The global conducting polymer market is anticipated to grow at a significant CAGR of over 7% during the forecast period. The growth is attributed to an increase in researches to improve the stability of polymers so that it can be used in a wide verity of commercial applications. The conductive polymers can be blended easily with blended with the conventional polymers to enhance theiroxidative and hydrolytic stability properties which are anticipated to increase the conducting polymer market growth.
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Additionally, polyaniline is currently being used in technological applications, for instance, rechargeable polyaniline batteries are commercially produced. In addition to this, polypyrrole and derivatives of polythiophene also have significant potential technological applications, for instance, high capacity polypyrrole capacitors. The increased commercial application of various forms of conducting polymer will also drive the conducting polymer market. Various conducting polymers are also now being used in batteries and electrochromic displays which in turn, tend to expand the conducting polymer market size.
The conducting polymer’s other potential application is found in the field of biotechnology. As the conduction polymers possess soft mechanical properties that match with the majority of biological tissues in the body, leading to a lower mechanical mismatch in implanted devices. Moreover, the conducting polymers have also attracted great interest in the development of biosensors. The conducting polymers have several properties which allow them to act as an excellent material for immobilization of biomolecules and rapidly transfer electron for the fabrication of efficient biosensors. Therefore, the increasing application of conducting polymer in biotechnological advanced devices is anticipated to drive the conducting polymers market.
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Conductive Polymer Market Segmentation
By Type
- Inherently Conductive Polymers (ICPs)
- Inherently Dissipative Polymers (IDPs)
- Others
By Application
- Capacitors
- Batteries
- Actuators & sensors
- Others
