The global shape memory alloys market exhibited strong growth during 2015-2020.
Shape memory alloys (SMA) are various metallic elements that exhibit both pseudoelasticity and shape memory effect in response to changes in temperature and electromagnetic force. They can regain their original form after deformation and can also alter their stiffness, natural frequency, position and other mechanical properties. Alloys of nickel-titanium or nitinol, copper-zinc-aluminum, copper-aluminum-nickel and iron-manganese-silicon are the most common types of SMAs available in the market. They also exhibit high fatigue resistance, super-elasticity and biocompatibility, owing to which they are used in the production of actuators, medical devices, heat detection devices and various high-temperature motors and automobiles.
The growing automotive industry is one of the key factors driving the growth of the market. Furthermore, significant developments in other industry verticals, such as robotics, biomedical, civil, defense and aerospace, are also contributing to the market growth. With the growing adoption of consumer electronics across the globe, there is an increasing preference for SMAs that can be stretched or bent as per the requirement of the consumer. Additionally, increasing preference for nitinol alloys is acting as another growth-inducing factor. In the medical sector, SMAs are utilized in the production of medical implants, such as stents, dental wires, orthopedic screws and other surgical equipment. Other factors, including the growing product adoption in the aerospace sector, increasing defense expenditures by the governments of both developed and emerging economies and significant growth in the construction industry, are projected to drive the market in the upcoming years. Looking forward, the analyst expects the global shape memory alloys market to grow at a CAGR of around 11% during the forecast period (2021-2026).
Breakup by Alloy Type: Nickel-Titanium Copper-Based Alloys Iron-Manganese-Silicon Others
Breakup by End-Use Industry: Biomedical Aerospace & Defense Automotive Consumer Electronics & Home Appliances Others
Breakup by Application: Laser Motors and Actuators Transducers Structural Material Sensors Others
Breakup by Region: North America United States Canada Asia Pacific China Japan India South Korea Australia Indonesia Others Europe Germany France United Kingdom Italy Spain Russia Others Latin America Brazil Mexico Argentina Columbia Chile Peru Others Middle East and Africa Turkey Saudi Arabia Iran United Arab Emirates Others
Competitive Landscape: The competitive landscape of the industry has also been examined with some of the key players being Allegheny Technologies, ATI Specialty Alloys & Components, Dynalloy Inc., Euroflex Gmbh, Fort Wayne Metals, G. Rau GmbH & Co. KG, Metalwerks Inc, Nippon Steel Corporation, SAES Getters, The Furukawa Electric Co. Ltd., TiNi Aerospace Inc., Ultimate Niti, etc.
Key Questions Answered in This Report: How has the global shape memory alloys market performed so far and how will it perform in the coming years? What are the key regional markets? Whta has been the impact of COVID-19 on the global shape memory alloys market? What is the breakup of the market based on the alloy type? What is the breakup of the market based on the end-use industry? What is the breakup of the market based on the functionality type? What is the breakup of the market based on the application? What are the various stages in the value chain of the industry? What are the key driving factors and challenges in the market? What is the structure of the global shape memory alloys market and who are the key players? What is the degree of competition in the market?
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120 pages •
By Infiniti Research Limited
• Jun 2021
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