Smart Polymers Market Size & Share, by Type (Physical, Chemical, Biological, and others); Application; End Use; Stimulus - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6247
  • Published Date: Jun 21, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Smart Polymers Market size was over USD 23 Billion in 2023 and is set to cross USD 99 Billion by the end of 2036, growing at more than 6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of smart polymers is estimated at USD 26 Billion.

Sensitivity–responsive polymers, or smart polymers, react even to slight changes in temperature, pH, light, and humidity. It's possible for the fluctuation to be entirely consistent and predictable across the board. These items are commonly used in 3D printing, cell treatment, and medical devices because of their responsiveness. These compounds can also be utilized as proteins, medications, and cell carriers.

Additionally, its physical characteristics, such as injectability and shape memory, make it suitable for use in electrical and electronics as well as biotechnology and medicinal applications. It is projected that each of these reasons would grow the industry.  In the following 70 years, the amount of plastic produced annually has grown by about 230 times, reaching 460 million tonnes in 2019, thus aiding in the market’s growth.


Smart Polymers Market Overview
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Smart Polymers Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising demand for physical stimuli-responsive polymer – The largest portion of the overall market is occupied by physical stimuli-responsive polymer. These materials exhibit high sensitivity to environmental factors like ultrasound variations, changes in electric potential, temperature fluctuations, UV radiation, and magnetic field alterations. The increasing demand for physical stimuli-responsive polymer is anticipated to propel the growth rate of the market.
  • Increasing demand due to favorable properties of smart polymers – Advantageous qualities like flexibility, toughness, resilience, and biocompatibility are present in smart polymers. These polymers are resistant to deterioration and damage. These elements have aided the adoption of smart polymer in critical applications across a multitude of end–user industries.

    Thus, smart materials like phase change materials, smart fabrics, sensors, actuators, and much more are made using smart polymers. The smart polymers market is anticipated to increase as a result of the increasing demand for these goods.
  • Growing usage in the textile applications – When exposed to external stimuli including heat, light, pH, and others, shape memory polymer (SMP) can both fix a programmed shape and revert from a distorted shape to its original permanent shape. By integrating shape memory polymers into the fabric, industrialists have created smart textiles, motivated by this characteristic of the material.

    Many intriguing and enhanced qualities, including comfort, smart controlled drug release, fantasy design, wound measurement devices, smart wetting capabilities, protection against harsh environmental changes, and good aesthetic appeal, are made possible by the insertion of SMPs into the fabric.

    Therefore, it is anticipated that the growing use of smart polymers in smart textile applications will boost market growth because of the previously mentioned aspects. Nowadays, synthetic textiles comprise up to 60% of all textiles used; polyester, the most common type, is derived from the same substance as plastic bottles.

Challenges

  • Associated adverse reactions of smart polymer – The smart polymers market growth rate is anticipated to be limited by the harmful effects on human health that smart polymers can cause during the forecast period. These health risks encompass skin irritation, gastrointestinal disturbances, coughing, and potential kidney damage.
  • Complexity synthesis and manufacturing – The synthesis of smart polymers often involves complex chemical processes and precise control over molecular architecture. This complexity can lead to high production costs and scalability issues. Additionally, maintaining the consistency and purity of smart polymers during large scale manufacturing is challenging, which can affect their performance and reliability.

Smart Polymers Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

6%

Base Year Market Size (2023)

USD 23 Billion

Forecast Year Market Size (2036)

USD 99 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia–Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia–Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Smart polymers Segmentation

Type (Physical, Chemical, Biological, and others)

Physical segment is projected to account for smart polymers market share of more than 35% by the end of 2036. This dominance is driven by their extensive applications across various industries, particularly in biomedical fields such as drug delivery systems, tissue engineering, and medical devices. Physical stimuli–responsive polymers, which react to changes in temperature, light, and mechanical stress, are also pivotal in creating advanced materials for electronics, automotive, and consumer goods. Their versatility, combined with the broad range of potential applications, makes them the leading segment in the market.

Application (Drug Delivery, Tissue Engineering, Stimuli-Responsive Surface, Reversible bio-catalyst, Bio-separation, Protein folding, and Others)

Drug delivery segment in the smart polymers market is predicted to reach USD 1.8 Trillion by 2036. The usage of smart polymer–based drug delivery systems has increased recently due to their enhanced therapeutic efficacy, site–specific drug release, and controlled drug administration.

By responding to external cues like pH or temperature, these devices can transport drugs to the desired location, reducing side effects and improving treatment outcomes. Smart polymer–based drug delivery systems are applied in a number of therapeutic domains, such as diabetes, cancer, and inflammatory diseases. As a culmination of all these factors, the polymeric drug delivery system is evaluated to be around USD 173 billion by 2030.

End-Use (Biomedical & Biotechnology, Textile, Electrical & Electronics, Automotive, and Others)

Biomedical & Biotechnology segment in the smart polymers market is estimated to showcase growth rate of over 14% between 2024 and 2036. The market is expected to increase as smart polymers are increasingly used to produce biocatalysts. When an external stimulus is present, the polymer that is connected to the enzyme undergoes conformational changes that shield it from the outside world and control its activity, functioning as a molecular switch.

This novel behavior makes smart biocatalysts easily removable from a reaction mixture and suitable for repeated usage. Numerous smart polymer–based biocatalysts have been created for use in industrial and biomedical applications. Furthermore, biosensors, biometrics, and nano–electronic devices have all made use of smart polymers. It is projected that the biotechnology sector's increasing growth will propel market expansion. According to the India Brand Equity Foundation, the global biotechnology market is projected to see a rise in the contribution of the Indian biotechnology industry from 3% in 2017 to an estimated 19% by 2025.

Our in–depth analysis of the global market includes the following segments:

            Type

  • Physical
  •  Chemical
  •  Biological
  •  others

            Application

  • Drug Delivery
  •  Tissue Engineering
  •  Stimuli–Responsive Surface
  •  Reversible bio–catalyst
  •  Bio–separation
  •  Protein folding
  •  Others

            End–Use

  • Biomedical & Biotechnology
  •  Textile
  •  Electrical & Electronics
  •  Automotive
  •   Others

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Smart Polymers Industry - Regional Synopsis

North America Market Statistics

North American smart polymers market is predicted to capture revenue share of over 44% by 2036. The growing healthcare industry in conjunction with growing military and defense applications will significantly fuel demand in North America for processing light–sensitive fabrics and camouflage.

Major automakers in the United States manufacture and export automobiles to economies in the Americas, Europe, and Asia–Pacific. The automotive and automobile manufacturing market in the United States was valued at USD 82.6 billion in 2021, according to the National Automobile Dealers Association (NADA). According to the association, sales of new light vehicles should reach 15.4 million units in the US by 2022, a 3.4% rise.

Canada is one of the leading automakers in the world, producing a sizable share of the global vehicle output. Canada produced 1.12 million cars and light vehicles in 2021, a 19% drop from 2020. Canada produces about two million cars and light trucks annually, which makes up a sizeable amount of the global automobile production.

 European Market Analysis

The European region will also encounter huge growth for the smart polymers market during the forecast period owing to cutting–edge techniques & usage in various applications. The market is expected to grow exponentially in Europe, particularly in Germany and France, due to strict government regulations regarding the environment and the use of traditional polymers, as well as an increase in R&D initiatives in the field of nanomedicines.

Germany’s robust automotive industry is a significant consumer s are used in various of smart polymers. These materials are used in various components such as composite tires, fluid shock systems, and airbag sensors, contributing to enhanced performance and safety. The industry’s continuous investments in new technologies and materials is expected to drive further demand. As an instance, BMW declared in March 2023 that carbon fiber composites would be used in the manufacturing of its new iX electric vehicle. This is a big step because it's the first mass–produced vehicle that BMW has employed carbon fiber composites in.

The steady demand for newer and quicker electrical and electronic products is being driven by the electrical and electronics industry's rapid rate of technical innovation, which is increasing the manufacturing of these products in France. With 8.1% of the European market in 2022, France ranked as the second–largest producer of electrical and electronic goods.

In 2020, the United Kingdom's polymer production amounted to 1.67 million tonnes, which is approximately half of its consumption of 3.3 million tonnes. As a result, the UK depends significantly on imported raw materials for its polymer production.

Research Nester
Smart Polymers Market Share
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Companies Dominating the Smart Polymers Landscape

    • BASF SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • The Lubrizol Corporation
    • Evonik Industries AG
    • Clariant AG
    • Croda International plc
    • SMP Technologies Inc
    • Autonomic Materials, Inc.
    • Enovis Corporation
    • Nanoshel LLC

In the News

  • The Lubrizol Corporation subsidiary Lubrizol Life Science Beauty (LLS Beauty), is pleased to present its newest offering: Carbopol® Fusion S–20 polymer, a ground–breaking Carbopol® polymer that raises the bar for sustainability and biodegradability without sacrificing performance
  • BASF SE is adding is adding a new Ultramid® Advanced N grade to its line of polyphthalamides (PPAs). This grade is specifically designed for connectors that have undergone surface mount technology post–processing. The perfect combination of high flowability, durability, and flame retardancy is demonstrated by Ultramid® Advanced N2U40G7. Thus, it makes it possible to miniaturize electronic systems using thin–wall constructions at high power and data throughput.

Author Credits:  Rajrani Baghel


  • Report ID: 6247
  • Published Date: Jun 21, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of smart polymer was over USD 23 billion.

The market size for smart polymer is projected to cross USD 99 billion by the end of 2036 expanding at a CAGR of 6% during the forecast period i.e., between 2024-2036.

The major players in the market are The Lubrizol Corporation, Evonik Industries AG, Clariant AG, Croda International plc, SMP Technologies Inc., Autonomic Materials, Inc., Enovis Corporation, Nanoshel LLC, Airex AG, Mitsui Chemicals, In and others.

The physical segment is anticipated to garner a share/size of 35% during 2024-2036

In the year 2023, the industry size of smart polymer was over USD 23 billion.
Smart Polymers Market Report Scope
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