TMR_Research_Reports_2017 Electroactive Polymers Trends of Market By 2024 | Page 3

Electroactive Polymers Market
Growing Production of Automobiles Worldwide Stimulates Uptake of Electroactive Polymers
The global market for electroactive polymers is directly influenced by the worldwide market for
electronic devices and equipment. “ESD and EMI protection, sensors, actuators, and antistatic
packaging are the primary applications of electroactive polymers which are used in the development
of electronic devices,” says the author of the report. Therefore, the increasing production of electronic
devices is providing a fillip to the global electroactive polymers market. Besides this, sensors and
actuators are indispensable parts of automobiles and thus, the robust growth of the automotive sector
across the globe is escalating the growth of the market.
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Low Commercial Awareness regarding Benefits of Electroactive Polymers Hampers Growth
Prospects
The electroactive polymers market has witnessed strong growth in North America. However, at the
overall scale, the market is still at its nascent stage. Commercial awareness regarding the
advantages of electroactive polymers over traditional materials such as metals is low, which is
hampering the growth of the market. These advantages include ease of fabrication, lower cost of
production, and weight savings. “The lack of awareness in Asia Pacific, which is considered to be the
most potential region, is a major challenge for global participants. This is further compounded by the
lack of technical knowledge about the product and its potential applications in various end-use
industries,” says a TMR analyst.
Nevertheless, these p olymers are finding applications in Li-Ion battery anodes and new age sound
systems. Hence, the soaring demand for sound systems and lithium-ion batteries is creating ample
growth opportunities for the market.
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electroactive-polymers-industry.htm
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