Shape Memory Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Shape Memory Materials Market Analysis
The global shape memory materials market is expected to grow with a CAGR greater than 10% during the forecast period. One of the major factors driving the market is the increasing applications in the aerospace industry. However, the relatively low stiffness values are hindering the growth of the market studied.
- The Medical and Healthcare industry is likely to witness the highest growth rate during the forecast period.
- North America is likely to account for the highest share of the market studied during the forecast period.
Shape Memory Materials Market Trends
This section covers the major market trends shaping the Shape Memory Materials Market according to our research experts:
Medical and Healthcare Industry to Dominate the Market
- Shape memory materials are widely used in medical devices owing to their properties and biocompatibility. Some of these applications include stents, drug delivery, and embolization, wound closure, etc.
- The medical industry across the globe is increasing at a significant rate owing to the technological advancements and preference towards quality-based medical treatment. Cardiac treatments have risen at a robust rate in recent years all across the globe.
- The technologies are being adapted from developed nations to developing nations at a fast pace. The combination of the aging population and increased life expectancy is another factor boosting the medical sector.
- Hence, owing to these factors, the healthcare industry is likely to witness the highest market share during the forecast period.
North America to Dominate the Market
- Currently, North America is the major consumer of shape-memory materials. This is primarily due to the growing medical industry in the United States and neighboring countries.
- Additionally, the demand for shape memory polymers from the aerospace sector exhibited significant growth in the near past.
- There has also been significant growth in the demand for shape-memory materials from Canada and Mexico for usage in industries like healthcare, aerospace, etc.
- However, the declining automotive production in the region may slightly hinder the market growth in the region in the coming years.
- Hence, owing to the above-mentioned factors, North America is likely to dominate the market studied during the forecast period.
Shape Memory Materials Industry Overview
The global shape memory materials market is moderately fragmented with the market share divided among many players. Some of the key players in the market include ATI, NIPPON STEEL CORPORATION, Covestro AG, SMP Technologies Inc, and BASF SE, among others.
Shape Memory Materials Market Leaders
ATI
NIPPON STEEL CORPORATION
Covestro AG
SMP Technologies Inc
BASF SE
*Disclaimer: Major Players sorted in no particular order
Shape Memory Materials Market News
- In April 2021, DJO, a subsidiary of Colfax Corporation, has announced that it has completed the acquisition of MedShape, Inc., a provider of shape memory surgical solutions for foot and ankle using its patented superelastic nickel titanium (NiTiNOL) shape memory alloy and shape memory polymer technologies., thereby, the acquisition has enhanced the company's shape memory solutions business.
Shape Memory Materials Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Applications in Aerospace Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Relatively Low Stiffness Values
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Alloy Type
5.1.1 Nitinol
5.1.2 Copper-based Alloys
5.1.3 Nickel-based Alloys
5.1.4 Niobium
5.1.5 Stainless Steel
5.1.6 Other Alloy Types
5.2 Polymer Type
5.2.1 Polyethylene Terephthalate
5.2.2 Polyurethane Films
5.2.3 Polyethylene
5.2.4 Nylon
5.2.5 Polypropylene
5.2.6 Other Polymer Types
5.3 Application
5.3.1 Actuators
5.3.2 Stent
5.3.3 Transducers
5.3.4 Surgical Fixation and Other Medical applications
5.3.5 Clothing
5.3.6 Valves
5.3.7 Other Applications
5.4 End-User Industry
5.4.1 Aerospace
5.4.2 Automotive
5.4.3 Medical and Healthcare
5.4.4 Robotics
5.4.5 Other End-User Industries
5.5 Geography
5.5.1 Asia-Pacific
5.5.1.1 China
5.5.1.2 India
5.5.1.3 Japan
5.5.1.4 South Korea
5.5.1.5 ASEAN Countries
5.5.1.6 Rest of Asia-Pacific
5.5.2 North America
5.5.2.1 United States
5.5.2.2 Canada
5.5.2.3 Mexico
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 Italy
5.5.3.4 France
5.5.3.5 Rest of Europe
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle-East and Africa
5.5.5.1 Saudi Arabia
5.5.5.2 South Africa
5.5.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 ATI
6.4.2 BASF SE
6.4.3 Cornerstone Research Group
6.4.4 Covestro AG
6.4.5 DJO (Colfax Corporation)
6.4.6 DYNALLOY, Inc
6.4.7 Medtronic
6.4.8 Memry Corporation
6.4.9 Spintech Holdings Inc.
6.4.10 Johnson Matthey
6.4.11 Fort Wayne Metals Research Products Corp
6.4.12 SMP Technologies Inc
6.4.13 EUROFLEX GmbH
6.4.14 SAES Getters S.p.A.
6.4.15 NIPPON STEEL CORPORATION
6.4.16 xsma, Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Shape Memory Materials Industry Segmentation
The shape memory materials market is segmented by alloy type, polymer type, application, end-user industry, and geography. By alloy type, the market is segmented into Nitinol, Copper-based Alloys, Nickel-based Alloys, Niobium, Stainless Steel, and Other Alloy Types. By polymer type, the market is segmented into Polyethylene Terephthalate, Polyurethane Films, Polyethylene, Nylon, Polypropylene, and Other Polymer Types. By application, the market is segmented into Actuators, Stent, Transducers, Surgical Fixation and Other Medical applications, Clothing, Valves, and Other Applications. By end-user industry, the market is segmented into Aerospace, Automotive, Medical and Healthcare, Robotics, and Other End-user Industries. The report also covers the market size and forecasts for the shape memory materials market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Alloy Type | |
| Nitinol | |
| Copper-based Alloys | |
| Nickel-based Alloys | |
| Niobium | |
| Stainless Steel | |
| Other Alloy Types |
| Polymer Type | |
| Polyethylene Terephthalate | |
| Polyurethane Films | |
| Polyethylene | |
| Nylon | |
| Polypropylene | |
| Other Polymer Types |
| Application | |
| Actuators | |
| Stent | |
| Transducers | |
| Surgical Fixation and Other Medical applications | |
| Clothing | |
| Valves | |
| Other Applications |
| End-User Industry | |
| Aerospace | |
| Automotive | |
| Medical and Healthcare | |
| Robotics | |
| Other End-User Industries |
| Geography | ||||||||
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Shape Memory Materials Market Research FAQs
What is the current Shape Memory Materials Market size?
The Shape Memory Materials Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Shape Memory Materials Market?
ATI, NIPPON STEEL CORPORATION, Covestro AG, SMP Technologies Inc and BASF SE are the major companies operating in the Shape Memory Materials Market.
Which is the fastest growing region in Shape Memory Materials Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Shape Memory Materials Market?
In 2024, the North America accounts for the largest market share in Shape Memory Materials Market.
What years does this Shape Memory Materials Market cover?
The report covers the Shape Memory Materials Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shape Memory Materials Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Shape Memory Materials Industry Report
Statistics for the 2024 Shape Memory Materials market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shape Memory Materials analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
