Selbyville, Delaware, June 30, 2021 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the global Conductive Polymers Market was estimated at $3.46 billion in 2020 and is slated to exceed $5.76 billion by 2027, registering a CAGR of 8.3% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
R&D for the usage of conductive polymers in tissue engineering applications with growing technological advancements in doping technology to enhance polymer performance and growing renewable energy projects coupled with an upsurge in automotive sales across the globe will support the conductive polymers market growth.
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Conductive polymers are used in batteries, capacitors, and anti-static insulating materials. One of the potential applications of conductive polymers is conducting plastics batteries. Conductive polymers also find major applications in consumer electronics. Owing to the excellent mechanical, electrical, and thermal properties of conductive polymers, they are in great demand for electrical & electronics applications. Over the last few years, the electronics industry has gone through a rapid change in the world due to advancements in technology and the increasing buying power of consumers. According to the OECD report, the size of the global middle-class population was 1.8 billion in 2009 and will further increase to 4.9 billion by 2030.
The polycarbonate (PC) conductive polymers market is expected to showcased a growth rate of 7.9% CAGR from 2021 to 2027. These polymers can be manufactured to perform electrical and thermal conductivity. PC is a popular polymer material used among other polymers for electric tool casings. For instance, Celanese has developed thermally conductive plastics using polycarbonates. The demand for polycarbonate conductive polymers is largely driven by the weight reduction trends in automobiles, metal replacement in electrical & transportation industries, and design flexibility & efficiency.
Actuator & sensor applications generated around USD 474 million in revenue in 2020. Conductive polymers are used for sensor applications as signal transducers. There are several parameters in sensor technology including sensitivity, selectivity, and response time. Compared to their inorganic counterparts, these polymers have an advantage in achieving high sensitivity & selectivity by the virtue of their chemical & structural diversity. Moreover, these polymers possess the strength of polymers over other materials including low-temperature synthesis & processing. As a result, conductive polymers can be competitive in sensor applications.
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The Asia Pacific is growing at a faster pace and is expected to generate around USD 1.25 billion in revenue by 2027. The regional electronics manufacturers are set to lucrative investments in production, distribution, and R&D in the coming years. Growing polymers demand is mainly contributed by higher demand for advanced TVs, computers, mobile phones, and defense-related electronic equipment. An increased presence of organized retail and affordability due to technological advancement is expected to further strengthen the conductive polymers market share for electronics over the forecast period.
The major players include in the conductive polymers industry are Lubrizol, 3M, Covestro AG, Celanese Corporation, SABIC, Henkel AG & Co. KGaA, and others. Industry players are focused on mergers & acquisitions, product development, R&D investment along with strategic partnerships & joint venture strategies over the long run.
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