Global Shape Memory Alloys Market Growth 2023-2029

Global Shape Memory Alloys Market Growth 2023-2029

A shape memory alloy (SMA) is an alloy that "remembers" its original shape and that when deformed returns to its pre-deformed shape when heated. This material is a lightweight, solid-state alternative to conventional actuators such as hydraulic, pneumatic, and motor-based systems. Shape-memory alloys have applications in industries including Automotive, aerospace, and biomedical and robotics. Nickel-titanium alloys have been found to be the most useful of all SMAs. Other shape memory alloys include copper-aluminum-nickel, copper-zinc-aluminum, and iron-manganese-silicon alloys. The generic name for the family of nickel-titanium alloys is Nitinol.

The data in this report include the semi-finished products (bars, Tubes, wire, pipe, etc), components and devices in shape memory alloy.

LPI (LP Information)' newest research report, the “Shape Memory Alloys Industry Forecast” looks at past sales and reviews total world Shape Memory Alloys sales in 2022, providing a comprehensive analysis by region and market sector of projected Shape Memory Alloys sales for 2023 through 2029. With Shape Memory Alloys sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Shape Memory Alloys industry.

This Insight Report provides a comprehensive analysis of the global Shape Memory Alloys landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Shape Memory Alloys portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Shape Memory Alloys market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Shape Memory Alloys and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Shape Memory Alloys.

The global Shape Memory Alloys market size is projected to grow from US$ 757.2 million in 2022 to US$ 1377.2 million in 2029; it is expected to grow at a CAGR of 1377.2 from 2023 to 2029.

Global Shape Memory Alloys key players include Nitinol Devices & Components, SAES Getters, G.RAU GmbH & Co. KG, Fort Wayne Metals, ATI Wah-chang, etc. Global top five manufacturers hold a share over 45%.

North America is the largest market, with a share about 45%, followed by Europe, and Japan, both have a share over 30 percent.

In terms of product, Nickel-Titanium is the largest segment, with a share over 75%. And in terms of application, the largest application is Medical Applications, followed by Automotive, Aircraft Applications, Home Appliance, etc.

This report presents a comprehensive overview, market shares, and growth opportunities of Shape Memory Alloys market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Nickel-Titanium

Copper Based

Fe Based

Others

Segmentation by application

Medical Applications

Aircraft Applications

Automotive

Home Appliance

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Nitinol Devices & Components

SAES Getters

G.RAU GmbH & Co. KG

ATI Wah-chang

Johnson Matthey

Fort Wayne Metals

Furukawa Electric

Nippon Steel & Sumitomo Metal

Nippon Seisen

Metalwerks PMD

Ultimate NiTi Technologies

Dynalloy

Grikin

PEIER Tech

Saite Metal

Smart

Baoji Seabird Metal

GEE

Key Questions Addressed in this Report

What is the 10-year outlook for the global Shape Memory Alloys market?

What factors are driving Shape Memory Alloys market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Shape Memory Alloys market opportunities vary by end market size?

How does Shape Memory Alloys break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.