(MENAFN- iCrowdNewsWire) Smart Polymers Market 2021|Trends, Growth Trends by Manufacturers, Growth Demand, Opportunities & Forecast 2016-2023
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iCrowdNewswire Jan 9, 2021 5:46 AM ET
BASF SE (Germany), The Lubrizol Corporation (the U.S.), Spintech LLC (the U.S.), Akina, Inc. (the U.S.), SMP Technologies Inc. (Japan), Evonik Industries AG (Germany), Reactive Surfaces Ltd (the U.S.), Merck Group (Germany), NEI Corporation (the U.S.) among others are some of the prominent players at the forefront of competition in the Global Smart Polymers Market and are profiled in MRFR Analysis.
Market Synopsis:
The biological stimuli responsive polymers of the market are expected to demonstrate an escalated growth rate in the market due to its enormous use in various drug delivery systems and biomedical applications. The rising use of polymer products in the automotive industry has boosted the market to witness rapid expansion all through the forecast period. Their resilient, strong, durable and reliable characteristics are widening their application scope.
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Regional Analysis:
North America region accounted largest market share in the global smart polymer market and expected to dominate during the forecast period due to advancement in drug delivery, nanotechnology, nanoscience, and nanomedicine and penetration of end user industry in the region.
Market Segmentation
The market for smart polymers is divided into segments of application and stimulus type. The segmentation on the basis of stimulus type consists of chemical, physical, and biological responsive polymers. Among these segments, the physical stimuli responsive polymers segment leads with a majority share in the market due to its rising use in drug delivery systems, biotechnology and medicine, automotive and others. The emergent technology and ecofriendly nature of the product have encouraged the manufacturers and investors to alter their focus from natural based products to smart polymers in the end use industries. Electrical & electronics, biotechnology and medicine, automotive, drug delivery systems, and others are the segmentations that are a part of the applications segment of the market.
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Competitive Analysis
The improved financial liquidity of the competitors in the market has improved thus providing fresh chances for expansion of the market. The market is very distinct in terms of segments concerning the products as well as the end users that are a part of the market. The market attractiveness and competitors' dynamics are significantly enhanced by the strategies that are being engaged by market players.
Competitive Landscape:
The MRFR studies the key developments adopted by the companies between 2011 and 2016. Players in this market adopted various strategies to expand their footprint and augment their market share. The key strategies followed by most companies in the global smart polymer market were agreements and collaborations, mergers and acquisitions, joint ventures and expansion. Due to high demand of smart polymer in North America region, the manufacturers in North America region are using acquisition strategy of local producers in the other regions to increase their global market share.
Geographical Analysis:
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Key Players
The notable competitors functioning in the market are The Lubrizol Corporation (the U.S.), Spintech LLC (the U.S.), BASF SE (Germany), Akina, Inc.(the U.S.), Reactive Surfaces Ltd ( the U.S.), Evonik Industries AG( Germany), SMP Technologies Inc.(Japan), Merck Group (Germany), NEI Corporation(the U.S.), among others.
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