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Smart Polymers Market to generate admirable revenue in the forecast period | key players are BASF, AkzoNobel, FMC Corporation, Advanced Biopolymers AS, Sigma-Aldrich Corporation and Huntsman

12-03-2019 10:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Smart Polymers Market

Smart Polymers Market

Based on type of product, smart polymers market can be classified into chemical, physical biological and biochemical stimuli-based polymers. This classification is done based on the product response to different external stimuli. Physical stimuli based smart polymers held a major chunk of overall smart polymers market in 2016.

The product is sensitive towards external changes in UV radiations, temperature, magnetic field, ultrasound and electric potential. The surge in demand for intelligent materials showing low critical temperatures in biotechnology & biomedical field shall positively influence physical stimuli based products demand. the biological stimuli segment is also anticipated to witness prominent growth in the coming years owing to its extensive usage in biotechnology applications such as protein purification and recombination processes. These are sensitive to receptors and enzymes.

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Global Smart Polymers Market size is slated to witness a significant CAGR in the forecast timeframe. Smart polymers are used across various industries including pharmaceutical, biomedical and many others owing to its versatile properties such as biocompatibility, flexibility, pH sensitivity and stability at micro and macro changes in surrounding.

North America accounted for the largest share in global smart polymers market in 2016 and shall maintain its position over the forecast timeframe. Increasing demand from military and defense applications for camouflage & light sensitive fabrics processing coupled with rising healthcare sector will substantially drive the Smart Polymers Market demand in North America over the next few years.

European countries especially Germany and France are likely to show exponential growth prospects for the smart polymers market on account of stringent government regulations pertaining to environment & usage of traditional polymers and rise in research & development initiatives in nanomedicines sector.

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The prominent share contributors operational in smart polymers market are BASF SE, AkzoNobel, FMC Corporation, Advanced Biopolymers AS, Sigma-Aldrich Corporation and Huntsman. Other companies include Covestro AG, Nexgenia Corporation, Advanced Polymer Materials Inc., Lubrizol Corporation, Acros Organics, Autonomic Materials Inc. and The Dow Chemical Company.

Companies are constantly investing in research & development activities to enhance product properties and make its usage more prevalent in industries other than the aforementioned ones. Autonomic Material Inc. is engaged in smart polymers production, which can adapt and repair themselves post damages caused by any external environment factor.

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