Europe Electroactive Polymers Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type, Application

The Europe electroactive polymers market is expected to grow from US$ 462.91 million in 2019 to US$ 741.70 million by 2027; it is estimated to grow at a CAGR of 6.2% from 2020 to 2027. The field of biomimetics presents lucrative applications for electroactive polymer companies; the field deals with the models, systems, and elements of nature to solve complex human problems. Under these applications, electroactive polymers are used to mimic the functioning of muscles. The industry is still in a growth stage, witnessing continuous investments in the development of artificial intelligence (AI) with major focus on artificial muscles and vision. Electroactive polymers offer resilience, large actuation, flexibility, and tolerance to damage due to which they are being used to fabricate muscles with the capabilities of biological muscles. In the recent past, machines have been made that imitate fish, birds, plants, and insects. For instance, Eamex Corporation developed an electroactive polymer-based fish known as floajet. However, the suitable properties of electroactive polymers desired for biomimetic performance such as density, strain, speed, efficiency, and actuation pressure are yet to be confirmed.

Europe, especially France, witnessed an unprecedented rise in number of COVID-19 cases, which led to the discontinuation of electroactive polymers manufacturing activities; other chemical and materials manufacturing sector has subsequently impacted the demand for electroactive polymers during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of electroactive polymers components manufacturing projects, thereby reducing the demand for electroactive polymers. Similar trend was witnessed in other European countries such as Russia, the UK, Italy, and Spain. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.

The inherently conductive polymers segment led the Europe electroactive polymers market based on type in 2019. The inherently conductive polymer is a family of specialty conductive thermoplastic compounds, which fulfill uniform and precise surface resistivity throughout a resistivity spectrum from strong electrostatic discharge to strong anti-static. These polymers are quite suited for disk-drive components, wafer processing, and cleanroom applications. They are advantageous in automotive applications that need static discharge protection, like fuel system components. Other automotive uses of these polymers are body attachments, including mirror housings, door handles, bumpers, wheel covers, fenders, and interior parts.

The overall Europe electroactive polymers market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Europe electroactive polymers market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe electroactive polymers market. Key companies operating in the Europe electroactive polymers market include Lubrizol Corporation, Arkema Group, Solvay S.A., Parker Hannifin Corp, Celanese Corporation, Avient Corporation, Agfa-Gevaert Group, and 3M.

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