Market Insights
Shape memory polymer market is likely to witness a significant CAGR of 24.5% during the forecast period. The prime factor contributing to the demand for shape memory polymers is the increasing demand from the biomedical industry. Being non-toxic, biocompatible, and non-mutagenic they are used in clinical devices that are inserted to human body. They are also used to manufacture catheter, orthopedic braces, splints, intravenous cannula, surgical cast, surgical sutures, and stents.
Shape Memory Polymer Market - Snapshot
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Growth
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24.5% for the next five years
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Major Material Type
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Polyurethane
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Major Application Type
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Research & Development
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Major End-use Industry Type
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Biomedical
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Region with the highest demand
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North America
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Key Players
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Asahi Kasei Corporation, Composite Technology Development Inc., Cornerstone Research Group, DowDuPont Inc., EndoShape, Lubrizol MedShape, Inc., Nanoshel LLC, Shape Memory Medical Inc., SMP Technologies Inc., and Others.
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Segments' Analysis

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Shape Memory Polymer Market Share: By Material Type
Based on the material type, the market is segmented as polyurethane, polyvinyl chloride, acrylic, epoxy, and others. Polyurethane to remain the largest material type during the forecast period with extensive usage in biomedical application. Other materials include PEEK, polyethylene, bio-PDO, etc.
Shape Memory Polymer Market Share: By Application Type
Based on the application type, the market is segmented as research & development and commercial. Research & development to dominate the market during the forecast period, whereas commercial application to register the fastest growth with the commercialization of materials under development.
Shape Memory Polymer Market Share: By End-Use Industry Type
Based on the end-use industry type, the market is segmented as biomedical, automotive, aerospace, textile, and others. Biomedical to remain the dominant end-use industry during the forecast period. Shape memory polymers are used in automotive industry for manufacturing actuators and automatic chokes for engines. They are also used as protective covers for automotive assembly lines and damping materials.
Shape Memory Polymer Market Share: By Region
In terms of regions, North America is estimated to be the largest shape memory polymer market during the forecast period. The region has a larger number of manufacturers, researchers and filed patents. Asia-Pacific to depict gradual adoption of shape memory polymers in China and South Korea’s biomedical device manufacturing industry.

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Market Scope & Segmentation
Shape memory polymer is a polymeric smart material that can return to its original permanent state when subjected to external stimulus such as magnetic field, light, temperature, electricity, and chemical external. It possesses properties such as light weight, low density, good shape recovery, and ease of processing.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Shape Memory Polymer Market Research Report – Features
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Market Segmentation
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4
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Regions Covered
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4
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Countries/Sub-Regions Covered
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17
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No. of Figures & Tables
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>80
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Company Profiles
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10
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The shape memory polymer market is segmented into the following categories.
Shape Memory Polymer Market Size, Share, & Forecast, by Material Type:
- Polyurethane (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Polyvinyl Chloride (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Acrylic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Shape Memory Polymer Market Size, Share, & Forecast, by Application Type:
- Research & Development (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Commercial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Shape Memory Polymer Market Size, Share, & Forecast, by End-Use Industry Type:
- Biomedical (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Textile (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Shape Memory Polymer Market Size, Share, & Forecast, by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the material type by end-use industry.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com