, polyanilines, polyfluorenes, polyacetylenes, and polyphenylenevinylenes (PPV). Inherently conductive polymers (ICPs) sector is estimated to grow at the highest CAGR in the years to come. The reason could be growing demand from electrical & electronics and robotics industries.
The market may be categorized based on applications like sensors, electrostatic discharge (ESD) protection, batteries, electromagnetic interference (EMI) shielding, capacitors, actuators, and others. The actuators sector accounted for the significant market share of electroactive polymers and is estimated to continue its dominance in the years to come. The reason behind the growth of this segment could be their operational efficacy over conventional materials.
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Globally, North America accounted for the significant market share of electroactive polymers and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the presence of key manufacturers in the region and the development of enhanced implant devices. The United States is a major consumer of electroactive polymers in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The aspects that may be ascribed to the growth comprise easy availability of raw materials and rising demand for electronic applications. The developing countries like India and China are the major consumers of electroactive polymers in this region.
The key players of electroactive polymers industry are Agfa-Gevaert NV, Parker Hannifin, 3M, Merck, Celanese, Sumitomo Chemical, Covestro, Optotune, Arkema, KEMET Corporation, and Solvay. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
• Conductive polymers
• Inherently Dissipative Polymers (IDP)
• Inherently Conductive Polymers (ICP)
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Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
• Drainage systems
• ESD and EMI protection
• Antistatic packaging
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2022)
• North America
• The U.S.
• Latin America
• Asia Pacific