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.
Growth Drivers
Challenges
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 |
|
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 |
|
Application |
|
End–Use |
|
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.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?