Shape-memory Alloys Market Size-Share 2021, Analysis by Manufacturers, Competitive Landscape, Future Growth, Strategy and Forecast to 2027 | Nitinol Devices & Components, SAES Getters, G.RAU GmbH & Co. KG, ATI Wah-chang, Johnson Matthey
The Shape-memory Alloys Market length is anticipated to develop at a CAGR of 11.9% for 2021-2027.
The rise in customer-centricity within the aviation trade acts collectively of the key factors driving the expansion of the market. The study includes information on rising players, as well as the competitive landscape, revenue, revenue and world market share of the key manufacturers: Nitinol Devices & Components, SAES Getters, G.RAU GmbH & Co. KG, ATI Wah-chang, Johnson Matthey, Fort Wayne Metals, Furukawa Electric, Nippon Steel & Sumitomo Metal, Nippon Seisen, Metalwerks PMD, Ultimate NiTi Technologies, Dynalloy, Grikin, PEIER Tech, Saite Metal, Baoji Seabird Metal, GEE
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Extensive expansion, coupled with increasing healthcare expenditure in the biomedical sector, is likely to contribute to the demand for shape memory alloy products. As per the United Nations, the global population is expected to reach around 9.7 billion by 2050. With such a rapid increase in population, healthcare expenditure is also expected to witness incessant growth. In order to develop new medical devices, many companies have increased their R&D expenses on novel materials such as nickel-titanium (nitinol) alloys.
on the concept of varieties, the market from 2021 to 2027 is primarily split into:
on the idea of applications, the market from 2021 to 2027 covers:
North America held the largest market share of 35.2% in 2018 and is anticipated to continue its dominance over the forecast period. This is attributed to the growth of the biomedical, automotive and aerospace industries in the region, which will keep demand for shape memory alloys rising at a steady pace. As per the International Trade Administration (ITA), the U.S. is the largest consumer of medical devices and captured around 40% of the global demand in 2017. The medical device industry in the U.S. is likely to reach around USD 208 billion by 2023.
Asia Pacific is expected to witness the highest CAGR of 13.1% during the forecast period. The growth of automotive and other manufacturing industries owing to the low cost of production and easy availability of raw materials will drive regional market growth in coming years. The European market was valued at USD 3.04 billion in 2018. The segment is likely to witness significant growth over the forecast period owing to the presence of leading automotive and aerospace manufacturers in the region.
Regional Shape-memory Alloys Market (Regional Output, Demand & Forecast by Countries):
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.
In addition, the market report provides Associate in Nursing in-depth analysis of each region, conjointly has Associate in Nursing in-depth country analysis. additionally, to plug revenue, the market value report conjointly provides forecast analysis of countries and regions. A top-down demand analysis was conjointly administered.
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Key edges for Shape-memory Alloys Market:
This study contains an Associate in Nursing analytical depiction of the Shape-memory Alloys market trends with current trends and future estimations to depict the approaching investment pockets.
the worldwide market research report presents info related to key drivers, restraints, and opportunities with elaborate impact analysis.
Porter’s 5 forces analysis illustrates the efficiency of the patrons and suppliers within the Shape-memory Alloys market share.
The study conjointly contains the Shape-memory Alloys market chance that helps key players in deciding.
The leading players within the trade predict a high revenue margin from Shape-memory Alloys market returns.
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