Electroactive polymers (EAP) undergo a change in shape and size when applied with an external electric field. The electroactive polymers are readily available, easily manufactured, and lightweight, thereby, are extensively used in various applications such as actuators, sensors, ESD & EMI protection, drug delivery systems, robotics, and others. The growing product demand from the automotive and electronics sector is likely to augment the market growth over the assessment period. Moreover, the increasing biometrics applications for identification and security purposes is anticipated to drive the electroactive polymers market during the forecast period.
Major Key Players:
The global Electroactive Polymer market is witnessing rapid growth primarily driven by growing applications in sensors, actuators, batteries, and others. Parker-Hannifin Corporation, Agfa-Gevaert Group, 3M, The Lubrizol Corporation, NOVASENTIS, INC, Premix, PolyOne Corporation are the leading players in global Electroactive Polymer market. The market is developed by the continuous adoption of market development methods such as merger, product launch, acquisition, and others. The growing demand for the product in electronics and electrical industry due to its excellent conductive properties is likely to surge the market demand during the forecast period 2017-2023.
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Solvay (Belgium), Parker-Hannifin Corporation (U.S.) Agfa-Gevaert Group (Belgium), 3M (U.S.), Merck Sharp & Dohme Corporation (Germany), The Lubrizol Corporation (U.S.), NOVASENTIS, INC (U.S.), Premix (Finland), PolyOne Corporation (U.S.), and Kenner Material & System Co., Ltd (China) among others are some of the prominent players at the forefront of competition in the Global Electroactive Polymer Market and are profiled in MRFR Analysis.
Industry/ Innovation/ Related News:
June 23, 2014 – Parker Hannifin Corporation, one of the leading companies in motion & control technologies, announced the development of new smart sensors and actuators using electroactive polymer technology. The company recently acquired the intellectual property and licenses from Bayer Material Science LLC and its Artificial Muscle Incorporated business unit. This acquisition resulted in the use of AMI’s proprietary smart material technology to improve performance and efficiency of Parker products and services in medical devices, remote monitoring, and industrial systems. Also, it will strengthen Parker’s smart material development capabilities for use in ultra-low power, wired, wireless and disposable sensors and ultra-low power, quiet and lightweight actuators, pumps and valves.
February 19, 2015 – Parker Hannifin Corporation introduced its new Electroactive Polymer Technology under its BioCare Business Unit at the MD&M West tradeshow in Anaheim, California. Electroactive polymer film produced using this technology is around fraction of millimeter thick and is a stretchable and flexible capacitor. These EAP based products are lighter than the traditional technologies and offer tremendous power density, which makes them suitable for battery-operated and weight critical applications.
September 12, 2016 – Parker introduced new product family named SensoNODE™ at this year’s Sensors Midwest conference in Rosemart, which has a line-up of new, innovative products for condition monitoring and diagnostics to improve predictive maintenance across numerous industries such as industrial, medical, and textiles. Apart from the new Bluetooth-powered solutions, Parker pushed its limit for the development of cloud-based wireless sensors, which were expected to be launched in 2017.
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The electroactive polymers market is spanned across five regions: Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa. Among these, Asia Pacific is expected to show a burgeoning growth and is anticipated to be the fastest growing market during the review period. The rapid growth of industries and urbanization is fuelling the growth of the electroactive polymers in the developing countries of Asia Pacific. Moreover, the emergence of the region as a favorable manufacturing hub is further expected to fuel the market growth. Furthermore, augmenting electrical & electronics and automobile sector is further adding to the demand for electroactive polymer in the region. China, India, and Japan are the largest consumers of electroactive polymers in this region. North America is anticipated to be the largest market followed by Europe. The developed end-user industries such as transportation and electronics among others are significantly driving the growth of the market. According to the Statistica, the revenue from consumer electronic sales grew to 339 billion dollars in 2017 from 318 billion in 2016.
The European market is the second largest market mainly driven by the developed electrical & electronics and automobile sector. The growing demand for actuators and sensors in the well-developed automobile industry is anticipated to fuel the market growth in the region. The key countries attributing to this growth are Germany, Italy, and France.
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