Shape Memory Polymer 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 Polymer Market Analysis
The global shape-memory polymer (SMP) 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 of shape-memory polymers in the Healthcare Industry. However, relatively low stiffness values are hindering the growth of the market studied.
- Growing demand from the construction industry in Asia-Pacific is another major driver for the market studied
- Asia-Pacific is expected to witness the highest growth rate during the forecast period.
- Among the stimulus type-based segments, temperature-induced SMP is expected to dominate over the others during the forecast period.
Shape Memory Polymer Market Trends
This section covers the major market trends shaping the Shape-Memory Polymer Market according to our research experts:
Temperature-induced Segment to Dominate the Market
- Among the stimulus type-based segments, temperature-induced SMP is expected to witness major growth in demand in the coming years.
- There are numerous opportunities in the textile industry, which can drive the demand for 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.
- Hence, owing to the above-mentioned reasons, temperature-induced SMPs are likely to account for the major market share during the forecast period.
Asia-pacific to Witness the Highest Growth Rate
- Asia-Pacific to expected to witness major growth in the demand for Shape-memory Polymer (SMP) owing to the increasing demand from countries like China and Japan.
- The growing construction industry in countries like India and China is a major driver for the increasing demand for SMP in the region.
- Additionally, there has been significant growth in the demand for SMP in the southeast Asian countries for usage in end-user industries like construction, automotive, healthcare, etc..
- Hence, owing to the above-mentioned reasons, Asia-Pacific is likely to witness the highest growth during the forecast period.
Shape Memory Polymer Industry Overview
The global shape-memory polymer market is moderately consolidated as the majority of the market share is divided among few players. Some of the key players in the market include BASF SE, COVESTRO AG, Evonik Industries AG, SMP Technologies Inc., and Spintech Holdings Inc., among others.
Shape Memory Polymer Market Leaders
BASF SE
Covestro AG
Evonik Industries AG
SMP Technologies Inc.
Spintech Holdings Inc.
*Disclaimer: Major Players sorted in no particular order
Shape Memory Polymer Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Applications in Healthcare
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4.1.2 Growing Demand from the Construction Industry in Asia-Pacific
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4.1.3 Others
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4.2 Restraints
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4.2.1 Relatively Low Stiffness Values
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4.2.2 Impact of COVID-19 Pandemic
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4.3 Industry Value-chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Stimulus Type
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5.1.1 Temperature-induced
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5.1.2 Light-induced
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5.1.3 Electricity-induced
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5.1.4 Other Stimulus Types
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5.2 End-user Industry
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5.2.1 Aerospace
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5.2.2 Automotive
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5.2.3 Construction
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5.2.4 Healthcare
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5.2.5 Other End-user Industries
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 ASEAN Countries
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5.3.1.6 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle-East and Africa
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 BASF SE
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6.4.2 Covestro AG
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6.4.3 Evonik Industries AG
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6.4.4 SMP Technologies Inc.
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6.4.5 Spintech Holdings Inc.
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6.4.6 EndoShape, Inc.
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6.4.7 MedShape, Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Shape Memory Polymer Industry Segmentation
The Shape-memory polymer market report includes:
| Stimulus Type | |
| Temperature-induced | |
| Light-induced | |
| Electricity-induced | |
| Other Stimulus Types |
| End-user Industry | |
| Aerospace | |
| Automotive | |
| Construction | |
| Healthcare | |
| Other End-user Industries |
| Geography | ||||||||
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Shape Memory Polymer Market Research FAQs
What is the current Shape-memory Polymer Market size?
The Shape-memory Polymer 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 Polymer Market?
BASF SE, Covestro AG, Evonik Industries AG, SMP Technologies Inc. and Spintech Holdings Inc. are the major companies operating in the Shape-memory Polymer Market.
Which is the fastest growing region in Shape-memory Polymer 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 Polymer Market?
In 2024, the North America accounts for the largest market share in Shape-memory Polymer Market.
What years does this Shape-memory Polymer Market cover?
The report covers the Shape-memory Polymer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shape-memory Polymer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Shape Memory Polymer Industry Report
Statistics for the 2024 Shape Memory Polymer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shape Memory Polymer analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
