The concept is old. In earlier China, soldiers would wear silk undershirts. Because the arrow would not pierce the silk, it would drive it before it into the wound. Pull out the shirt meant pull out the arrow, and the chance of infection depended on your personal hygiene.
Let’s see alter the bullet from penetrating laceration damage to localized surface concussive force damage. So you don’t bleed out, but you might bleed in. Best get that belly drained and check to see if your liver needs repositioning.
There are two very interesting aspects to this. If it works against tiny bullets, it might work against armor piercing bullets (which rely on a small point piercing through fabric). Secondly, unlike ceramic plates to widen the point so that the fabric can do it’s job, these polymer plates are multi-shot resistant. You still have to wear an impact absorbing material, lets say a class I under-the-shirt type vest, but the plastic might upgrade that to a class 3 or 4 without the weight penalty (and fragility) of ceramic or metallic plates.
A non-Newtonian gel layer underneath could soak up the blunt force impact (actually, spread it over the whole torso facing). Likewise, ceramic plates UNDER the material would disperse a single shot nicely. (ceramic plates OVER the material might work as well, with the thin penetration resistant layer of nano material keeping jaggy bits of failed hard plate from penetrating.
This stuff has promise, but like MOST efficient armor solutions, would only be PART of a multi-layer protection.
Space age polymer. Hmmm, the first polymer was glass. Look it up. My favorite way of not getting shot, is to not make people want to shoot me. Call me old-fashioned, but it seems to work. If you’re in a job that requires Kevlar undies, do not forget your trauma plates. They help. Ask any NFL quarterback who wears a rib-belt.