Dublin, April 05, 2024 (GLOBE NEWSWIRE) -- The "Shape Memory Alloys - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Shape Memory Alloys Market to Reach $31.9 Billion by 2030
The global market for Shape Memory Alloys estimated at US$14 Billion in the year 2023, is projected to reach a revised size of US$31.9 Billion by 2030, growing at a CAGR of 10.9% over the analysis period 2023-2030.
Nitinol-based Shape Memory Alloys, one of the segments analyzed in the report, is projected to record 10.9% CAGR and reach US$22.5 Billion by the end of the analysis period. Growth in the Copper-Based Shape Memory Alloys segment is estimated at 13% CAGR for the next 8-year period.
The U.S. Market is Estimated at $4.8 Billion, While China is Forecast to Grow at 13.1% CAGR
The Shape Memory Alloys market in the U.S. is estimated at US$4.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$6.2 Billion by the year 2030 trailing a CAGR of 13.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 10.2% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.1% CAGR.
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Shape Memory Alloys - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Why Investing in Materials Innovation is Vital for Countries & Their Economy
- Implications of Materials Innovation on Core Areas of Economy
- Shape Memory Alloys: A Prelude
- Nitinol Emerges as Popular Shape Memory Alloy
- Biomedical & Aerospace: Principal Segments of Shape Memory Alloys Market
- North America Captures Majority Stake in Global Shape Memory Alloys Market
- Market Outlook: SMAs Market Appears Poised to Maintain Good Shape
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Shape Memory Alloys Enjoy Increasing Acceptance for Biomedical Applications
- Growing Focus Accelerated Healing for Fractured Bones to Drive SMA Application in Orthopedic Implants
- Select Musculoskeletal Conditions - Percentage Breakdown by Age Group
- Percentage Share Breakdown of Number of Fractures by Age Group
- Shape Memory Alloys in Cardiac Procedures
- COVID-19 Weighs Heavily on Shape Memory Alloy Demand in Cardiac Care
- US Surgical Procedure Volumes in Thousands: 2019, 2020 and 2025
- Nickel-Titanium Alloy Holds Potential to Spark Endodontic Transformation
- Future Scope
- Pandemic Presents Challenging Times for Dental Market
- Use of AI in the Design of Shape Metal Alloys Gains Momentum
- Additive manufacturing (AM) Widens Application Range for Nitinols
- Shape Memory Alloys Endow Stellar Possibilities for Aerospace Industry
- Potent Wing Applications of Shape Memory Alloys
- SMAs to Reduce Unpleasant Airplane Noise during Descent
- A Note on Importance of Material Innovation for Aircraft Manufacturers
- COVID-19 Plays Spoilsport to Airlines Market Affecting SMAs Industry
- COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020
- Staged Recovery over Long-Term to Benefit Demand
- Global Aircraft Deliveries by Region: 2021-2040
- Organizations Explore Application of SMAs in Space Programs
- Global Commercial CubeSats Market in US$ Billion: 2018 and 2024
- Number of CubeSat Launches: 2002-2020E
- SMAs Emerge as a Compelling Option for Automotive Actuators
- Expanding Role of Electronics in Automotive Vehicles Spurs Demand
- Automotive Electronics as a Percentage (%) of Vehicle Production Cost for the Years 2010, 2020 & 2030
- World Automobile Production in Million Units: 2008-2022
- Shape Memory Alloys for Micro-Electromechanical Systems
- Consumer Electronics to Gain from Hardware Innovations Enabled by SMAs
- Global Opportunity for Consumer Electronics (In US$ Million) for Years 2020, 2022, 2024, 2026 and 2028
- New Smartphone Imaging Trends Benefit the Demand for SMA Actuators
- Global Smartphone Shipments in Million Units: 2010-2022
- Simplifying Innovations in Household Appliance Technology
- Rise in Home Automation (Domotics) to Support Demand for Shape Memory Alloys
- Rising Need for Home Automation Presents Steady Growth Opportunities for Shape Memory Alloys: Global Home Automation System Market (In US$ Billion) for the Years 2020, 2022, 2024, 2026 & 2027
- Growth in Demand for Shape Memory Alloys in Luxury Sector
- SMAs Playing an Important Role in Offering Antiscald Protection in Showerheads Industry
- Eyeglass Frames Get Super Elastic with SMAs
- SMAs Drive Reliability of Fire Sprinklers in Fire Control
- Long Shape Memory Alloy Tendons for Soft Robotic Systems with Soft Grippers
FOCUS ON SELECT PLAYERS (Total 48 Featured)
- Johnson Matthey PLC
- Allegheny Technologies, Inc. (ATI)
- Daido Steel Co., Ltd.
- Admedes Schuessler GmbH
- Fort Wayne Metals Research Products Corp.
- MicroGroup
- Memry Corporation
- Confluent Medical Technologies
- Ensign-Bickford Aerospace & Defense Company (EBA&D)
- Kellogg`s Research Labs
- China Metallurgical Information and Standardization Institute (CMISI)
- KITECH (Korea Institute of Industrial Technology)
- Consolidated Aerospace Manufacturing
- Kinalco
- ETO Gruppe
For more information about this report visit https://www.researchandmarkets.com/r/rtrqjb
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