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Global Electroactive Polymers Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Electroactive Polymers Market Is Valued At 3452.70 Million USD In 2017
Electroactive Polymers are polymers that exhibit a change in size or shape when stimulated by an electric field. A typical characteristic property of an EAP is that they will undergo a large amount of deformation while sustaining large forces. In the field of “active materials”, electroactive polymers stand out due to their large active deformation potential, high response speed, low density and improved resilience. They are extremely lightweight, inexpensive, fracture tolerant and compliant.
The global Electroactive Polymers market is valued at 3452.70 million USD in 2017 and is expected to reach 5891.34 million USD by the end of 2024, growing at a CAGR of 7.06% between 2018 and 2024. The global Electroactive Polymers sales volume is valued at 267.7 K MT in 2017 and is expected to reach 446.9 K MT by the end of 2024, growing at a CAGR of 8.92%% between 2018 and 2024.
At present, there are a mass of manufacturers in the market. Major manufacturers in the market are Solvay, 3M, RTP Company, Parker Hannifin, Sumitomo Chemical, etc. Major manufacturers are mainly concentrated in North America, Europe.
As downstream demand grows and technical barriers become less, there will be a huge market space for Electroactive Polymers. To grab more market, the little companies have to expand the technology, capital investment and brand influence. To meet the challenge of little companies and keep their leading stage, leading companies need to increase the technology innovation and speed up the product upgrading. In the future, Electroactive Polymers market will still be a market of fierce competition.
In order to feed the changing technical requirements, Electroactive Polymers manufacturers need to pay attention to the technical innovation. In future, high performance and high durability will be the technology trends of Electroactive Polymers.
The market is not only influenced by the price, but also influenced by the product performance. The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market.
Looking to the future years, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
Despite the presence of competition problems, due to the global recovery trend is slightly, investor are still optimistic about this area; the future will still have more new investment enter the field.
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