Shape memory alloy market: Growth opportunities led by Allegheny Technologies Inc, Boston Centerless Inc, Confluent Medical Technologies


NEW YORK, Dec. 16, 2022 /PRNewswire/ — The shape memory alloy market size is forecast to increase by USD 2142.28 million from 2022 to 2027, at a CAGR of 9.84%, according to the recent market study by Technavio. The growth of the market will be driven by the biocompatibility of Nitinol, growing application areas of shape memory alloys, and increasing use by R&D institutions in aerospace and defense and consumer products.

Technavio has announced its latest market research report titled Global Shape Memory Alloy Market 2023-2027

Technavio has announced its latest market research report titled Global Shape Memory Alloy Market 2023-2027

Technavio categorizes the global shape memory alloy market as a part of the global diversified metals and mining market within the global materials market. The parent global diversified metals and mining market covers companies engaged in the production or extraction of metals and minerals such as nonferrous metals (except bauxite), salt and borate, phosphate rock, and diversified metal mining operations. Nonferrous metals mainly include lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium. It also includes various alloys of nonferrous metals.

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download the Sample Report

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The market is segmented by application (biomedical, automotive, A&D, and others), type (nickel-titanium, copper-based, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

Segmentation by application (biomedical, automotive, A&D, and others)

  • Biomedical: The market share growth of the biomedical segment will be significant during the forecast period. The rising use of Nitinol in biomedical applications is driving the growth of the market for application in the biomedical industry. The global medical device market is expanding rapidly due to improving economic conditions, particularly in industrialized nations, and a growing population of persons over the age of 65. The prevalence of orthopedic, dental, and cardiovascular issues is rising along with the world population. This, together with technological advancements and rising healthcare costs, is fueling demand for medical devices such as stents, bone staples, and orthodontic clips.

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Technavio has extensively analyzed 15 major vendors, including Allegheny Technologies Inc., Boston Centerless Inc., Confluent Medical Technologies, DYNALLOY Inc, EUROFLEX GmbH, Fort Wayne Metals Research Products Corp., Furukawa Electric Co. Ltd., Hangzhou Ualloy Material Co. Ltd., Johnson Matthey Plc, LB Officine Meccaniche Spa, M & 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

Key benefits for industry players & stakeholders – 

  • The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

  • It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.

  • The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in the future – To get requisite details, ask for a custom report.

Customer landscape – Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio

  • One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.

  • Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.

  • Furthermore, market adoption rates for all regions have been covered.

Get a holistic overview of the shape memory alloy market by industry experts to evaluate and develop growth strategies. Download the Sample 

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What are the key data covered in this shape memory alloy market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the shape memory alloy market between 2023 and 2027

  • Precise estimation of the size of the shape memory alloy market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the shape memory alloy market across North America, APAC, Europe, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of shape memory alloy market vendors

Shape Memory Alloy Market Scope

Report Coverage

Details

Page number

168

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 9.84%

Market growth 2023-2027

USD 2142.28 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.18

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 35%

Key countries

US, China, Japan, Germany, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Allegheny Technologies Inc., Boston Centerless Inc., Confluent Medical Technologies, DYNALLOY Inc, EUROFLEX GmbH, Fort Wayne Metals Research Products Corp., Furukawa Electric Co. Ltd., Hangzhou Ualloy Material Co. Ltd., Johnson Matthey Plc, LB Officine Meccaniche Spa, M & 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

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio “Materials” Research Reports

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Global Shape Memory Alloy Market 2023-2027

Global Shape Memory Alloy Market 2023-2027

Cision

Cision

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SOURCE Technavio



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Shape memory alloy market: Growth opportunities led by Allegheny Technologies Inc, Boston Centerless Inc, Confluent Medical Technologies

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