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CHEMICALS AND ADVANCED MATERIALS

Polymer Chameleons Market Segmentation by Type (Photochromic, Thermochromic, Solvatochromic, Electrochromic, Piezorochromic, Shape Memory, and Others); by Application (Textile Engineering, Bio-Separation, Automotive and Transportation, Smart Drug Delivery Systems and Implants, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Polymer Chameleons Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Polymer Chameleons Market Highlights 2022 – 2030

The global polymer chameleons market is estimated to garner a sizeable revenue by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing utilization of bio-engineered polymeric materials of high efficiency and durability to manufacture premium quality products, and growing technological advancements in the healthcare sector around the world. Along with these, rising demand for automobiles with light weight and low fuel combustion, coupled with increase in investments to develop hi-tech engineered polymer products are also expected to drive market growth in the upcoming years. In 2010, plastics had no usage in the automotive industries. However, by the end of 2030, plastics use in the industry to manufacture automotive parts is calculated to rise up to 5 percent. Furthermore, the versatility of polymer chameleon makes it highly suitable for several applications, including dynamic configurable parts and reusable custom molds. This is a crucial factor projected to offer profitable growth opportunities to the market in the near future.

polymer chameleons market Graph

The market is segmented by type into photochromic, thermochromic, solvatochromic, electrochromic, piezorochromic, shape memory, and others, out of which, the shape memory segment is anticipated to hold the largest share in the global polymer chameleons market on account of the rising usage of engineered polymers for drug delivery, and increasing applications of shape memory polymers in as a substitute for petroleum based plastics in the automobile industry. Additionally, on the basis of application, the segment for smart drug delivery systems and implants is assessed to grab the largest share during the forecast period, which can be credited to the increasing focus on longer shelf life of products and smart materials in the healthcare sector, rising use of the polymers for customized prostheses, and growing research activities on chameleon polymer regarding specialized applications in drug delivery products. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Polymer Chameleons Market Regional Synopsis

On the basis of geographical analysis, the global polymer chameleons market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific region is estimated to acquire the largest share over the forecast period on the back of the escalating number of applications of polymer chameleon from the textile industry in countries such as India, Japan and China, and robust growth of the medical sector in the region. According to the World Bank, in 2017, the healthcare spending in India was 3.535 percent of the total GDP share, which rose up to 3.544 percent in the year 2018. In addition, high production of penoxsulam in the Asia Pacific region is also predicted to drive market growth in the future. Moreover, the market in Europe is also evaluated to grab a significant share during the forecast period ascribing to favorable regulatory framework by the European Association of Plastics Recycling and Recovery Organizations and strong presence of large multi-national corporations manufacturing polymer-based materials in the region.

The global polymer chameleons market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global polymer chameleons market includes the following segments:

By Type

  • Photochromic
  • Thermochromic
  • Solvatechromic
  • Electrochromic
  • Piezorochromic
  • Shape Memory
  • Others

By Application

  • Textile Engineering
  • Bio-Separation
  • Automotive and Transportation
  • Smart Drug Delivery Systems and Implants
  • Others

Growth Drivers

  • Increasing Advancements in the Healthcare Sector
  • Growing Usage of Advanced Technologies to Manufacture Bio-Engineered Polymeric Materials

Challenges

  • High Cost of Raw Materials

Top Featured Companies Dominating the Market

  • BASF SE
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Merck KGaA
  • Spintech Holdings Inc.
  • Evonik AG
  • SMP Technologies Inc.
  • Automatic Materials, Inc.
  • Akzo Nobel N.V.
  • DuPont de Nemors, Inc.
  • High Impact Technology, LLC
  • LyondellBasell Industries Holdings B.V.

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