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Shape Memory Alloys Market size worth $ 28.18 Billion, Globally, by 2028 at 14.02% CAGR: Verified Market Research

The Rapidly growing medical implants industry is the crucial aspect of the rise in the market revenue of Shape-Memory Alloy as well as the growing demand from the aerospace & defense industry will foster market growth.

JERSEY CITY, N.J., Nov. 25, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Shape Memory Alloys Market" By Type (Nitinol, Copper-Based, Iron-Manganese Silicon), By End-Use Industry (Biomedical, Aerospace & Defence, Automotive), and By Geography. According to Verified Market Research, the Global Shape Memory Alloys Market size was valued at USD 12.03 Billion in 2020 and is projected to reach USD 28.18 Billion by 2028, growing at a CAGR of 14.02% from 2021 to 2028.

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Browse in-depth TOC on "Shape Memory Alloys Market"
202 - Pages
126 - Tables
37 - Figures

Global Shape Memory Alloys Market Overview

The marketplace for shape memory alloys is anticipated to witness significant growth during the forecast period owing to an outsized number of applications in various end-user industries. The application of these alloys in safety devices such as anti-scalding and fire sprinklers is expected to boost the market shortly. Anti-scalding valves made from these alloys can be used in water faucets and showerheads, as they automatically shut off the water flow after a certain temperature. Delay in response time is the primary disadvantage of shape memory alloy-based fire sprinklers. The aerospace application segment accounted for a big share of the form memory alloys market. It is anticipated to continue its leading position during the forecast period. Shape memory alloys are employed in aerospace applications owing to their beneficial properties such as wear resistance, high mechanical strength, lightweight, fatigue resistance, and high elasticity.

However, certain factors are estimated to hamper the form memory alloys market during the forecast period. The high cost of these alloys and sensitivity of the material properties during fabrication are the restraining factors of the market.

Key Developments

  • In Jan 2018 Fort Wayne metals has acquired G &S Bar & Wire.
  • In Jan 2021 Nexremity Solutions, Inc. enters into an exclusive agreement with Fort Wayne Metals in order to commercialize implants using Magnesium Alloy.
  • In Aug 2021 Johnson matthey & KBR sign alliance Agreement to license Innovative Production Technology.

Key Players

The major players in the market are SAES, Nippon Steel & Sumitomo Metals, Fort Wayne Metals, Xi'an Saite Metal Materials, DYNALLOY, Inc., ATI Specialty Alloys & Components, Johnson Matthey, Furukawa Electric Company, Nippon Seisen, and Seabird Metal Material.

Verified Market Research has segmented the Global Shape Memory Alloys Market On the basis of Type, End-Use Industry, and Geography.

  • Shape Memory Alloys Market, By Type
    • Nitinol
    • Copper-Based
    • Iron-Manganese Silicon
    • Other
  • Shape Memory Alloys Market, By End-Use Industry
    • Biomedical
    • Aerospace & Defence
    • Automotive
    • Consumer Electronics
    • Home Appliances
    • Others
  • Shape Memory Alloys Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Visualize Shape Memory Alloys Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.

Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

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