Market Overview:
The Electroactive Polymers are flexible elastics that can use to change the size. By applying voltage or external electric force, we can bend them. Electroactive Polymers is otherwise known as EAP. It called polymer because many single units are combined to make a chain-like structure. Most industries are using Electroactive Polymers; in the Indian market, its demand is high.
The Electroactive Polymers use in sensors for their conductive properties. Presently it is used in the application of much-advanced technology ex- In Embedded system, Robotics, Manual robotics, etc. The Electroactive Polymer Market is now playing the role of a growing sector. The rising demand for electronic applications, piezoelectric, engineering products, home electronics appliances, biometric systems, sensor-based products, the EAP Market is also growing.
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EAP is also used in energy storage devices because these polymers can design versatility, high capacity, flexibility, etc. The US is playing the role of a leading player in this market. Most of the key players are from the US. In 2018 the market growth was USD 3.74 Billion, and now it is expecting to grow at higher CAGR by 2026.
Industry News:
The EAP Market is booming day by day. The growth rate, market size, market share, market capitalization, revenue generation, etc. are at the top. The expansion of Inherently Conductive Polymers(ICP) is expecting to reach at CAGR of 10.5% by the forecasting period. In 2017, the EAP Market Estimation was USD 3.51 Billion, which planned to expand USD 5.12 Billion by 2022. The CAGR rate is estimating to reach 7.9% over the 2017 to 2022 period. Many industries prefer to use EAP because of its flexibility properties. The EMI and ESD, which materials are high in the market demand because these are the antistatic material. The growing growth rate will give an exceptional growth rate by 2022.
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Market Segmentation:
It segmented according to its applications, product, features, etc. According to use, the market segregated in electromagnetic Interface (EMI). Fields coming under EMI are: – Actuators, electrostatic discharge (ESD), Shielding, Sensors, batteries, etc. The smartphone users are increasing rapidly, so due to preparing the touchscreen also EAP used. The segmentation is also made into conductive plastics, inherently conductive polymers (ICP), etc. The Actuator polymer uses at the pick, so this polymer is dominating the whole EAP market. It helps to develop the market demand for EAP. The largest market share is coming from the segment of the Actuator application. According to materials ex- Carbon nanotubes, Polyanilines, Polyacetylenes, Polyfluorenes, Polynaphthalenes, etc.
Regional Classification:
Asia Pacific seems to be the largest market for EAP. The highest CAGR is expecting to grow within the forecast period. Many other countries are present in the list ex-China, South Korea, Japan, and India. PORTER, PESTEL, SVOR are the major leading players in the market. The regional scopes of EAP by geographically are North America, Europe, Asia Pacific, Latin America, Middle East & Africa, etc. The other major key players from the US are: – 3M, Merck, Lubrizol, Premix, Polyone, etc.
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