Shape Memory Alloys Market Worth 18.97 Billion USD by 2022

PUNE, India, May 9, 2018 /PRNewswire/ --

The report "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", published by MarketsandMarkets™, the market is projected to reach USD 18.97 Billion by 2022, at a CAGR of 12.3% from an estimated USD 10.62 Billion in 2017. The growth of the Shape Memory Alloys (SMAs) market can be attributed to the increasing demand from the biomedical, aerospace & defense`, and consumer electronics & home appliances industries across the globe. The Shape Memory Alloys Market is expected to witness significant growth during the forecast period due to the superior characteristics of shape memory alloys, such as pseudo elasticity, shape memory effect, and high damping properties and the increasing demand from medical implant and electronic applications, which are factors expected to boost the demand for SMAs during the forecast period.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 77 market data Tables and 39 Figures spread through 126 Pages and in-depth TOC on "Shape Memory Alloys Market"

https://www.marketsandmarkets.com/Market-Reports/shape-memory-alloy-market-83856907.html
Early buyers will receive 10% customization on this report

Among types, the nitinol alloys market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022 

Based on type, the Shape Memory Alloys Market has been segmented into nitinol alloys, copper-based alloys, iron-manganese-silicon alloys, and others. The nitinol alloys segment accounted for the largest share of the Shape Memory Alloys Market in 2016 and is projected to grow at the highest CAGR during the forecast period. Nitinol alloys are largely used in the manufacture of implantable medical devices, surgical instruments, and automotive actuators. Thus, an increase in the demand for nitinol alloys for biomedical, automotive, and consumer electronics & home appliances industries is projected to drive the market for shape memory alloys. 

Get PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=83856907

The biomedical industry segment is projected to grow at the highest CAGR between 2017 and 2022 

The biomedical industry segment accounted for the largest share of the Shape Memory Alloys Market in 2016. Shape memory alloys are used in various applications ranging from medical implants, such as cardiovascular & endoscopic stents, orthopedic screws and wires, dental archwires, to the manufacture of automotive actuators, aircraft, and electronic components. Bio-medical and consumer electronics & home appliances are the fastest-growing end-use industries of the Shape Memory Alloys Market. Ageing populations, poor eating habits and lifestyles, and increasing instances of chronic diseases are the major factors fueling the demand for SMAs from the biomedical industry.

Asia Pacific Shape Memory Alloys Market is projected to grow at the highest CAGR during the forecast period 

The growth of the APAC Shape Memory Alloys Market can be attributed to the increasing demand from the biomedical and consumer electronics & home appliances industries. The region is expected to witness the highest growth because of rapid economic expansion, especially in China and India. Rapid industrialization in this region is also expected to fuel the demand for shape memory alloys from the electronics and construction applications. In this region, the demand as well as manufacture of consumer electronics has increased significantly and is expected to drive the requirement for shape memory alloys in the near future.  Moreover, increasing defense budgets, investments in aerospace industries, spending on healthcare, and availability of best healthcare services are expected to propel the demand for SMAs from the aerospace & defense and biomedical industries in the region. Further, increase in manufacturing activities combined with the region's emergence as a cost-effective production hub is expected to drive the Shape Memory Alloys Market. These factors are expected to propel the demand for shape memory alloys in the region.

ATI Specialty Alloys & Components (US), SAES (Italy) Johnson Matthey (UK), Nippon Steel & Sumitomo Metals (Japan), Furukawa Electric Company (Japan), Fort Wayne Metals (US), Nippon Seisen (Japan), Xi'an Saite Metal Materials (China), Seabird Metal Material (China), DYNALLOY, Inc. etc. are the key players operating in the Shape Memory Alloys Market.

Know more about Shape Memory Alloys Market: 

https://www.marketsandmarkets.com/Market-Reports/shape-memory-alloy-market-83856907.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets