Shape Memory Materials Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Feb 2022 Pages: 120 SKU: IRTNTR72502

The shape memory materials market share is expected to increase by USD 8.67 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.79%.

This shape memory materials market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers shape memory materials market segmentation by end-user (healthcare, aerospace, automotive, and others) and geography (North America, Europe, APAC, the Middle East and Africa, and South America). The shape memory materials market report also offers information on several market vendors, including Allegheny Technologies Inc., BASF SE, Boston Centerless Inc., Chongqing Gearbox Co. Ltd., Confluent Medical Technologies, Covestro AG, Daido Steel Co. Ltd., DYNALLOY Inc, EUROFLEX GmbH, Fort Wayne Metals Research Products Corp., Johnson Matthey Plc, Metalwerks Inc., Nanoshel LLC, Nippon Steel Corp., Precision Castparts Corp., SAES GETTERS Spa, SMP Technologies Inc., Spintech Holdings Inc., Stanford Advanced Materials, and Ultimate Wireforms Inc. among others.

What will the Shape Memory Materials Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Shape Memory Materials Market Size for the Forecast Period and Other Important Statistics

 

Shape Memory Materials Market: Key Drivers, Trends, and Challenges

The increasing shape memory materials demand in the automotive and aerospace sector is notably driving the shape memory materials market growth, although factors such as concerns with the use of smart polymers may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the shape memory materials industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Shape Memory Materials Market Driver 

One of the key factors driving the global shape memory materials market growth is the increasing demand for shape memory materials in the automotive and aerospace sector due to reduced weight, increased efficiency, and long service durability. Epoxies are the major matrix materials that are used in the aerospace industry, whereas carbon or graphite and aramid are the reinforcement materials that are used in the end-user industries. In addition, the aviation industry is growing significantly, especially in APAC countries, such as China, Hong Kong, Malaysia, Thailand, Singapore, and India. According to the International Civil Aviation Organization's preliminary compilation of annual global statistics, the total number of passengers carried on scheduled services rose to 4.3 billion in 2018, an increase of 6.4% from 2017. Hence, a rise in aircraft production is expected to drive the adoption of shape memory materials in the aerospace industry during the forecast period.

Key Shape Memory Materials Market Trend

Another key factor driving the global shape memory materials market growth is the new product launches and expansions. For instance, in March 2021, I-Form, the SFI Research Centre for Advanced Manufacturing had signed a multi-year agreement with the US manufacturing company Fort Wayne Metals to develop 3D printed wires for next-generation medical devices. The four-year agreement will include research on additive manufacturing (3D printing) of wire and tubing utilizing metal alloys. In addition, in August 2021, Genesis Innovation Group's announced one of their portfolio companies, SpinTech, has received FDA 510(k) clearance for their STAGETM magnetic resonance imaging software. Such factors are expected to further accelerate the market growth during the forecast period.

Key Shape Memory Materials Market Challenge

One of the key challenges to the global shape memory materials market growth is the concern with the use of smart polymers. Shape memory materials such as polymers face challenges concerning high burst discharge and unpredictable conduct in biphasic discharge profiles. For instance, neuronal burst discharges are defined as three or more action potentials (or spikes) parted by inter-spike phases of less than or equal to 30 milliseconds or two spikes parted by an intermission of less than or equal to 15 milliseconds. Smart polymers also face challenges regarding general medication, discharge kinetics, conformational integrity during handling, and safeguarding biological actions during discharge. This is expected to challenge the growth of the global shape memory materials market in the forecast period.

This shape memory materials market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global shape memory materials market as a part of the global diversified metals and mining market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the shape memory materials market during the forecast period.

Who are the Major Shape Memory Materials Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Allegheny Technologies Inc.
  • BASF SE
  • Boston Centerless Inc.
  • Chongqing Gearbox Co. Ltd.
  • Confluent Medical Technologies
  • Covestro AG
  • Daido Steel Co. Ltd.
  • DYNALLOY Inc
  • EUROFLEX GmbH  
  • Fort Wayne Metals Research Products Corp.
  • Johnson Matthey Plc
  • Metalwerks Inc.
  • Nanoshel LLC
  • Nippon Steel Corp.
  • Precision Castparts Corp.
  • SAES GETTERS Spa
  • SMP Technologies Inc.
  • Spintech Holdings Inc.
  • Stanford Advanced Materials
  • Ultimate Wireforms Inc. 

 

This statistical study of the shape memory materials market encompasses successful business strategies deployed by the key vendors. The shape memory materials market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

  • atimetals.com- The company offers radiation therapy equipment named CyberKnife system.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The shape memory materials market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Shape Memory Materials Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the shape memory materials market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Shape Memory Materials Market?

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36% of the market's growth will originate from North America during the forecast period. The US is the key market for shape memory materials in North America. Market growth in this region will be faster than the growth of the market in South America and Europe.

The significant increase in the healthcare expenditure, technological advances, and the stringent regulatory standards set by regulatory authorities will facilitate the shape memory materials market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 has positively impacted the demand for medical polymers in the region as the supply chain network for the pharmaceutical industry is witnessing a rise in demand due to the increased demand for drugs and vaccines to treat COVID-19 patients. The increase in the demand for pharmaceuticals will boost the growth of the focused market in the region. 

What are the Revenue-generating End-user Segments in the Shape Memory Materials Market?

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The shape memory materials market share growth by the healthcare segment will be significant during the forecast period. The significant increase in the demand for shape memory materials in the healthcare sector, owing to its usage in hospital accessories such as syringes, blood bags, catheters, and pharmaceutical containers, as they are lightweight, corrosion-resistant, and can be sterilized multiple times, will drive the growth of the market in focus through this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the shape memory materials market size and actionable market insights on post COVID-19 impact on each segment.

 

Shape Memory Materials Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.79%

Market growth 2022-2026

$ 8.67 billion

Market structure

Fragmented

YoY growth (%)

8.96

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 36%

Key consumer countries

US, Japan, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Allegheny Technologies Inc., BASF SE, Boston Centerless Inc., Chongqing Gearbox Co. Ltd., Confluent Medical Technologies, Covestro AG, Daido Steel Co. Ltd., DYNALLOY Inc, EUROFLEX GmbH  , Fort Wayne Metals Research Products Corp., Johnson Matthey Plc, Metalwerks Inc., Nanoshel LLC, Nippon Steel Corp., Precision Castparts Corp., SAES GETTERS Spa, SMP Technologies Inc., Spintech Holdings Inc., Stanford Advanced Materials, and Ultimate Wireforms Inc. 

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Shape Memory Materials Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive shape memory materials market growth during the next five years
  • Precise estimation of the shape memory materials market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the shape memory materials industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of shape memory materials market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Healthcare - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Healthcare - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on Healthcare - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on Healthcare - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Healthcare - Year-over-year growth 2021-2026 (%)
    • 5.4 Aerospace - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Aerospace - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Aerospace - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Aerospace - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Aerospace - Year-over-year growth 2021-2026 (%)
    • 5.5 Automotive - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Automotive - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 37: Data Table on Automotive - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 38: Chart on Automotive - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
    • 5.6 Others - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by End-user
      • Exhibit 44: Market opportunity by End-user ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 48: Chart on Geographic comparison
      • Exhibit 49: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 66: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 China - Market size and forecast 2021-2026
      • Exhibit 86: Chart on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 87: Data Table on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 88: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 Allegheny Technologies Inc.
              • Exhibit 97: Allegheny Technologies Inc. - Overview
              • Exhibit 98: Allegheny Technologies Inc. - Business segments
              • Exhibit 99: Allegheny Technologies Inc. - Key offerings
              • Exhibit 100: Allegheny Technologies Inc. - Segment focus
            • 10.4 BASF SE
              • Exhibit 101: BASF SE - Overview
              • Exhibit 102: BASF SE - Business segments
              • Exhibit 103: BASF SE - Key news
              • Exhibit 104: BASF SE - Key offerings
              • Exhibit 105: BASF SE - Segment focus
            • 10.5 Chongqing Gearbox Co. Ltd.
              • Exhibit 106: Chongqing Gearbox Co. Ltd. - Overview
              • Exhibit 107: Chongqing Gearbox Co. Ltd. - Product / Service
              • Exhibit 108: Chongqing Gearbox Co. Ltd. - Key offerings
            • 10.6 Covestro AG
              • Exhibit 109: Covestro AG - Overview
              • Exhibit 110: Covestro AG - Business segments
              • Exhibit 111: Covestro AG - Key offerings
              • Exhibit 112: Covestro AG - Segment focus
            • 10.7 DYNALLOY Inc
              • Exhibit 113: DYNALLOY Inc - Overview
              • Exhibit 114: DYNALLOY Inc - Product / Service
              • Exhibit 115: DYNALLOY Inc - Key offerings
            • 10.8 Fort Wayne Metals Research Products Corp.
              • Exhibit 116: Fort Wayne Metals Research Products Corp. - Overview
              • Exhibit 117: Fort Wayne Metals Research Products Corp. - Product / Service
              • Exhibit 118: Fort Wayne Metals Research Products Corp. - Key offerings
            • 10.9 Nippon Steel Corp.
              • Exhibit 119: Nippon Steel Corp. - Overview
              • Exhibit 120: Nippon Steel Corp. - Business segments
              • Exhibit 121: Nippon Steel Corp. - Key offerings
              • Exhibit 122: Nippon Steel Corp. - Segment focus
            • 10.10 SAES GETTERS Spa
              • Exhibit 123: SAES GETTERS Spa - Overview
              • Exhibit 124: SAES GETTERS Spa - Business segments
              • Exhibit 125: SAES GETTERS Spa - Key offerings
              • Exhibit 126: SAES GETTERS Spa - Segment focus
            • 10.11 SMP Technologies Inc.
              • Exhibit 127: SMP Technologies Inc. - Overview
              • Exhibit 128: SMP Technologies Inc. - Product / Service
              • Exhibit 129: SMP Technologies Inc. - Key offerings
            • 10.12 Spintech Holdings Inc.
              • Exhibit 130: Spintech Holdings Inc. - Overview
              • Exhibit 131: Spintech Holdings Inc. - Product / Service
              • Exhibit 132: Spintech Holdings Inc. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 133: Inclusions checklist
                • Exhibit 134: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 135: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 136: Research methodology
                • Exhibit 137: Validation techniques employed for market sizing
                • Exhibit 138: Information sources
              • 11.5 List of abbreviations
                • Exhibit 139: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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