The global
polymer chameleon market is expected to reach USD 1.64 billion by 2025,
according to a new report by Grand View Research, Inc. Growing utilization of
bio-engineered polymeric materials that offers high efficiency and durability
in manufacturing advanced hi-tech end-user products is projected to boost
market demand over the forecast period.
Polymer
chameleon is high-performance polymers showing environment-dependent
characteristics. They react to external stimuli such as temperature, pH, light;
biological molecules, electric & magnetic field, ionic components, and
undergo reversible physical & chemical alterations in response.
These
polymers discover promising applications in many verticals of the molecular and
biomedical areas such as cell culture support systems, actuators systems,
bio-separation devices, sensors, and textile engineering frameworks. The
appearance of drug delivery system to regulate controlled drug-delivery with a
narrow remedial window and short half-life will further fuel the market growth
shortly.
Growing
disposable income, high demand for low fuel combustion & light-weight
vehicles and strict implementation of regulations by the governing bodies such
as EPA and EU has led to increasing demand for engineered polymeric products.
North America occupied the largest market share in 2016 due to the presence of
subsidiaries of a vast number of multinational polymer manufacturing players in
the region.
Companies
such as Akzo Nobel N.V., Evonik Industries AG, BASF SE, and E. I. du Pont de
Nemours and Company have adopted expansion strategies to increase their
presence in the market. Most of the companies have invested in R&D
amenities to discover advanced and innovative special trading nylons &
monomers that are eco-friendly, and extremely sensitive to surrounding with
less utilization of expensive & harmful raw materials.
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Further key findings from the study suggest:
- Smart drug delivery systems & implants broadly prefer utilizing polymer chameleon products due to increasing expansion of application scope in many fields including implants, pharmaceuticals, medicinal diagnostics, and treatments
- Shape memory polymers are expected to witness the fastest growth over the forecast period. The segment is expected to grow at a CAGR of 21.3% by 2025.
- Asia Pacific is projected to increase at the highest CAGR of over 21% on account of the growing demand for shape memory products to manufacture automobile components and thermo-responsive polymers to produce advanced medical and textile engineered products. High demand is witnessed from China, Japan, and India.
- Major companies identified in this industry include Akzo Nobel N.V., Evonik Industries AG, BASF SE, E. I. du Pont de Nemours and Company among others.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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