NEW YORK, Jan. 17, 2017 /PRNewswire/ -- The global polymer chameleon market is expected to reach USD 1.64 billion by 2025, according to a new report by Grand View Research, Inc. Growing utilization of bio-engineered polymeric materials that offers high efficiency and durability in manufacturing advanced hi-tech end-user products is projected to boost market demand over the forecast period.
Polymer chameleon is high-performance polymers showing environment-dependent characteristics. They react to external stimuli such as temperature, pH, light; biological molecules, electric & magnetic field, ionic components, and undergo reversible physical & chemical alterations in response.
These polymers discover promising applications in many verticals of the molecular and biomedical areas such as cell culture support systems, actuators systems, bio-separation devices, sensors, and textile engineering frameworks. The appearance of drug delivery system to regulate controlled drug-delivery with a narrow remedial window and short half-life will further fuel the market growth shortly.
Growing disposable income, high demand for low fuel combustion & light-weight vehicles and strict implementation of regulations by the governing bodies such as EPA and EU has led to increasing demand for engineered polymeric products. North America occupied the largest market share in 2016 due to the presence of subsidiaries of a vast number of multinational polymer manufacturing players in the region.
Companies such as Akzo Nobel N.V., Evonik Industries AG, BASF SE, and E. I. du Pont de Nemours and Company have adopted expansion strategies to increase their presence in the market. Most of the companies have invested in R&D amenities to discover advanced and innovative special trading nylons & monomers that are eco-friendly, and extremely sensitive to surrounding with less utilization of expensive & harmful raw materials.
Further key findings from the report suggest:
Smart drug delivery systems & implants broadly prefer utilizing polymer chameleon products due to increasing expansion of application scope in many fields including implants, pharmaceuticals, medicinal diagnostics, and treatments
Shape memory polymers are expected to witness the fastest growth over the forecast period. The segment is expected to grow at a CAGR of 21.3% by 2025.
Asia Pacific is projected to increase at the highest CAGR of over 21% on account of the growing demand for shape memory products to manufacture automobile components and thermo-responsive polymers to produce advanced medical and textile engineered products. High demand is witnessed from China, Japan, and India.
Major companies identified in this industry include Akzo Nobel N.V., Evonik Industries AG, BASF SE, E. I. du Pont de Nemours and Company among others.
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