Shape Memory Materials Market Trends, Growth, Opportunities and Worldwide Forecast to 2030 | Evonik Industries, Johnson Matthey, Covestro AG, Dynalloy, Memry Corporation

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).

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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.

Leading Players:

1. BASF
2. Evonik Industries
3. Johnson Matthey
4. Covestro AG
5. Dynalloy
6. Memry Corporation
7. Spintech LLC
8. Fort Wayne Metals
9. SMP Technologies
10. SAES Getters

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.

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Regional Analysis

The market research report studies the proliferation of the Shape Memory Materials Market in various countries such as the USA, Italy, France, Germany, Russia, Brazil, Canada, Southeast Asia, South Korea and the UK. Not only but also report undergoes a detailed assessment of the regions like North America, Europe, Asia-Pacific, South America, Middle East and Africa.

● North America (Canada, US, Mexico)
● Europe (France, UK, Spain, Germany, CIS, Italy)
● South America (Brazil, Rest Of South America)
● Asia Pacific (Japan, China, India, South Korea, ASEAN, Rest of Asia Pacific)
● Middle East and Africa (Turkey, Israel, UAE, Saudi Arabia, South Africa Rest of the Middle East and Africa)

The report highlights The Other operations of the markets such as the Intellectual Property Rights, supply chain and other technical information related to the product and services. The report provides information about the market which are not easily identifiable that help the market leaders to take useful decisions. Not only this but also the report contains information of untapped avenues as well as factors which shape the overall revenue potential of the shape memory materials market. The market research report presents an in-depth analysis of the demand as well as consumption patterns of the customers in the shape memory materials market analysis. The readers can also get region-wise details for making the informed decisions.

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