Shape Memory Material Market Report: Trends, Forecast and Competitive Analysis

Shape Memory Material Market Trends and Forecast

The future of the shape memory material market looks promising with opportunities in the aerospace, automotive, robotics, and healthcare & medical sectors. The global shape memory material market is expected to grow with a CAGR of 8% to 10% from 2023 to 2028. The major drivers for this market are increasing demand of shape memory material in aircraft components, consumer electronics, surgical instruments, and biomedical devices.

Shape Memory Material Market

Emerging Trends in the Shape Memory Material Market

Emerging trends, which have a direct impact on the dynamics of the industry, include growth of the consumer electronics industry and increased uses of SMA in neurology and neuromuscular rehabilitation.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below. To learn the scope, benefits, companies researched and other details of the global shape memory material market report, please download the report brochure.

Shape Memory Material Market by Segments

Shape Memory Material Market by Segment

The study includes a forecast for the global shape memory material market by product, application, and region, as follows:

Shape Memory Material Market by Product [Value ($B) Shipment Analysis from 2017 to 2028]:

Alloy Material

Polymer Material

Others

Shape Memory Material Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Aerospace

Automotive

Robotics

Healthcare & Medical

Others

Shape Memory Material Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Shape Memory Material Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies shape memory material companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the shape memory material companies profiled in this report include.

BASF

Evonik

Johnson Matthey

Covestro AG

Memry

Spintech

Fort Wayne Metals

SMP Technologies

SAES Getters

Nippon Steel & Sumitomo Metals

Shape Memory Material Market Insights

Lucintel forecasts that alloy material will remain the largest segment over the forecast period due to increasing investments in R&D to develop advanced alloy material and rising focus on new material properties for industrial applications.

Within this market, healthcare & medical is expected to remain the largest segment as shape-memory material has an excellent biocompatibility in the manufacturing of various medical devices and growing preference towards quality-based medical treatment.

North America will remain the largest region due to new product development strategies adopted by the leading players in this region. Additionally, increasing demand for shape memory polymers from the aerospace and medical sectors.

Features of the Shape Memory Material Market

Market Size Estimates: Shape memory material market size estimation in terms of value ($B)

Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Shape memory material market size by various segments, such as by product, application and region.

Regional Analysis: Shape memory material market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by product, application and regions for the shape memory material market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the shape memory material market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the shape memory material market size?

Answer: The global shape memory material market is expected to reach an estimated $xx billion by 2027.

Q2. What is the growth forecast for shape memory material market?

Answer: The global shape memory material market is expected to grow with a CAGR of 8% to 10% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the shape memory material market?

Answer: The major drivers for this market are increasing demand of shape memory material in aircraft components, consumer electronics, surgical instruments, and biomedical devices.

Q4. What are the major segments for shape memory material market?

Answer: The future of the shape memory material market looks promising with opportunities in the aerospace, automotive, robotics, and healthcare & medical sectors.

Q5. What are the emerging trends in shape memory material market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include growth of the consumer electronics industry and increased uses of SMA in neurology and neuromuscular rehabilitation.

Q6. Who are the key shape memory material companies?

Answer: Some of the key shape memory material companies are as follows:

BASF

Evonik Industries

Johnson Matthey

Covestro AG

Memry Corporation

Spintech LLC

Fort Wayne Metals

SMP Technologies

SAES Getters

Nippon Steel & Sumitomo Metals

Q7. Which shape memory material segment will be the largest in future?

Answer: Lucintel forecasts that alloy material will remain the largest segment over the forecast period due to increasing investments in R&D to develop advanced alloy material and rising focus on new material properties for industrial applications.

Q8. In shape memory material market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region due to new product development strategies adopted by the leading players in this region. Additionally, increasing demand for shape memory polymers from the aerospace and medical sectors.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the shape memory material market by product (alloy material, polymer material, and others), application (aerospace, automotive, robotics, healthcare & medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?