형상 기억 재료 시장 - 예측(2024-2029년)

The shape memory materials market is anticipated to grow at a compound annual (CAGR) of 10.78% during the forecast period (2024-2029).

Shape memory materials are useful in multiple end-user industries. The memory materials could regain their original shape after distortion under the right stimulus. The property of returning to their original shape after distortion is known as the shape memory effect (SME). Superelasticity or visco-elasticity is also commonly observed under certain conditions for these materials. These material properties are useful applications in places where high pressure and durability are required. The major driving factors behind the shape memory materials market's growth are increasing demand from the fields of aerospace and aeronautics, the building and construction industry, and the automotive sector. The innovative application of these materials in the healthcare sector also drives the market.

One such material is Nitinol, which is a shape memory alloy. The material is superelastic, which is more than the traditional materials' performance, and provides engineers with an extremely tough, lightweight material capability that could be functional across a wide range of temperatures and conditions.

• One possible field of application is building and construction. Where these materials are used in the repair, reconstruction, construction, etc. In China, according to the estimates, overall investment in new infrastructure from 2021 to 2025 would likely reach 27 trillion yuan ($ 4.2 trillion). Giving importance to the construction material industry that would be in demand.

SHAPE MEMORY MATERIALS MARKET DRIVERS:

• Growing applications from the construction and building industry

One of the structural challenges of building and construction lies in developing a structure that can withstand natural calamities like earthquakes, floods, and hurricanes. These structures must not collapse under any circumstances. Shape memory is used not only for construction but also for repair and reinforcement after years of wear and damage. These materials are required for superelasticity under movement in both directions. They could be used in different ways to prevent deformations or construction.

In 2022, construction spending in the United States was US$22,808,140 million and became US$24,260,341 million in 2023. This growth explains the dynamics of the industry. The demand for construction would not only increase employability but also the overall demand for raw materials in the sector. With the upcoming innovative and solution-based application of shape memory materials, the demand will likely increase.

• Increasing applications in the aerospace industry

The components and mechanisms in aerospace and aeronautics are complex and sophisticated in application. Thus, shape-memory materials shape the wings or the morphed structure for flying. One such company is Nimesis, which provides shape-memory alloys for satellite launchers and their equipment manufacturers. They provide material with superelasticity, shape memory, high-temperature alloys, and very low-temperature alloys and are available in different forms. Common shape memory alloys offered are CuAlNi, NiTi, CuAlBe, NiTiCo, NiTiHf, NiTiCu, and NiTiNb, among others.

Moreover, the use of shape memory materials has been increasing due to their low weight ratio, which can easily reduce fuel consumption and save costs to a significant level. The growing aviation sector and increasing air traffic every year could help to grow the demand for aircraft and their related maintenance parts for changes, which would increase the demand for shape memory materials.

Furthermore, the growing demand for drones in multiple aspects of the application, especially in the defense sector, unmanned aerial vehicles (UAVs) are specially designed for long flight hours, considering the shape memory materials used in the proper application in the field, the demand for these materials would grow.

• Demand from multiple industries

Shape memory materials have been a growing application in the textile and fashion industry due to their shape-changing behavior due to stimuli like heat, light, infrared radiation, submersion in water, and electric or magnetic fields. Material such as thermo-formable yarn has a shape-changing property when there is a temperature change. It hardens when the temperature is lower. It becomes soft when applied to high temperatures. It can be made flexible and rigid accordingly. This behavior of the material is likely to drive the attention of fashion enthusiasts, who are trying to experiment with the new materials.

Moreover, Shape Memory Medical Inc. developed customizable shape memory polymers for endovascular applications in June 2024. It uses a novel-shaped memory polymer, a proprietary, porous, radiolucent, and embolic scaffold that is crimped for catheter delivery and self-expands upon contact with blood. They announced the first patient treated in the AAA-SHAPE Pivotal Trial. This showcased the growing use of shape memory materials in the healthcare sector and put perspective into the evolving role of shape memory materials in healthcare.

• The Asia Pacific region will dominate the shape memory materials during the forecast period.

The region has countries like China, Japan, India, and South Korea. These countries have the largest economies in the region and the world. Developing economies like India are showing robust demand and development in various sectors, such as aeronautics and the aviation industry.

In India, operators added 112 aircraft, a total of 771 aircraft by December 2023. This induction of the new aircraft is in line with maintaining the increased air traffic and growing demand for air traffic in the country. According to Boeing India, the estimated demand for the single-aisle commercial airplane in India would be 2,320 by 2042. These figures suggest the relative demand for shape memory materials in the aviation industry to meet this growing demand.

Furthermore, China has become the global center for expanding the electric vehicle market by becoming the largest consumer of electric vehicles, according to the IEA (International Energy Agency). China has a significant international share in the manufacturing sector. Thus drawing demand for the raw materials used, such as shape memory materials. The application of shape memory materials has been tremendous in the manufacturing of medical devices. Thus, the demand for shape memory materials would increase in China, being the world's one of the largest producers of healthcare devices.

Shape memory materials market restraints:

• The most common challenge faced when applying shape memory materials is when it is needed to design and apply complex shapes. Various organizations find it challenging to judge which material is useful for what application. This puts an extra burden on the high cost of research and development of that shape and materials.
• Further, the use of certain materials could be harmful to the environment and need recycling and changes. The environmental concern regarding the shape memory materials could make its development slower than the usual process.

Shape Memory Materials Market Key Developments:

• In June 2024, BIO INX is a leading company in bio-ink technologies. The company launched DEGRES INX in June 2024. This material can be shape changed after 3D printing and returns to its original printed shape when heated to body temperature. The material property is polyester-based, making it biodegradable. It exhibits the shape-changing property at 37°C. This is useful for complex shapes to be printed and deformed or compressed upon heating. It is again brought back by cooling below body temperature. Upon reheating, the original complex shape will be restored. The biological usage of the material includes bio-fabrication or 3D printing of cells and tissues for regenerative medicine applications.
• In March 2024, Shape Memory Medical Inc announced the investment by the new and existing members led by Earlybird Venture Capital, including HBM Healthcare Investments (Cayman) Ltd., WexMed II LLC, HBM-Medfocus LLC, and Emergent Medical Partners II, L.P. Shape Memory Medical Inc. This is a Series C financing of $38 million. The company has established itself as a shape memory polymer's proprietary company, offering low-density, porous, and embolic material. With this funding, they could accelerate the development of shape memory polymer technology for aortic and peripheral vascular markets. Shape Memory Medical Inc. is dedicated to developing devices approved in more than 25 countries in the regions of Asia, the Middle East, Europe, the Americas, and Australia.
• In June 2023, Fort Wayne Metals and NASA's Glenn Research Center in Cleveland were working together for the advancing shape memory alloy material technology for innovative rover tires, that is helpful in the agency's Artemis exploration efforts on the moon. The collaboration between the two included studying conditions on Mars for the Nitinol materials development for various lunar applications. The lunar poles pose a serious challenge for the testing, including extreme cold and unknown terrain features. Thus, Nitinol materials are tested for adaptation in the uncharted regions of the moon. Earlier, these two organizations collaborated on the engineered Nitinol materials for many aerospace applications, like the Mars rovers mission.

The shape memory materials are segmented and analyzed as follows:

By End-User Industry

• Aerospace
• Automotive
• Healthcare
• Building And Construction
• Robotics
• Other Industries

By Material Type

• Copper-based Alloys
• Nickel-based Alloys
• Nitinol
• Niobium
• Polyethylene Terephthalate
• Polyurethane Films
• Polyethylene
• Polypropylene
• Others Materials

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Rest of South America
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Middle East and Africa
• Saudi Arabia
• UAE
• Rest of the Middle East and Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Rest of Asia-Pacific

TABLE OF CONTENTS

1. INTRODUCTION

• 1.1. Market Overview
• 1.2. Market Definition
• 1.3. Scope of the Study
• 1.4. Market Segmentation
• 1.5. Currency
• 1.6. Assumptions
• 1.7. Base and Forecast Years Timeline
• 1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY

• 2.1. Research Design
• 2.2. Research Process

3. EXECUTIVE SUMMARY

• 3.1. Key Findings
• 3.2. Analyst View

4. MARKET DYNAMICS

• 4.1. Market Drivers
  • 4.1.1. Growing applications from the construction and building industry
  • 4.1.2. Increasing applications in the aerospace industry
  • 4.1.3. Demand from multiple industries
• 4.2. Market Restraints
  • 4.2.1. Technical challenges for application and the high cost of research
• 4.3. Porter's Five Forces Analysis
  • 4.3.1. Bargaining Power of Suppliers
  • 4.3.2. Bargaining Power of Buyers
  • 4.3.3. The Threat of New Entrants
  • 4.3.4. Threat of Substitutes
  • 4.3.5. Competitive Rivalry in the Industry
• 4.4. Industry Value Chain Analysis

5. SHAPE MEMORY MATERIALS MARKET BY END-USER INDUSTRY

• 5.1. Introduction
• 5.2. Aerospace
• 5.3. Automotive
• 5.4. Healthcare
• 5.5. Building and Construction
• 5.6. Robotics
• 5.7. Other Industries

6. SHAPE MEMORY MATERIALS MARKET BY MATERIAL TYPE

• 6.1. Introduction
• 6.2. Copper-based Alloys
• 6.3. Nickel-based Alloys
• 6.4. Nitinol
• 6.5. Niobium
• 6.6. Polyethylene Terephthalate
• 6.7. Polyurethane Films
• 6.8. Polyethylene
• 6.9. Polypropylene
• 6.10. Other Materials

7. SHAPE MEMORY MATERIALS MARKET BY GEOGRAPHY

• 7.1. Global Overview
• 7.2. North America
  • 7.2.1. United States
  • 7.2.2. Canada
  • 7.2.3. Mexico
• 7.3. South America
  • 7.3.1. Brazil
  • 7.3.2. Argentina
  • 7.3.3. Rest of South America
• 7.4. Europe
  • 7.4.1. United Kingdom
  • 7.4.2. Germany
  • 7.4.3. France
  • 7.4.4. Italy
  • 7.4.5. Spain
  • 7.4.6. Rest of Europe
• 7.5. Middle East and Africa
  • 7.5.1. Saudi Arabia
  • 7.5.2. United Arab Emirates
  • 7.5.3. Rest of Middle East and Africa
• 7.6. Asia-Pacific
  • 7.6.1. China
  • 7.6.2. India
  • 7.6.3. Japan
  • 7.6.4. South Korea
  • 7.6.5. Taiwan
  • 7.6.6. Thailand
  • 7.6.7. Indonesia
  • 7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

• 8.1. Major Players and Strategy Analysis
• 8.2. Market Share Analysis
• 8.3. Mergers, Acquisitions, Agreements, and Collaborations
• 8.4. Competitive Dashboard

9. COMPANY PROFILES

• 9.1. Shape memory medical
• 9.2. BASF SE
• 9.3. Covestro AG
• 9.4. Evonik Industries AG
• 9.5. Spintech Holdings Inc.
• 9.6. Fraunhofer IAP
• 9.7. Composite Technology Development Inc.
• 9.8. Dupont De Nemours, Inc.
• 9.9. Lubrizol Corporation
• 9.10. Cornerstone Research Group
• 9.11. DJO (Colfax Corporation)
• 9.12. DYNALLOY, Inc
• 9.13. Medtronic
• 9.14. Fort Wayne Metals Research Products Corp
• 9.15. SMP Technologies Inc
• 9.16. EUROFLEX GmbH
• 9.17. SAES Getters S.p.A.
• 9.18. Nimesis Technology