Global Shape Memory Alloy (SMA) Market 2024-2028
The shape memory alloy (SMA) market is forecasted to grow by USD 2635.2 mn during 2023-2028, accelerating AT a CAGR of 10.87% during the forecast period. The report on the shape memory alloy (SMA) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by biocompatibility of nitinol, growing application areas of shape memory alloys, and increasing use by R and D institutions in aerospace and defense and consumer products.
Technavio's shape memory alloy (SMA) market is segmented as below:
By Application
- Biomedical
- Automotive
- A and D
- Others
By Type
- Nickel-titanium
- Copper-based
- Others
By Geographical Landscape
- North America
- APAC
- Europe
- South America
- Middle East and Africa
This study identifies the development of shape memory alloys with high fatigue life as one of the prime reasons driving the shape memory alloy (SMA) market growth during the next few years. Also, development of tires with shape memory alloy and adoption of iron-based shape memory alloys in construction will lead to sizable demand in the market.
The report on the shape memory alloy (SMA) market covers the following areas:
- Shape memory alloy (SMA) market sizing
- Shape memory alloy (SMA) market forecast
- Shape memory alloy (SMA) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading shape memory alloy (SMA) market vendors that include Allegheny Technologies Inc., Boston Centerless Inc., Confluent Medical Technologies, DYNALLOY Inc, EUROFLEX GmbH, Fort Wayne Metals Research Products LLC, Furukawa Electric Co. Ltd., Hangzhou Ualloy Material Co. Ltd., Johnson Matthey PLC, LB Officine Meccaniche Spa, M and T (Taiwan) Co. Ltd., Metalwerks Inc., Nanoshel LLC, Nippon Seisen Co. Ltd, Nippon Steel Corp., Precision Castparts Corp., ResearchGate GmbH, SAES Getters Spa, and Sea Bird Scientific. Also, the shape memory alloy (SMA) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. IT presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.