New Chemistries in Smart Polymers Market to Increasingly Capitalize on Avenues in Biomedical Sector, Market to Clock CAGR of 14% from 2020 to 2030: TMR

ALBANY, N.Y., Dec. 9, 2020 /PRNewswire/ -- The smart polymers market has been expanding steadily on the back of the development of an array of new chemistries in stimuli-responsive, self-healing, and shape memory polymers.

The adoption of smart polymers has been seeing remarkable pace in the automotive and biomedical sectors, state research analysts at TMR. Over the years, substantial research has been made to harness smart polymers in the making of hydrogels, sensors, and actuators. Biomedical engineering is an emerging area with vast untapped opportunities, assert analysts. The rise in utilization of smart polymers in making advanced packaging materials is spurring new opportunities in the smart polymers market. 

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The global market is projected to clock a remarkable CAGR of 14% from 2020 to 2030.

Key Findings of Smart Polymers Market Report

• Of the various application segments, biomedical and biotech was the leading one in 2019
• The global market is expected to touch valuation of US$ 27 Bn by 2030
• Automotive sector is emerging as a highly lucrative one during the forecast period
• Packaging is a promising end-use segment
• Geographically, North America held the major share in the smart polymers market in 2019
• The U.S. held the major share in the North America market in the same year
• Europe is expected to expand at moderate growth rate during 2020 – 2030
• Germany held the major share of the Europe market in the same year
• The global market is highly fragmented and intensely competitive.

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Smart Polymers Market: Key Driving Factors and Promising Avenues

• Investigators and researchers in the smart polymers market are increasingly fabricating polymers to respond to variety of stimuli, such as electric and magnetic fields, pH, temperature, and light intensity.
• Companies are leveraging the strength of new chemistries in the smart polymers market by garnering gains from the application of shape memory polymers.
• Shape memory polymers are used extensively in biomedical engineering. Two of the areas that have gained groundswell of attention are precision medicine and cell therapies.
• Rise in potential of smart polymers in creating new drug delivery methods has added a new growth momentum to the expansion of the smart polymers market. They are made to effect pulsating drug release pattern for a wide spectrum of drug delivery applications, closely mimicking the natural biological release.
• The growing interest of novel drug delivery systems is bolstering the expansion of the market.
• Strides made in the chemistries of smart polymers market are continuously unlocking new prospects in the smart polymers market.
• The growing demand for advanced packaging to retain the freshness and sensory attributed of packaged food is a key driver for new avenues in the smart polymers market.
• Advances made in nanomaterials have enabled players unveil smart polymers for new packaging applications for numerous industries.

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Smart Polymers Market: Regional Landscape

North America led the global market in 2019, where the U.S. was the major country market. Extensive research and development by polymer manufacturers to harness new capabilities for biomedical engineering is underpinning the expansion of opportunities in the regional market. Growing investments in novel drug delivery methods have also boosted the generation of sizable revenue streams in the regional market.          

Europe is expected to see opportunities to expand at moderate pace during 2020 – 2030. Constant focus of players to optimize the properties of smart polymers will continue to drive growth in the regional market. Asia Pacific is a remarkably promising regional market. Growing adoption of smart polymers in biotechnology and automotive sector is spurring the growth prospects in the Asia Pacific smart polymers market.

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Key Strategies Shaping Smart Polymers Market

Numerous local and national players throng the marketspace. The global dynamics is characterized by high degree of competition and fragmentation. Some of the key players in the smart polymers market are Autonomic Materials, Inc., Nanoshel LLC, Airex AG, Spintech Holdings Inc., Covestro AG, Clariant AG, Croda International plc., and Evonik Industries AG.

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Global Smart Polymers Market: Segmentation

Smart Polymers Market, by Type

• Physical Stimuli
• Thermo-responsive
• Photo-responsive
• Pressure-responsive
• Electroactive & Magnetically-responsive Polymers
• Others
• Chemical Stimuli
• Biological Stimuli
• Enzymes & Biomolecules
• Self-healing Polymers
• Others (Including Double & Multi Stimuli Responsive Polymers)

Smart Polymers Market, by Application

• Biomedical & Biotechnology
• Smart Drug Delivery Systems
• Tissue Engineering
• Bioseparation
• Biocatalyst
• Others
• Others
• Textile
• Electricals & Electronics
• Automotive
• Energy & Power

Smart Polymers Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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