According to a new report, published by KBV research, The Global Shape Memory Polymer Market size is expected to reach $4.5 billion by 2030, rising at a market growth of 22.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 281.66 Kilo Tonnes, experiencing a growth of 19.8% (2019-2022).
The Medical segment is registering the maximum revenue in the Global Shape Memory Polymer Market by End-use in 2022; thereby, achieving a market value of $1.4 billion by 2030. One of the significant contributions of SMPs to the medical field is in drug delivery systems. Protection-responsive drug delivery is a field of study in which pharmaceutical companies and researchers are investigating shape memory polymers. Such materials can be programmed to release drugs at anatomical locations in response to external stimuli or environmental conditions.
The Epoxy segment is experiencing a CAGR of 22.9% during (2023 - 2030). Epoxy-based shape memory polymers offer a high degree of versatility regarding their chemical composition and formulation. Epoxy-based SMPs can be modified by researchers to conform to application specifications, rendering them applicable to various industries and objectives. Epoxy compounds are renowned for their exceptional durability and mechanical strength. These factors will boost the demand in the segment.
The North America region is generating highest revenue in the Global Shape Memory Polymer Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.5 billion by 2030. The Asia Pacific region is anticipated to grow at a CAGR of 23.1% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 22.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/shape-memory-polymer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of SMP Technologies Inc., Lubrizol Corporation (Berkshire Hathaway, Inc.), Evonik Industries AG (RAG-Stiftung), Spintech Holdings Inc., DJO Global (Enovis Corporation), Nanoshel (UK) Limited, BASF SE, and Covestro AG
By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Material (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
Companies Profiled
Unique Offerings 
