Shape Memory Polymers Market By Industry Trends & Regional Forecast 2025

Asia Pacific shape memory polymer market will witness a compounded annual growth of over 20% in the forecast timespan. Biomedical equipment manufacturing in South Korea & China, escalating automotive production in India, China & other countries and increasing investments in the aerospace sector will drive the regional shape memory polymer market.

Despite a saturated automotive industry, increasing demand for vehicles in the U.S. has increased the annual automobile production by 1.1% in the country in 2018. Increasing spending power, robust economic growth and continuously increasing demand will propel the development of automobile industry which in turn will drive SMP demand in coming years. Research and development investments from the leading shape memory polymer manufacturers for exploring the new applications of SMP in automobiles such as SMP-based vehicle seats, etc. will boost the product demand in near future.

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One of the important factors driving the growth of the shape memory polymer industry is the extensive product application in the automobile industry. SMP-based sensors & actuators are substituting the small motors or hydraulic systems in the automobiles. These actuators enhance fuel economy, passenger comfort as well as vehicle performance by reducing the overall component size.

Government initiatives to promote automobile industry coupled with the heavy investment from the global automobile manufacturers, especially in the Asia Pacific region has resulted in escalating growth of the regional automobile industry. In 2018, annual automobile production in India increased by 8% as compared to the production in 2017. Similarly, Japan, one of the leading automobile manufacturers has witnessed a growth of over 5% in the annual automobile production over the past two years.

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Based on material, shape memory polymer market is classified into polyurethane (PU), acrylic, epoxy, PVC (polyvinyl chloride) and others which includes PEEK, bio-PDO, polyethylene, etc. Polyurethane material segment is likely to grow at a CAGR over 25% in the forecast timespan. Polyurethane is used for the production of blood-contacting devices like artificial arteries & veins or heart valves. Rapid advancement of polyurethane based-SMP coupled with their extensive application range in the biomedical industry will prosper the growth of this segment and will be the chief factor behind its larger market share throughout the forecast timespan.

Based on applications, shape memory polymer market is segmented into commercial and research & development. Commercial application segment will have compounded annual growth of approximately 40% owing to the introduction of shape memory polymer-based products for many applications in near future. Initially, research & development application segment will have significant market share but over the period it will be reduced due to the commercialization of the product.

Shape memory polymers responds strongly to the changes in moisture and heat levels which makes them suitable for textile industry. Apart from comfort, shape memory polymers also induce textile soft display, aesthetic appeal, wound monitoring, smart-controlled drug release, etc. Rising textile industry along with increasing demand for apparels providing protection against environmental variations will prosper the growth of shape memory polymers in textile industry.

Partial Chapter of the Table of Content:

Chapter 4. Shape Memory Polymer Market, By Material

4.1.  Global shape memory polymer market material insights

4.2.  Polyurethane (PU)

4.2.1. Market estimates and forecast, 2014 – 2025

4.2.2. Market estimates and forecast, by region, 2014 – 2025

4.3.  Polyvinyl chloride (PVC)

4.3.1. Market estimates and forecast, 2014 – 2025

4.3.2. Market estimates and forecast, by region, 2014 – 2025

4.4.  Acrylic

4.4.1. Market estimates and forecast, 2014 – 2025

4.4.2. Market estimates and forecast, by region, 2014 – 2025

4.5.  Epoxy

4.5.1. Market estimates and forecast, 2014 – 2025

4.5.2. Market estimates and forecast, by region, 2014 – 2025

4.6.  Others (Polyethylene, PEEK, Bio-PDO, etc.)

4.6.1. Market estimates and forecast, 2014 – 2025

4.6.2. Market estimates and forecast, by region, 2014 – 2025

Chapter 5. Shape Memory Polymer Market, Application By End-user

5.1.  Global shape memory polymer market application insights

5.2.  Research & development

5.2.1. Market estimates and forecast, 2014 – 2025

5.2.2. Market estimates and forecast, by end-user, 2014 – 2025

·    Biomedical

·    Automotive

·    Aerospace

·    Textile

·    Others (Construction, Toys, Household Products, etc.)

5.2.3. Market estimates and forecast, by region, 2014 – 2025

5.3.  Commercial

5.3.1. Market estimates and forecast, 2014 – 2025

5.3.2. Market estimates and forecast, by end-user, 2014 – 2025

·    Biomedical

·    Automotive

·    Aerospace

·    Textile

·    Others (Construction, Toys, Household Products, etc.)

5.3.3. Market estimates and forecast, by region, 2014 – 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/shape-memory-polymer-market

Key players in the shape memory polymer market are DowDuPont, Asahi Kasei, MedShape, Nanoshel, Lubrizol, Composite Technology Development, EndoShape, etc.