DUBLIN--(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.

Companies Mentioned

• ATI
• BASF SE
• Cornerstone Research Group
• Covestro AG
• DYNALLOY, Inc
• Medtronic
• Memry Corporation
• Spintech Holdings Inc.
• Johnson Matthey
• Fort Wayne Metals Research Products Corp
• SMP Technologies Inc
• EUROFLEX GmbH
• MedShape, Inc.
• SAES Getters S.p.A.
• NIPPON STEEL CORPORATION
• xsma, Inc.

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:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Increasing Applications in Aerospace Industry

4.1.2 Other Drivers

4.2 Restraints

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

5.3 Application

5.4 End-User Industry

5.5 Geography

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

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