Global Electro Active Polymers Market grow at a CAGR of 7.6% during 2019-2026

The global electro active polymers market was valued at USD 4.12 billion in 2018 and is expected to reach USD 7.31 billion in 2026, growing at a CAGR of 7.6% during the forecast period.

Piezoelectric materials are those materials that are incorporated into a vehicle for a variety of functions. The various devices used in a vehicle are actuators, injectors, and sensors controlling, adjusting and sensing a wide range of systems. This system allows precise, reliable control with repeatability and accuracy even for billions of cycles. The technology allows varied advantages for automotive applications such as performance, fuel economy, and safety, in the vehicle where failure could lead to major problems. In a vehicle the major piezoelectric devices used are airbag sensor, airflow sensor, audible alarms, fuel atomizer, keyless door entry, seat belt buzzers, knock sensors, power generation in tires and so on. Piezoelectric sensors find various applications for the measurement of various processes. The sensors are used for quality assurance, process control, in the machinery & equipment and for research and development purposes. The sensors are successful in many applications including medical, aerospace, nuclear instrumentation, automotive. They are also finding a new application such as mobile phones, wearables and so on.

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Electro active polymers are a field of material that demonstrates large strain in response to electrical fields. These actuators closely emulate the stimulus-response capacities of animal muscle and so are often referred to as artificial muscles. A non-exhaustive list of potential EAP material applications includes biomimetic such as artificial muscles, active catheters, and biomimetic robots, tactile displays such as refreshable braille devices, and unmanned vehicles including aerial, underwater, and aerospace devices.

The inherently conductive polymers segment is expected to grow at the fastest rate, a CAGR of 8.7%, during the forecast period
Based on type, the market has been segmented into inherently conductive polymers, conductive plastics, inherently dissipative polymers, and others. Among these types of electro active polymers, the inherently conductive polymers segment is projected to exhibit the fastest growth in the global market during the forecast period. This growth can be attributed to its several advantageous factors, such as solubility along with its ability of modifying the shape by motion or by diffusion of ions.

Based on application, the actuators segment contributes a major share in the global market
Based on applications, the market has been segmented into actuators, sensors, EMI & ESD shielding, antistatic packaging, and others. In 2018, the actuators segment accounted to register a remarkable share of 31% in the market. This is mainly owing to the increasing application of electro active polymers in actuators, as it possesses operational efficiency over conventional materials. The major advantage actuators is its reliability and they are maintenance-free; therefore, it can be operated billions of times without incurring wear or deterioration.

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Asia Pacific to exhibit the fastest growth in the global market throughout the forecast period
Asia Pacific is projected to witness the fastest growth rate, at a CAGR of 9.2%, in the global electro active polymers market during the forecast period. This growth is mainly attributed to the presence of largest electronic sector in China and Japan. Moreover, the favourable government regulations and the presence of significant number of electro active polymers, is another factor that significantly drives the growth of the market in Asia Pacific.

Company Profiles and Competitive Intelligence
The major players operating in the global electro active polymers market are Solvay S.A. (Belgium), Parker Hannifin Corp. (US), 3M Company (US), Merck KGaA (Germany), The Lubrizol Corporation (US), Novasentis Inc. (US), Premix Group (Finland), PolyOne Corporation (US), Arkema Group (France), and CEDRAT TECHNOLOGIES SA (France), among others.

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This release was published on openPR.