Smart Polymer Market to Grow at a High CAGR in Upcoming years

The report titled “Global Smart Polymer Market Research Report- Industry Analysis, Size, Share, Growth, Trends and Forecast” added by offers the market overview, market size, growth trends and future prospects are elaborately covered. The report incorporates the smart polymer market analysis on the basis of type and technology. The report offers details about the drivers, restraints and growing opportunity in the industry.

Smart polymers are high-performance polymers and their properties are environment-dependent. They react to outside stimuli such as pH, temperature, light, electric & magnetic field, biological molecules and ionic components, and experience reversible chemical & physical changes in response. These polymers are either natural or synthetic in nature. Increasing purchasing power in the consumer of emerging economies coupled with rising preference of advanced technologies over conventional ones are major growth drivers, which are anticipated to fuel smart polymer market demand during the next six years. These polymers find promising applications in numerous verticals of the biomedical field such as actuators systems, cell culture support systems, bio-separation devices, tissue engineering frameworks and sensors. The emergence of drug delivery system in order to achieve controlled delivery of medications with a short half-life and a narrow remedial window will further aid in the growth of the market in the near future. Growing adoption of shape memory polymer in the automotive sector for various vehicle subsystems is also expected to propel market growth over the coming years.

Over the past few years, expansion of application scope in numerous fields including medicinal diagnostics, implants, pharmaceuticals and treatments due to properties like compatibility & adaptability are projected to open new growth possibilities in the forthcoming years. However, the high expense of product and huge expenditure on research & development activities are major concerns for the major players, which may hamper market growth during the forecast period. Manufacturers are investing in the development of advance polymeric materials that help in biosensor designing, wound treatment, tissue engineering systems, drug delivery systems and other metabolically controllable systems.

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The global market has been segmented based on type into temperature-responsive polymers, pH-responsive polymers, photo-responsive polymers, magnetically-responsive polymer gels & elastomers, enzyme-responsive polymers, shape memory polymers, smart polymer hydrogels and self-healing polymer systems. The temperature-responsive polymers has accounted for major market share and is expected to grow at the highest CAGR over the forecast period on account of the growing usage in the field of biomaterials and medication delivery systems due to their property to exhibit lower significant solution temperature and an excellent sensitive balance between the hydrophilic & hydrophobic groups in their structure. Furthermore, the market has been segmented based on application into bioseparation, biocatalysts, drug delivery, tissue engineering, medical devices, food packaging, textile, optical data storage, automotive and others. The drug delivery is a leading application segment and is anticipated to witness a double-digit growth in the study period owing to the rising demand in various end-use industries due to its advanced usage techniques and ability to adjust physicochemical properties in the case of any environmental changes.

North America is a major revenue generating market and is estimated to continue its dominance over the forecast period owing to the growing focus on the development of pH-sensitive & temperature polymers. In addition, rising government's initiatives to improve public healthcare systems will further augment the market demand in the region.

The major  key players include Autonomic Materials, Bayer Material Science, High Impact Technology, The Goodyear Tire & Rubber Company, Michelin, Nissan, MacDermid Autotype Ltd., Dow Chemicals, Huntsman and AzkoNobel.

In March 2015, Province of Limburg and the TNO have jointly opened a new international R&D center to develop sustainable, breakthrough polymers materials and application technologies to increase the market penetration.
In Jan 2016, The Lubrizol Corporation's Engineered Polymers business has launched a smart series of thermoplastic polyurethane (TPU), “Estane SMART TPU”. They are specifically designed to concentrate on the rapidly expanding wearable device market.

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