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Description
The global smart polymers market size valued USD 930.2 million and expected to reach USD 2054.2 million by 2027, at a CAGR of 11.6% during forecast period 2021-2027. Global Smart Polymers Market is driven by the rise in need for efficient & economical drug delivery system, innovative use of global smart polymers in the automobile industry, and significant reversible phase transition property of global smart polymers. Development of global smart polymers from renewable feedstock and increase in awareness about global smart polymers in future are expected to provide significant growth opportunities to the industry players. These polymers are widely used in biomedical & biotechnology applications such as drug delivery, tissue engineering, and cell culture support. The extensive research and novel qualities of these polymers has shown significant growth in the market, and is expected to provide lucrative opportunity in the near future. However, high R&D cost increases the overall cost of global smart polymers, which is anticipated to hamper the market growth during the forecast period. Prominent market participants are focusing on strengthening their positions by implementing key strategies such as focusing on emerging application trends and new product launch. A new photosensitive shape-memory polymer is developed and launched, which can be suitable for 3D printing technology via UV curing. This report studies Global dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Global market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Global market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities).
