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Piezoelectric Polymers Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI3559
Piezoelectric Polymers Market size is set to witness remarkable growth over 2022-2032, led by the increasing demand for active materials across an array of transduction applications.
Piezoelectric polymers use polarization to reduce actuation and enhance strength & voltage resistance. Innovation and technological developments are introducing embedded inorganic piezoelectric materials for applications in electromechanical devices. Meanwhile, organic piezoelectric biomaterials are gaining momentum in the manufacturing of biomedical devices given their exceptional biocompatibility.
The healthcare sector has witnessed a rapid proliferation of automated medical devices based on AI, robotics, sensors, and ML to perform tasks. Piezoelectric sensors are among the notable technologies with a myriad of bio-applications such as bioMEMS, implantable medical devices, wearable devices, and medical implants.
Piezoelectric polymers market growth from healthcare applications of smart materials will spur the development of innovative polymers. In regenerative medicine, smart materials are being used in artificial muscles, clippers & nitinol staples, orthodontic materials, super elastic self-expanding nitinol stents, and tissue engineering. With the surging demand for advanced medical interventions to speed up the process of diagnosis and treatment and reduce patient stays, the adoption of piezoelectric polymers is likely to register a substantial increase over the foreseeable future.
The fallout between Russia and Ukraine is expected to have several short-term and long-term effects on the piezoelectric polymer industry. The conflict has aggravated the supply chain disruptions introduced by the COVID-19 pandemic, further causing inflation and raw material shortages, which may impede market progress.
Piezoelectric polymers market value from actuators is anticipated to rise notably by 2032 owing to the myriad benefits offered by piezoelectric actuators. Faster response, high accuracy, broad working stroke, and stiffness are some of the prominent features of piezoelectric actuators facilitating precise positioning. A massive surge in the deployment of actuator devices in static and dynamic conditions to effectively withstand high pressures and force will thus proliferate consumer interest in piezoelectric components.
North America piezoelectric polymers market is expected to register substantial remuneration through 2032, owing to the massive influx of renewable energy projects in the region. Nations such as the U.S. and Canada have implemented ambitious strategies to encourage the adoption of solar photovoltaics and renewable energy technologies to drive the energy transition and carbon footprint reduction. This, in turn, is emphasizing piezoelectric polymer usage in energy harvesters. According to the U.S. Energy Information Administration (EIA) Short-Term Energy Outlook report, the rising solar capacity will increase the share of solar power in the U.S. energy generation from 3% in 2022 to 5% in 2023, followed by 6% in 2024.
Global piezoelectric polymers market key players include Arkema, Polyk Technologies, Kureha Corporation, Toray Industries, Inc., and Solvay S.A., among others. These firms are focusing on new expansion strategies to boost innovation and strengthen their business footprint.
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