Report Code: CMI22445

Published Date: February 2023

Pages: 220+

Category: Chemicals And Materials

Report Snapshot

CAGR: 12.53%
4.08B
2021
4.74B
2022
10.08B
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: North America
Largest Market: Asia-Pacific

Major Players

  • BASF SE
  • The Lubrizol Corporation
  • Evonik Industries AG
  • Croda International plc.
  • Clariant AG
  • Covestro AG
  • Others

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Reports Description

According to Custom Market Insights (CMI), the Global Smart Polymer Market size was estimated at USD 4.08 Billion in 2021 and is expected to reach USD 4.74 billion in 2022 and is expected to hit around USD 10.08 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 12.53% from 2022 to 2030.

Smart polymers are also known as functional polymers and stimuli-response polymers are high-performance polymers that undergo changes according to external environmental factors. For instance, Ista and Lopez employed poly(N-isopropyl acryl-amide) (PNIPAAM), which undergoes rapid and reversible changes in response to external environmental factors such as pH, temperature, climate, light, and among others.

The properties of smart polymers are tough, easy to process, resilient, flexible, and biocompatible. It finds a wide range of applications in various end-use industries such as automotive, electronics, textile, biotechnology, nuclear energy, and many others.

The global smart polymer market is evolving, and companies are now focusing more on strengthening and consolidating R&D activities; thereby increasing the production capacity of the smart polymer, thus driving the market growth by catering to the need for smart polymer in various end-use industries.

Growth Factors.

Technological advancement, upgradation in new product developments, spurring auto components and OEM manufacturing industry, and others have enhanced the performance of smart polymers during the forecast period. Smart polymers are widely employed on the interior, and exterior auto components and mainly involve actuating valves, fiber composites, automated wipers, self-heating bumpers, and others.

In addition, an increase in the production rate of OEM manufacturing devices has also contributed to the growth of smart polymers. For instance, according to a report published by India Brand Equity Foundation, in January 2021, from FY16 to FY20, the automotive components industry registered a CAGR of 6%, reaching US $ 49.3 billion in FY20, with exports growing at a CAGR of 7.6% during FY16 -FY20 to reach US$ 14.5 billion in FY20. This factor is anticipated to enhance the overall demand for smart polymers in the growing automotive industry.

Moreover, the biocompatibility and stability attributes of smart polymers have gained popularity in the biomedical field, where it is used in drug delivery systems, therapeutic agents, tissue engineering scaffolds, cell culture supports, bioseparation devices, sensors or actuator systems, and others. These factors are expected to increase the potential sales of smart polymers in the upcoming years.

The growth of the smart polymer market is driven by the rise in urbanization, an increase in the use of renewable energy, and support from governments of developed & developing nations such as the U.S., India, China, and others.

Furthermore, several key companies are actively engaged in the manufacturing of cost-effective smart polymers where biological and physical stimuli response-based smart polymers are widely employed in various end-use industry. These factors are collectively leading to the high potential growth for smart polymers; thus, offering remunerative opportunities for the market.

Smart Polymer Market Segmentation.

Smart Polymer Market, segmented by Stimulus Type

Depending upon the stimulus type, the smart polymer market is segmented into biological, chemical, and physical.

The physical stimuli segment dominated the market in 2021 and is expected to grow over the forecast period with a total market share of 48.59%. The physical stimuli-based smart polymers are extremely sensitive to external physical factors such as pH, temperature, radiation, light, and others.  Physical stimulus-based smart polymers are extensively used in biomedical & biotechnology sectors owing to their sensitive sensor touch.

This factor is expected to enhance the overall growth of physical stimulus-based smart polymers during the forecast period. In addition, biological and chemical stimulus-based smart polymers are also expected to show significant growth during the forecast period. Biological-based smart polymers are responsive to enzyme, receptors, drugs, and others owing to which it finds applications in chemical, biomedical, and research and development sectors.

Smart Polymer Market, segmented on the basis of Application

Based on application, the global smart polymer market is studied across biomedical & biotechnology, automotive, textile, electrical & electronics, textile, and nuclear energy. It is expected that the global textile segment to hold a dominant position during 2022 – 2030 with a total share of 14.78%.

Factors such as the increasing young population, adoption of western culture, and increasing fashion consciousness among individuals of both developed and developing economies have led the textile sector to witness significant growth where smart polymers, including thermal, moisture, light-responsive polymers, and pH-responsive hydrogels, have been applied to textiles to improve or achieve smart textile functionalities. These factors are projected to grow smart polymer during the forecast period.

Furthermore, the automotive and biomedical sectors have shown significant growth for smart polymers during the forecast period. Smart polymers are extensively used in the automotive industry and are employed predominantly on interior and exterior auto components. In addition, their biocompatibility, stability, and flexibility attributes make them ideal components in the biomedical sector, where it is used in drug delivery systems. This factor is expected to drive the overall demand for smart polymers in the upcoming years.

In addition, an increase in the usage of smart polymers in the sensors and actuators such as artificial muscles, the production of hydrogels, biodegradable packaging, and to a great extent, biomedical engineering purposes has boosted the overall potential sales of smart polymers in upcoming years and offering most lucrative opportunities for the market.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 4.08 Billion
Projected Market Size in 2030 USD 10.08 Billion
Market Size in 2022 USD 4.74 Billion
CAGR Growth Rate 12.53% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Key Segment By Stimulus Type, Application, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
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Regional Analysis

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

North America is the dominant region in the smart polymer market. This region is also anticipated to maintain its dominance throughout the forecast period, with a total market share of 42.78%. Countries such as the U.S., Canada, and Mexico have enhanced the performance of the smart polymers market. In addition growing medical industry, advancements in medical devices, and government support for R&D activities have escalated the potential sales of smart polymers. Biological and physical stimulus-based smart polymers are extensively used in medical devices, and cell culture supports, bioseparation devices, sensors, or actuator systems. This factor is responsible for the growth of the smart polymers market. In addition, the growing automotive and textile industry has positively escalated the demand for smart polymers in the North American region.

Moreover, the Asia Pacific and Europe are also expected to show positive growth in the smart polymers market during the forecast period. This is attributed to the rising population, growing demand for electric vehicles and electronic components, and other end-use industry has surged the demand for smart polymers. Furthermore, the rising use of sustainable and renewable energy, growing industrialization, urbanization, and increase in the demand for electricity has augmented to spur the growth of smart polymers in the sensors and actuators application in the countries such as India, China, Southeast Asia countries, and others.

Global Smart Polymer Market 2022–2030 (By Billion)

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In addition, countries such as Japan and Taiwan are constantly engaged in expanding their electrical & automation manufacturing output, where different types of smart polymers are widely employed as a protecting material in various electrical & electronic products. For instance, according to a report published by Hennessy Funds, Japan accounts for around 30% market for supplying factory automation products in the world. These factors are escalating the demand for smart polymers in the Asia-Pacific region.

Key Development:

In 2019: Evonik Industries AG expanded its polyamide business in Marl, Germany, and also expanded its production of transparent polyamides business with an investment of US$ 475.58 million. The PA12 production facility is anticipated to be operational in the first half of 2021. The new PA12 facility is estimated to increase the company’s overall capacity of PA12 by more than 50%. This strategic business expansion has increased Evonik’s polyamide business in the Europe region.

In November 2018: Covestro AG expanded its polycarbonate in an industrial estate, in Thailand. This business capacity is expected to enhance the demand for polycarbonate films in the Asia Pacific and consolidate its position as a market leader.

Key market players in the Smart Polymer Market

  • BASF SE
  • The Lubrizol Corporation
  • Evonik Industries AG
  • Croda International plc.
  • Clariant AG
  • Covestro AG
  • Spintech Holdings Inc.
  • Airex AG
  • Nanoshel LLC
  • MedShape Inc
  • Autonomic Materials Inc.
  • SMP Technologies Inc.
  • Others

Key Findings:

  • The physical stimulus type segment dominated the market in 2021 and is expected to grow over the forecast period with a total market share of 48.59%.
  • The textile application segment is to hold a dominant position during 2022 -2031 and grow at a CAGR of 14.78% during the forecast period.
  • North America is the dominant region in the nano-metal oxide market and growing at a CAGR of 42.78%.

COVID-19 Analysis

The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses to lives and the economy around the globe.

The smart polymer market has moderate impact due to the wake of the COVID-19 pandemic, owing to the rise in cases of COVID-19, the implementation of emergency protocols and shutdown of various operations and facilities have been observed during 2020.

Due to the spread of the coronavirus pandemic, the manufacturer has faced challenges in terms of operation and supply chain due to government restrictions during the lockdown.

However, the smart polymer market faced several difficulties with material supply chain disruptions, and labor shortages, in 2020.

Furthermore, to control the surge of novel coronavirus cases, there is a drastic shift of investments from other sectors toward the biomedical sector. Also, several smart polymer-based product manufacturing companies have either shut down or shrunk their operations due to the risk of infection among the workforce.

This has temporarily hampered the demand and supply chain of the smart polymer market. In addition, the falling income of customers has led contraction in the demand for electronic components, displays, witches, automotive components, and others during the COVID-19 period.

In the first quarter of 2021, the market for smart polymer has experienced an increase in the demand for smart polymer in automotive, biomedical, electronics, textile, and other end-use industries worldwide, compared to that in 2020.

Global Smart Polymer Market 2022–2030 (By Application)

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Segments covered in the report

By Stimulus Type

  • Physical
  • Chemical
  • Biological
  • Others

By Application

  • Biomedical & biotechnology
  • Automotive
  • Electrical & Electronics
  • Textile
  • Nuclear Energy
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Smart Polymer Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Smart Polymer Market : snapshot
  • Chapter 3. Global Smart Polymer Market – Industry Analysis
    • 3.1 Smart Polymer Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing use of smart polymer in automotive
      • 3.2.2 Biomedical will aid the market growth.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Stimulus Type
      • 3.7.2 Market attractiveness analysis By Application
  • Chapter 4. Global Smart Polymer Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Smart Polymer Market: company market share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Smart Polymer Market – Stimulus Type Analysis
    • 5.1 Global Smart Polymer Market overview: By Stimulus Type
      • 5.1.1 Global Smart Polymer Market share, By Stimulus Type, 2021 and 2030
    • 5.2 Physical
      • 5.2.1 Global Smart Polymer Market by Physical, 2022 – 2030 (USD Billion)
    • 5.3 Chemical
      • 5.3.1 Global Smart Polymer Market by Chemical, 2022 – 2030 (USD Billion)
    • 5.4 Biological
      • 5.4.1 Global Smart Polymer Market by Biological, 2022 – 2030 (USD Billion)
    • 5.5 Others
      • 5.5.1 Global Smart Polymer Market by Others, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Smart Polymer Market – Application Analysis
    • 6.1 Global Smart Polymer Market overview: By Application
      • 6.1.1 Global Smart Polymer Market share, By Application , 2021 and 2030
    • 6.2 Biomedical & biotechnology
      • 6.2.1 Global Smart Polymer Market by Biomedical & biotechnology, 2022 – 2030 (USD Billion)
    • 6.3 Automotive
      • 6.3.1 Global Smart Polymer Market by Automotive, 2022 – 2030 (USD Billion)
    • 6.4 Electrical & Electronics
      • 6.4.1 Global Smart Polymer Market by Electrical & Electronics, 2022 – 2030 (USD Billion)
    • 6.5 Textile
      • 6.5.1 Global Smart Polymer Market by Textile, 2022 – 2030 (USD Billion)
    • 6.6 Nuclear Energy
      • 6.6.1 Global Smart Polymer Market by Nuclear Energy, 2022 – 2030 (USD Billion)
    • 6.7 Others
      • 6.7.1 Global Smart Polymer Market by Others , 2022 – 2030 (USD Billion)
  • Chapter 7. Smart Polymer Market – Regional Analysis
    • 7.1 Global Smart Polymer Market Regional Overview
    • 7.2 Global Smart Polymer Market Share, by Region, 2021 & 2030 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Smart Polymer Market, 2022 – 2030 (USD Billion)
        • 7.3.1.1 North America Smart Polymer Market, by Country, 2022 – 2030 (USD Billion)
    • 7.4 North America Smart Polymer Market, by Stimulus Type, 2022 – 2030
      • 7.4.1 North America Smart Polymer Market, by Stimulus Type, 2022 – 2030 (USD Billion)
    • 7.5 North America Smart Polymer Market, by Application , 2022 – 2030
      • 7.5.1 North America Smart Polymer Market, by Application , 2022 – 2030 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Smart Polymer Market, 2022 – 2030 (USD Billion)
        • 7.6.1.1 Europe Smart Polymer Market, by Country, 2022 – 2030 (USD Billion)
    • 7.7 Europe Smart Polymer Market, by Stimulus Type, 2022 – 2030
      • 7.7.1 Europe Smart Polymer Market, by Stimulus Type, 2022 – 2030 (USD Billion)
    • 7.8 Europe Smart Polymer Market, by Application , 2022 – 2030
      • 7.8.1 Europe Smart Polymer Market, by Application , 2022 – 2030 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Smart Polymer Market, 2022 – 2030 (USD Billion)
        • 7.9.1.1 Asia Pacific Smart Polymer Market, by Country, 2022 – 2030 (USD Billion)
    • 7.10 Asia Pacific Smart Polymer Market, by Stimulus Type, 2022 – 2030
      • 7.10.1 Asia Pacific Smart Polymer Market, by Stimulus Type, 2022 – 2030 (USD Billion)
    • 7.11 Asia Pacific Smart Polymer Market, by Application , 2022 – 2030
      • 7.11.1 Asia Pacific Smart Polymer Market, by Application , 2022 – 2030 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Smart Polymer Market, 2022 – 2030 (USD Billion)
        • 7.12.1.1 Latin America Smart Polymer Market, by Country, 2022 – 2030 (USD Billion)
    • 7.13 Latin America Smart Polymer Market, by Stimulus Type, 2022 – 2030
      • 7.13.1 Latin America Smart Polymer Market, by Stimulus Type, 2022 – 2030 (USD Billion)
    • 7.14 Latin America Smart Polymer Market, by Application , 2022 – 2030
      • 7.14.1 Latin America Smart Polymer Market, by Application , 2022 – 2030 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Smart Polymer Market, 2022 – 2030 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Smart Polymer Market, by Country, 2022 – 2030 (USD Billion)
    • 7.16 The Middle-East and Africa Smart Polymer Market, by Stimulus Type, 2022 – 2030
      • 7.16.1 The Middle-East and Africa Smart Polymer Market, by Stimulus Type, 2022 – 2030 (USD Billion)
    • 7.17 The Middle-East and Africa Smart Polymer Market, by Application , 2022 – 2030
      • 7.17.1 The Middle-East and Africa Smart Polymer Market, by Application , 2022 – 2030 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 BASF SE
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 The Lubrizol Corporation
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Evonik Industries AG
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Croda International plc.
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Clariant AG
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Covestro AG
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Spintech Holdings Inc.
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Airex AG
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Nanoshel LLC
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 MedShape
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Autonomic Materials Inc
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 SMP Technologies Inc.
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
List Of Figures

Figures No 1 to 24

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • BASF SE
  • The Lubrizol Corporation
  • Evonik Industries AG
  • Croda International plc.
  • Clariant AG
  • Covestro AG
  • Spintech Holdings Inc.
  • Airex AG
  • Nanoshel LLC
  • MedShape, Inc
  • Autonomic Materials Inc.
  • SMP Technologies Inc.
  • Others

FAQs

“North America” region will lead the global Smart Polymer market during the forecast period 2022 to 2030.

The key factors driving the market are growing use of smart polymer in automotive and biomedical will aid the market growth.

The key players operating in the Smart Polymer market are BASF SE, The Lubrizol Corporation, Evonik Industries AG, Croda International plc., Clariant AG, Covestro AG, Spintech Holdings Inc., Airex AG, Nanoshel LLC, MedShape, Inc, Autonomic Materials Inc., SMP Technologies Inc.

The global Smart Polymer market is expanding growth with a CAGR of approximately 12.53% during the forecast period (2022 to 2030).

The global Smart Polymer market size was valued at USD 4.08 Billion in 2021 and it is projected to reach around USD 10.08 Billion by 2030.

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