Press release
Shape Memory Alloys Market Expected to Grow at 18.8 Billion In Revenue by 2026
Global Shape Memory Alloys Market 2021-2026, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. An exclusive data offered in this report is collected by research and industry experts team.
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The global shape memory alloys market size is projected to grow from USD 11.0 billion in 2021 to USD 18.8 billion by 2026, at a CAGR of 11.2% from 2021 and 2026.. This report spread across 230 Pages, Profiling 15 Companies and Supported with 224 Tables and 65 figures are now available in this research.
Top Key Players Profiled in the Shape Memory Alloys Market:
• SAES Getters (Italy)
• ATI Specialty Alloys & Components (US)
• Furukawa Electric Co.Ltd (Japan)
• Nippon Steel & Sumitomo Metal (Japan)
• Johnson Matthey (UK)
By type, the Nitinol segment accounted for the largest share in the overall shape memory alloys market. Nitinol alloys are the largest type of SMAs, accounting for a major share of the market. The significantly growing biomedical end-use industry, especially for medical implants, is driving the demand for nitinol SMAs.
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Biomedical is the largest end-use industry of SMAs, followed by aerospace & defense. The applications of SMAs in the automotive industry will increase as the EV market is gaining traction. SMAS are widely used in dentistry applications for the manufacturing of orthodontic wires due to their shape memory properties, super-elasticity, high ductility, and resistance to corrosion. However, due to the COVID-19 pandemic in 2020, and because of social distancing, only essential services were left open.
North America is projected to have the largest share in the global shape memory alloys market, in terms of both value, from 2021 to 2026. The growth of the North American SMAs market is mainly driven by new product development and capacity expansion strategies adopted by the leading players in this region. In addition, the region is the leading market for SMAs in the biomedical industry owing to the increased demand for medical implants.
Breakdown of primary participants’ profile:
• By Company Type: Tier 1: 55%, Tier 2: 30%, and Tier 3: 15%
• By Designation: C-level Executives: 21%, Directors: 23%, and Others: 56%
• By Region: North America: 15%, Europe: 27%, Asia Pacific: 45%, South America: 7%, and Middle East & Africa: 6%.
Competitive Landscape of Shape Memory Alloys Market:
1 Key Player Strategies/ Right To Win
2 Market Share Analysis
3 Company Evaluation Quadrant
3.1 Star
3.2 Pervasive
3.3 Emerging Leader
3.4 Participant
3.4.1 Company Product Footprint
4 Startups And Small And Medium-Sized Enterprises (Smes) Evaluation Matrix
4.1 Dynamic Companies
4.2 Starting Blocks
5 Ranking Analysis Of Key Market Players, 2020
6 Competitive Scenario And Trends
6.1 Shape Memory Alloys Market: Deals, 2018-2021
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Reason to access this report:
The report is expected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall shape memory alloys market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
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