Electroactive Polymer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Conductive Plastics, Inherently Conductive Polymer, Inherently Dissipative Polymer), Application (Actuators & Sensors, Energy Generation, Automotive Devices, Batteries, Prosthetics, Robotics, and Others) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Market Summary - Electroactive Polymer Market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %

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Market Overview

The market for the electroactive polymer is expected to grow at a CAGR of more than 5.1% globally during the forecast period. Electroactive polymers exhibit a change in size or shape when stimulated by an electric field. The growing electrical and electronics industry has been driving the market growth.

However, the electroactive polymer difficult to extract and often environmentally hazardous Improper disposal of electroactive polymer products may be detrimental to the environment and outbreak of coronavirus across the globe are likely to hinder the growth of the studied market.

The rising significance of biomimetic and counterfeit muscles for taking care of complex medical issues using electroactive polymer is likely to provide opportunities for the electroactive polymer market over the next five years.

North America dominated the market across the globe and Asia-Pacific Expected to be the fastest-growing region over the forecast period.

Scope of the Report

The electroactive polymer market report include:

Type
Conductive Plastics
Inherently Conductive Polymer
Inherently Dissipative Polymer
Application
Actuators & Sensors
Energy Generation
Automotive Devices
Batteries
Prosthetics
Robotics
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Actuators and Sensors to Dominate the Market

  • Actuators and sensors is expected to be the dominating segment due to its wide usage in electrical and electronic components of sensitive electronics and plastic parts owing to its ability to prevent dust attraction and electrostatic discharge.
  • Inherently conductive polymers include materials, such as polythiophenes, polyanilines, polypyrroles, and polyacetylenes. Conductive polymers are used in sensors as these are electronically conductive with relatively high and reversible ion storage capacity.
  • Moreover, these polymers show operational efficiency in the devices when compared with conventional materials.
  • The usage of electroactive polymers provides large electromechanical bending at low voltages. moreover, their soft and flexible structures also help in working efficiently.
  • All the aforementioned factors are expected to drive the electroactive polymer market during the forecast period.
Electroactive Polymer Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region stands to be the largest market for the electroactive polymer. Factors, such as increasing production of electronic devices and changing consumer preference towards miniaturization of daily use consumer electronics and gadgets have been driving the electroactive polymer requirements in the region.
  • China is the world’s largest electronics production base and offers a tough competition to the existing upstream producers, such as South Korea, Singapore, and Taiwan. Electronic products in the country have the highest growth rates in the consumer electronics segment of the market, in terms of demand. With the increase in the disposable incomes of the middle-class population, the demand for electronic products is projected to increase steadily in the future, thereby, driving the market studied.
  • According to the Ministry for Electronics and IT, the electronic products market in India had a total market size of INR 4580 billion (USD 66 billion) and has been registering a CAGR of nearly 5.5 % over the last four years. The National Policy on Electronics 2019 aims to promote domestic manufacturing and export in the entire value-chain of Electronics System Design and Manufacturing (ESDM) to achieve a turnover of INR 26 trillion (USD 400 billion) by 2025.
    • The Government of India has taken several steps for promotion of domestic electronics manufacturing industry and exports from the country. For instance, Modified Special Incentive Package Scheme (M-SIPS) provides 20-25% subsidy for investments in capital expenditure for setting up of an electronics manufacturing facility. So far, 212 projects have been approved with proposed investments of INR 551.82 billion.
  • Hence, all such market trends are expected to drive the demand for electroactive polymer market in the region during the forecast period.
Electroactive Polymer Market Regional Trends

Competitive Landscape

The global electroactive polymer market is partially consolidated in nature. Some of the major companies are Solvay, The Lubrizol Corporation, Parker Hannifin Corp, Premix Group and Piezotech amongst others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Electrical and Electronics Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Environmental Hazard

      2. 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Conductive Plastics

      2. 5.1.2 Inherently Conductive Polymer

      3. 5.1.3 Inherently Dissipative Polymer

    2. 5.2 Application

      1. 5.2.1 Actuators & Sensors

      2. 5.2.2 Energy Generation

      3. 5.2.3 Automotive Devices

      4. 5.2.4 Batteries

      5. 5.2.5 Prosthetics

      6. 5.2.6 Robotics

      7. 5.2.7 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Parker Hannifin Corp

      2. 6.4.2 PolyOne Corporation

      3. 6.4.3 3M

      4. 6.4.4 Kenner Material and System Co. Ltd.

      5. 6.4.5 Solvay

      6. 6.4.6 The Lubrizol Corporation

      7. 6.4.7 Premix Group

      8. 6.4.8 Piezotech (Arkema)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Use of Electroactive Polymer for Biometric and Artificial Muscles

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Electroactive Polymer Market market is studied from 2016 - 2026.

The Electroactive Polymer Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Solvay, Premix Group, The Lubrizol Corporation, Piezotech (Arkema), Parker Hannifin Corp are the major companies operating in Electroactive Polymer Market .

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