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Shape Memory Alloys Market Size, Share Global Analysis Report, 2020–2026

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Shape Memory Alloys Market By Type (Nickel-Titanium (Nitinol) Alloys, Copper-Based Alloys, and Others) and By Application (Biomedical, Automotive, Aerospace & Defense, Consumer Electronics & Household, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026

Industry Insights

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the shape memory alloys industry. The report analyzes and declares the historical and current trends analysis of the shape memory alloys industry and subsequently recommends the projected trends anticipated to be observed in the shape memory alloys market during the upcoming years.

The shape memory alloys market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire shape memory alloys market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the shape memory alloys industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the shape memory alloys industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the shape memory alloys market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the shape memory alloys industry. The shape memory alloys market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Shape Memory Alloys sector. Key strategic developments in the shape memory alloys market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the shape memory alloys market are appropriately highlighted in the report.

Rising disposable income has raised the demand for home appliances such as furnaces, coffee makers, and refrigerators will foster the market growth. Shape memory alloys are highly used in these appliances owing to properties improved elasticity (SE) and shape memory effect (SME). Moreover, growing adoption of SMEs by aerospace sector owing to their advantageous properties such as high mechanical strength, and fatigue resistance, is booming the market. However, frequent changes in prices of raw materials of shape memory alloys are expected to curb the market growth. In the upcoming years, the increasing demand for such alloys products from emerging economies will lead to a significant demand and supply imbalance.

The shape memory alloys market research report delivers an acute valuation and taxonomy of the shape memory alloys industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the shape memory alloys industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the shape memory alloys industry is provided for the leading economies of the world.

The shape memory alloys market is segmented based on type and application. On the basis of type segmentation, the market is classified into nickel-titanium (nitinol) alloys, copper-based alloys, among others. In terms of Application segmentation, the market is bifurcated into biomedical, automotive, aerospace & defense, consumer electronics & household, and others.

Some of the essential players operating in the shape memory alloys market, but not restricted to include Nitinol Devices & Components, SAES Getters, G.RAU GmbH & Co. KG, ATI, Johnson Matthey, Fort Wayne Metals, Furukawa Electric, Nippon Steel & Sumitomo Metal, Nippon Seisen, Metalwerks PMD, Ultimate NiTi Technologies, Dynalloy, PEIER Tech, and Baoji Seabird Metal among others.

logoThe taxonomy of the shape memory alloys industry by its scope and segmentation is as follows:

logo By Type Segmentation Analysis

  • Nickel-Titanium (Nitinol) Alloys
  • Copper-Based Alloys
  • Others

logo By Application Segmentation Analysis

  • Biomedical
  • Automotive
  • Aerospace & Defence
  • Consumer Electronics & Household
  • Others

logo Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

logoKey Insights from Primary Research

  • As per our primary respondents, the global shape memory alloys market is set to grow annually at a rate of around 12%
  • It was established through primary research that the shape memory alloys market was valued at around USD 10 Billion in 2019
  • Presently, the United States and Europe are holding the largest revenue share among all the regions and is further expected to maintain its position throughout the forecast period.
  • On basis of application segment, ‘aerospace industry’ dominated the global shape memory alloys market in 2019.
  • The global shape memory alloys market is expected to reach around USD 20.9 Billion by 2026.

logoKey Recommendations from Analysts

  • As per our analysts, the global shape memory alloys market is expected to grow significantly over the forecast period.
  • The strategic and competitive advantage provided by the shape memory alloys in aerospace industry is anticipated to be the key factor driving this market globally.
  • As per analysts, the use of shape memory alloys in automotive will boost the sales of shape memory alloys.
  • Our team of analysts has identified, that increasing demand for home appliances will support the growth of the market.
  • U.S. is expected to be the fastest growing market for shape memory alloys during the years to come due to on-going research & development activities coupled with strong support of U.S. Government.

Industry Major Market Players

  • Nitinol Devices & Components
  • SAES Getters
  • G.RAU GmbH & Co. KG ATI
  • Johnson Matthey
  • Fort Wayne Metals
  • Furukawa Electric
  • Nippon Steel & Sumitomo Metal
  • Nippon Seisen
  • Metalwerks PMD
  • Ultimate NiTi Technologies
  • Dynalloy
  • PEIER Tech
  • Baoji Seabird Metal

Frequently Asked Questions

Strict enforcement of laws by government authorities mandating Shape Memory Alloys Market.
According to Facts and Factors research report, the global Shape Memory Alloys Market accrued earnings worth approximately XX (USD Billion) in 2020 and is predicted to gain revenue of about XX(USD Billion) by 2028, is set to record a CAGR of nearly XX% over the period from 2021 to 2028.
North America will contribute lucratively towards the global market value over the estimated timeline. The regional market surge is subject to large-scale presence of giant participants in countries such as the U.S. Apart from this, favorable compensation policies along with high acceptance of new Shape Memory Alloys Market will drive regional market trends. With regional governments enforcing strict laws pertaining to drug abuse, the market for Shape Memory Alloys Market in North America is set to witness exponential growth over years to come. Legalization of cannabis in countries such as Canada and U.S. through passing of acts in parliament is likely to enlarge scope of Shape Memory Alloys Market in North America over coming decade.