The global smart polymers market size is expected to reach USD 5,730.4 Million in 2028 and register a revenue CAGR of 20.5% over the forecast period, according to a latest report by Reports and Data. Increasing utilization of smart polymers in various end-use industries such as textiles, automotive, biomedical biotechnology, and electrical electronics is expected to drive market revenue growth during the forecast period. Rising importance of smart polymers owing to ability to undergo large physical, reversible or chemical changes in response to small changes in environmental conditions such as temperature, pH, dual-stimuli, phase, and light transition is driving adoption in various fields. Ability of smart polymers to change shape or transparency or color in response to their environment is expected to increase adoption in a variety of end-uses. Their biocompatibility, strength, resiliency, and flexibility are other factors driving their demand in various end-use industries. Increasing research and development activities for development of enhanced and effective smart polymers is expected to augment market growth. Some uses of smart polymers include in sensors and actuators like artificial muscles, biodegradable packaging, production of hydrogels, and in biomedical engineering. Advances in medical devices, cell therapy, and 3D printing for precision medicines is resulting in increasing development of smart polymers in the biomedical field. Smart polymers are ideal for targeted drug delivery, actuator stimuli, gene therapy, protein folders, and enhanced drug delivery.
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Some Key Highlights From the Report
- In March 2021, Nouryon introduced a breakthrough smart-tagged polymer system named LumaTreat, for advanced water treatment. The products are fluorescent monomers that attach on a deposit control agent. The combination of deposit control polymer and fluorescent monomer provide a Smart Tag that accurately measures the free or unused polymer in the water treatment system. The product line can prevent calcium carbonate, calcium phosphate, and other deposits that over time produce scale deposits.
- Chemical structure segment is expected to account for largest revenue share in the global smart polymers market over the forecast period. The chemical structure altering reaction controls the release of the drug, and increasing focus on more efficient drug delivery systems is boosting the revenue growth of this segment.
- Biological stimuli-responsive segment is expected to register robust revenue growth over the forecast period. Introduction into biotechnological applications, which include purification process and protein recombination, is expected to boost popularity of biological stimuli-responsive products.
- Biomedical biotechnology segment is expected to account for a considerably large revenue share in the global smart polymers market. More accurate and programmable drug delivery obtained with the help of smart polymer systems is projected to drive revenue growth of this segment.
- The smart polymers market in North America is expected to account for largest revenue share over the forecast period. Rise in adoption of smart polymers in various applications such as gene therapy, tissue engineering, smart drug delivery systems, and medicine, food, and drug packaging is expected to support market growth in the region during the forecast period.
- Key players in the market report include The Lubrizol Corporation, BASF SE, Covestro AG, Evonik Industries AG, Autonomic Materials, Merck Group, Saudi Basic Industries Corporation (SABIC), Solvay S.A., Nouryon, and NIPPON SHOKUBAI CO., LTD.
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For the purpose of this report, Reports and Data has segmented the global smart polymers market based on structure type, stimulus type, end-use industry, and region:
Structure Type Outlook (Revenue, USD Million; Volume, Kilo Tons, 2018-2028)
- Chemical Structure
- Physiological Structure
Stimulus Type Outlook (Revenue, USD Million; Volume, Kilo Tons, 2018-2028)
- Physical Stimuli-Responsive
- Chemical Stimuli-Responsive
- Biological Stimuli-Responsive
End-use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons, 2018-2028)
- Biomedical Biotechnology
- Electrical Electronics
- Nuclear Energy
Regional Outlook (Revenue, USD Million; Volume, Kilo Tons, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- South Africa
- Rest of MEA
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