The Shift Towards Cost-effective Manufacturing Is Impelling the Global Electroactive Polymers Market to Evolve at 7.09% of CAGR by 2027
“According to the new market research report published by Inkwood Research, the global electroactive polymers (EAP) market is growing at a CAGR of 7.09% throughout the forecasting years of 2019-2027.”
“Browse 30 market Data Tables and 56 Figures spread over 140 Pages, along with an in-depth TOC on global electroactive polymers market forecast 2019-2027.”
Huge investments and research are driving the electroactive polymers field. Electroactive polymers are a specific type of polymers that change in size or shape when stimulated by an electric field. The major applications of electroactive polymers are for actuators and sensors. Electroactive polymers cost less than metals and alloys, and hence it reduces the cost for the manufacturing industry. Hence major players are adopting the usage of electroactive polymers based products and applications.
Many consumer devices are equipped with touchscreen technology. Actuators made of electroactive polymers are embedded in electronic devices which helps in creating touch sensations. Smartphones are the hand-held devices which are highly used touchscreen products. The smartphone market is expected to grow faster during the forecasted period. The increasing demand and usage of touchscreen phones will provide growth prospects for the EAP market.
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Organic Light Emitting Diodes (OLED) is a highly adopted application of the Electroactive polymers market
OLED’s and LED’s are widely used in display systems. Light emitting electroactive polymers are a cost effective alternative for backlit LCDs. They are used in displays for home systems, electronic appliances, cell phones and industrial readout displays. This field of polymers OLED’s is attracting considerable attention from many companies as a cost effective option for televisions and screens. Companies like Philips and Cambridge Display Technology have been researching polymer OLED’s.
North America is the prime contributor in the global electroactive polymers market
The North America region was the highest contributor to the global electroactive polymers market in 2018. The region has adopted EAP’s as a base material for electronic devices, paints and coatings in the automobile industry, tyres. The shift of preference towards attractively finished and lightweight products have seen an increase in the electroactive polymers applications.
The electroactive polymers market is growing at a rapid pace. The top players operating in the global market are AGFA-GEVAERT N.V., Cabot Corporation, Covestro AG, Premix OY, 3M Company, Heraeus Holdings GMBH, Celanese Corporation, Parket Hannifin Corporation, BASF SE, Lubrizol Corporation and Polyone Corporation. These players are focusing on various strategies for development such as mergers, acquisitions, partnerships, collaborations, joint ventures and business expansions. However, the market is still at its evolving stage, which is making room for new entrants to undergo business expansions.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.