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Shape Memory Alloys Market

Asia-Pacific Shape Memory Alloys Market will witness over 14% CAGR up to 2025.Rising disposable income among people especially in emerging nations such as China, India, and Japan, has propelled shape memory alloys (SMA) market, owing to increased demand for automobiles and home appliances. China is regarded as the leading automobile manufacturer in the world and accounted for one-fourth of the global automobile production in the year 2018.

During the same year, South Korea and Japan together contributed to more than 12% of global automobile production. Indian automobile company also showcased a robust production growth of more than 7% in 2018. Shape memory alloys are used as actuator for transmission oil control. At below-freezing temperatures, transmission oil becomes viscous, leading to increase in discharge pressure and use of excess energy.

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Favorable initiatives undertaken by the government, policies, heavy investment from public and private entities along with improved purchasing power and change in consumer lifestyle patterns are some of the key factors fueling the automobile sector evolution across the globe. With the growth in urbanization and booming globalization by way of FDI, there is a burgeoning demand for construction materials as well as electronic items, driving shape memory alloys market forecast.

The product is extensively used in the process of vibration damping in civil construction. Shape memory alloy wires are set in intelligent reinforced concrete to seal minute cracks. With respect to electronics industry, the product finds extensive adoption in MD recorders, cameras, attitude control systems in stationary satellites among various others. Shape memory alloys industry size from copper-based products will register around 10% CAGR between 2019-2025.

Proliferating construction sector across the U.S. and BRICS countries in order to meet the constantly increasing demand for residential and commercial infrastructures, along with the presence of a robust electronics industry in APAC region will complement global shape memory alloys industry outlook. NiTi or Nitinol products are likely to dominate the market trends.

The biocompatibility and corrosion resistance of nitinol is excellent for usage and facilitates superior strength and flexibility for several applications. Additionally, the product is used in applications that require high thermal and mechanical properties, superior stability and practicability. With respect to end-users, the market is segmented into biomedical, automotive, home appliances, aerospace, and defense.

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Automotive industry is showcasing widespread usage of shape memory alloys and is used in various crucial applications such as lowering the aerodynamic force in automobiles, to monitor the flow of air in engine, in hatch vent of vehicles, among others. This segment is poised to hold approximately 15% of the total product market share by 2025.

Moreover, biomedical will also emerge as a key end-user and will witness significant growth owing to a variety of product applications like dental implants, stents, catheters, and others. With the rise in prevalence of chronic diseases there will be increasing discoveries and technological advancements in the medical device sector, positively influencing shape memory alloys consumption.

Regionally, Europe is anticipated to emerge as a profitable revenue terrain for shape memory alloys market share. The region witnesses the presence of a developed biomedical industry due to the high disposable income among people demanding advanced and reliable healthcare services. Moreover, there are many established automobile makers in Germany, ensuring a key customer base.

Partial Chapter of the Table of Content:

Chapter 3. Superconducting Materials Industry Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers Robust growth in medical industry Robust product demand in electronics industry Strong superconducting materials demand from R&D industry
3.4.2. Industry pitfalls & challenges Volatile raw material prices Limited availability of raw material
3.5. Growth potential analysis
3.6. Regulatory trends
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.7. Porter’s analysis
3.8. Competitive landscape, 2016
3.8.1. Strategy dashboard
3.9. PESTEL analysis
3.10. Regional price trends
3.10.1. Cost structure analysis
3.10.2. Raw material trends

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France is regarded as a leading manufacturer and exporter of aircrafts around the world. In 2017, the total aircraft export turnover from France was recorded at USD 50 billion.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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