DUBLIN--(BUSINESS WIRE)--The "Shape Memory Alloys - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The publisher brings years of research experience to this 6th edition of the report. The 182-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Shape Memory Alloys Market to Reach US$31 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Shape Memory Alloys estimated at US$14.4 Billion in the year 2020, is projected to reach a revised size of US$31 Billion by 2027, growing at a CAGR of 11.6% over the analysis period 2020-2027.
Nitinol, one of the segments analyzed in the report, is projected to grow at a 12.9% CAGR to reach US$17.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Copper-Based segment is readjusted to a revised 11.6% CAGR for the next 7-year period. This segment currently accounts for a 21.9% share of the global Shape Memory Alloys market.
The U.S. Accounts for Over 29.5% of Global Market Size in 2020, While China is Forecast to Grow at a 11.1% CAGR for the Period of 2020-2027
The Shape Memory Alloys market in the U.S. is estimated at US$4.2 Billion in the year 2020. The country currently accounts for a 29.52% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$5.4 Billion in the year 2027 trailing a CAGR of 11.1% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.4% and 9.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR while Rest of European market (as defined in the study) will reach US$5.4 Billion by the year 2027.
Iron-Manganese Silicon Segment Corners a 16.8% Share in 2020
In the global Iron-Manganese Silicon segment, USA, Canada, Japan, China and Europe will drive the 9.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.9 Billion in the year 2020 will reach a projected size of US$3.6 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.6 Billion by the year 2027.
Competitors identified in this market include, among others:
- ALB Materials Inc.
- Ati Specialty Alloys & Components
- Boston Centerless, Inc.
- Confluent Medical Technologies
- Dynalloy, Inc.
- Euroflex GmbH
- Fort Wayne Metals
- Furukawa Electric Co. Ltd.
- General Research Institute for Nonferrous Metals
- Hangzhou Ualloy Material Co. Ltd.
- Johnson Matthey PLC
- M & T (Taiwan) Co. Ltd.
- Metalwerks, Inc.
- Nanoshel LLC
- Nippon Seisen Co. Ltd.
- Nippon Steel & Sumitomo Metal Corporation
- Precision Castparts Corporation
- SAES Getters S.p.A.
- Seabird Metal Material Co. Ltd.
- Stanford Advanced Materials
- Sunrise Titanium Technology Co. Ltd.
- Ultimate R&D
- Xi'an Saite Metal Materials Development Co. Ltd. (SAITE)
Total Companies Profiled: 38
For more information about this report visit https://www.researchandmarkets.com/r/tlmue7