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Shape Memory Alloys - Global Market Trajectory & Analytics

  • ID: 5030304
  • Report
  • February 2022
  • Region: Global
  • 316 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ALB Materials Inc.
  • Dynalloy Inc
  • G. Rau GmbH & Co. KG
  • Johnson Matthey
  • Memry Corporation
  • Nanoshel LLC

Global Shape Memory Alloys Market to Reach US$20 Billion by the Year 2026


Shape memory alloys (SMAs) are materials with an interesting ability to get back to their original shape following deformation upon exposure to a specific temperature. The transition of these alloys from their high-temperature stronger form to low-temperature weaker form results in a phase change in their crystal structure. The inherent phase shift allows shape memory alloys to display compelling properties like super elasticity and shape memory effect. Growth in the global market is attributable to increasing application scope along with potential use of these alloys in diverse domains. Future expansion of the market is anticipated to be also bolstered by rising uptake of these alloys in various safety devices like fire sprinklers and anti-scalding. While the market expansion was restrained by COVID-19-led disruptions and impact on primary end-use industries, shape memory alloys are poised to gain from promising scope in the medical arena. The increasing focus on new material properties for industrial applications is set to expand the scope of shape memory alloys. Commercial application of these alloys is poised to increase consistently with ongoing advances and understanding into their properties. These alloys are slated to benefit from rising attention on shape memory materials that are key components of smart composites due to their intriguing characteristics like enhanced damping capacity, pseudoelasticity and shape memory effect.

Amid the COVID-19 crisis, the global market for Shape Memory Alloys estimated at US$10.4 Billion in the year 2020, is projected to reach a revised size of US$20 Billion by 2026, growing at a CAGR of 11.5% over the analysis period. Nitinol, one of the segments analyzed in the report, is projected to grow at a 11.6% CAGR to reach US$15.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Copper-Based segment is readjusted to a revised 14.1% CAGR for the next 7-year period. This segment currently accounts for a 13.2% share of the global Shape Memory Alloys market. Nickel-titanium alloys, collectively termed as nitinol, have emerged as the most popular and useful shape memory alloys in the recent years. Nitinol is witnessing increasing acceptance in several applications in the field of robotics, military, safety and medical. In addition to medical applications, nitinol is experiencing broader adoption in robotics actuators as well as micromanipulators for stimulating motion of the human muscle.



The U.S. Market is Estimated at $3.9 Billion in 2021, While China is Forecast to Reach $3.5 Billion by 2026


The Shape Memory Alloys market in the U.S. is estimated at US$3.9 Billion in the year 2021. The country currently accounts for a 34.69% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$3.5 Billion in the year 2026 trailing a CAGR of 14.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 10.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the end of the analysis period. North America dominates market share due to strong focus of players on capacity expansions and new product development. The regional market is bolstered by notable expansion of the aerospace industry along with high medical implant demand. The Asia-Pacific market is likely to emerge as a lucrative market in the coming years on account of the presence of a sizeable automotive industry along with other manufacturing industries that are slated to create strong demand for these alloys.

Iron-Manganese Silicon Segment to Reach $1.3 Billion by 2026


In the global Iron-Manganese Silicon segment, USA, Canada, Japan, China and Europe will drive the 8.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$591.5 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$167.8 Million by the year 2026.

Select Competitors (Total 48 Featured) -

  • ALB Materials Inc.
  • Allegheny Technologies Incorporated
  • Baoji Seabird Metal Material Co., Ltd
  • Boston Centerless
  • Confluent Medical Technologies
  • Dynalloy Inc
  • Euroflex GmbH
  • Fort Wayne Metals Research Products Corp.
  • Furukawa Electric Co., Ltd,
  • G. Rau GmbH & Co. KG
  • GRINM Group Co., Ltd.
  • Hangzhou Ualloy Material Co., Ltd
  • Johnson Matthey
  • M & T Co., Ltd
  • Memry Corporation
  • Metalwerks Inc.
  • Nanoshel LLC
  • Nippon Seisen Co. Ltd.,
  • NIPPON STEEL CORPORATION
  • PEIER Tech
  • Precision Castparts Corp.
  • SAES Getters S.p.A.
  • Sma Wires India
  • Stanford Advanced Materials
  • Sunrise Titanium Technology Co. Ltd.,
  • Ultimate NiTi Technologies
Frequently Asked Questions about the Global Market for Shape Memory Alloys

What is the estimated value of the Global Market for Shape Memory Alloys?

The Global Market for Shape Memory Alloys was estimated to be valued at $10.4 Billion in 2020.

What is the growth rate of the Global Market for Shape Memory Alloys?

The growth rate of the Global Market for Shape Memory Alloys is 11.5%, with an estimated value of $20.0 Billion by 2026.

What is the forecasted size of the Global Market for Shape Memory Alloys?

The Global Market for Shape Memory Alloys is estimated to be worth $20.0 Billion by 2026.

Who are the key companies in the Global Market for Shape Memory Alloys?

Key companies in the Global Market for Shape Memory Alloys include ALB Materials Inc., Allegheny Technologies Incorporated, Baoji Seabird Metal Material Co., Ltd, Boston Centerless, Confluent Medical Technologies, Dynalloy Inc, Euroflex GmbH, Fort Wayne Metals Research Products Corp. and G. Rau GmbH & Co. KG.

FEATURED COMPANIES

  • ALB Materials Inc.
  • Dynalloy Inc
  • G. Rau GmbH & Co. KG
  • Johnson Matthey
  • Memry Corporation
  • Nanoshel LLC

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Shape Memory Alloys – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Review of the World Economy in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Shape Metal Alloys Face Notable Disruptions
  • Review of Pandemic Impact on Major End Use Markets
  • Why Investing in Materials Innovation is Vital for Countries & Their Economy
  • Implications of Materials Innovation on Core Areas of Economy
  • Shape Memory Alloys: A Prelude
  • Nitinol Emerges as Popular Shape Memory Alloy
  • Biomedical & Aerospace: Principal Segments of Shape Memory Alloys Market
  • North America Captures Majority Stake in Global Shape Memory Alloys Market
  • Market Outlook: SMAs Market Appears Poised to Maintain Good Shape
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Shape Memory Alloys Enjoy Increasing Acceptance for Biomedical Applications
  • Growing Focus Accelerated Healing for Fractured Bones to Drive SMA Application in Orthopedic Implants
  • Select Musculoskeletal Conditions - Percentage Breakdown by Age Group
  • Percentage Share Breakdown of Number of Fractures by Age Group: 2021E
  • Shape Memory Alloys in Cardiac Procedures
  • COVID-19 Weigh Heavily on Shape Memory Alloy Demand in Cardiac Care
  • US Surgical Procedure Volumes in Thousands: 2019, 2020 and 2025
  • Nickel-Titanium Alloy Holds Potential to Spark Endodontic Transformation
  • Future Scope
  • Pandemic Presents Challenging Times for Dental Market
  • Americans Choose to Defer Dental Visits amidst COVID-19: % of Dentists Recording Decline in Patient Volume (October 2020)
  • Use of AI in the Design of Shape Metal Alloys Gains Momentum
  • Additive manufacturing (AM) Widens Application Range for Nitinols
  • Shape Memory Alloys Endow Stellar Possibilities for Aerospace Industry
  • Potent Wing Applications of Shape Memory Alloys
  • SMAs to Reduce Unpleasant Airplane Noise during Descent
  • A Note on Importance of Material Innovation for Aircraft Manufacturers
  • COVID-19 Plays Spoilsport to Airlines Market Affecting SMAs Industry
  • COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
  • Staged Recovery over Long-Term to Benefit Demand
  • Global Aircraft Deliveries by Region: 2021-2040
  • Organizations Explore Application of SMAs in Space Programs
  • Global Commercial CubeSats Market in US$ Billion: 2018 and 2024
  • Number of CubeSat Launches: 2002-2020E
  • SMAs Emerge as a Compelling Option for Automotive Actuators
  • Expanding Role of Electronics in Automotive Vehicles Spurs Demand
  • Automotive Electronics as a Percentage (%) of Vehicle Production Cost for the Years 2010, 2020 & 2030
  • World Automobile Production in Million Units: 2008-2022
  • Shape Memory Alloys for Micro-Electromechanical Systems
  • Consumer Electronics to Gain from Hardware Innovations Enabled by SMAs
  • Global Opportunity for Consumer Electronics (In US$ Million) for Years 2020, 2022, 2024, 2026 and 2028
  • New Smartphone Imaging Trends Benefit the Demand for SMA Actuators
  • Global Smartphone Shipments in Million Units: 2010-2021
  • Simplifying Innovations in Household Appliance Technology
  • Rise in Home Automation (Domotics) to Support Demand for Shape Memory Alloys
  • Rising Need for Home Automation Presents Steady Growth Opportunities for Shape Memory Alloys: Global Home Automation System Market (In US$ Billion) for the Years 2020, 2022, 2024, 2026 & 2027
  • Growth in Demand for Shape Memory Alloys in Luxury Sector
  • SMAs Playing an Important Role in Offering Antiscald Protection in Showerheads Industry
  • Eyeglass Frames Get Super Elastic with SMAs
  • SMAs Drive Reliability of Fire Sprinklers in Fire Control
  • Long Shape Memory Alloy Tendons for Soft Robotic Systems with Soft Grippers
  • Robots Garner Attention as Critical Resource to Combat COVID-19 Pandemic

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

REST OF EUROPE

ASIA-PACIFIC

  • Shape Memory Alloys Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

REST OF WORLD

IV. COMPETITION

  • Total Companies Profiled: 48

A selection of companies mentioned in this report includes:

  • ALB Materials Inc.
  • Allegheny Technologies Incorporated
  • Baoji Seabird Metal Material Co., Ltd
  • Boston Centerless
  • Confluent Medical Technologies
  • Dynalloy Inc
  • Euroflex GmbH
  • Fort Wayne Metals Research Products Corp.
  • Furukawa Electric Co., Ltd
  • G. Rau GmbH & Co. KG
  • GRINM Group Co., Ltd.
  • Hangzhou Ualloy Material Co., Ltd
  • Johnson Matthey
  • M & T Co., Ltd
  • Memry Corporation
  • Metalwerks Inc.
  • Nanoshel LLC
  • Nippon Seisen Co. Ltd.
  • NIPPON STEEL CORPORATION
  • PEIER Tech
  • Precision Castparts Corp.
  • SAES Getters S.p.A.
  • Sma Wires India
  • Stanford Advanced Materials
  • Sunrise Titanium Technology Co. Ltd.
  • Ultimate NiTi Technologies