Automotive Plastic Market Research Report- Forecast to 2023

06/feb/2019 06:21:54 Market Research Future Contatta l'autore

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Future Drivers and Constraints Affecting the Market Growth

Hydrogel is known for its lubricious, permeable, viscoelastic, and multifunctional properties which provides comfort, flexibility, and biocompatibility. Owing to the growing production in contact lenses, personal hygiene, agriculture, and healthcare products, the market is anticipated to expand during the assessment period. Moreover, the healthcare sector along with the hygiene sector is set to witness the highest growth rate owing to the consumption of products such as baby diapers, perfumes, and several others. Increasing awareness regarding the availability of Hydrogel formulations has galvanized R&D investment to develop new products which is supposed to be viewed as a bellwether for the growth of Global Hydrogel Market over the review period.

Hydrogels are also used in hygiene and personal care sector due to its good oxygen permeability, soft and tissue-like properties, superior biocompatibility, water absorption, and microporous structure. With the increase in hygiene awareness, aging population and growing infant, and rising demand for feminine hygiene products is expected to spur the market growth over the forecast period.

Meanwhile, high cost related to complex production process of hydrogel coupled with environmental hazards from disposable synthetic hydrogel products are some of the major factors restraining the growth of the market globally.

Industry News:

In May 2018, Ambu acquired Invendo Medical GmbH which is a leading developer of sterile single-use high-definition endoscopy products in gastrointestinal and gastroenterology surgery fields.

Competition Analysis:

The prominent players operating the market for Hydrogel globally are Alliqua BioMedical Inc (U.S.A), R&D Medical Products Inc (U.S.A), The Cooper Companies Inc. (U.S.A), Johnson & Johnson Private Limited (U.S.A), Cardinal Health (U.S.A), Dow Corning Corporation (U.S.A), Axelgaard Manufacturing Co. Ltd.(U.S.A), BSN medical (Germany), H.B. Fuller Company (U.S.A), and others.

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Market Overview:

According to a new report by Market Research Future, (MRFR), the global market for Hydrogel is anticipated to expand at a staggering CAGR during the forecast period (2017-2023) due to the increasing utilization of hydrogels in the healthcare sector. Used in several applications such as healthcare, contact lenses, agriculture, tissue engineering. Drug delivery, and others, hydrogel is lubricious, viscoelastic, permeable, and multifunctional in nature. Hydrogel is composed of a 3D network structure which can hold up to large volumes of water and is manufactured using polyvinyl alcohol, sodium polyacrylate, acrylate polymers, and several other polymers. Hydrogel with an optimum degree of crosslinking provides strong and elastic properties which are used as sanitary purposes, medical electrode in ECG, and also in breast implants.

North America to Hold the Largest Market Share

Geographically, the market has been spanned across five major regions such as North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. North America is anticipated to hold the largest market share, owing to the high demand for Hydrogel in biotechnology, agriculture, medicine, tissue engineering, and others. The segment for contact lenses is anticipated to showcase a rapid growth during the assessment period owing to the rising production and consumption in regions like Canada, U.S.A., and Mexico. The tissue engineering segment is also expected to showcase a higher growth rate over the review period.

The Asia Pacific region has achieved an extensive growth owing to the rising per capita income and growing population. Due to the presence of countries like Japan, China, and India, the market is expected to expand in the coming years. The segment for synthetic hydrogel is anticipated to witness a higher CAGR due to its increasing demand in healthcare and hygiene, agriculture, drug delivery systems and others in this region.

Europe has been observed to show significant progress due to its increasing demand for personal and healthcare products like sanitary napkins, baby diapers, and paper towels. With the technological advancements and high disposable income, the market is expected to grow at a higher rate. Italy, Germany and the U.K. are the leading players in this region.

Owing to the increasing consumption of Hydrogel in biotechnology and medicine, tissue engineering, and contact lenses, the Latin American region is anticipated to witness a growth in the years to come. Moreover, the Middle East and Africa are expected to witness a higher growth rate over the assessment period due to the high demand of Hydrogel in wound dressing, tissue engineering, and drug delivery systems.

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Smart Polymers Market – Regional Analysis

North America region accounted largest market share in the Global Smart Polymer Market and expected to dominate during the forecast period due to advancement in drug delivery, nanotechnology, nanoscience, and nanomedicine and penetration of end user industry in the region. The unique properties of smart polymer to respond to a wide range of parameters, such as changes in pH, ionic strength, temperature, magnetic and electric field which makes it ideal in biotechnology and medicine, electrical & electronics that drive smart polymer market in North America region. North America market is mainly occupied by the U. S. being largest consumer and manufacturer and exporter of smart polymer. Europe is the second largest market for smart polymer followed by North America.                                  

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