DUBLIN--(BUSINESS WIRE)--The "Shape Memory Alloys Market by Type (Nitinol, Copper-Based, Iron-Manganese Silicon), End-Use Industry (Biomedical, Aerospace & Defense, Automotive, Consumer Electronics & Home Appliances), and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The Shape Memory Alloys Market is estimated at USD 10.62 Billion in 2017 and is projected to reach USD 18.97 Billion by 2022, at a CAGR of 12.3% from 2017 to 2022.
The growth of the shape memory alloys market can be attributed to the increasing demand from the biomedical, aerospace & defense, automotive, consumer electronics & home appliances industries across the globe. Rising cost of raw materials such as nickel, copper, titanium, aluminum, and other materials acts as a major restraint for the market.
Moreover, the rising demand for these alloys from emerging economies in the APAC has led to a demand and supply imbalance. Shape memory alloys find applications in various end-use industries because of their unique properties such as pseudo elasticity, shape memory effect, high fatigue life, and damping.
Nitinol alloys are projected to be the largest as well as the fastest-growing type of the shape memory alloys market. Nitinol alloys are majorly used in the biomedical industry for extensive applications in medical implants, such as cardiovascular stents & wires, orthopedic screws & wires, dental wires, and surgical instruments.
Further, countries such as India and China with high populations provide opportunities for the shape memory alloys market owing to the increasing demand for consumer electronics. Increasing healthcare and defense spending and growing automotive and aerospace industries are also expected to fuel the demand for shape memory alloys globally.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Shape Memory Alloys Market, By Type
7 Shape Memory Alloys Market, By End-Use Industry
8 Shape Memory Alloys Market, By Region
9 Competitive Landscape
10 Company Profiles
- ALB Materials Inc.
- ATI Specialty Alloys & Components
- Boston Centerless
- Confluent Medical Technologies
- Dynalloy Inc.
- Euroflex GmbH
- Fort Wayne Metals
- Furukawa Electric Company
- General Research Institute for Nonferrous Metals (GRINM)
- Hangzhou Ualloy Material Co., Ltd.
- Johnson Matthey
- M & T (Taiwan) Co., Ltd.
- Metalwerks PMD
- Microgroup Inc.
- Nanoshel LLC
- Nippon Seisen Co. Ltd.
- Nippon Steel & Sumitomo Metal
- Precision Castparts Corp.
- Seabird Metal Material Co., Ltd.
- Sma Wires India
- Stanford Advanced Materials
- Sunrise Titanium Technology
- Ultimate Niti Technologies
- Xian Saite Metal Materials Development Company Limited
For more information about this report visit https://www.researchandmarkets.com/research/b9nv68/shape_memory?w=4