The shape memory alloys market is estimated at USD 10.62 Billion in 2017 and is projected to reach USD 18.97 Billion by 2022, at a CAGR of 12.3% from 2017 to 2022.
Shape memory alloys find applications in various end-use industries because of their unique properties, such as pseudo elasticity, kink resistance, biocompatibility, high fatigue strength, and high damping capability.
The shape memory alloys market has been classified on the basis of type into nitinol alloys, copper-based alloys, iron-manganese-silicon alloys, and others.
The North American region is expected to be the largest market for shape memory alloys across the globe, and the APAC shape memory alloys market is projected to grow at the highest CAGR between 2017 and 2022. The growth of the market in the region can be attributed to the increasing demand from consumer electronics & home appliances industries from countries in the APAC region, such as China, South Korea, Japan, and India.
Moreover, the availability of cheap labor in the APAC region and favorable government policies have attracted several global companies and investors to establish their production facilities in the region, thereby fueling the demand for shape memory alloys from various end-use industries, such as automotive, aerospace & defense, biomedical, and consumer, electronics & home appliances.
The major factors restraining the growth of the shape memory alloys market across the globe are the rising cost of raw materials of these alloys. Raw materials of shape memory alloys include metals, such as nickel, copper, titanium, aluminum, and other materials. The prices of nickel, chromium, molybdenum, cobalt, and other raw materials are on the rise. Moreover, the rising demand for these alloys from emerging economies in the APAC has led to a significant demand and supply imbalance.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Shape Memory Alloys Market
4.2 Shape Memory Alloys Market, By Type
4.3 Shape Memory Alloys Market in North America, By End-Use Industry and Country
4.4 Shape Memory Alloys Market Attractiveness
5 Market Overview
5.2 Market Dynamics
22.214.171.124 Rapidly Growing Medical Implants Industry
126.96.36.199 Growing Demand From Aerospace & Defense Industry
188.8.131.52 Rising Cost of Raw Materials
184.108.40.206 High Growth of Consumer Electronics & Home Appliances Industry
220.127.116.11 High Cost of Implantable Devices
5.3 Porter’s Five Forces Analysis
5.4 Macroeconomic Indicators
6 Shape Memory Alloys Market, By Type
6.2 Nickel-Titanium (Nitinol)
6.3 Copper-Based Alloys
6.4 Iron-Manganese-Silicon (FE-MN-SI)
7 Shape Memory Alloys Market, By End-Use Industry
7.3 Aerospace & Defense
7.5 Consumer Electronics & Home Appliances
8 Shape Memory Alloys Market, By Region
9 Competitive Landscape
9.2 Competitive Situations & Trends
9.2.2 Agreements & Partnerships
9.2.3 Joint Venture
9.2.4 Merger & Acquisition
9.2.5 New Product Development
9.2.6 Market Ranking Analysis
10 Company Profiles
10.1 ATI Specialty Alloys & Components
10.3 Johnson Matthey
10.4 Nippon Steel & Sumitomo Metal
10.5 Furukawa Electric Company
10.6 Fort Wayne Metals
10.7 Nippon Seisen Co. Ltd.
10.8 Xian Saite Metal Materials Development Company Limited
10.9 Seabird Metal Material Co., Ltd.
10.10 Dynalloy Inc.
10.11 Additional Company Profiles
10.11.1 Metalwerks PMD
10.11.2 Ultimate Niti Technologies
10.11.3 General Research Institute for Nonferrous Metals (GRINM)
10.11.4 Euroflex GmbH
10.11.5 Confluent Medical Technologies
10.11.6 Precision Castparts Corp.
10.11.7 Nanoshel LLC
10.11.8 Stanford Advanced Materials
10.11.9 Sunrise Titanium Technology
10.11.10 Boston Centerless
10.11.11 Microgroup Inc.
10.11.12 Sma Wires India
10.11.13 ALB Materials Inc.
10.11.14 M & T (Taiwan) Co., Ltd.
10.11.15 Hangzhou Ualloy Material Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/n755vn/global_shape?w=5
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