Global Shape Memory Polymer Market is valued approximately USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2020-2027. Shape memory polymer is a polymeric, brilliant material that can return to its unique changeless state from a distorted transitory state when initiated by an external boost, such as temperature, power, attractive field, light, synthetic compounds, and so on. The biomedical industry is one of the application areas for shaping the polymer memory market that will drive the market. The product was found to be non-toxic, biocompatible and non-mutagenic in its nature, which allows its use in various clinical devices inserted into a human body. According to Statista, the total annual growth in global medical technology is expected to rise be 5 per cent in 2022. Global medical technology's growth rate has been variable since 2010 with growth ranging from 8 to -2 per cent. An attractive feature of SMPs which will enhance its biomedical applications is its ability to adjustthe glass transition temperature for the restoration of shape or self-deployment of clinical devices when it is inserted or contacted in the human body. As per Statista, statistic shows the market share of the medical polymers worldwide by application in 2016. Medical polymers are used for implants accounted for almost 48 per cent of the global market for medical polymers that year. Growing acceptance owing to its non-toxic , non-mutagenic and biocompatible nature is expected to create lucrative growth aspects for the market.
The regional analysis of Global Shape Memory Polymer Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The presence shape memory polymer market in the US of several SMP manufacturers and researchers along with a large number of patents filed in the country will be a major reason for its dominant position of the region. The use of SMP in the aerospace and space technology will provide various opportunities for North America 's product market growth over the projected period. By the end of the forecast period Asia Pacific will also be an important market.. the demand will be driven by increased number of rates of automotive production in China , India and other Asian countries which is coupled with rising investment in aerospace and space exploration activities. The manufacturing of biomedical devices in China and South Korea will be a key reason behind the growth of the Asia Pacific market in coming years.
Major market player included in this report are:
Cornerstone Research Group Inc.
Evonik Industries AG
Mitsubishi Chemical Corporation
Syzygy Memory Plastics Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year ñ 2017, 2018
Base year ñ 2019
Forecast period ñ 2020 to 2027
Target Audience of the Global Urgent Care Center Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers