The shape memory alloy (SMA) market is forecasted to grow by USD 2635.2 mn during 2023-2028, accelerating AT a CAGR of 10.87% during the forecast period. The report on the shape memory alloy (SMA) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by biocompatibility of nitinol, growing application areas of shape memory alloys, and increasing use by R and D institutions in aerospace and defense and consumer products.
Technavio's shape memory alloy (SMA) market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
9.53%
CAGR
10.87%
Incremental Value
$2635.2mn
By Application
Biomedical
Automotive
A and D
Others
By Type
Nickel-titanium
Copper-based
Others
By Geographical Landscape
North America
APAC
Europe
South America
Middle East and Africa
This study identifies the development of shape memory alloys with high fatigue life as one of the prime reasons driving the shape memory alloy (SMA) market growth during the next few years. Also, development of tires with shape memory alloy and adoption of iron-based shape memory alloys in construction will lead to sizable demand in the market.
The report on the shape memory alloy (SMA) market covers the following areas:
Shape memory alloy (SMA) market sizing
Shape memory alloy (SMA) market forecast
Shape memory alloy (SMA) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading shape memory alloy (SMA) market vendors that include Allegheny Technologies Inc., Boston Centerless Inc., Confluent Medical Technologies, DYNALLOY Inc, EUROFLEX GmbH, Fort Wayne Metals Research Products LLC, Furukawa Electric Co. Ltd., Hangzhou Ualloy Material Co. Ltd., Johnson Matthey PLC, LB Officine Meccaniche Spa, M and T (Taiwan) Co. Ltd., Metalwerks Inc., Nanoshel LLC, Nippon Seisen Co. Ltd, Nippon Steel Corp., Precision Castparts Corp., ResearchGate GmbH, SAES Getters Spa, and Sea Bird Scientific. Also, the shape memory alloy (SMA) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. IT presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Application
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Shape Memory Alloy (SMA) Market 2018 - 2022
Historic Market Size - Data Table on Global Shape Memory Alloy (SMA) Market 2018 - 2022 ($ million)