A largely fragmented landscape of electroactive
polymers manufacturers implies a high level of competition between
both globally prominent and regional companies. In 2015, the top
three manufacturers of electroactive polymers were PolyOne
Corporation, BASF SE, and Heraeus Deutschland GmbH & Co. KG.
Their collective share in the global market for electroactive
polymers in terms of its value in 2015 was 20.4%, this leaving a
large scope for regional players to try their hand at increasing
market value.
As stated in a new publication by Transparency
Market Research, the differentiation between electroactive polymer
products is very large and allows companies to specialize in certain
products rather than try to produce multiple types. This is more
common among regional players, while globally prominent manufacturers
have the capital to produce multiple electroactive polymers.
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The threat of new entrants into electroactive
polymer production is very high, especially in Asia Pacific where the
concept of electroactive polymers has not caught on yet. This region
holds a very high scale of opportunities in the near future, thus
attracting both global players as well as new regional players to
take up market shares.
The global market for electroactive polymers is
projected at a CAGR of 7.6% within a forecast period from 2016 to
2024. This revenue is expected to reach US$3.15 bn by the end of 2016
and US$5.69 bn by the end of 2024.
North America to Prevail as Leading User of
Electroactive Polymers
Over 80% of the total volume of electroactive
polymers produced annually has gone into producing conductive
polymers. By the end of 2024, this share is expected to settle at
82.7% of the overall market volume.
A key point to consider when looking at the global
use of electroactive polymers is its dependence on the North American
demand. At the moment, North America holds a massive share of total
consumption of electroactive polymers. Two reasons for this are the
market itself being in a nascent stage mostly consolidated in the
U.S., and a very low awareness of the benefits of electroactive
polymers in other regions.
By the end of 2024, a whopping 62.3% of the total
electroactive polymers volume will be utilized within North America.
ESD and EMI Protection Offered by Electroactive
Polymers Considered Leading Advantage for Manufacturers
“The key application of electroactive polymers
lies against the protection of electronic equipment from
electrostatic discharge and electromagnetic interference. With both
ESD and EMI being leading causes of electronic device failure, the
introduction of electroactive polymers as a protective measure has
and will continue to work in the manufacturers’ favor,” states a
TMR analyst.
By the end of 2024, 34.9% of the total
electroactive polymers volume produced will be used in protective
measures against ESD and EMI.
An additional driver for the global demand for
electroactive polymers is the growing demand for lighter materials
that can be used in automotive sensors and actuators. The booming
auto industry is chasing down targets of making cars and commercial
vehicles lighter to improve their performance and cut down emissions.
The use of electroactive polymers is one of the more effective ways
to achieve this target.
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Product Awareness Continues to be an Issue for
Electroactive Polymer Sales
There is, however, still the challenge of low
product awareness that still severely hampers the use of
electroactive polymers on a global level. The manufacture of
electroactive polymers is still at an early stage and mostly
prominent in North America. It will take a much higher rate of
awareness among application industries in APAC and Europe for global
players to make full use of these regions.
The information presented in this review is based
on a Transparency Market Research report, titled, “Electroactive
Polymers Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
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