New York, USA, Aug. 16, 2022 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global conductive polymer market is predicted to rise at a tremendous CAGR of 7.7%, thereby garnering a revenue of $7,118.5 million in the 2020-2027 timeframe. This integrated report presents a brief outlook of the current framework of the conductive polymer market including its cardinal features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2020-2027. All the necessary market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market:
Drivers: The consumer electronics industry has seen a rapid growth since the last decade or so. This growth is, in turn, expected to provide major boost to the conductive polymer market in the forecast period. Additionally, growing demand for conductive polymers from the automobile industry is predicted to push the market further.
Opportunities: Initiatives such as “go green initiative” launched by various governments is anticipated to provide numerous growth and investment opportunities to the market in the forecast period. Moreover, the growth in consumer electronics industry is predicted to help in increasing the growth rate of the market.
Restraints: Market analysts are however skeptical about the full-paced growth of this market owing to the availability of easy substitutes, which might prove to be a restraint for the conductive polymer market.
Download a Comprehensive PDF Sample of COVID-19 Impact on Conductive Polymer Market
Impact of Covid-19 on the Market:
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. Both, consumer electronic industry and automobile manufacturing industry, which are some of the biggest users of conductive polymers, faced disruptions in manufacturing and distribution cycles which led to a decline in the growth rate of the conductive polymer market. However, new product launches and reopening of economies and industries will help the market to gain its lost ground in the coming period.
Segments of the Market:
The report has divided the conductive polymer market into certain segments based on type, application, and region.
Type: Polypyrrole (PPY) Sub-segment to be the Most Profitable
By type, the polypyrrole (PPY) sub-segment is expected to witness stunning growth and is predicted to gather $934.0 million by 2027. PPY materials offer excellent shielding properties due to which they are extensively used in consumer electronic industries. This utility of PPY materials is predicted to become the primary growth driver of the market in the forecast period.
Application: Anti-Static Packaging and Coating Sub-segment to be the Most Dominant
By application, the anti-static packaging and coating sub-segment is expected to have the highest market share and gather a revenue of $3,319.5 million during the 2020-2027 timeframe. Extensive usage of conductive polymers in anti-static packaging and coating of electronic appliances is projected to be the main growth factor of this sub-segment.
Region: Market in the North America Region to be the Most Lucrative
By regional analysis, the conductive polymer market in North America region accounted for 32.9% in 2019 and is predicted to grow handsomely by 2027. The large consumer electronics industries in the North America region and increasing usage of conductive polymers by these electronics industries for manufacturing of electronic appliances like mobile phones is expected to push the market in this region.
Prominent Market Players:
Some of the prominent players of the conductive polymer market are
- American Dyes Inc.
- ABTECH SCIENTIFIC INC.
- Rieke Metals LLC
- Heraeus Holding GmbH
- Agfa-Gevaert Group
- Sabic
- Celanese Corporation
- KEMET Corporation
- Solvay
- Merck KGaA
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in February 2022, PolyJoule Inc., a US-based energy storage company, announced the launch of a conductive polymer battery technology which is designed to fulfill the needs of stationary power applications. This product launch is predicted to help PolyJoule immensely as the new technology is poised to revolutionize the energy storage market.
Finally, the report also summarizes many crucial aspects of the conductive polymer market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
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More about COVID-19 Impact on Conductive Polymer Market:
- Conductive Polymer s to Gain Traction in Various Application Areas
- Global Conductive Polymer Market to Grow Exponentially in the Forecast Period Owing to Novel Product Launches
