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Shape Memory Alloys Market Share

Report ID: GMI3261
Published Date: Sep 2024
Report Format: PDF

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Shape Memory Alloys Market Share

Companies include, Allegheny Technologies Incorporated, SAES Getters, Johnson Matthey, Nippon Steel, and Sumitomo Metal are making notable contributions. Allegheny Technologies is advancing SMA technology through its focus on high-performance alloys and innovative manufacturing techniques. SAES Getters is renowned for its expertise in developing advanced NiTi alloys, enhancing their application in medical devices and electronics. Johnson Matthey is driving innovation in SMA processing and material science, contributing to improved product performance and sustainability. Nippon Steel is leveraging its expertise in metallurgy to produce high-quality, reliable SMA products, particularly for automotive and industrial uses. Sumitomo Metal’s contributions include the development of advanced copper-based SMAs, which offer cost-effective solutions with excellent thermal properties.

Shape Memory Alloys Market Companies

Top companies operating in the industry include:

Allegheny Technologies Incorporated
Fort Wayne Metals
Furukawa Electric Co., Ltd.
Johnson Matthey
Nippon Seisen Co., Ltd.
Nippon Steel Corporation
SAES Getters
Seabird Metal Material Co., Ltd.
Sumitomo Metal Mining Co., Ltd.
Xi'an Saite Metal Materials Development Co., Ltd.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for shape memory alloys was valued at USD 17.65 billion in 2023 and is projected to grow at a 13% CAGR from 2024 to 2032, driven by rapid advancements in the biomedical, aerospace & defense, and automotive sectors.

In 2023, the biomedical segment held a 43.24% market share, amounting to USD 7.63 billion. It is expected to grow at an 11.8% CAGR from 2024 to 2032, driven by applications in dental implants, stents, and catheters, as well as the growing biomedical industry in developing countries.

The North America market is projected to reach USD 15.5 million by 2032, with a CAGR of 12.4% from 2024 to 2032. This growth is driven by technological advancements and increased demand across various sectors, including aerospace, automotive, and medical industries.

Leading companies in the industry include Allegheny Technologies Incorporated, Fort Wayne Metals, Furukawa Electric Co., Ltd., Johnson Matthey, Nippon Seisen Co., Ltd., Nippon Steel Corporation, SAES Getters, Seabird Metal Material Co., Ltd., and Sumitomo Metal Mining Co., Ltd.