(2019 – 2024) Global Shape-Memory Polymer Market is Anticipated to Reach US$ 15 Billion by 2024

Shape-Memory Polymer

(2019 – 2024) “Shape-Memory Polymer Market Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Shape-Memory Polymer Analysis. The Shape-Memory Polymer market is expected to register a CAGR of approximately 15% during the forecast period of (2019 – 2024).

Shape-Memory Polymer Market Report Covers Leading Manufacturers: Spintech LLCĀ , Cornerstone Research Group, Covestro, MedShape, SMP Technologies Inc., BASF SE, Evonik Industries AG, EndoShape

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The global shape-memory polymer market is expected to witness a CAGR of around 15%, owing to increasing application from healthcare industry. The growing construction industry in Asia-Pacific region is also, likely to stimulate the market growth.

Healthcare Industry Driving the Market

The major driver for the market is increasing application of shape-memory polymer in healthcare for smart drug delivery, orthodontic implants, orthopedic braces and splints, cardiovascular stents, catheters, etc. Global demand for healthcare products and services will continue to rise in the coming years due to aging populations in mature markets and improving access to healthcare in emerging ones. The United States contributes the highest share in the global healthcare industry and is likely to witness a significant growth rate, which is expected to boost the shape-memory polymer market.

Temperature-Induced SMP the Leading Stimulus Type

Among the stimulus type-based segments, temperature-induced SMP is expected to dominate over the others. There are numerous opportunities in the textile industry, which can drive the demand of temperature-induced smart polymers market. Textiles integrated with these SMPs can help in achieving different 3D forms in garments. Window curtains or films with temperature-induced SMPs can also act under the influence of heat, which changes the microstructure and macrostructure properties of smart clothing.

Automotive and Construction Expected to Drive the Asia-Pacific Market

Asia-Pacific is expected to register the highest growth, due to the booming construction industry. The region is also expected to be an emerging market during the forecasted period with an increase in automotive manufacturing facilities in China, India, Indonesia and Thailand. In the automotive industry, shape memory polymers are used in reconfigurable storage bins, seat assemblies, energy absorbing assemblies, airflow control systems, and others. North America and Europe are expected to experience considerable growth, owing to their established aerospace, robotics, and healthcare industries.

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Reasons to Purchase Shape-Memory Polymer Market Report:

  • Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. 
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis.
  • The authentication mode is likely to witness the highest adoption of these systems in the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel). 

Customization of the Report:

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.

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