OCTOBER 20249HEALTHCARE SECTOR & WEARABLE TECH STEERING DEMAND FOR SMART POLYMERSINDIA & FRANCE BOLSTER AEROSPACE TIES FOR BILATERAL COOPERATIONTo strengthen collaboration with India in the aerospace sector, over 100 delegates from 60 French companies traveled to New Delhi on Monday. Organized by GIFAS, the delegation will engage with a range of Indian companies from October 7 to 10. The smart polymers market is poised for substantial growth, with projections indicating it will reach $9.26 billion by 2028, growing at a robust CAGR of 14.4 percent. Several factors are fueling this rapid expansion. One GIFAS stated that this includes a range of companies from large contractors to new businesses, spanning the civil, defense, and space divisions of the French aerospace sector.India currently accommodates more than 60 GIFAS member companies, with over 30 operational industrial sites in the country. Training, innovation, and decarbonisation efforts in the aerospace industry are the key areas of concentration in this partnership.The delegation visiting attended a seminar today held at the Taj Mahal Hotel on Mansingh Road in France-India, and later had a press conference. Guillaume Faury, chairman of GIFAS and CEO of Airbus, Frederic Parisot, CEO of GIFAS, and French Ambassador to India Thierry Mathou were present at the seminar.The group from India had 160 members and was guided by Kinjarapu Rammohan Naidu, the Union Minister of Civil Aviation. Members from the Society of Indian Defence Manufacturers, the Federation of Indian Chambers of Commerce and Industry (FICCI), and the Indian Space Association, deliberated on potential partnerships. These organizations play a vital role as GIFAS's partners in India, reflecting the growth of India's aerospace sector. of the primary drivers is the growing demand within the healthcare sector, where smart polymers are increasingly being used for applications such as drug delivery systems, tissue engineering, and advanced medical devices. Additionally, there is a rising call for environmentally friendly and biodegradable materials, which smart polymers effectively address, making them highly desirable across industries.In terms of trends, the market is set to see significant advancements in biodegradable and environmentally friendly materials. These innovations are expected to cater to a global push for sustainable solutions across various sectors. There is also a surge in the development of self-healing materials, which could revolutionize industries by prolonging the lifespan of products and reducing maintenance costs. The integration of smart polymers into smart textiles and wearable technology is another notable trend, promising to enhance functionality in fashion and healthcare. Overall, the smart polymers market is positioned for an exciting period of growth, with advancements in materials science, technology, and sustainable practices leading the way. As industries continue to seek out materials that are not only adaptive but also environmentally friendly, smart polymers are set to become an indispensable part of the future of manufacturing and innovation.
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