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2021
Shape Memory Alloys Market

Shape Memory Alloys Market by Type (Nickel Titanium Alloys, Copper-Based Alloys, and Others) and End-Use Industry (Biomedical, Aerospace & Defense, Automotive, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

A07697
Pages: 313
Sep 2021 | 400 Views
   
Author(s) : Pratik Mandon , Eswara Prasad
Tables: 167
Charts: 59
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Shape Memory Alloys Market Outlook 2030

The global Shape Memory Alloys market was valued at $9.2 billion in 2020, and is projected to reach $19.5 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

Disruptions in supply chain and temporary interruptions in manufacturing caused due to the lockdown measures, has severely affected the automobile and aerospace & defense industry, thereby momentarily decreasing the demand for shape memory alloys in 2020.

Shape memory alloys can be deformed and then restored to its original shape by applying heat. When shape memory alloys are cooled from their stronger, high-temperature form (austenite) to their weaker, low-temperature form (martensite), their crystal structure undergoes a phase shift (martensite). Special features of these alloys, such as shape memory and super elasticity are due to their inherent phase change. When a shape memory alloy is in the martensitic state, it is very easy to deform into a new shape. When heated to its transformation temperatures, alloy reverts and regains its previous shape with significant force. This transformation process is known as shape memory. Heat treatment and minor changes in alloy composition can be used to adjust the temperature at which the alloy remembers its austenite form when heated. Shape recovery process takes place over a small range of degrees and beginning or completion of transformation can be regulated within a degree or two, if needed.

Shape-Memory-Alloys-Market

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Rise in demand for shape memory alloys (SMA) in the manufacturing of biomedical devices and surgical tools, aircraft components, and engineering & manufacturing actuators, and consumer electronics is the major driving factor for the shape memory alloys market. The market growth can also be attributed to rise in demand for high-quality life-saving medical devices as well as improved automotive and aerospace components. Physical properties of SMA promote their use in a variety of end-use industries. High cost of medical implants, which is the most common application of SMAs in the biomedical industry, is, however, a major hindrance for the market growth.

The global shape memory alloys market is segmented on the basis of type, end use industry, and region. On the basis of type, the global shape memory alloys market report covers nickel titanium alloys, copper-based alloys, Fe-Mn-Si alloys and others. On the basis of end use industry, it is segmented into biomedical, aerospace & defense, automotive, and others. The report further outlines details about revenue generated through sales of shape memory alloys across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

Major players operating in the global shape memory alloy market include Furukawa. Johnson Matthey, Metalwerks Inc., G. Rau GmbH & Co. KG, Fort Wayne Metals, Xi’an Saite Metal Material, Seabird Metal, Dynalloyinc, Saes Gaetters and Ati Specialty Alloys & Components.

Shape Memory Alloys Market, by Type

The nitinol segment accounted for the largest share in 2020, while the copper based alloys segment is projected to grow at the highest CAGR of 8.3%.

Shape Memory Alloys Market
By Type

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Nitinol in Shape Memory Alloys is projected as the most lucrative segment.

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Shape Memory Alloys Market, by end use industry

The biomedical segment accounted for the largest share of the Shape Memory Alloys market in 2020, while the aerospace and defense segment is projected to grow at the highest CAGR of 9.1%.

Shape Memory Alloys Market
By End-use Industry

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Aerospace & Defence End-use Industry is projected as the most lucrative segment.

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Shape Memory Alloys Market, by Region

The Asia-Pacific region accounted for the largest share of the Shape Memory Alloys market in 2020.

Shape Memory Alloys Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific is projected as the most lucrative market.

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Key Benefits For Stakeholders

  • The report provides in-depth analysis of the global shape memory alloy market along with the current trends and future estimations.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global shape memory alloy market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global shape memory alloy market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Shape Memory Alloy Market

  • COVID-19 has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
  • Some of the major economies suffering from the COVID-19 crises include Germany, France, Italy, Spain, the UK, and Norway.
  • Shape memory alloys are primarily used in medical, automotive, aerospace & defense industries.
  • In many countries, the economy has dropped due to the halt of several industries, especially transport and supply chain. Demand for the product has been hindered as there is no development due to the lockdown.
  • The demand–supply gap, disruptions in raw material procurement, and price volatility are expected to hamper growth of the industry during the COVID-19 pandemic.
  • Due to a scarcity of resources in various parts of the world, the COVID-19 epidemic has impacted negatively on the manufacturing and industrial industries. The industry's top players are concerned about the market's prospects and are rethinking their strategies to meet the challenge.
  • Companies are incorporating various techniques to increase production volume and are attempting to develop innovative solutions at an affordable price that can meet customer requirements at a lower cost and support the overall breakthrough required for increased fragrance product penetration sustainability.

Key Market Segments

By Type

  • Nickel Titanium Alloys
  • Copper-Based Alloys
  • Fe-Mn-Si based alloys
  • Others

By End-Use Industry

  • Biomedical
  • Aerospace & Defense
  • Automotive
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Spain
    • Italy
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • South Africa
    • Saudi Arabia
    • Rest of LAMEA

KEY MARKET PLAYERS

  • Furukawa
  • Johnson Matthey
  • Metalwerks Inc.
  • G. Rau GmbH & Co. KG
  •  Fort Wayne metals
  • Xi’an saite metal material
  • Seabird Metal
  • Dynalloyinc
  •  Saes Gaetters
  •  Ati Specialty Alloys & Components.
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research

1.5.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET LANDSCAPE

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pockets

3.3.Porter's five forces analysis
3.5.Market share analysis & top player positioning, 2020

3.5.1.Top player positioning, 2020

3.6.Market dynamics

3.6.1.Drivers

3.6.1.1.Increased demand from biomedical sector
3.6.1.2.Increase demand from automotive industry

3.6.2.Restraint

3.6.2.1.Fluctuation in raw material cost

3.6.3.Opportunities

3.6.3.1.Increasing demand from electronics industry

3.6.4.Challenges

3.6.4.1.Pandemic and its effect on the actuator market

3.7.Value chain
3.8.Impact of COVID-19 outburst on the Shape memory alloys market

CHAPTER 4:SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE

4.1.Overview

4.1.1.Market size and forecast

4.2.Nickel titanium alloys

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market analysis, by country

4.3.Copper based alloys

4.3.1.Key market trends, growth factors, and opportunities
4.3.3.Market size and forecast, by region
4.3.4.Market analysis, by country

4.4.Fe-Mn-Si alloys

4.4.1.Key market trends, growth factors, and opportunities
4.4.3.Market size and forecast, by region
4.4.4.Market analysis, by country

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region
4.5.3.Market analysis, by country

CHAPTER 5:SHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES

5.1.Overview

5.1.1.Market size and forecast

5.2.Biomedical

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market analysis, by country

5.3.Aerospace & defense

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market analysis, by country

5.4.Automotive

5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region
5.4.3.Market analysis, by country

5.5.Others

5.5.1.Key market trends, growth factors, and opportunities
5.5.2.Market size and forecast, by region
5.5.3.Market analysis, by country

CHAPTER 6:SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by Type
6.2.3.Market size and forecast, by application
6.2.4.Market share analysis, by country

6.2.4.1.U.S. 

6.2.4.1.1.Market size and forecast, by type
6.2.4.1.2.Market size and forecast, by end use industries

6.2.4.2.Canada

6.2.4.2.1.Market size and forecast, by type
6.2.4.2.2.Market size and forecast, by end use industries

6.2.4.3.Mexico

6.2.4.3.1.Market size and forecast, by type
6.2.4.3.2.Market size and forecast, by end use industries

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by TYPE
6.3.3.Market size and forecast, by end use industries
6.3.4.Market share analysis, by country

6.3.4.1.Germany

6.3.4.1.1.Market size and forecast, by type
6.3.4.1.2.Market size and forecast, by end use industries

6.3.4.2.UK

6.3.4.2.1.Market size and forecast, by type
6.3.4.2.2.Market size and forecast, by end use industries

6.3.4.3.France

6.3.4.3.1.Market size and forecast, by type
6.3.4.3.2.Market size and forecast, by end use industries

6.3.4.4.Italy

6.3.4.4.1.Market size and forecast, by type
6.3.4.4.2.Market size and forecast, by end use industries

6.3.4.5.CEFTA

6.3.4.5.1.Market size and forecast, by type
6.3.4.5.2.Market size and forecast, by end use industries

6.3.4.6.Rest of Europe

6.3.4.6.1.Market size and forecast, by type
6.3.4.6.2.Market size and forecast, by end use industries

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by Type
6.4.3.Market size and forecast, by end use industries
6.4.4.Market share analysis, by country

6.4.4.1.China

6.4.4.1.1.Market size and forecast, by type
6.4.4.1.2.Market size and forecast, by end use industries

6.4.4.2.Japan

6.4.4.2.1.Market size and forecast, by type
6.4.4.2.2.Market size and forecast, by end use industries

6.4.4.3.India

6.4.4.3.1.Market size and forecast, by type
6.4.4.3.2.Market size and forecast, by end use industries

6.4.4.4.South Korea

6.4.4.4.1.Market size and forecast, by type
6.4.4.4.2.Market size and forecast, by end use industries

6.4.4.5.Rest of Asia-Pacific

6.4.4.5.1.Market size and forecast, by type
6.4.4.5.2.Market size and forecast, by end use industries

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by type
6.5.3.Market size and forecast, by end use industries
6.5.4.Market share analysis, by country

6.5.4.1.Brazil

6.5.4.1.1.Market size and forecast, by type
6.5.4.1.2.Market size and forecast, by end use industries

6.5.4.2.Saudi Arabia

6.5.4.2.1.Market size and forecast, by type
6.5.4.2.2.Market size and forecast, by end use industries

6.5.4.3.South Africa

6.5.4.3.1.Market size and forecast, by type
6.5.4.3.2.Market size and forecast, by end use industries

6.5.4.4.UAE

6.5.4.4.1.Market size and forecast, by type
6.5.4.4.2.Market size and forecast, by end use industries

6.5.4.5.Rest of LAMEA

6.5.4.5.1.Market size and forecast, by type
6.5.4.5.2.Market size and forecast, by end use industries

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.Introduction
7.2.Product mapping of top 10 players
7.3.Competitive Heatmap
7.4.Key development

7.4.1.Business Expansion
7.4.2.New Product 
7.4.3.Acquisition

CHAPTER 8:COMPANY PROFILES

8.1.ATI

8.1.1.Company overview
8.1.2.Key executive
8.1.3.Company snapshot
8.1.4.Operating business segments
8.1.5.Product portfolio
8.1.6.R&D expenditure
8.1.7.Business performance

8.2.DYNALLOY, INC. 

8.2.1.Company overview
8.2.2.Key executive
8.2.3.Company snapshot
8.2.4.Product portfolio
8.3.Fort Wayne Metals
8.3.1.Company overview
8.3.2.Key executive
8.3.3.Company snapshot
8.3.4.Product portfolio

8.4.METALWERKS

8.4.1.Company overview
8.4.2.Key executive
8.4.3.Company snapshot
8.4.4.Product portfolio

8.5.Seabird Metal Materials Co. Ltd

8.5.1.Company overview
8.5.2.Key executive
8.5.3.Company snapshot
8.5.4.Product portfolio

8.6.Johnson Matthey

8.6.1.Company overview
8.6.2.Key executive
8.6.3.Company snapshot
8.6.4.Operating business segments
8.6.5.Product portfolio
8.6.6.R&D expenditure
8.6.7.Business performance

8.7.SAES Getters

8.7.1.Company overview
8.7.2.Key executive
8.7.3.Company snapshot
8.7.4.Operating business segments
8.7.5.Product portfolio
8.7.6.R&D expenditure
8.7.7.Business performance

8.8.FURUKAWA ELECTRIC CO., LTD. 

8.8.1.Company overview
8.8.2.Key executive
8.8.3.Company snapshot
8.8.4.Operating business segments
8.8.5.Product portfolio
8.8.6.R&D expenditure
8.8.7.Business performance

8.9.Xi’an Saite Metal Materials Development Co., Ltd. 

8.9.1.Company overview
8.9.2.Key executive
8.9.3.Company snapshot
8.9.4.Product portfolio

8.10.G.RAU GMBH & CO. KG

8.10.1.Company overview
8.10.2.Key executive
8.10.3.Company snapshot
8.10.4.Product portfolio

LIST OF TABLES

TABLE 01.GLOBAL SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020–2030 (KILOTON) 
TABLE 02.GLOBAL SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020–2030 ($MILLION) 
TABLE 03.NITINOL SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 (KILOTON) 
TABLE 04.NITINOL SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 ($MILLION) 
TABLE 05.COPPER BASED SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 (KILOTON) 
TABLE 06.COPPER BASED  SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 ($MILLION) 
TABLE 07.IRON BASED SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 (KILOTON) 
TABLE 08.IRON BASED  SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 ($MILLION) 
TABLE 09.OTHERS SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 (KILOTON) 
TABLE 10.OTHERS SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 ($MILLION) 
TABLE 11.GLOBAL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020–2030 (KILOTON) 
TABLE 12.GLOBAL SHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020–2030 ($MILLION) 
TABLE 13.SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, FOR BIOMEDICAL, BY REGION, 2020-2030 (KILOTON) 
TABLE 14.SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET,FOR BIOMEDICAL, BY REGION, 2020-2030 ($MILLION) 
TABLE 15.SHAPE MEMORY ALLOYS MARKET, FOR AEROSPACE & DEFENSE, BY REGION, 2020-2030 (KILOTON) 
TABLE 16.SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET,FOR AEROSPACE & DEFENSE, BY REGION, 2020-2030 ($MILLION) 
TABLE 17.SHAPE MEMORY ALLOYS MARKET, FOR AUTOMOTIVE, BY REGION, 2020-2030 (KILOTON) 
TABLE 18.SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET,FOR AUTOMOTIVE, BY REGION, 2020-2030 ($MILLION) 
TABLE 19.SHAPE MEMORY ALLOYS MARKET, FOR OTHERS, BY REGION, 2020-2030 (KILOTON) 
TABLE 20.SHAPE MEMORY ALLOYS MARKET,FOR OTHERS, BY REGION, 2020-2030 ($MILLION) 
TABLE 21.GLOBAL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 (KILOTON) 
TABLE 22.GLOBAL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY REGION, 2020-2030 ($MILLION) 
TABLE 23.NORTH AMERICA SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 24.NORTH AMERICA SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 25.NORTH AMERICA SHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 26.NORTH AMERICA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 27.NORTH AMERICA SHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 (KILOTON) 
TABLE 28.NORTH AMERICA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 ($MILLION) 
TABLE 29.U.S. SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 30.U.S. SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 31.U.S. SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 32.U.S. SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRY, 2020-2030 ($MILLION) 
TABLE 33.CANADA SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 34.CANADA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 35.CANADA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 36.CANADA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 37.MEXICO SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 38.MEXICO SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 39.MEXICO SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 40.MEXICO SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 41.EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 42.EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 43.EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 44.EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 45.EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 (KILOTON) 
TABLE 46.EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 ($MILLION) 
TABLE 47.GERMANY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 48.GERMANY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 49.GERMANY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 50.GERMANY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 51.UK SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 52.UK SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 53.UK SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 54.UK SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 55.FRANCE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 56.FRANCE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 57.FRANCE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 58.FRANCE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 59.ITALY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 60.ITALY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 61.ITALY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 62.ITALY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 63.CEFTA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 64.CEFTA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE ($MILLION) 
TABLE 65.CEFTA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 66.CEFTA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 67.REST OF EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 68.REST OF EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 69.REST OF EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 70.REST OF EUROPE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 71.ASIA-PACIFIC SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 72.ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 73.ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 74.ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 75.ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 (KILOTON) 
TABLE 76.ASIA-PACIFIC SHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 ($MILLION) 
TABLE 77.CHINA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 78.CHINA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 79.CHINA SHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 80.CHINA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 81.JAPAN SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 82.JAPAN SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 83.JAPAN SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 84.JAPAN SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 85.INDIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 86.INDIA SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 87.INDIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 88.INDIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 89.SOUTH KOREA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 90.SOUTH KOREA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 91.SOUTH KOREA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 92.SOUTH KOREA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 93.REST OF ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 94.REST OF ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 95.REST OF ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 96.REST OF ASIA-PACIFIC SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 97.LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 98.LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 99.LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 100.LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 101.LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 (KILOTON) 
TABLE 102.LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020-2030 ($MILLION) 
TABLE 103.BRAZIL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 104.BRAZIL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 105.BRAZIL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 106.BRAZIL SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 107.SAUDI ARABIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 108.SAUDI ARABIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 109.SAUDI ARABIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 110.SAUDI ARABIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 111.SOUTH AFRICA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 112.SOUTH AFRICA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 113.SOUTH AFRICA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 114.SOUTH AFRICA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 115.UAE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 116.UAE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 117.UAE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 118.UAE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 119.REST OF LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 (KILOTON) 
TABLE 120.REST OF LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020-2030 ($MILLION) 
TABLE 121.REST OF LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 (KILOTON) 
TABLE 122.REST OF LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020-2030 ($MILLION) 
TABLE 123.KEY BUSINESS EXPANSION
TABLE 124.KEY NEW PRODUCT
TABLE 125.KEY ACQUISITION
TABLE 126.ATI: KEY EXECUTIVES
TABLE 127.ATI: COMPANY SNAPSHOT
TABLE 128.ATI: OPERATING SEGMENTS
TABLE 129.ATI: PRODUCT PORTFOLIO
TABLE 130.ATI: R&D EXPENDITURE, 2018–2020 ($MILLION) 
TABLE 131.ATI: NET SALES, 2018–2020 ($MILLION) 
TABLE 132.DYNALLOY, INC.: KEY EXECUTIVES
TABLE 133.DYNALLOY, INC.: COMPANY SNAPSHOT
TABLE 134.DYNALLOY, INC.: PRODUCT PORTFOLIO
TABLE 135.FORT WAYNE METALS: KEY EXECUTIVES
TABLE 136.FORT WAYNE METALS: COMPANY SNAPSHOT
TABLE 137.FORT WAYNE METALS: PRODUCT PORTFOLIO
TABLE 138.METALWERKS: KEY EXECUTIVES
TABLE 139.METALWERKS: COMPANY SNAPSHOT
TABLE 140.METALWERKS: PRODUCT PORTFOLIO
TABLE 141.SEABIRD METAL : KEY EXECUTIVES
TABLE 142.SEABIRD METAL : COMPANY SNAPSHOT
TABLE 143.SEABIRD METAL : PRODUCT PORTFOLIO
TABLE 144.JOHNSON MATTHEY: KEY EXECUTIVES
TABLE 145.JOHNSON MATTHEY: COMPANY SNAPSHOT
TABLE 146.JOHNSON MATTHEY: OPERATING SEGMENTS
TABLE 147.JOHNSON MATTHEY: PRODUCT PORTFOLIO
TABLE 148.JOHNSON MATTHEY: R&D EXPENDITURE, 2019–2021 ($MILLION) 
TABLE 149.JOHNSON MATTHEY: NET SALES, 2019–2021 ($MILLION) 
TABLE 150.SAES GETTERS: KEY EXECUTIVES
TABLE 151.SAES GETTERS: COMPANY SNAPSHOT
TABLE 152.SAES GETTERS: OPERATING SEGMENTS
TABLE 153.SAES GETTERS: PRODUCT PORTFOLIO
TABLE 154.SAES GETTERS: R&D EXPENDITURE, 2018–2020 ($MILLION) 
TABLE 155.SAES GETTERS: NET SALES, 2018–2020 ($MILLION) 
TABLE 156.FURUKAWA : KEY EXECUTIVES
TABLE 157.FURUKAWA : COMPANY SNAPSHOT
TABLE 158.FURUKAWA : OPERATING SEGMENTS
TABLE 159.FURUKAWA : PRODUCT PORTFOLIO
TABLE 160.FURUKAWA: R&D EXPENDITURE, 2017–2019 ($MILLION) 
TABLE 161.FURUKAWA: NET SALES, 2017–2019 ($MILLION) 
TABLE 162.XI’AN SAITE METAL MATERIALS DEVELOPMENT: KEY EXECUTIVES
TABLE 163.XI’AN SAITE METAL MATERIALS DEVELOPMENT: COMPANY SNAPSHOT
TABLE 164.XI’AN SAITE METAL MATERIALS DEVELOPMENT: PRODUCT PORTFOLIO
TABLE 165.G.RAU GMBH & CO. KG: KEY EXECUTIVES
TABLE 166.G.RAU GMBH & CO. KG: COMPANY SNAPSHOT
TABLE 167.G.RAU GMBH & CO. KG: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY, BY SEGMENT
FIGURE 03.EXECUTIVE SUMMARY, BY COUNTRY
FIGURE 04.TOP INVESTMENT POCKETS, BY COUNTRY
FIGURE 05.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 06.MODERATE THREAT OF NEW ENTRANTS
FIGURE 07.LOW THREAT OF SUBSTITUTES
FIGURE 08.MODERATE INTENSITY OF RIVALRY
FIGURE 09.MODERATE BARGAINING POWER OF BUYERS
FIGURE 10.TOP PLAYER POSITIONING, 2020
FIGURE 11.SHAPE MEMORY ALLOYS MARKET DYNAMICS
FIGURE 12.SHAPE MEMORY ALLOYS MARKET: VALUE CHAIN
FIGURE 13.GLOBAL SHAPE MEMORY ALLOYS MARKET, BY TYPE, 2020–2030 ($MILLION) 
FIGURE 14.COMPARATIVE SHARE ANALYSIS OF NITINOL SHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 15.COMPARATIVE SHARE ANALYSIS OF COPPER BASED  SHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 16.COMPARATIVE SHARE ANALYSIS OF IRON BASED  SHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 17.COMPARATIVE SHARE ANALYSIS OF OTHERS SHAPE MEMORY ALLOYS MARKET, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 18.GLOBAL SHAPE MEMORY ALLOYS MARKET, BY END USE INDUSTRIES, 2020–2030 ($MILLION) 
FIGURE 19.COMPARATIVE SHARE ANALYSIS OF SHAPE MEMORY ALLOYS MARKET, FOR BIOMEDICAL, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 20.COMPARATIVE SHARE ANALYSIS OF SHAPE MEMORY ALLOYS MARKET, FOR AEROSPACE & DEFENSE, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 21.COMPARATIVE SHARE ANALYSIS OF SHAPE MEMORY ALLOYS MARKET, FOR AUTOMOTIVE, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 22.COMPARATIVE SHARE ANALYSIS OF SHAPE MEMORY ALLOYS MARKET, FOR OTHERS, BY COUNTRY, 2020 & 2030 ($MILLION) 
FIGURE 23.GLOBAL SHAPE MEMORY ALLOYS MARKET, BY REGION, 2020–2030 ($MILLION) 
FIGURE 24.U.S. SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION)139
FIGURE 25.CANADA SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 26.MEXICO SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 27.GERMANY SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 28.UK SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 29.FRANCE SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 30.ITALY SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 31.REST OF EUROPE SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 32.CHINA SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 33.JAPAN SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 34.INDIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 35.SOUTH KOREA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 36.REST OF ASIA-PACIFIC SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 37.BRAZIL SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 38.SAUDI ARABIA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 39.SOUTH AFRICA SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 40.UAE SHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 41.REST OF LAMEA SHAPE MEMORY ALLOYSHAPE MEMORY ALLOYS MARKET REVENUE, 2020-2030 ($MILLION) 
FIGURE 43.COMPETITIVE HEATMAP
FIGURE 44.ATI: R&D EXPENDITURE, 2018–2020 ($MILLION) 
FIGURE 45.ATI: NET SALES, 2018–2020 ($MILLION) 
FIGURE 46.ATI: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 47.ATI: REVENUE SHARE BY REGION, 2020 (%)
FIGURE 48.JOHNSON MATTHEY: R&D EXPENDITURE, 2019–2021 ($MILLION) 
FIGURE 49.JOHNSON MATTHEY: NET SALES, 2019–2021 ($MILLION) 
FIGURE 50.JOHNSON MATTHEY: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 51.JOHNSON MATTHEY: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 52.SAES GETTERS: R&D EXPENDITURE, 2018–2020 ($MILLION) 
FIGURE 53.SAES GETTERS: NET SALES, 2018–2020 ($MILLION) 
FIGURE 54.SAES GETTERS: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 55.SAES GETTERS: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 56.FURUKAWA: R&D EXPENDITURE, 2017–2019 ($MILLION) 
FIGURE 57.FURUKAWA: NET SALES, 2017–2019 ($MILLION) 
FIGURE 58.FURUKAWA: REVENUE SHARE BY SEGMENT, 2020 (%)
FIGURE 59.FURUKAWA: REVENUE SHARE BY REGION, 2020 (%)

 
 

Shape memory alloys have unique property of regaining their original shape following a temperature increase. In comparison to other traditional materials, these materials are more flexible. Shape memory alloys are used in aerospace & defense industry, as well as automobiles, robotics, valves, and medicinal devices. Owing to its features, such as high fatigue resistance, super elasticity, and biocompatibility, shape memory alloys are in high demand.

The global shape memory alloys market is segmented on the basis of type, end use industry, and region. On the basis of type, the global shape memory alloys market report covers nickel titanium alloys, copper-based alloys, Fe-Mn-Si alloys and others. On the basis of end use industry, it is segmented into biomedical, aerospace & defense, automotive, and others. The report further outlines details about revenue generated through sales of shape memory alloys across North America, Europe, Asia-Pacific, and LAMEA.

Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.

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FREQUENTLY ASKED QUESTIONS?
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A. Rise in demand for shape memory alloys (SMA) in the manufacturing of biomedical devices and surgical tools.

A. Rise in demand for shape memory alloys (SMA) in the manufacturing of biomedical devices and surgical tools.

A. The market size of the global shape memory alloys in 2021 is estimated to be around $9.6 billion in 2021 and is anticipated to rise to $19.5 billion by 2030.

A. Major players operating in the global shape memory alloy market include Furukawa. Johnson Matthey, Metalwerks Inc., G. Rau GmbH & Co. KG, Fort Wayne Metals, Xi’an Saite Metal Material, Seabird Metal, Dynalloyinc, Saes Gaetters and Ati Specialty Alloys & Components.

A. The aerospace & defense industry is projected to increase the demand for shape memory alloys market.

A. The global shape memory alloys market is segmented on the basis of type, end use industry, and region.

A. Rise in demand for shape memory alloys (SMA) in the manufacturing of biomedical devices and surgical tools, aircraft components, and engineering & manufacturing actuators, and consumer electronics is the major driving factor for the shape memory alloys market.

A. The biomedical and aerospace & defense applications are expected to drive the adoption of shape memory alloys during the forecast period.

A. Disruptions in supply chain management and temporary interruption in the manufacturing activities has negatively impacted the shape memory alloys market due to the COVID-19 pandemic.

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