Global Shape Memory Alloys Market Size | Industry Report and Forecast to 2020-2025

According to the latest report by IMARC Group, titled "Shape Memory Alloy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the global market reached a value of US$ 6.8 Billion in 2019.Shape memory alloys (SMAs) are metallic elements that return to their predetermined shape on heating. Owing to this, they are widely used in the manufacturing of advanced actuators, sensors and microcontrollers for automobiles. Moreover, as they offer high elasticity and resistance to corrosion, they are utilized in the production of consumer electronics, such as coffee makers, furnaces, air conditioners and refrigerators. They are also employed in the aerospace, healthcare and petroleum industries across the globe.

Request Free Sample Report: https://www.imarcgroup.com/shape-memory-alloys-market/requestsample

Owing to their excellent biocompatibility and computer tomography compatibility, SMAs are utilized in orthodontics, endodontics, orthopedics and neurosurgery. This, coupled with the increasing healthcare expenditure around the world, represents one of the major factors impelling the market growth. Moreover, due to high mechanical strength, fatigue resistance and lightweight properties, SMAs are preferred over conventional actuator systems in the aerospace industry. Apart from this, the introduction of innovations, such as wire stents and micro coils, along with the boosting sales of automobiles worldwide, are also expected to drive the market in the coming years.

Market Breakup by Application:
o Laser
o Motors and Actuators
o Transducers
o Structural Material
o Sensors
o Others

Market Breakup by End-Use Industry:
o Biomedical
o Aerospace & Defense
o Automotive
o Consumer Electronics & Home Appliances
o Others

Market Breakup by Alloy Type:
o Nickel-Titanium
o Copper-Based Alloys
o Iron-Manganese-Silicon
o Others

Market Breakup by Functionality Type:
o Super-elasticity (or Pseudoelasticity)
o Constrained Recovery
o Free Recovery
o Others

Ask Analyst and Download Full Report with List of Figure: https://www.imarcgroup.com/shape-memory-alloys-market

Other Related Report by IMARC Group:
Cat Food Market Report 2020-2025: https://www.imarcgroup.com/cat-food-market

Cell-Based Assay Market Report 2020-2025: https://www.imarcgroup.com/cell-based-assays-market

White Box Server Market Report 2020-2025: https://www.imarcgroup.com/white-box-server-market

IMARC Group
30 N Gould St
Ste R
Sheridan, Wyoming, 82801
USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800 | www.imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.