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Shape Memory Alloy Trends and Forecast
The future of the global shape memory alloy market looks promising with opportunities in the biomedical, automotive, aerospace & defense, and consumer electronics & household markets. The global shape memory alloy market is expected to reach an estimated $15 billion by 2030 with a CAGR of 7.8% from 2024 to 2030. The major drivers for this market are growing investment in the aerospace & defense industry, increasing utilization of nitinol-based SMAs in various end-use industries, and rising penetration of SMAs in the automotive industry.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Shape Memory Alloy by Segment
The study includes a forecast for the global shape memory alloy by product, end use, and region.
Shape Memory Alloy Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Nickel-Titanium (Nitinol) Alloys
• Copper-Based Alloys
• Others
Shape Memory Alloy Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Biomedical
• Automotive
• Aerospace & Defense
• Consumer Electronics & Household
• Others
Shape Memory Alloy Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Shape Memory Alloy Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies shape memory alloy companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the shape memory alloy companies profiled in this report include-
• Allegheny Technologies
• DYNALLOY
• EUROFLEX
• Fort Wayne Metals
• Metalwerks
• Nippon Steel Group
• SAES Getters
Shape Memory Alloy Market Insights
Lucintel forecasts that nickel-titanium (nitinol) alloys will remain the larger segment over the forecast period due to growing investments in R&D to develop advanced nitinol products, such as specialty guidewire, wire stents, and micro-coils.
Within this market, biomedical is expected to witness the highest growth due to increasing demand for SMEs in orthodontics, endodontics, orthopedics, and neurosurgery.
North America is expected to witness highest growth over the forecast period due to significantly growing biomedical, automotive, and aerospace industries in the region.
Features of the Global Shape Memory Alloy Market
Market Size Estimates: Shape memory alloy market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Shape memory alloy market size by product, end use, and region in terms of value ($B).
Regional Analysis: Shape memory alloy market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, end uses, and regions for the shape memory alloy market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the shape memory alloy market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the shape memory alloy market size?
Answer: The global shape memory alloy market is expected to reach an estimated $15 billion by 2030.
Q2. What is the growth forecast for shape memory alloy market?
Answer: The global shape memory alloy market is expected to grow with a CAGR of 7.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the shape memory alloy market?
Answer: The major drivers for this market are growing investment in the aerospace & defense industry, increasing utilization of nitinol-based SMAs in various end-use industries, and rising penetration of SMAs in the automotive industry.
Q4. What are the major segments for shape memory alloy market?
Answer: The future of the shape memory alloy market looks promising with opportunities in the biomedical, automotive, aerospace & defense, and consumer electronics & household markets.
Q5. Who are the key shape memory alloy market companies?
Answer: Some of the key shape memory alloy companies are as follows:
• Allegheny Technologies
• DYNALLOY
• EUROFLEX
• Fort Wayne Metals
• Metalwerks
• Nippon Steel Group
• SAES Getters
Q6. Which shape memory alloy market segment will be the largest in future?
Answer: Lucintel forecasts that nickel-titanium (nitinol) alloys will remain the larger segment over the forecast period due to growing investments in R&D to develop advanced nitinol products, such as specialty guidewire, wire stents, and micro-coils.
Q7. In shape memory alloy market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period due to significantly growing biomedical, automotive, and aerospace industries in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the shape memory alloy market by product (nickel-titanium (nitinol) alloys, copper-based alloys, and others), end use (biomedical, automotive, aerospace & defense, consumer electronics & household, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Shape Memory Alloy Market, Shape Memory Alloy Market Size, Shape Memory Alloy Market Growth, Shape Memory Alloy Market Analysis, Shape Memory Alloy Market Report, Shape Memory Alloy Market Share, Shape Memory Alloy Market Trends, Shape Memory Alloy Market Forecast, Shape Memory Alloy Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Shape Memory Alloy Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Shape Memory Alloy Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Shape Memory Alloy Market by Product
3.3.1: Nickel-Titanium (Nitinol) Alloys
3.3.2: Copper-Based Alloys
3.3.3: Others
3.4: Global Shape Memory Alloy Market by End Use
3.4.1: Biomedical
3.4.2: Automotive
3.4.3: Aerospace & Defense
3.4.4: Consumer Electronics & Household
3.4.5: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Shape Memory Alloy Market by Region
4.2: North American Shape Memory Alloy Market
4.2.2: North American Shape Memory Alloy Market by End Use: Biomedical, Automotive, Aerospace & Defense
, Consumer Electronics & Household
, and Others
4.3: European Shape Memory Alloy Market
4.3.1: European Shape Memory Alloy Market by Product: Nickel-Titanium (Nitinol) Alloys, Copper-Based Alloys, and Others
4.3.2: European Shape Memory Alloy Market by End Use: Biomedical, Automotive, Aerospace & Defense
, Consumer Electronics & Household
, and Others
4.4: APAC Shape Memory Alloy Market
4.4.1: APAC Shape Memory Alloy Market by Product: Nickel-Titanium (Nitinol) Alloys, Copper-Based Alloys, and Others
4.4.2: APAC Shape Memory Alloy Market by End Use: Biomedical, Automotive, Aerospace & Defense
, Consumer Electronics & Household
, and Others
4.5: ROW Shape Memory Alloy Market
4.5.1: ROW Shape Memory Alloy Market by Product: Nickel-Titanium (Nitinol) Alloys, Copper-Based Alloys, and Others
4.5.2: ROW Shape Memory Alloy Market by End Use: Biomedical, Automotive, Aerospace & Defense
, Consumer Electronics & Household
, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Shape Memory Alloy Market by Product
6.1.2: Growth Opportunities for the Global Shape Memory Alloy Market by End Use
6.1.3: Growth Opportunities for the Global Shape Memory Alloy Market by Region
6.2: Emerging Trends in the Global Shape Memory Alloy Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Shape Memory Alloy Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Shape Memory Alloy Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Allegheny Technologies
7.2: DYNALLOY
7.3: EUROFLEX
7.4: Fort Wayne Metals
7.5: Metalwerks
7.6: Nippon Steel Group
7.7: SAES Getters
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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