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Polymer Chameleons Market Size Forecast to Reach US$2.5 billion by 2027

Polymer Chameleons Market Overview
Polymer chameleons market size is forecast to reach US$2.5 billion by 2027, after growing at a CAGR of 8.4% during 2022-2027. Globally, polymer chameleons market is increasing rapidly, owing to the rising demand for vehicles with light weight, low fuel combustion, and strict implementation of regulations by governing bodies such as the European Union and Environmental Protection Agency. The use of advanced technologies for the manufacture of high-quality products is forecasted to rise the polymer chameleon’s market growth in the near future. Polymer chameleon manufacturers are formulating unique solutions in order to assist drug delivery systems, wound treatment, biosensor designing, and other metabolically regulated systems. Shape memory polymers, a type of polymer chameleon, are altered products, to provide active shape memory, whose chemical and physical properties are modified. Advancements in the health care technology and demand from the pharmaceutical & healthcare sector are key factors driving the polymer chameleons market such as in the production of vascular implants, intraocular implants, and others.

COVID-19 Impact
The COVID 19 outbreak widely affected the pharmaceutical & healthcare, electrical & electronics, and transportation industries over 2020. Owing to the nationwide lockdown, the production process of various products in these industries declined due to the non-functioning of the manufacturing plants. Economies of each sector got affected and resulted in stagnation of activities across the sectors that uses polymer chameleons. Business communities even faced several issues related to raw material shortage, labor shortage, and temporary closure of operations, supply chain disturbance, and many more. However, COVID-19 palindrome and nationwide lockdown had a lesser impact on the pharmaceutical & healthcare industry. Since there was a significant increase in drug production, manufacture of medical devices and sales, occurred during the COVID-19 epidemic wave, and has positively affected the growth of the polymer chameleons market.

Polymer Chameleons Market Segment Analysis – By Type
The shape memory polymers segment held the largest share with 24% in the polymer chameleons market in 2021. SMPs, a type of polymer chameleons, are intelligent materials with a wide usage in pharmaceutical & healthcare industry. Their potential usage lies in intravenous cannula, selectively pliable tools for small scale surgical procedures, and self-adjusting orthodontic wires. SMPs are overtaking, the currently used metal-based shape-memory alloys such as Nitinol, with their property to retain two or more shapes, and the transition between those is induced by temperature, electric or magnetic field. Thus, with the rising demand for shape memory polymers in pharmaceutical & healthcare industry, the polymer chameleons market is anticipated to rise over the forecast period.

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Polymer Chameleons Market Segment Analysis – By Application
The medical devices segment held the largest share in the polymer chameleons market in 2021, due to the increasing health issues and modernization of healthcare infrastructure. In the healthcare sector, medical implants or prostheses such as vascular implants, intraocular implants, and replacement of intervertebral discs are manufactured using polymer chameleons. Various organizations are focusing on improving the production of polymer chameleons due to its effective, pulsating or modulated drug release pattern to mimic the biological demand and targeted drug delivery, and to fulfill their growing demand. The rising growth in medical devices industry, will uplift the polymer chameleons market growth. For instance, according to the Indian Brand Equity Foundation, Indian export of medical devices stood at Rs. 14,802 crore (US$2.1 billion) in 2019 and is forecasted to rise at a CAGR of 29.7 percent to reach Rs. 70,490 crore (US$10 billion) in 2025. Thus, the rising growth of the medical devices sector is anticipated to drive the growth of the polymer chameleons market over the forecast period.

Polymer Chameleons Market Segment Analysis – By End-Use Industry
The pharmaceutical & healthcare industry held the largest share in the polymer chameleons market in 2021 and is expected to grow at a CAGR of 9.1% during 2022-2027. Polymer chameleons has a major role in customized prostheses, including substitution of intervertebral plates, vascular implants, and intraocular inserts. Increasing demand for longer shelf life and smart materials are forecasted to surge the market of polymer chameleons from pharmaceutical & healthcare sector. The need for polymer chameleons is increasing rapidly in emerging economies such as in the United States, Canada, China, India, and other countries. Globally, with the rising government investments in the healthcare sector, the demand for polymer chameleons is also estimated to rise. For instance, according to Invest India, the Indian healthcare market is expected to reach US$ 372 Bn by 2022 from US$ 190 Bn in 2020. Thus, the rising government investments in the pharmaceutical & healthcare sector is anticipated to drive the growth of the market over the forecast period.

Polymer Chameleons Market Segment Analysis – By Geography
Asia-Pacific region dominated the polymer chameleons market with a share of 42% in the year 2021. The Asia Pacific region is predicted to continue its dominance in the market during the forecast period due to the increasing requirement for polymer chameleons in developing countries such as China, Japan, India, and South Korea. Polymer chameleons are applied in drug delivery, molecular separation, flexible chips, biofilms, bio separation, medical devices, HVAC components, optical data storage, and others. China is expected to continue its dominance in the polymer chameleons market during the forecast period, due to the growth of the transportation and pharmaceutical & healthcare industries in the country. Polymer chameleons are used in automobiles for preventing corrosion and rust on the body parts and other components such as fasteners, clips, and interior trays of automobiles. The increasing growth of the end use industries, is rising the growth of the market. For instance, according to Invest India, in 2020, the transportation industry was worth US$ 806.63 billion and is further expected to grow at a CAGR of 5.9%. Additionally, rising government investment in pharmaceutical & healthcare industry, and R&D activities, is predicted to uplift the polymer chameleon’s market growth. For instance, according to the Pharmaceutical Research and Manufacturers Association (PhRMA), in the U.S., R&D in pharmaceuticals stood at US$ 75 billion, about more than half of the world’s R&D. Thus, the rising usage of polymer chameleons in various end-use industries will drive the market growth in the forecast period.

Increasing Demand for Polymer Chameleons in Automotive Industry

Polymer chameleons in the automotive industry provide great advantages in preventing rust and corrosion on automotive body parts. It also provides high strength, lightweight, and cost-effectiveness. Additionally, it possesses high bond, chemical resistance, and low surface energy, for automotive body parts such as fasteners, clips, interior trays, undercarriages and others. They have been used in automobile manufacture as substitutes for petroleum-based plastics. In recent years the rising production of automotive has further raised the demand for polymer chameleons. For instance, according to Organisation Internationale des Constructeurs d’Automobiles (OICA), in Austria, motor vehicle production increased from 1,64,900 units in 2018 to 1,79,400 units in the year 2019. Similarly, in Vietnam, the production of motor vehicles increased from 2,37,000 units in 2018 to 2,50,000 units in the year 2019. With the increasing production of automobiles, it is estimated that in the upcoming years the requirement for polymer chameleons in the automotive industry will rise. Thus, which will boost the growth of the market.

Surging Demand for Polymer Chameleons with the Growth of the Textile and Apparel Industry
The textile industry uses polymer chameleons on a vast scale for manufacturing synthetic fibers. Polymer chameleons are increasingly being used as materials to achieve superior oil, water, and stain resistance in textile and apparel industry, driving the market growth. Polymer chameleons fibers and coatings have a wide application in a variety of new textile products, due to their unique magnetic, optical, and electrical properties. The clothing application segment has led the market due to the ever-changing fashion trends, influencing the demand for clothing worldwide. In addition, industry producers are increasing their product range by launching innovative quality items in many variations, coupled with the growing awareness among individuals about new clothing styles. Furthermore, with the expanding textile and apparel industry, the demand for polymer chameleons will also rise over the forecast period. For instance, according to the report ‘Technical Textiles: Emerging Opportunities and Investments’ released by the Federation of Indian Chambers of Commerce and Industry (F.I.C.C.), the Indian technical textile market is expected to expand by US$ 23.3 billion by 2027. Thus, the rising demand for polymer chameleons in the textile & apparel sector is estimated to drive the market growth.

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Polymer Chameleons Market Challenges
Long Response Time of Polymer Chameleons Will Hamper the Market Growth
Long response time of polymer chameleons is one of the critical factors restraining the market growth. A chameleon-inspired stretchable electronic skin have a long response time as the pressure-driven voltage has a time delay to reach the proper voltage. Polymer chameleons are famous because of their stimulus-responsive nature, owing to which they are widely applied in drug delivery systems. However, they have long response time, which causes a sluggish in vivo sol-gel transition, and a slow procedure of initial drug release by the thermo sensitive system. Thus, long response time of polymer chameleons will create hurdles for the market growth in the forecast period.

Polymer Chameleons Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies players adopt in this market. Polymer Chameleons top 10 companies include:

1. Akzo Nobel N.V.
2. Evonik Industries AG,
3. BASF SE
4. DuPont de Nemours, Inc.
5. Autonomic Materials
6. DOW Chemical Company
7. Huntsman International, LLC.
8. High Impact Technology, LLC
9. Honeywell International, Inc.
10. Chameleon International Search Limited

Acquisitions/Technology Launches
In 2019, PolyOne advanced polymer solutions for future vehicles, to provide low VOC/FOG thermoplastic elastomers, vibration damping technology, colour changing effects in order to create chameleon-like colour changing effects for electric vehicle interiors, and others.

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Key Takeaways

The Asia Pacific region dominates the polymer chameleons market due to the rising growth and increasing investments in the electrical & electronics industry. For instance, according to Invest India, growth in domestic electronics production was 2.5 times more in 5 years, from US$ 29 bn in 2014 to US$ 75.7 bn in 2019-2020.
Rapidly rising demand for polymer chameleons in the transportation industry to achieve lightweight vehicles for improving the performance and fuel efficiency of vehicles is estimated to drive the polymer chameleons market growth in the upcoming years.
The increasing usage of polymer chameleons in the textile & apparel industry due to their unique magnetic, optical, and electrical properties is a critical factor driving the growth of the polymer chameleons market.
However, long response time of polymer chameleons can hinder the growth of the polymer chameleons industry over the forecast period.

Relevant Reports
Polymers Market – Forecast (2022 – 2027)
https://www.industryarc.com/Report/18767/polymers-market
Plastics & Polymers Market – Forecast (2022 – 2027)
https://www.industryarc.com/Report/16091/plastic-polymers-market.html

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Contact Information:

Venkat Reddy
Sales Director
Email: [email protected]
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677