Shape Memory Alloys Market Report 2026

The shape memory alloys market size has grown rapidly in recent years. It will grow from $15.6 billion in 2025 to $17.36 billion in 2026 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to early adoption in biomedical devices, growth in automotive applications, development of aerospace components, advancement in consumer electronics, expansion in home appliance manufacturing.

The shape memory alloys market size is expected to see rapid growth in the next few years. It will grow to $26.05 billion in 2030 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to increasing use in robotic actuators, rising demand in aerospace and defense, expansion in electric vehicle components, growth in smart home and consumer electronics, development of advanced ni-ti and copper-based sma materials. Major trends in the forecast period include development of high-performance ni-ti alloys, expansion of shape memory alloy springs and rods applications, integration of sma in automotive and aerospace components, rising adoption in biomedical and home appliance applications, advancement in specialty sma wires and tubes.

Rising demand for consumer electronics is expected to drive the growth of the shape memory alloys market in the coming years. Consumer electronics are electronic devices designed for everyday personal use, covering communication, entertainment, and productivity applications. Demand for consumer electronics is increasing due to the growing adoption of advanced smart devices, as consumers look for compact, high-performance, and feature-rich electronic products. Shape memory alloys help meet the rising demand for consumer electronics by enabling miniaturized, responsive, and durable components such as actuators, antennas, and vibration-control elements that improve device functionality and user experience. For example, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based electronics industry organization, consumer electronics production reached $280 million (¥32,099 million), up from $230.9 million (¥25,268 million) in May 2022. Therefore, the increasing demand for consumer electronics is driving the growth of the shape memory alloys market.

Leading companies in the shape memory alloys market are focusing on developing innovative products, such as shape memory alloy actuators, to achieve a competitive edge and improve their product offerings. A shape memory actuator is a device that uses materials that change shape in response to temperature fluctuations, enabling precise movements in applications like optical image stabilization and autofocus in camera systems. For instance, in July 2023, Huawei, a manufacturing company based in China, introduced the P60 series, which includes flagship smartphones like the Huawei P60, P60 Pro, and P60 Art, recognized for their advanced camera systems and state-of-the-art technology. This series features a triple camera system, highlighted by a remarkable 48MP main camera equipped with a ten-speed variable aperture for enhanced light capture and image quality. Furthermore, these devices employ shape memory alloy (SMA) actuators for optical image stabilization (OIS) and autofocus (AF), improving performance in both still photography and video recording. The P60 Pro has garnered significant acclaim, achieving a score of 156 points on DxOMark for its outstanding stabilization and low-light performance.

In October 2023, Resonetics LLC, a US-based contract manufacturing and shape memory alloy (SMA) technology company, acquired Memry Corporation and SAES Smart Materials from SAES Getters S.p.A. for approximately $900 million. Through this acquisition, Resonetics sought to vertically integrate a leading SMA (nitinol) supply chain, broaden its material and processing capabilities for medical devices, and reinforce its position in advanced shape memory alloy products. Memry Corporation and SAES Smart Materials Inc. are US-based shape memory alloy companies that specialize in nitinol material production and processing, including alloy fabrication, tubing, wire, and precision components for medical device applications.

Major companies operating in the shape memory alloys market report are SAES Getters SpA, Fort Wayne Metals Research Products Corp., Xi'an Saite Metal Materials Development Co. Ltd., Dynalloy Inc., Allegheny Technologies Incorporated, Furukawa Electric Co. Ltd., Baoji Seabird Metal Materials Co. Ltd., G. RAU GmbH & Co. KG, Admedes Schuessler GmbH, Memry Corporation, ALB Materials Inc., Seabird Metal Material Co. Ltd., Ultimate Niti Technologies Inc., Nitinol Devices & Components Inc., Endosmart GmbH, Confluent Medical Technologies India Pvt. Ltd., Ingpuls GmbH, Consolidated Aerospace Manufacturing, Nippon Seisen Co., Ltd., Mitsubishi Materials Corporation, Alcoa Corporation, Hangzhou Ualloy Material Co. Ltd., Boston Centerless Inc.

North America was the largest region in the shape memory alloys market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shape memory alloys market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shape memory alloys market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The shape memory alloys market consists of sales of nickel and titanium. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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