Global Shape Memory Alloy Market, By Type (Nickel-Titanium (Nitinol), Copper-Based Alloys, Iron-Manganese-Silicon (FE-MN-SI) and Others) By End-Use Industry (Biomedical, Aerospace & Defense, Automotive, Consumer Electronics & Home Appliances and Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Market Analysis: Global Shape Memory Alloy Market
The global Shape Memory Alloy market is expected to reach USD 26.87 billion by 2025, from USD 10.62 billion in 2017 growing at a CAGR of 12.3% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Shape Memory Alloy Market
Shape memory alloys are the special alloys and they return to their original shape when they are heated. They have gained a lot of attention in past few years gained much attention in the recent as this alloys have unique characteristics, properties, and application which help in addressing typical design complexities. Shape memory alloy can be broadly segmented as one way shape memory and two way shape memory. In case of one way shape memory transformation to desired shape occurs only upon heating whereas in two way shape deformation shape is remembered during both cooling and heating. There are three main type of memory alloys namely copper-zinc aluminium-nickel, copper-aluminium-nickel, and nickel-titanium (NiTi). Shape memory alloys are characteristically made by casting, using vacuum arc melting or induction melting. These are individual techniques are used to keep impurities in the alloy to a minimum and ensure the metals are well mixed. These alloys have their major application in biomedical, aerospace & defence, automotive, consumer electronics and various other Industries. For Example in medical industry it is used as an fixation devices used for osteotomies in orthopaedic surgery, in dental braces to exert constant tooth‐moving forces on the teeth and in stent grafts where it gives the ability to adapt to the shape of certain blood vessels when exposed to body temperature. The major players in the Shape memory alloys are making various developments such as launch of new products, opening new research and development centres, and new plants for contributing to the growth of the Protein Ingredients market. Many of the top firms have long been involved with export markets and have built brand recognition in foreign markets. In the year 2018 Allegheny Technologies Incorporated announced expansion of its so-thermal forging and heat treating capacities to satisfy growing demand from the aerospace jet engine market.
Major Market Drivers and Restraints:
- Rapidly growing medical implants industry
- Growing demand in aerospace & defence industry
- High growth of consumer electronics & home appliances industry.
- High Cost of Implantable Devices
Market Segmentation: Global Shape Memory Alloy Market
- The global shape memory alloy market is segmented based on, type, end-use industry and geographical segments.
- Based on type, the global shape memory alloy market is segmented into nickel-titanium (nitinol), copper-based alloys, iron-manganese-silicon (FE-MN-SI) and others.
- On the basis of end-use industry, the global shape memory alloy market is classified into biomedical, aerospace & defence, automotive, consumer electronics & home appliances and others
- Based on geography, the global shape memory alloy market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Shape Memory Alloy Market
The global shape memory alloy market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of shape memory alloy market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Shape Memory Alloy Market
Some of the major players operating in the global shape memory alloy market are – ATI Specialty Alloys & Components, SAES, Johnson Matthey, Nippon Steel & Sumitomo Metal, Furukawa Electric Company, Fort Wayne Metals, Nippon Seisen Co. Ltd., Xian Saite Metal Materials Development Company Limited, Seabird Metal Material Co., Ltd., Dynalloy Inc, Metalwerks PMD, Ultimate Niti Technologies, General Research Institute for Nonferrous Metals (GRINM), Euroflex GmbH, Confluent Medical Technologies, Precision Castparts Corp., Nanoshel LLC, Stanford Advanced Materials, Sunrise Titanium Technology, Boston Centerless, Microgroup Inc., Sma Wires India, ALB Materials Inc., M & T (Taiwan) Co., Ltd., Hangzhou Ualloy Material Co., Ltd among others.
Research Methodology: Global Shape Memory Alloy Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others