Polymer Chameleon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The polymer chameleon market is expected to grow at a CAGR of over 10% during the forecast period. Major factor driving the market studied is growing demand of chameleon polymer from medical and health care industry. On the flip side, high manufacturing cost of polymer chameleon and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

Key Highlights

• Growing demand of chameleon polymer from textile industry is forecasted to offer various opportunities for the growth of the market over the forecast period.
• Chameleon polymer from medical and healthcare application is expected to dominate the market studied over the forecast period.
• Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.

Key Market Trends

Growing Demand of Polymer Chameleon from Medical and Health Care Industry

• Polymer chameleons are stimuli-responsive polymers that undergo rapid changes in their microstructure, triggered by changes in the environment.
• Polymer chameleons can play a significant job in customized prostheses, including substitution of intervertebral plates, vascular inserts, and intraocular inserts.
• Increasing emphasis on smart materials and longer shelf life are driving use of polymer chameleons from healthcare and medical sector.
• Increasing research on chameleon polymer in drug delivery products for specialized applications and its expansion into other product segments including personal care industry is likely to boost the demand for polymer chameleon.
• Hence, owing to the above-mentioned factors, the application of polymer chameleon from medical and healthcare industry is likely to dominate during the forecast period.

Asia-Pacific Region to Dominate the Market

• Asia-Pacific region is expected to dominate the market for polymer chameleon during the forecast period. The rising demand of polymer chameleon from medical and healthcare and growing application in textile sector in developing countries like China, Japan and India is expected to drive the demand for polymer chameleon in this region.
• The largest producers of penoxsulam are located in Asia-Pacific region. Some of the leading companies in the production of penoxsulam are are Spintech Holdings Inc, SMP Technologies Inc, Merck KGaA, Evonik AG, and among others.
• The Indian healthcare sector is expected to reach (USD 280 billion) by 2020 owing to rising income level, greater health awareness, increased precedence of lifestyle diseases and improved access to insurance.
• The United States and Europe are the biggest consumers constituting 60% of the home textiles imports, while nations like India, China, and Pakistan are the key suppliers.
• Owing to the above-mentioned factors, the market for polymer chameleon in the Asia-Pacific region is projected to grow significantly during the study period.

Competitive Landscape

The global polymer chameleon market is partially consolidated in nature with only few major players dominating the market. Some of the major companies are Spintech Holdings Inc, SMP Technologies Inc, Merck KGaA, Evonik AG, and among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support