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Conductive Polymers Market Key Players, Market Analysis, Share, Trends And Forecast To 2033
Conductive Polymers Market Key Players
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According to The Business Research Company's, The conductive polymers market size has grown strongly in recent years. It will grow from $4.93 billion in 2023 to $5.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to discovery of conductive polymer properties, development of polymer blends and composites, advancements in material science, application in electronic devices, environmental and cost advantages.
The conductive polymers market size is expected to see strong growth in the next few years. It will grow to $7.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to expansion of automotive electronics, focus on sustainability and environmental impact, growth in energy storage solutions, expansion of photovoltaic industry, rise in electronic and electrical applications. Major trends in the forecast period include innovations in electric vehicle technology, enhanced sustainability and eco-friendly solutions, advancements in energy storage solutions, rise in smart textiles and wearables, emergence of 3d printing technology.
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Market Drivers and Trends:
Increasing maritime security threats are expected to propel the conductive polymers market going forward. Maritime security threat refers to any breach of vessel security, both inside and externally. Conductive polymers are employed in maritime security to enhance sensing technologies, providing efficient detection and response mechanisms against potential threats. For instance, in 2023, according to a report by the International Maritime Organization (IMO), a UK-based specialized agency of the UN in charge of controlling shipping, there was an increase in piracy and armed robbery against ships in the Straits of Malacca and Singapore, with the reported number increasing to 72 compared to the 70 incidents documented in 2021. Notably, approximately 81% of the incidents recorded in 2022 involved targeting a moving ship within these straits. Therefore, the increasing maritime security threats are driving the growth of the conductive polymers market.
Technological advancements are a key trend gaining popularity in the conductive polymers market. Major companies in the conductive polymers market are advancing in their new technologies such as electro-rite polymer technology. For instance, in July 2021, Lubrizol, a US-based chemicals company operating in the conductive polymers market, introduced the new Electro-Rite Polymers. It is a technique intended to enhance the functionality of electrodes, separators, and electrolyte components. Electro-Rite polymer technology can improve the formulation of binder slurries, aid in the development of improved anodes and separators, and provide innovative priming capabilities. These polymer advancements are cutting-edge material solutions designed to improve the performance of different battery components.
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Major Key Players of the Market:
The Lubrizol Corporation, Minnesota Mining and Manufacturing Company, Covestro AG, Celanese Corporation, Saudi Basic Industries Corporation, Henkel AG & Co. KGaA, Merck KGaA, Kemet Corporation, Eeonyx Corporation, Rieke Metals LLC, Agfa-Gevaert N.V., Hyperion Catalysis International, MacDermid Inc., PolyOne Corporation, Heraeeus Holding GmbH, ABTECH Scientific Inc., PolyIC GmbH & Co. KG, RTP Company, Polylink Polymers Limited, H.C. Starck, Haydale Graphene Industries plc, Parker Hannifin Corporation, Nitto Denko Corporation, Novasentis Inc., Sun Chemical Corporation, Westlake Chemical Corporation, Premix Oy, Nanoramic Laboratories, Cabot Microelectronics Corporation, Conductive Technologies Inc., Entekno Materials, AGC Chemicals Americas Inc.
Conductive Polymers Market 2024 Key Insights:
• The conductive polymers market size is expected to see strong growth in the next few years. It will grow to $7.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• Surging Consumer Electronics Demand Drives Growth In Conductive Polymers Market
• Technological Advancements Propel In Conductive Polymers Market
• North America was the largest region in the conductive polymers market in 2023
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