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Shape Memory Alloys Market by Type (Nitinol, Copper-Based, Iron-Manganese Silicon), End-Use Industry (Biomedical, Aerospace & Defense, Automotive, Consumer Electronics & Home Appliances), and Region - Global Forecast to 2022


Product Code : MNMCH00109756
Survey : MarketsandMarkets
Publish On : 20, May, 2022
Category : Chemicals and Advanced Materials
Study Area : Global
Report format : PDF
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[Report Description]

The shape memory alloys market is projected to grow at a CAGR of 12.3% from 2017 to 2022
The shape memory alloys market is estimated at USD 10.62 billion in 2017 and is projected to reach USD 18.97 billion by 2022, at a CAGR of 12.3% from 2017 to 2022. The growth of the shape memory alloys market can be attributed to the increasing demand from the biomedical, aerospace & defense, automotive, consumer electronics & home appliances industries across the globe. Rising cost of raw materials, such as nickel, copper, titanium, aluminum, and other materials acts as a major restraint for the market. Moreover, the rising demand for these alloys from emerging economies in the APAC has led to a demand and supply imbalance. Shape memory alloys find applications in various end-use industries because of their unique properties, such as pseudo elasticity, shape memory effect, high fatigue life, and damping.


Among types, nitinol alloys is projected to be the largest segment of the shape memory alloys market
Nitinol alloys are projected to be the largest as well as the fastest-growing type of the shape memory alloys market. Nitinol alloys are majorly used in the biomedical industry for extensive applications in medical implants, such as cardiovascular stents & wires, orthopedic screws & wires, dental wires, and surgical instruments. Further, countries such as India and China, with high populations provide opportunities for the shape memory alloys market owing to the increasing demand for consumer electronics. Increasing healthcare and defense spending and growing automotive and aerospace industries are also expected to fuel the demand for shape memory alloys globally.

The North America shape memory alloys market is projected to be the largest during the forecast period
North America was the largest market of shape memory alloys in 2016. The US led the North American shape memory alloys market, followed by Canada. The significant demand for shape memory alloys can be attributed to the strong health care systems in the region. The US is the largest medical device manufacturing country, globally. Moreover, increasing aging populations and instances of chronic diseases are leading to the rising demand for life-saving implantable devices, which in turn is expected to drive the shape memory alloys market in the region. North America is a mature market for shape memory alloys as the major global players are headquartered in the region. The presence of global players, such as ATI Specialty Alloys & Components (US) and Fort Wayne Metals (US), are expected to lead to the growth of the market for shape memory alloys in North America.


Breakdown of the profiles of primary interviews for the report on the shape memory alloys market

• By Company Type – Tier 1 – 45%, Tier 2 –22%, and Tier 3 – 33%
• By Designation – C Level – 50%, Director Level – 10%, and Others – 40%
• By Region – APAC – 33%, Europe – 17%, North America – 33%, and Middle East & Africa – 17%
Some of the key companies profiled in this report are SAES (Italy), Nippon Steel & Sumitomo Metals (Japan), ATI Specialty Alloys & Components (US), Furukawa Electric Company (Japan), Johnson Matthey (UK), Fort Wayne Metals (US), Nippon Seisen (Japan), Saite Metal Materials (China), DYNALLOY, Inc. (US), and Seabird Metal Material (China).

Research Coverage:
The report covers the shape memory alloys market across different end-use industries and regions. It aims at estimating the market size and future growth potential of the shape memory alloys market across different segments. The report also includes an in-depth competitive analysis of the key market players along with their profiles, recent developments, and key growth strategies.

Key benefits of buying the report
From an insight perspective, this research report has been focusing on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the shape memory alloys market, high-growth regions, and drivers, restraints, opportunities, and challenges of the shape memory alloys market.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on shape memory alloys offered by the top players operating in the market.

• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the shape memory alloys market.

• Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for shape memory alloys across different regions.

• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the shape memory alloys market.

• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the shape memory alloys market.


TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 MARKET SCOPE 15
1.3.1 YEARS CONSIDERED FOR THE STUDY 15
1.4 CURRENCY 15
1.5 LIMITATIONS 16
1.6 STAKEHOLDERS 16
2 RESEARCH METHODOLOGY 17
2.1 RESEARCH DATA 17
2.1.1 SECONDARY DATA 18
2.1.1.1 Key data from secondary sources 18
2.1.2 PRIMARY DATA 19
2.1.2.1 Key data from primary sources 19
2.1.2.2 Key industry insights 20
2.1.2.3 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 21
2.3 DATA TRIANGULATION 23
2.4 RESEARCH ASSUMPTIONS 24
3 EXECUTIVE SUMMARY 25
4 PREMIUM INSIGHTS 28
4.1 ATTRACTIVE OPPORTUNITIES IN THE SHAPE MEMORY ALLOYS MARKET 28
4.2 SHAPE MEMORY ALLOYS MARKET, BY TYPE 28
4.3 SHAPE MEMORY ALLOYS MARKET IN NORTH AMERICA, BY END-USE INDUSTRY AND COUNTRY 29
4.4 SHAPE MEMORY ALLOYS MARKET ATTRACTIVENESS 29
5 MARKET OVERVIEW 30
5.1 INTRODUCTION 30
5.2 MARKET DYNAMICS 30
5.2.1 DRIVERS 31
5.2.1.1 Rapidly growing medical implants industry 31
5.2.1.2 Growing demand from aerospace & defense industry 31
5.2.2 RESTRAINTS 31
5.2.2.1 Rising cost of raw materials 31

5.2.3 OPPORTUNITIES 32
5.2.3.1 High growth of consumer electronics & home appliances industry 32
5.2.4 CHALLENGES 32
5.2.4.1 High cost of implantable devices 32
5.3 PORTER’S FIVE FORCES ANALYSIS 33
5.3.1 BARGAINING POWER OF SUPPLIERS 34
5.3.2 THREAT OF NEW ENTRANTS 34
5.3.3 THREAT OF SUBSTITUTES 34
5.3.4 BARGAINING POWER OF BUYERS 35
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 35
5.4 MACROECONOMIC INDICATORS 36
5.4.1 INTRODUCTION 36
6 SHAPE MEMORY ALLOYS MARKET, BY TYPE 38
6.1 INTRODUCTION 39
6.2 NICKEL-TITANIUM (NITINOL) 40
6.3 COPPER-BASED ALLOYS 41
6.4 IRON-MANGANESE-SILICON (FE-MN-SI) 41
6.5 OTHERS 42
7 SHAPE MEMORY ALLOYS MARKET, BY END-USE INDUSTRY 43
7.1 INTRODUCTION 44
7.2 BIOMEDICAL 45
7.3 AEROSPACE & DEFENSE 46
7.4 AUTOMOTIVE 47
7.5 CONSUMER ELECTRONICS & HOME APPLIANCES 47
7.6 OTHERS 48
8 SHAPE MEMORY ALLOYS MARKET, BY REGION 49
8.1 INTRODUCTION 50
8.2 NORTH AMERICA 51
8.2.1 US 54
8.2.2 CANADA 55
8.2.3 MEXICO 56
8.3 APAC 57
8.3.1 CHINA 60
8.3.2 JAPAN 61
8.3.3 SOUTH KOREA 62
8.3.4 AUSTRALIA 63
8.3.5 INDIA 64
8.3.6 TAIWAN 65
8.3.7 REST OF APAC 66
8.4 EUROPE 68
8.4.1 GERMANY 71
8.4.2 FRANCE 72
8.4.3 UK 73
8.4.4 ITALY 74
8.4.5 SPAIN 75
8.4.6 REST OF EUROPE 76
8.5 SOUTH AMERICA 77
8.5.1 BRAZIL 79
8.5.2 ARGENTINA 80
8.5.3 REST OF SOUTH AMERICA 81
8.6 MIDDLE EAST & AFRICA 82
8.6.1 ISRAEL 84
8.6.2 SAUDI ARABIA 85
8.6.3 REST OF MIDDLE EAST & AFRICA 86
9 COMPETITIVE LANDSCAPE 87
9.1 INTRODUCTION 87
9.2 COMPETITIVE SITUATIONS & TRENDS 89
9.2.1 EXPANSION 89
9.2.2 AGREEMENTS & PARTNERSHIPS 90
9.2.3 JOINT VENTURE 91
9.2.4 MERGER & ACQUISITION 91
9.2.5 NEW PRODUCT DEVELOPMENT 91
9.2.6 MARKET RANKING ANALYSIS 92
10 COMPANY PROFILES 94
Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View
10.1 ATI SPECIALTY ALLOYS & COMPONENTS 94
10.2 SAES 97
10.3 JOHNSON MATTHEY 100
10.4 NIPPON STEEL & SUMITOMO METAL 102
10.5 FURUKAWA ELECTRIC COMPANY 105
10.6 FORT WAYNE METALS 107
10.7 NIPPON SEISEN CO. LTD. 109
10.8 XIAN SAITE METAL MATERIALS DEVELOPMENT COMPANY LIMITED 111
10.9 SEABIRD METAL MATERIAL CO., LTD. 112
10.10 DYNALLOY INC. 113

10.11 ADDITIONAL COMPANY PROFILES 114
10.11.1 METALWERKS PMD 114
10.11.2 ULTIMATE NITI TECHNOLOGIES 114
10.11.3 GENERAL RESEARCH INSTITUTE FOR NONFERROUS METALS (GRINM) 114
10.11.4 EUROFLEX GMBH 114
10.11.5 CONFLUENT MEDICAL TECHNOLOGIES 115
10.11.6 PRECISION CASTPARTS CORP. 115
10.11.7 NANOSHEL LLC 115
10.11.8 STANFORD ADVANCED MATERIALS 115
10.11.9 SUNRISE TITANIUM TECHNOLOGY 116
10.11.10 BOSTON CENTERLESS 116
10.11.11 MICROGROUP INC. 116
10.11.12 SMA WIRES INDIA 116
10.11.13 ALB MATERIALS INC. 117
10.11.14 M & T (TAIWAN) CO., LTD. 117
10.11.15 HANGZHOU UALLOY MATERIAL CO., LTD. 117
*Details might not be captured in case of unlisted companies.
11 APPENDIX 118
11.1 INSIGHTS FROM INDUSTRY EXPERTS 118
11.2 DISCUSSION GUIDE 119
11.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 122
11.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 124
11.5 AVAILABLE CUSTOMIZATIONS 125
11.6 RELATED REPORTS 125
11.7 AUTHOR DETAILS 126

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