PUBLISHER: BCC Research | PRODUCT CODE: 1441930
PUBLISHER: BCC Research | PRODUCT CODE: 1441930
The global market for smart polymers is expected to increase from $23.8 billion in 2023 to $54.5 billion by the end of 2028, with a compound annual growth rate (CAGR) of 18.0% during the forecast period of 2023-2028.
European market for smart polymers is expected to increase from $10.0 billion in 2023 to $22.6 billion by the end of 2028, with a CAGR of 17.7% during the forecast period of 2023-2028.
North American market for smart polymers is expected to increase from $7.1 billion in 2023 to $18.1 billion by the end of 2028, with a CAGR of 20.7% during the forecast period of 2023-2028.
The innovative polymer is reactive to physical, chemical and biological stimuli. These include those responsive to changes in pH, temperature, light, mechanical stimuli and self-immolation polymers. Therefore, due to these characteristics of smart polymers, numerous industrial applications have emerged, leading to high growth in the market. This report covers some of the smart polymers' physical, chemical and biological parameters that governments and industries monitor due to their growing technological developments and advancements. This report focuses primarily on smart polymers and their use by end-use industries such as biomedical and biotechnology, building and construction, textile, electrical and electronics, automotive, personal care and cosmetics, packaging and aerospace.
This report on the smart polymers market highlights the strong demand for smart polymers and the technologies that define their differences from regular polymers. New technologies help industries meet regulatory requirements for manufacturing and developing smart polymers. BCC Research analyzed key categories and regions to determine the present and future smart polymers market status and forecasted market growth from 2022 through 2028. This report also discusses market strategies, supply chain structure key players in countries, and driving forces of the market.
The report also features a separate section highlighting the sustainability perspective of the smart polymers market at the global level. This section covers companies' performance on different ESG (environment, social and governance) parameters.
The market size and estimations are provided in terms of value, with 2022 serving as the base year and market forecasts given for the period 2023 to 2028. Regional-level market sizes, with respect to technology and application, are also provided.