Press release
Shape Memory Alloys Market Report 2024: Strategies And Recent Developments
Shape Memory Alloys Market
The Business Research Company offers in-depth market insights through Shape Memory Alloys Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The shape memory alloys market size has grown rapidly in recent years. It will grow from $12.84 billion in 2023 to $14.37 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to aerospace industry adoption for applications like actuators and valves, growing use in medical devices for minimally invasive surgeries, expansion in the automotive industry for smart materials and components, increased demand in consumer electronics for shape memory alloy actuators, growing demand for biomedical applications.
The shape memory alloys market size is expected to see rapid growth in the next few years. It will grow to $22.01 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to growth of the smart materials market, with smas, expansion in the energy sector, increasing adoption in structural engineering, surge in demand for shape memory alloys in the defense and security sector, growing emphasis on sustainability. Major trends in the forecast period include advancements in biomedical engineering, development of novel industrial applications in robotics and automation, miniaturization of shape memory alloy components for portable devices, integration of shape memory alloys in wearable technology for enhanced functionality, research and development focus on new shape memory alloy compositions for improved properties.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=6263&type=smp
Market Segmentation:
The shape memory alloys market covered in this report is segmented -
1) By Product Type: Sheets, Wires, Tubes, Rods, Springs
2) By Material: Nickel-Titanium, Copper-based, Iron-based, Silver-based, Gold-based, Cobalt-based
3) By End-Use Industry: Biomedical, Aerospace And Defence, Automotive, Consumer Electronics, Home Appliances
Major Driver - Elevated Demand In Aerospace And Defense Industry Drives Shape Memory Alloys Market Growth
The rapidly growing aerospace and defense industry is significantly contributing to the growth of the shape memory alloys market. The aerospace and defense industry is involved in designing, manufacturing, and developing advanced space systems, aircraft, and defense capabilities. Shape memory alloys have an elastic modulus and a degree of strength enough for parts, structural members, and complexity of a system making it light and highly reliable it can reduce drag throughout the flight and improve overall performance offering direct benefits for passengers. The growing aerospace and defense sector due to demand for advanced infrastructure will propel the use of shape memory alloys. For instance, according to India Brand Equity Foundation, the aerospace and defense sector will reach $70 billion by 2030 due to demand for advanced infrastructure. Therefore, the rapidly growing aerospace and defense industry will promote the growth of the shape memory alloys market.
Competitive Landscape:
Major companies operating in the shape memory alloys market report are SAES Getters SpA, Nippon Steel Corp., Fort Wayne Metals Research Products Corp., Xi'an Saite Metal Materials Development Co. Ltd., Dynalloy Inc., Allegheny Technologies Incorporated, Johnson Matthey Plc, Furukawa Electric Co. Ltd., Baoji Seabird Metal Materials Co. Ltd., Metalwerks Inc., G. RAU GmbH & Co. KG, Admedes Schuessler GmbH, Memry Corporation, ALB Materials Inc., Seabird Metal Material Co. Ltd., Ultimate Niti Technologies Inc., GRIKIN Advanced Materials Co. Ltd., Nitinol Devices & Components Inc., Peiertech, Smart Ltd., Endosmart GmbH, Euroflex Fibek Ltd., Kellogg's Research Labs LLC, Confluent Medical Technologies India Pvt. Ltd., Kinalco Inc., E. T. O. Engineering GmbH, Consolidated Aerospace Manufacturing, Aerofits Products Inc., Ingpuls GmbH, PPG Industries Inc.
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/shape-memory-alloys-global-market-report
Top Trend - Strategic Partnerships And Collaborations Drive Innovation In The Shape Memory Alloys Market
Strategic partnerships and collaborations are the key trends gaining popularity in the shape memory alloys market. Major players operating in the market are partnering and collaborating to develop a strong product portfolio and offer innovative products. For instance, in January 2021, Nextremity Solutions, a US-based company, partnered with Fort Wayne Metals to supply magnesium-based alloys for use in orthopedic implants. Through this partnership, Nextremity Solutions will develop an orthopedic product portfolio, obtain regulatory clearance, conduct research and development, and establish in-house manufacturing procedures to supply products by leveraging the benefits of Fort Wayne Metals' materials. Fort Wayne Metals is a US-based company that develops shape-memory alloys.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Shape Memory Alloys Market Characteristics
3. Shape Memory Alloys Market Trends And Strategies
4. Shape Memory Alloys Market - Macro Economic Scenario
5. Shape Memory Alloys Market Size And Growth
…..
27. Shape Memory Alloys Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Shape Memory Alloys Market Report 2024: Strategies And Recent Developments here
News-ID: 3417338 • Views: …
More Releases from The Business research company
Evolving Market Trends In The Integrated Geophysical Services Industry: Enhancin …
The Integrated Geophysical Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Integrated Geophysical Services Market Size During the Forecast Period?
The integrated geophysical services market has experienced consistent growth in recent years, expected to rise from $2.35 billion in 2024 to…
Global HR Advisory Services Market: Key Trends, Market Share, Growth Drivers, An …
The HR advisory services market report describes and explains the HR advisory services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global HR advisory services market reached a value of nearly $155.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.22% since…
High Voltage Aluminium Electrolytic Capacitors Global Market Report 2025: Size, …
The high voltage aluminum electrolytic capacitors report describes and explains the high voltage aluminum electrolytic capacitors market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global high voltage aluminum electrolytic capacitors market reached a value of nearly $4.10301 billion in 2024, having grown at a compound annual growth…
Global Vertical Market Software Market: Key Trends, Market Share, Growth Drivers …
The vertical market software report describes and explains the vertical market software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global vertical market software market reached a value of nearly $152.61027 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.11% since 2019.…
More Releases for Shape
Body Shape Management Market
According to Market Research Intellect, the global Body Shape Management market under the Internet, Communication and Technology category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The body shape management market is experiencing strong growth, driven by rising health consciousness and the growing…
Major Market Shift in Shape Memory Foam Industry: Innovative Advancements In The …
What Is the Forecasted Market Size and Growth Rate for the Shape Memory Foam Market?
The market size for shape memory foam has experienced swift expansion of late. Its progression is projected to rise from $10.54 billion in 2024 to $12.11 billion in 2025, with a compound annual growth rate (CAGR) of 14.8%. Factors that contributed to the growth during the historical period include increased disposable incomes, expansion of the wellness…
An appealing shape
The markilux MX-2 full cassette awning wins design award
Its appearance is minimalistic. Its shape clear and svelte. We're talking about a cassette awning - the MX-2. The new model from manufacturer markilux was rewarded for its understated, elegant look with the "German Design Award" 2022.
Before the MX-2 even hit the streets, the awning already had its first award in the bag: the "German Design Award" 2022. This award has been…
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…
Retrieve Parent Visio Shape of Recent Sub-Shape & Apply Usage Based License usin …
What’s new in this release?
Aspose team is pleased to announce the new release of Aspose.Diagram for .NET 17.2.0. The new licensing mechanism will be used along with the existing licensing method. Aspose clients who want to be billed based on the usage of the API features can use the metered licensing. Developers can also retrieve the parent shape on manipulating the recent shape as well as verify a shape, whether…
Retrieve/Edit ActiveX Control from Shape Object & Insert Text Shape in Visio Pag …
What’s new in this release?
Aspose team is pleased to announce the new release of Aspose.Diagram for .NET 16.11.0. The new version of the API allows developers to insert a text shape in the Visio diagram. Developers can also now retrieve an ActiveX control to edit all its available properties. This month’s release also improves performance in converting VSD diagrams to PDF format and covers a number of regular bug fixes…
