Market Size of Shape-memory Polymer Industry
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.