Electroactive Polymer Market Trends

  • Report ID: 6649
  • Published Date: Nov 06, 2024
  • Report Format: PDF, PPT

Electroactive Polymer Market Trends

Growth Drivers

  • Increasing demand for soft robotics: EAPs are important in the soft robotics field owing to their inherent properties enabling seamless integration into soft actuators that can mimic biological movements. For instance, in August 2020, a group of researchers from Linköping University in Sweden used a specially designed extrusion-based 3D printer to create a set of microactuators for soft micro-robotics. The actuators have 4D capabilities because they are made of an electroactive polymer that, when exposed to an electrical charge, changes shape after printing. Thus, EAPs are becoming necessary to the evolution of soft robotics, transforming automation and human-robot interaction.
  • Advancement in wearable technologies: The growing trend of innovative technology development includes sensor technology miniaturization and connectivity features. In addition, with AI and machine learning, the wearables began to deliver personal insights to individuals with suggestions aligning with one's health. Wearables in healthcare are becoming more popular, creating continuous data collection for improved treatment results. For instance, in August 2022, a group of researchers from Hong Kong University (HKU) created a wearable biosensing platform, Personalised Electronic Reader for Electrochemical Transistors (PERfECT). This platform is designed for digital health monitoring.  

Challenges

  • Material stability and durability: The electroactive polymers undergo degradation due to humidity and temperature fluctuations or exposure to chemicals. Moreover, repeated cycling might have adverse effects on the mechanical properties of these polymers, thus potentially causing fatigue and reduced efficacy. Obstacles related to durability impact both design and production processes and therefore raise a concern regarding end use safety and reliability issues.
  • Performance limitations: Although EAPs have some merits such as low weight, flexibility, and ability to mimic biological movements, most of them exhibit lower actuation speed, force output, and energy efficiency than traditional actuators. In addition, the response time of some EAP materials may not meet the requirements of high-speed applications, such as robotics and active control systems requiring rapid actuation. The operating range of these materials is also limited, complicating the achievement of desired displacements or stable performance under various loads.

Electroactive Polymer Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

4.7%

Base Year Market Size (2024)

USD 5.7 billion

Forecast Year Market Size (2037)

USD 9.9 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:


Author Credits:  Rajrani Baghel


  • Report ID: 6649
  • Published Date: Nov 06, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the electroactive polymer market was over USD 5.7 billion.

The market size for the electroactive polymer market is projected to reach USD 9.9 billion by the end of 2037 expanding at a CAGR of 4.7% during the forecast period i.e., between 2025-2037.

The major players in the market are 3M, Solvay, Premix, Merck, Heraeus, PolyOne, Lubrizol, and more.

In terms of end use, the automotive segment is anticipated to garner the largest market share of 33.3% by 2037 and display lucrative growth opportunities during 2025-2037.

The market in Asia Pacific is projected to account for a prominent share of 37.3% by the end of 2037 and provide more business opportunities in the future.
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