Electroactive Polymers Market- By Types (Inherently Conductive Polymer(ICP), Inherently Dissipative Polymers(IDP), Conductive Plastics) By Application (Organic Light Emitting Diodes(OLED), Capacitors, Batteries, Sensors, Solar Cell, Actuators, Organic/plastic Transistors, Textiles and Fabrics, Electromagnetic Interference (EMI), Electrostatic Discharge (ESD), Antistatic Packaging, Plastics Coated With Electrostatic Paints & Other) - Global Opportunity Analysis and Industry Forecast, 2020

Electroactive Polymers Market held USD 4.36 billion in 2020 and is to grow with a CAGR of 7.5% from 2020-2030. Electroactive polymers are the derivatives of such composites which change their shape or size when exposed to an electric field. Compared to inorganic materials, electroactive polymers consist of features such as inexpensive, lightweight, and easy manufacturing that are more likely to expand the demand along with technological advances in global electroactive polymers industry.

Market Dynamics and Factors:

Electrolyte Polymers are extremely flexible, as they can be rendered in various ways. The increasing importance of ferromagnetic and piezoelectric materials in electronic applications, coupled with increased expenditure on the production of new conductive technologies will be a fuelling electroactive polymers market trend. Electroactive polymers are commonly used in electronic applications which will fuel the electroactive polymers market growth in the industry. During the forecast period the electroactive polymers market growth is expected to rise at the fastest CAGR. Polymers which are inherently conductive include materials such as polyanilines, polythiophenes, polyacetylene, and polypyrroles. ICPs are soluble organic polymers that are low-cost and have electrical properties similar to semiconductors and conductive metals. ICPs are type of ionic electroactive polymers that alter the form of the ions and their conjugated material by motion or diffusion. Globally, the high demand can be attributed to the comprehensive R&D activities being carried out in key countries such as the United States, Canada and Mexico on various potential applications of intrinsically conductive polymers fuelling the electroactive polymers market growth. Demand for intrinsically conductive polymers in the medical, energy processing, and electrical & electronics industries in robots, artificial muscles, actuators & sensors is the highest and is expected to drive the electroactive polymers market share over the forecast period.

Market Segmentation:

Based on the type, the global electroactive polymers market is classified as Inherently Dissipative Polymers(IDP) and Inherently Conductive Polymer(ICP) and Conductive Plastics. On the basis of application, the global electroactive polymers market is bifurcated as Solar Cell,  Capacitors, Batteries, Sensors, Organic Light Emitting Diodes(OLED), Organic/plastic Transistors, Actuators, Electromagnetic Interference (EMI), Textiles and Fabrics, Antistatic Packaging, Electrostatic Discharge (ESD), Plastics Coated With Electrostatic Paints  & Others

Geographic Analysis:

North America is the world leader holding largest electroactive polymers market share, and is expected to continue this trend in the future. Production and demand for electroactive polymers in other regions is increasing at a low pace due to lack of awareness, which in turn attracts many globally influential players as well as demand in North America. Europe, on the other hand, is in second place as regards demand of electroactive polymers market share, led by Asia Pacific. Such regions are experiencing low demand, due to poorer access to the benefits of electroactive polymers. Nonetheless, in the immediate future this pattern is likely to shift as both regions will create more opportunities for the use of electroactive polymers while affecting the electroactive polymers market growth.

Competitive Scenario:

The key players of global electroactive polymers market are Bayer AG, 3M, Parker-Hannifin Corporation, RTP Co., Piezotech S.A, Solvay (Belgium), Merck(Germany), The Lubrizol Corporation, Kenner Material & System.

Electroactive Polymers Market Report Scope