What is the Expected Valuation of the Global Shape Memory Materials Market?

Global Shape Memory Materials Market to Grow Rapidly due to Increasing Applications in End-use Industries

Shape Memory Materials are used in couplings, actuators, and smart materials in the electrical, building, robotics, aerospace, and automotive industries, and are especially well suited for adaptive structures. Shape Memory Materials actuator-based systems are already in use in valves and drives, where they provide a lightweight, solid-state alternative to conventional actuators including hydraulic, pneumatic, and motor-based systems.

Medical, shower controls, petroleum industry, vibration dampers, ball bearings, sensors, miniature grippers, micro valves, pumps, landing gears, eyeglass frames, material for helicopter blades, sprinklers in fine warning systems, and many other applications use Shape Memory Materials. Shape memory materials are a form of smart material that can change from one determined shape to another in response to an external stimulus. Shape memory materials, such as Shape Memory Alloys (SMA) and Shape Memory Polymers, were created in response to the demand for structures that can adjust their shape autonomously to changing conditions (SMP).

Growth Drivers that Support the Global Shape Memory Materials Market:
• Based on product segment, in 2018, the alloys segment held the largest market share, and it is expected to rise at a significant CAGR over the forecast period. Segment growth is being fuelled by increased R&D investments in alloy products such as specialty guidewires, wire stents, and micro-coils.
• The increased use of copper-based alloys in safety valves, actuators, couplings, and fluid connectors is credited with alloy development.
• Over the forecast period, the automotive segment is expected to have the highest CAGR. Advanced actuators, sensors, and microcontrollers are being built in response to the increasing demand for improved performance, protection, and comfort in modern automobiles. The segment's growth is being driven by the growing adoption of shape memory effect over traditional actuators such as pneumatic and hydraulic systems. Shape memory alloys are also used widely in the aerospace and defense industries.
• In 2018, North America had the highest market share, and this dominance is predicted to continue over the projected period. This is due to the region's growing biomedical, automotive, and aerospace industries, which will continue to drive demand for shape memory alloys.

Available Sample Report in PDF Version along with Graphs and Figures@ https://www.quincemarketinsights.com/request-sample-60530?utm_source=SK&utm_medium=Openpr&utm_campaign=SK

Companies are keen to Investment in the global market
• SAES Group, an industry leader, has devoted approximately 17% of its workforce to research and development. Over the last 70 years, the company has developed more than 300 unique products.

Major companies functioning in the global Shape Memory Materials Market are Evonik Industries, BASF, Johnson Matthey, Dynalloy, Covestro AG, Memry Corporation, SAES Getters, Fort Wayne Metals, Spintech LLC, SMP Technologies,

Market Segmentation:
By Product:
• Alloy Material
• Polymer Material
• Others

By Application:
• Aerospace
• Automotive
• Robotics
• Healthcare & Medical
• Others

By Region:
• North America
◦ North America, by Country
▪ US
▪ Canada
▪ Mexico
◦ North America, by Product
◦ North America, by Application

• Western Europe
◦ Western Europe, by Country
▪ Germany
▪ UK
▪ France
▪ Italy
▪ Spain
▪ The Netherlands
▪ Rest of Western Europe
◦ Western Europe, by Product
◦ Western Europe, by Application

• Asia Pacific
◦ Asia Pacific, by Country
▪ China
▪ India
▪ Japan
▪ South Korea
▪ Australia
▪ Indonesia
▪ Rest of Asia Pacific
◦ Asia Pacific, by Product
◦ Asia Pacific, by Application

• Eastern Europe
◦ Eastern Europe, by Country
▪ Russia
▪ Turkey
▪ Rest of Eastern Europe
◦ Eastern Europe, by Product
◦ Eastern Europe, by Application

• Middle East
◦ Middle East, by Country
▪ UAE
▪ Saudi Arabia
▪ Qatar
▪ Iran
▪ Rest of Middle East
◦ Middle East, by Product
◦ Middle East, by Application

• Rest of the World
◦ Rest of the World, by Country
▪ South America
▪ Africa
◦ Rest of the World, by Product
◦ Rest of the World, by Application

Objectives of this Report:

• To estimate the market size for Shape memory materials market on a regional and global basis.
• To identify major segments in Shape memory materials market and evaluate their market shares and demand.
• To provide a competitive scenario for the Shape memory materials market with major developments observed by key companies in the historic years.
• To evaluate key factors governing the dynamics of Shape memory materials market with their potential gravity during the forecast period.

Reasons to Buy This Report:

• It provides niche insights for a decision about every possible segment helping in the strategic decision-making process.
• Market size estimation of the Shape memory materials market on a regional and global basis.
• A unique research design for market size estimation and forecast.
• Identification of major companies operating in the market with related developments
• Exhaustive scope to cover all the possible segments helping every stakeholder in the Shape memory materials market

ABOUT US:
QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world's most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.

Contact:
Quince Market Insights
Office No- A109
Pune, Maharashtra 411028
Phone: APAC +91 706 672 4848 / US +1 208 405 2835 / UK +44 121 364 6144
Email: sales@quincemarketinsights.com
Web: www.quincemarketinsights.com

This release was published on openPR.