DUBLIN, October 21, 2021--(BUSINESS WIRE)--The "Shape Memory Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global shape memory materials market is expected to grow with a CAGR greater than 10% during the forecast period.
Cornerstone Research Group
Spintech Holdings Inc.
Fort Wayne Metals Research Products Corp
SMP Technologies Inc
SAES Getters S.p.A.
NIPPON STEEL CORPORATION
Key Market Trends
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.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Applications in Aerospace Industry
4.1.2 Other Drivers
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
5 MARKET SEGMENTATION
5.1 Alloy Type
5.2 Polymer Type
5.4 End-User Industry
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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/bc93q3
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005804/en/
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