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Shape Memory Alloys Market Size, Share & Trends Analysis Report By Product (Nitinol, Copper-based), By End-use (Biomedical, Automotive), By Region, And Segment Forecasts, 2024 - 2030

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  • 100 Pages
  • August 2024
  • Region: Global
  • Grand View Research
  • ID: 5998747
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Shape Memory Alloys Market Growth & Trends

The global shape memory alloys market is expected to reach USD 29.29 billion by 2030. It is anticipated to expand at a CAGR of 11.3% over the forecast period. Shape memory alloy (SMA) refers to a metallic material that can be bent or stretched in its cool state. The alloy regains its original shape when heated above the transition temperature. Low temperature (martensite) and high temperature (austenite) are two stable phases of SMAs.

Nickel-titanium alloy (nitinol) is the key product type, which is largely used in medical devices. Medical devices made from nitinol include dental wires, needles, catheter tubes, guidewires, and other surgical instruments. The biomedical industry is facing many challenging applications that are testing the capability of SMAs. Recent research and development activities are aimed at improving the fatigue life of the material and producing materials with low inclusion sizes.

Gradual expansion of the automotive industry is likely to play a significant role in the demand for SMAs over the forecast period. SMA actuators are gaining popularity among automobile manufacturers owing to properties such as shape memory effect (SME) and super elasticity (SE). In addition, SMA actuators do not need complex and bulky design to function. Increasing R&D investments by automobile manufacturers to find potential applications such as climate control, door locks, engine control valve, and actuators are anticipated to drive market growth.

Aerospace and defense is another promising sector for SMAs. Rising focus on multi-functionality and reliability is driving demand for advanced materials in aerospace applications such as spacecraft, rotorcraft, and fixed-wing aircraft.

Asia Pacific is projected to remain a key region for the market over the coming years. Various research institutes and organizations are focusing on the development of new industrial applications. The region is undergoing significant infrastructural development in railways, roadways, industrial, commercial, and residential sectors. Furthermore, globalization has made the region a lucrative place for investment to aid the development of the economy while catering to a larger population. Asia Pacific also boasts a large aerospace and defense industry, creating novel opportunities for SMAs to be incorporated.

The market is competitive, with various small and large participants. Mergers and acquisitions, R&D investments, and new product launches are key strategic initiatives adopted by market players. For instance, in March 2024, Montagu Private Equity LLP, a private equity firm, announced its plans to acquire Johnson Matthey Plc's Medical Device Components (MDC) business. MDC develops and manufactures specialized components for minimally invasive medical devices. It also focuses on complex and high-precision parts made from platinum group metals and nitinol.

Shape Memory Alloys Market Report Highlights

  • The biomedical segment had the largest market share, over 60%, in 2023. This segment's large share is attributed to increasing R&D in medical devices and surgical instruments.
  • The Nickel titanium alloys (nitinol) segment is anticipated to grow at a CAGR of 11.4% during the forecast period. Increasing R&D activities for application-specific products are aiding the growth of this segment.
  • Asia Pacific held a revenue share of over 29.0% in 2023. The large populations in India and China, along with increasing investment in the healthcare sector, are projected to remain key drivers for the long term.
  • North America is anticipated to grow at a CAGR of 11.4% during the forecast period. Increasing production activities in the aerospace and automotive industries are likely to contribute to market growth.
  • Some of the key players in the market are SAES Group, ATI, Nippon Steel Corporation, Furukawa Electric Co., Ltd., Seabird Metal, and Johnson Matthey. M&As and investment in R&D are key growth strategies of market players.

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


This product will be delivered within 1-3 business days.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Market Formulation & Data Visualization
1.3.3. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.3.1. Raw Material Outlook
3.3.2. Distribution Channel Analysis
3.3.3. Vendor Selection Criteria
3.4. Manufacturing and Technology Trends
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.7. Porter’s Five Forces Analysis
3.7.1. Bargaining Power of Suppliers
3.7.2. Bargaining Power of Buyers
3.7.3. Threat of Substitution
3.7.4. Threat of New Entrants
3.7.5. Competitive Rivalry
3.8. PESTLE Analysis
3.8.1. Political
3.8.2. Economic
3.8.3. Social Landscape
3.8.4. Technology
3.8.5. Environmental
3.8.6. Legal
Chapter 4. Shape Memory Alloys Market: Product Estimates & Trend Analysis
4.1. Shape Memory Alloys Market: Product Movement Analysis, 2023 & 2030
4.2. Nickel-Titanium Alloys
4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.3. Copper-Based Alloys
4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.4. Others
4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Shape Memory Alloys Market: End Use Estimates & Trend Analysis
5.1. Shape Memory Alloys Market: End Use Movement Analysis, 2023 & 2030
5.2. Biomedical
5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.3. Automotive
5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.4. Aerospace & Defense
5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.5. Consumer Electronics & Household
5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.6. Others
5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Shape Memory Alloys Market: Regional Estimates & Trend Analysis
6.1. Regional Analysis, 2023 & 2030
6.2. North America
6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.2.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.2.4. U.S.
6.2.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.2.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.2.5. Canada
6.2.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.2.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.2.6. Mexico
6.2.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.2.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.3.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.3.4. Germany
6.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.3.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.3.5. UK
6.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.3.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.3.6. France
6.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.3.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.4.4. China
6.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.4.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.4.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.4.5. India
6.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.4.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.4.6. Japan
6.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.4.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.5. Central & South America
6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.6.2. Market estimates and forecasts, by product, 2018 - 2030 (USD Million)
6.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
7.1. Recent Developments, By Key Market Participants
7.2. Kraljic Matrix
7.3. Company Market Ranking
7.4. Vendor Landscape
7.4.1. List of Raw Material Suppliers
7.4.2. List of Distributors & Channel Partners
7.5. List of Prospective End Users
7.6. Strategy Mapping
7.7. Company Profiles/Listing
7.7.1. ATI
7.7.1.1. Company Overview
7.7.1.2. Financial Performance
7.7.1.3. Product Benchmarking
7.7.2. SAES Group
7.7.2.1. Company Overview
7.7.2.2. Financial Performance
7.7.2.3. Product Benchmarking
7.7.3. Nippon Steel Corporation
7.7.3.1. Company Overview
7.7.3.2. Financial Performance
7.7.3.3. Product Benchmarking
7.7.4. Furukawa Electric Co., Ltd.
7.7.4.1. Company Overview
7.7.4.2. Financial Performance
7.7.4.3. Product Benchmarking
7.7.5. Johnson Matthey
7.7.5.1. Company Overview
7.7.5.2. Financial Performance
7.7.5.3. Product Benchmarking
7.7.6. Baoji Seabird Metal Material Co., Ltd
7.7.6.1. Company Overview
7.7.6.2. Product Benchmarking
7.7.7. Dynalloy, Inc.
7.7.7.1. Company Overview
7.7.7.2. Product Benchmarking
7.7.8. Fort Wayne Metals Research Products Corp.
7.7.8.1. Company Overview
7.7.8.2. Product Benchmarking
7.7.9. Nippon Seisen Co., Ltd
7.7.9.1. Company Overview
7.7.9.2. Product Benchmarking
7.7.10. Mishra Dhatu Nigam Limited (MIDHANI)
7.7.10.1. Company Overview
7.7.10.2. Product Benchmarking
List of Tables
Table 1 Shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 2 Shape memory alloys market estimates & forecasts, by nitinol, 2018 - 2030 (USD Million)
Table 3 Shape memory alloys market estimates & forecasts, by copper-based alloys, 2018 - 2030 (USD Million)
Table 4 Shape memory alloys market estimates & forecasts, by others, 2018 - 2030 (USD Million)
Table 5 Shape memory alloys market estimates & forecasts, by biomedical, 2018 - 2030 (USD Million)
Table 6 Shape memory alloys market estimates & forecasts, by automotive, 2018 - 2030 (USD Million)
Table 7 Shape memory alloys market estimates & forecasts, by aerospace & defense, 2018 - 2030 (USD Million)
Table 8 Shape memory alloys market estimates & forecasts, by consumer electronics & household, 2018 - 2030 (USD Million)
Table 9 Shape memory alloys market estimates & forecasts, by others, 2018 - 2030 (USD Million)
Table 10 North America shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 11 North America shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 12 North America shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 13 U.S. shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 14 U.S. shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 15 U.S. shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 16 Canada shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 17 Canada shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 18 Canada shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 19 Mexico shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 20 Mexico shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 21 Mexico shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 22 Europe shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 23 Europe shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 24 Europe shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 25 Germany shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 26 Germany shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 27 Germany shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 28 UK shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 29 UK shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 30 UK shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 31 France shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 32 France shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 33 France shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 34 Asia Pacific shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 35 Asia Pacific shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 36 Asia Pacific shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 37 China shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 38 China shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 39 China shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 40 India shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 41 India shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 42 India shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 43 Japan shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 44 Japan shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 45 Japan shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 46 Central & South America shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 47 Central & South America shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 48 Central & South America shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
Table 49 Middle East & Africa shape memory alloys market estimates & forecasts, 2018 - 2030 (USD Million)
Table 50 Middle East & Africa shape memory alloys market estimates & forecasts, by product, 2018 - 2030 (USD Million)
Table 51 Middle East & Africa shape memory alloys market estimates & forecasts, by end use, 2018 - 2030 (USD Million)
List of Figures
Fig. 1 Market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segmental outlook - Product, End Use
Fig. 8 Competitive Outlook
Fig. 9 Shape memory alloys market outlook, 2018 - 2030 (USD Million) (Tons)
Fig. 10 Value chain analysis
Fig. 11 Market dynamics
Fig. 12 Porter’s Analysis
Fig. 13 PESTEL Analysis
Fig. 14 Shape memory alloys market, by product: Key takeaways
Fig. 15 Shape memory alloys market, by product: Market share, 2023 & 2030
Fig. 16 Shape memory alloys market, by end use: Key takeaways
Fig. 17 Shape memory alloys market, by end use: Market share, 2023 & 2030
Fig. 18 Shape memory alloys market: Regional snapshot

Companies Mentioned

  • ATI
  • Baoji Seabird Metal Material Co., Ltd.
  • Dynalloy, Inc.
  • Fort Wayne Metals Research Products Corp
  • Furukawa Electric Co., Ltd.
  • Johnson Matthey
  • Mishra Dhatu Nigam Limited (MIDHANI)
  • Nippon Seisen Co., Ltd.
  • Nippon Steel Corporation
  • SAES Group

Methodology

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Table Information

Report AttributeDetails
No. of Pages100
PublishedAugust 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 13.9 Billion
Forecasted Market Value ( USD ) by 2030 $ 29.29 Billion
Compound Annual Growth Rate11.3%
Regions CoveredGlobal
No. of Companies Mentioned10

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