Shape Memory Alloys Market Report 2025

This Shape Memory Alloys report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The shape memory alloys market size has grown rapidly in recent years. It will grow from $14.18 billion in 2024 to $15.81 billion in 2025 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to aerospace industry adoption for applications like actuators and valves, growing use in medical devices for minimally invasive surgeries, expansion inThe automotive industry for smart materials and components, increased demand in consumer electronics for shape memory alloy actuators, growing demand for biomedical applications.

The shape memory alloys market size is expected to see rapid growth in the next few years. It will grow to $24.53 billion in 2029 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to growth of the smart materials market, with expansion in the energy sector, increasing adoption in structural engineering, surge in demand for shape memory alloys in the defense and security sector, growing emphasis on sustainability. Major trends in the forecast period include advancements in biomedical engineering, development of novel industrial applications in robotics and automation, miniaturization of shape memory alloy components for portable devices, integration of shape memory alloys in wearable technology for enhanced functionality, research and development focus on new shape memory alloy compositions for improved properties.

The shape memory alloys market is experiencing significant growth, driven by the rapid expansion of the aerospace and defense industry. This industry, dedicated to the development of advanced space systems, aircraft, and defense capabilities, benefits from shape memory alloys' unique properties. These alloys possess an elastic modulus and strength suitable for lightweight and highly reliable structural components, reducing drag during flight and enhancing overall performance. The increasing demand for advanced infrastructure in the aerospace and defense sector, projected to reach $70 billion by 2030, as per the India Brand Equity Foundation, will further boost the utilization of shape memory alloys, making them integral to industry growth.

The shape memory alloys market is poised for growth due to the rising demand for consumer electronics. These alloys find application in various aspects of consumer electronics, including smartphone antennas, vibration reduction, actuators, eyeglass frames, temperature sensing, energy harvesting, wearables, haptic feedback, and sound quality improvement. The Japan Electronics and Information Technology Industries Association reported a notable increase in consumer electronics production, reaching $280 million in May 2023. This surge in demand for consumer electronics is anticipated to be a key driver for the shape memory alloys market.

Strategic partnerships and collaborations are emerging as significant trends in the shape memory alloys market. Key players in the industry are forming alliances to build a robust product portfolio and provide innovative technology. For example, in December 2022, Boeing, a US-based manufacturing company, joined forces with NASA, a US government organization. This partnership aims to develop and test shape memory alloy technology for vortex generators, enhancing aerodynamic performance and fuel efficiency in aircraft.

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 November 2022, Alleima, a manufacturer of stainless steels and special alloys based in Sweden, acquired Endosmart Gesellschaft für Medizintechnik GmbH HQ for an undisclosed sum. The purpose of Alleima's acquisition is to bolster its presence in the medical sector by enhancing its capabilities in the production of medical devices and components made from nitinol, a shape memory alloy, thus expanding its addressable market and product offerings in the medical industry. Endosmart Gesellschaft für Medizintechnik GmbH HQ is a manufacturing company located in Germany that specializes in medical devices and components.

Major companies operating in the shape memory alloys market include SAES Getters SpA, Nippon Steel Corp., Fort Wayne Metals Research Products Corp., Xi'an Saite Metal Materials Development Co. Ltd., Dynalloy Inc., Allegheny Technologies Incorporated, Johnson Matthey Plc, Furukawa Electric Co. Ltd., Baoji Seabird Metal Materials Co. Ltd., Metalwerks Inc., G. RAU GmbH & Co. KG, Admedes Schuessler GmbH, Memry Corporation, ALB Materials Inc., Seabird Metal Material Co. Ltd., Ultimate Niti Technologies Inc., GRIKIN Advanced Materials Co. Ltd., Nitinol Devices & Components Inc., Peiertech, Smart Ltd., Endosmart GmbH, Euroflex Fibek Ltd., Kellogg’s Research Labs LLC, Confluent Medical Technologies India Pvt. Ltd., Kinalco Inc., E. T. O. Engineering GmbH, Consolidated Aerospace Manufacturing, Aerofits Products Inc., Ingpuls GmbH, PPG Industries Inc.

North America was the largest region in the shape memory alloys market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shape memory alloys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shape memory alloys market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

Shape memory alloys are metal alloys characterized by their ability to remember their original shape and regain it when the deforming force is removed. They exhibit a change in shape when exposed to heat and possess properties such as high strength, good elasticity, and lightweight characteristics. These alloys are widely used as functional materials in various fields due to their superelasticity property.

The main product types of shape memory alloys include sheets, wires, tubes, rods, and springs. Shape-memory alloy sheets are alloys that recall their original shape and revert to it when heated after being distorted. Various materials are utilized in shape memory alloys, such as nickel-titanium, copper-based alloys, iron-based alloys, silver-based alloys, gold-based alloys, and cobalt-based alloys. The end-use industries for shape memory alloys encompass biomedical, aerospace and defense, automotive, consumer electronics, and home appliances.

The shape memory alloys market research report is one of a series of new reports that provides shape memory alloys market statistics, including shape memory alloys industry global market size, regional shares, competitors with a shape memory alloys market share, detailed shape memory alloys market segments, market trends and opportunities, and any further data you may need to thrive in the shape memory alloys industry. This shape memory alloys market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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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