Shape Memory Alloys Market
Shape Memory Alloys Market Study by Nitinol, Copper-based, Iron-Manganese Silicon, and Others for Biomedical, Aerospace & Defense, Automotive, Consumer Electronics, and Others from 2023 to 2033
Analysis of Shape Memory Alloys Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
FREE CustomizationShape Memory Alloys Market Outlook (2023 to 2033)
The global shape memory alloys market is estimated at $14.1 billion in 2023 and is projected to reach $45.8 billion by the end of 2033, expanding at a CAGR of 12.5% from 2023 to 2033.
Shape memory alloys are metal alloys that exhibit unique properties and are utilized in various industries. This alloy is named for its ability to retain its original shape. It is a specialized alloy that can revert to its original shape after undergoing any kind of deformation.
Shape memory alloys are specialized metal alloys that can return to their original shape. These alloys can be deformed when exposed to high temperatures and then retain their new shape when cooled to a lower temperature. This makes them very useful in various industries such as biomedical and aerospace.
- The discovery of shape memory alloys in 1951 paved the way for their potential use as actuators in various scientific fields. The nickel-titanium alloy, also known as Nitinol, was discovered in 1963 and is considered a highly efficient type of shape-memory alloy.
Copper-aluminum-nickel alloys, iron-manganese-silicon alloys, and copper-zinc-aluminum alloys are among the commonly used shape memory alloys. These alloys have two distinct phases: the low-temperature phase (martensite) and the high-temperature phase (austenite). Austenite is symmetric, whereas martensite is less symmetric. The transformation between these two phases can occur either thermally or mechanically.
Growth in the medical implants industry is expected to boost demand for shape memory alloys. The aerospace and defense industry's increasing demand for shape memory alloys will also provide profitable opportunities for market growth.
Shape memory alloys are lightweight and serve as excellent alternatives to conventional actuators, such as hydraulic, motor-based, and pneumatic systems. Actuators are materials or devices that can change their position, shape, natural frequency, stiffness, and other mechanical properties in response to changes in temperature or electromagnetic fields.
Fact.MR, a provider of market research and competitive intelligence, has recently published a research report that provides an extensive evaluation of the shape memory alloys market. The report provides a comprehensive analysis of key trends, segments, restraints, drivers, competitive landscape, and regional analysis.
| Report Attributes | Details |
|---|---|
| Market Size (2023) | USD 14.1 Billion |
| Estimated Market Value (2033) | USD 45.8 Billion |
| Forecasted Market Growth Rate (2023 to 2033) | 12.5% CAGR |
| Canada Market Growth Rate (2023 to 2033) | 11.7% CAGR |
| Germany Market Growth Rate (2023 to 2033) | 11.6% CAGR |
| Key Companies Profiled | Johnson Matthey PLC; ETO Gruppe; Memry Corporation; Kellogg’s Research Labs; Consolidated Aerospace Manufacturing; Confluent Medical Technologies; Kinalco |
Which Factors are pushing the Sales of Shape Memory Alloys?
“Increasing Use of Shape Memory Alloys in Biomedical Implants”
SMAs, particularly Nitinol, are widely used in the biomedical industry due to their biocompatibility, which makes them suitable for medical implants. The mechanical properties of implant materials are crucial in the healing process, and Nitinol's properties, including corrosion resistance, high elasticity, kink resistance, and stress consistency, make it an attractive option for medical implants.
The growing prevalence of chronic diseases and aging populations is driving the demand for life-saving medical implants. With longer life expectancies and declining fertility rates, the number of older adults is increasing, leading to a greater need for medical interventions.
- According to the United Nations, by 2025, 1 in 6 people worldwide is expected to be over 65 years of age, up from 1 in 11 in 2019.
Older individuals are more susceptible to cardiovascular and orthopedic conditions due to age-related physical changes. Surgical procedures are considered effective therapy options in the majority of these conditions, which can further propel the demand for shape memory alloys.
“Wide Applicability of Shape Memory Alloys in Consumer Electronics Industry”
The consumer electronics and home appliances industries are fueling the growing demand for shape memory alloys. These alloys have wide applications in the production of various products, including cellular phones, air conditioners, cameras, coffee makers, personal accessories, minidisc recorders, and rice cookers.
Shape memory alloys are commonly used in household applications and electrical equipment due to their superior properties, including corrosion resistance, long fatigue life, and enhanced elasticity. They are mainly used as sensors and actuators in various applications.
Shape memory alloys are widely used in various personal care accessories, such as underwire bras, eyeglass frames, and shoulder pad wires. Additionally, they are also utilized in the manufacturing of cellphone antennas and cameras, where they serve as lock switch actuators.
“Rising Use of Shape Memory Alloys in Aerospace Industry”
Shape memory alloys are gaining popularity in the aerospace industry due to their beneficial properties, including high elasticity, fatigue resistance, and low weight. Moreover, SMAs possess high mechanical strength and wear resistance, making them suitable for use in various aerospace applications, such as actuators, sensors, and structural components.
What’s Restricting the Adoption of Shape Memory Alloys?
“High Cost of Shape Memory Alloys Compared to Substitutes”
Raw materials used in the production of shape memory alloys include titanium, nickel, aluminum, and copper, whose prices are continuously increasing. Moreover, these alloys are widely used in the medical industry for surgical instruments and biomedical implants.
Stainless steel is often used as a cost-effective alternative to shape memory alloys, as the latter can be relatively expensive. Additionally, the presence of similar properties in stainless steel is expected to limit demand for SMAs.
Why is North America a Prominent Market for Shape Memory Alloys?
“Expansion of Aerospace Industry Fueling Demand for Shape Memory Alloys”
The demand for shape memory alloys is increasing in several regions globally, including North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. The North American region is expected to hold the leading revenue share, primarily due to the significant growth in the aerospace industry, which creates opportunities for regional players.
Extensive research and development in bioengineering are also contributing to opportunities in the region. The Asia Pacific and European regions hold a substantial share of the global market revenue, following North America.
Country-wise Insights
What is the Demand Outlook for Shape Memory Alloys in Japan?
“Growing Automotive Industry Fueling Demand for Shape Memory Alloys”
Sales of shape memory alloys in Japan are projected to advance at a high CAGR of 10.6% from 2023 to 2033. In the next decade, Japan is expected to provide opportunities for shape memory alloy manufacturers due to the significant growth of the automotive industry. The increased production of vehicles in Japan is projected to drive demand for shape memory alloys.
What is Expected to Drive the Sales of Shape Memory Alloys in the United States?
“Growing Demand for Shape Memory Alloys from Aerospace, Automotive, and Biomedical Industries”
Demand for shape memory alloys in the United States reached USD 4.4 billion in 2022. In North America, the United States is a significant consumer of medical devices. Besides, the demand for SMAs is also boosted by the growth of the aerospace, automotive, and biomedical industries in the country.
Sales of shape memory alloys in Canada are estimated to advance at a significant CAGR of 11.7% from 2023 to 2033.
Which European Country Accounts for the High Demand for Shape Memory Alloys?
“Rising Use of Shape Memory Alloys in Medical Industry in Germany”
The German market is forecasted to expand at a noteworthy CAGR of 11.6% through 2033. Increased utilization of shape memory alloys (SMAs) in the medical sector for various applications, such as clinical instruments, orthopedic implants, interventional radiology devices, and others, has the potential to boost their demand.
Category-wise Insights
Which Type of Shape Memory Alloy is Generating High Demand?
“High Corrosion and Impact Resistance of Nitinol Alloys Widening Their Applications in Several Industries”
Sales of Nitinol alloys are projected to grow at a significant rate through 2033 due to their high elasticity, which is typically 10 to 30 times higher than that of other metals.
Globally, the demand for Nitinol shape memory alloys is driven by their crucial properties, including biocompatibility, high fatigue strength, outstanding damping, excellent corrosion resistance, and moderate impact resistance.
Which Industry is Projected to Offer Lucrative Opportunities for Manufacturers of Shape Memory Alloys?
“Biomedical Industry Acting as Primary Driver for Sales of Shape Memory Alloys”
The growing demand for shape memory alloys worldwide is driven by various key end-users, including those in the biomedical, automotive, consumer electronics, home appliances, aerospace, defense, and other sectors.
Of these, the biomedical industry is projected to be the primary driver for the rising demand for shape memory alloys due to their widespread use in medical implantable devices. The biocompatibility, damping properties, and pseudoelasticity of SMAs are among their critical features.
Competitive Landscape
Shape memory alloy manufacturers are increasing their spending to enhance their supply chain management systems to meet the global demand for these alloys. This enables them to uphold product standards and invest in new advancements. Additionally, manufacturers are striving to comply with safety, quality control, and environmental impact regulations set by relevant bodies.
Suppliers of shape memory alloys are involved in collaborations, agreements, and partnerships to produce high-quality SMAs, thereby enhancing their product portfolio.
For instance:
- Nextremity Solutions, Inc. entered into an exclusive agreement in January 2021 with Fort Wayne Metals to commercialize implants made from magnesium alloys.
- In August 2021, Johnson Matthey and KBR agreed the licensing of its innovative production technology.
Johnson Matthey PLC, ETO Gruppe, Memry Corporation, Kellogg’s Research Labs, Consolidated Aerospace Manufacturing, Confluent Medical Technologies, and Kinalco are major producers of shape memory alloys.
Shape Memory Alloys Industry Segmentation
-
By Type :
- Nitinol
- Copper-based
- Iron-Manganese-Silicon
- Others
-
By End Use :
- Biomedical
- Aerospace & Defense
- Automotive
- Consumer Electronics & Home Appliances
- Others
-
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 6. Global Market Volume (Units) Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 7. Global Market - Pricing Analysis
- 8. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033
- 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Type
- 9.1 Nitinol
- 9.2 Copper-based
- 9.3 Iron-Manganese-Silicon
- 9.4 Others
- 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by End Use
- 10.1 Biomedical
- 10.2 Aerospace & Defense
- 10.3 Automotive
- 10.4 Consumer Electronics & Home Appliances
- 10.5 Others
- 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region
- 11.1 North America
- 11.2 Latin America
- 11.3 Europe
- 11.4 East Asia
- 11.5 South Asia
- 11.6 Oceania
- 11.7 Middle East and Africa (MEA)
- 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 15. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 17. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 18. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 19. Key and Emerging Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033
- 20. Market Structure Analysis
- 21. Competition Analysis
- 21.1 Johnson Matthey PLC
- 21.2 ETO Gruppe
- 21.3 Memry Corporation
- 21.4 Kellogg’s Research Labs
- 21.5 Consolidated Aerospace Manufacturing
- 21.6 Confluent Medical Technologies
- 21.7 Kinalco
- 22. Assumptions and Acronyms Used
- 23. Research Methodology
List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 08: Latin America Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 11: Europe Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 14: South Asia Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 17: East Asia Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 20: Oceania Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By Type
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2018 to 2033, By End Use
List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2018 to 2022
Figure 02: Global Market Volume Forecast (in 000' Units), 2023 to 2033
Figure 03: Pricing Analysis (US$) Per Type, By Region, 2022
Figure 04: Pricing Analysis (US$) Per Type, By Region, 2022
Figure 05: Global Market Value Analysis (US$ Mn), 2018 to 2022
Figure 06: Global Market Value Forecast (US$ Mn), 2023 to 2033
Figure 07: Global Market Absolute $ Opportunity, 2023 to 2033
Figure 08: Global Market Share Analysis (%), By Type, 2023 to 2033
Figure 09: Global Market Y-o-Y Analysis (%), By Type, 2023 to 2033
Figure 10: Global Market Attractiveness Analysis by Type, 2023 to 2033
Figure 11: Global Market Share Analysis (%), By End Use, 2023 to 2033
Figure 12: Global Market Y-o-Y Analysis (%), By End Use, 2023 to 2033
Figure 13: Global Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 14: Global Market Share Analysis (%), By Region, 2023 to 2033
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2023 to 2033
Figure 16: Global Market Attractiveness Analysis by Region, 2023 to 2033
Figure 17: North America Market Value Share, By Type, 2023 (E)
Figure 18: North America Market Value Share, By End Use, 2023 (E)
Figure 19: North America Market Value Share, By Country, 2023 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2018 to 2022
Figure 21: North America Market Value Forecast (US$ Mn), 2023 to 2033
Figure 22: North America Market Attractiveness Analysis by Type, 2023 to 2033
Figure 23: North America Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 24: North America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 25: Latin America Market Value Share, By Type, 2023 (E)
Figure 26: Latin America Market Value Share, By End Use, 2023 (E)
Figure 27: Latin America Market Value Share, By Country, 2023 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2018 to 2022
Figure 29: Latin America Market Value Forecast (US$ Mn), 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis by Type, 2023 to 2033
Figure 31: Latin America Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 32: Latin America Market Attractiveness Analysis by Country, 2023 to 2033
Figure 33: Europe Market Value Share, By Type, 2023 (E)
Figure 34: Europe Market Value Share, By End Use, 2023 (E)
Figure 35: Europe Market Value Share, By Country, 2023 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2018 to 2022
Figure 37: Europe Market Value Forecast (US$ Mn), 2023 to 2033
Figure 38: Europe Market Attractiveness Analysis by Type, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis by Country, 2023 to 2033
Figure 41: South Asia Market Value Share, By Type, 2023 (E)
Figure 42: South Asia Market Value Share, By End Use, 2023 (E)
Figure 43: South Asia Market Value Share, By Country, 2023 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2018 to 2022
Figure 45: South Asia Market Value Forecast (US$ Mn), 2023 to 2033
Figure 46: South Asia Market Attractiveness Analysis by Type, 2023 to 2033
Figure 47: South Asia Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 48: South Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 49: East Asia Market Value Share, By Type, 2023 (E)
Figure 50: East Asia Market Value Share, By End Use, 2023 (E)
Figure 51: East Asia Market Value Share, By Country, 2023 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2018 to 2022
Figure 53: East Asia Market Value Forecast (US$ Mn), 2023 to 2033
Figure 54: East Asia Market Attractiveness Analysis by Type, 2023 to 2033
Figure 55: East Asia Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 56: East Asia Market Attractiveness Analysis by Country, 2023 to 2033
Figure 57: Oceania Market Value Share, By Type, 2023 (E)
Figure 58: Oceania Market Value Share, By End Use, 2023 (E)
Figure 59: Oceania Market Value Share, By Country, 2023 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2018 to 2022
Figure 61: Oceania Market Value Forecast (US$ Mn), 2023 to 2033
Figure 62: Oceania Market Attractiveness Analysis by Type, 2023 to 2033
Figure 63: Oceania Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 64: Oceania Market Attractiveness Analysis by Country, 2023 to 2033
Figure 65: Middle East and Africa Market Value Share, By Type, 2023 (E)
Figure 66: Middle East and Africa Market Value Share, By End Use, 2023 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2023 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2018 to 2022
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2023 to 2033
Figure 70: Middle East and Africa Market Attractiveness Analysis by Type, 2023 to 2033
Figure 71: Middle East and Africa Market Attractiveness Analysis by End Use, 2023 to 2033
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2023 to 2033
Figure 73: UNITED STATES Market Value Analysis (US$ Mn), 2023 & 2033
Figure 74: UNITED STATES Market Value Share, By Type, 2023 (E)
Figure 75: UNITED STATES Market Value Share, By End Use, 2023 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2023 & 2033
Figure 77: Canada Market Value Share, By Type, 2023 (E)
Figure 78: Canada Market Value Share, By End Use, 2023 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2023 & 2033
Figure 80: Mexico Market Value Share, By Type, 2023 (E)
Figure 81: Mexico Market Value Share, By End Use, 2023 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2023 & 2033
Figure 83: Brazil Market Value Share, By Type, 2023 (E)
Figure 84: Brazil Market Value Share, By End Use, 2023 (E)
Figure 85: UNITED KINGDOM Market Value Analysis (US$ Mn), 2023 & 2033
Figure 86: UNITED KINGDOM Market Value Share, By Type, 2023 (E)
Figure 87: UNITED KINGDOM Market Value Share, By End Use, 2023 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2023 & 2033
Figure 89: Germany Market Value Share, By Type, 2023 (E)
Figure 90: Germany Market Value Share, By End Use, 2023 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2023 & 2033
Figure 92: France Market Value Share, By Type, 2023 (E)
Figure 93: France Market Value Share, By End Use, 2023 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2023 & 2033
Figure 95: Italy Market Value Share, By Type, 2023 (E)
Figure 96: Italy Market Value Share, By End Use, 2023 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2023 & 2033
Figure 98: Spain Market Value Share, By Type, 2023 (E)
Figure 99: Spain Market Value Share, By End Use, 2023 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2023 & 2033
Figure 101: Russia Market Value Share, By Type, 2023 (E)
Figure 102: Russia Market Value Share, By End Use, 2023 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2023 & 2033
Figure 104: China Market Value Share, By Type, 2023 (E)
Figure 105: China Market Value Share, By End Use, 2023 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2023 & 2033
Figure 107: Japan Market Value Share, By Type, 2023 (E)
Figure 108: Japan Market Value Share, By End Use, 2023 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2023 & 2033
Figure 110: South Korea Market Value Share, By Type, 2023 (E)
Figure 111: South Korea Market Value Share, By End Use, 2023 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2023 & 2033
Figure 113: India Market Value Share, By Type, 2023 (E)
Figure 114: India Market Value Share, By End Use, 2023 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2023 & 2033
Figure 116: ASEAN Market Value Share, By Type, 2023 (E)
Figure 117: ASEAN Market Value Share, By End Use, 2023 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2023 & 2033
Figure 119: Australia Market Value Share, By Type, 2023 (E)
Figure 120: Australia Market Value Share, By End Use, 2023 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2023 & 2033
Figure 122: New Zealand Market Value Share, By Type, 2023 (E)
Figure 123: New Zealand Market Value Share, By End Use, 2023 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2023 & 2033
Figure 125: GCC Countries Market Value Share, By Type, 2023 (E)
Figure 126: GCC Countries Market Value Share, By End Use, 2023 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2023 & 2033
Figure 128: Turkey Market Value Share, By Type, 2023 (E)
Figure 129: Turkey Market Value Share, By End Use, 2023 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2023 & 2033
Figure 131: South Africa Market Value Share, By Type, 2023 (E)
Figure 132: South Africa Market Value Share, By End Use, 2023 (E)
- FAQs -
What is the estimated valuation of the shape memory alloys market for 2023?
The shape memory alloys market stands at US$ 14.1 billion in 2023.
What is the projected growth rate for the shape memory alloys market?
The global shape memory alloys market is forecasted to expand rapidly at a CAGR of 12.5% through 2033.
What is the predicted valuation of the market for shape memory alloys?
Sales of shape memory alloys are expected to reach US$ 45.8 billion by 2033.
Which industry accounts for high sales of shape memory alloys?
The biomedical sector holds a leading position in the shape memory alloys market.
How is the demand for shape memory alloys shaping in Canada?
Demand for shape memory alloys in Canada is projected to increase at a CAGR of 11.7% through 2033.
Who are the prominent suppliers of shape memory alloys?
Johnson Matthey, ETO Gruppe, and Memry Corporation are key suppliers of shape memory alloys.
Shape Memory Alloys Market