North America Shape Memory Polymer Market Size, Share & Industry Trends Analysis Report By End-use (Medical, Textile, Automotive, Aerospace, Construction, and Others), By Material (Polyurethane (PU), Epoxy, Polylactide (PLA), and Others), By Country and G

North America Shape Memory Polymer Market Size, Share & Industry Trends Analysis Report By End-use (Medical, Textile, Automotive, Aerospace, Construction, and Others), By Material (Polyurethane (PU), Epoxy, Polylactide (PLA), and Others), By Country and Growth Forecast, 2023 - 2030


The North America Shape Memory Polymer Market would witness market growth of 21.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 61.15 Kilo Tonnes, showcasing a growth of 19.1% (2019-2022).

The healthcare industry has been a pioneering adopter of shape memory polymers. This includes applications in catheters, stents, and drug delivery systems, where navigating constrained spaces is crucial. In aerospace, they have applications in adaptive structures and components. Moreover, the automotive industry has embraced SMPs for various purposes, including self-healing materials, smart surfaces, and adaptive components. For instance, they can be employed in self-repairing coatings that automatically regain their original form, mitigating the impact of scratches and dings.

SMPs are revolutionizing product design and functionality in consumer goods and electronics. Applications range from smart textiles with shape-changing capabilities to adaptive eyewear frames that adjust to the user's facial contours. Integrating SMPs in consumer electronics offers flexible and responsive device opportunities, paving the way for innovative gadgets and wearables. These are significantly impacting the textile industry by enabling the development of smart fabrics with shape-changing capabilities. Alterations to these fabrics may occur due to external influences, including fluctuations in temperature or user engagements.

The construction sector in North America is increasingly exploring intelligent and adaptive materials to enhance infrastructure performance. Due to their capacity for reversible deformations, these may find utility in intelligent building materials that react to external stimuli, including temperature fluctuations, seismic activity, or structural strain. As per the data provided by the U.S Census Bureau, the seasonally adjusted annual rate of construction expenditures for September 2023 was projected to be $1,996.5 billion. Therefore, the growing construction industry in North America will help expand the regional market.

The US market dominated the North America Shape Memory Polymer Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,094.9 million by 2029. The Canada market is experiencing a CAGR of 24.4% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 23.3% during (2023 - 2030).

Based on End-use, the market is segmented into Medical, Textile, Automotive, Aerospace, Construction, and Others. Based on Material, the market is segmented into Polyurethane (PU), Epoxy, Polylactide (PLA), and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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

Scope of the Study

Market Segments covered in the Report:

By End-use (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Medical
  • Textile
  • Automotive
  • Aerospace
  • Construction
  • Others
By Material (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Polyurethane (PU)
  • Epoxy
  • Polylactide (PLA)
  • Others
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • US
  • Canada
  • Mexico
  • Rest of North America
Companies Profiled
  • 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
  • Covestro AG
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Shape Memory Polymer Market, by End-use
1.4.2 North America Shape Memory Polymer Market, by Material
1.4.3 North America Shape Memory Polymer Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. North America Shape Memory Polymer Market by End-use
4.1 North America Medical Market by Country
4.2 North America Textile Market by Country
4.3 North America Automotive Market by Country
4.4 North America Aerospace Market by Country
4.5 North America Construction Market by Country
4.6 North America Others Market by Country
Chapter 5. North America Shape Memory Polymer Market by Material
5.1 North America Polyurethane (PU) Market by Country
5.2 North America Epoxy Market by Country
5.3 North America Polylactide (PLA) Market by Country
5.4 North America Others Market by Country
Chapter 6. North America Shape Memory Polymer Market by Country
6.1 US Shape Memory Polymer Market
6.1.1 US Shape Memory Polymer Market by End-use
6.1.2 US Shape Memory Polymer Market by Material
6.2 Canada Shape Memory Polymer Market
6.2.1 Canada Shape Memory Polymer Market by End-use
6.2.2 Canada Shape Memory Polymer Market by Material
6.3 Mexico Shape Memory Polymer Market
6.3.1 Mexico Shape Memory Polymer Market by End-use
6.3.2 Mexico Shape Memory Polymer Market by Material
6.4 Rest of North America Shape Memory Polymer Market
6.4.1 Rest of North America Shape Memory Polymer Market by End-use
6.4.2 Rest of North America Shape Memory Polymer Market by Material
Chapter 7. Company Profiles
7.1 SMP Technologies Inc.
7.1.1 Company Overview
7.1.2 SWOT Analysis
7.2 Lubrizol Corporation (Berkshire Hathaway, Inc.)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.3 Evonik Industries AG (RAG-Stiftung)
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Acquisition and Mergers:
7.4 Spintech Holdings Inc
7.4.1 Company Overview
7.4.2 SWOT Analysis
7.5 DJO Global (Enovis Corporation)
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Acquisition and Mergers:
7.6 Nanoshel (Uk) Limited
7.6.1 Company Overview
7.6.2 SWOT Analysis
7.7 BASF SE
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 SWOT Analysis
7.8 Covestro AG
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expenses

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