, /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 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

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.

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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.

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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

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Shape Memory Alloy Market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global Shape Memory Alloy Market 2017 - 2021 ($ million)

• 4.2 Geography Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Type Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Biomedical - Market size and forecast 2022-2027
• Exhibit 34: Chart on Biomedical - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Biomedical - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Biomedical - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Biomedical - Year-over-year growth 2022-2027 (%)

• 6.4 Automotive - Market size and forecast 2022-2027
• Exhibit 38: Chart on Automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Automotive - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Automotive - Year-over-year growth 2022-2027 (%)

• 6.5 A and D - Market size and forecast 2022-2027
• Exhibit 42: Chart on A and D - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on A and D - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on A and D - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on A and D - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027
• Exhibit 46: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Application 
• Exhibit 50: Market opportunity by Application ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 51: Chart on Type - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 53: Chart on Comparison by Type
• Exhibit 54: Data Table on Comparison by Type

• 7.3 Nickel-titanium - Market size and forecast 2022-2027
• Exhibit 55: Chart on Nickel-titanium - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Nickel-titanium - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Nickel-titanium - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Nickel-titanium - Year-over-year growth 2022-2027 (%)

• 7.4 Copper-based - Market size and forecast 2022-2027
• Exhibit 59: Chart on Copper-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Copper-based - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Copper-based - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Copper-based - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Type 
• Exhibit 67: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 105: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027
• Exhibit 109: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Allegheny Technologies Inc. 
• Exhibit 120: Allegheny Technologies Inc. - Overview
• Exhibit 121: Allegheny Technologies Inc. - Business segments
• Exhibit 122: Allegheny Technologies Inc. - Key news
• Exhibit 123: Allegheny Technologies Inc. - Key offerings
• Exhibit 124: Allegheny Technologies Inc. - Segment focus

• 12.4 Boston Centerless Inc. 
• Exhibit 125: Boston Centerless Inc. - Overview
• Exhibit 126: Boston Centerless Inc. - Product / Service
• Exhibit 127: Boston Centerless Inc. - Key news
• Exhibit 128: Boston Centerless Inc. - Key offerings

• 12.5 Confluent Medical Technologies 
• Exhibit 129: Confluent Medical Technologies - Overview
• Exhibit 130: Confluent Medical Technologies - Product / Service
• Exhibit 131: Confluent Medical Technologies - Key news
• Exhibit 132: Confluent Medical Technologies - Key offerings

• 12.6 DYNALLOY Inc 
• Exhibit 133: DYNALLOY Inc - Overview
• Exhibit 134: DYNALLOY Inc - Product / Service
• Exhibit 135: DYNALLOY Inc - Key offerings

• 12.7 EUROFLEX GmbH 
• Exhibit 136: EUROFLEX GmbH - Overview
• Exhibit 137: EUROFLEX GmbH - Product / Service
• Exhibit 138: EUROFLEX GmbH - Key offerings

• 12.8 Fort Wayne Metals Research Products Corp.
• Exhibit 139: Fort Wayne Metals Research Products Corp. - Overview
• Exhibit 140: Fort Wayne Metals Research Products Corp. - Product / Service
• Exhibit 141: Fort Wayne Metals Research Products Corp. - Key offerings

• 12.9 Furukawa Electric Co. Ltd. 
• Exhibit 142: Furukawa Electric Co. Ltd. - Overview
• Exhibit 143: Furukawa Electric Co. Ltd. - Business segments
• Exhibit 144: Furukawa Electric Co. Ltd. - Key news
• Exhibit 145: Furukawa Electric Co. Ltd. - Key offerings
• Exhibit 146: Furukawa Electric Co. Ltd. - Segment focus

• 12.10 Hangzhou Ualloy Material Co. Ltd. 
• Exhibit 147: Hangzhou Ualloy Material Co. Ltd. - Overview
• Exhibit 148: Hangzhou Ualloy Material Co. Ltd. - Product / Service
• Exhibit 149: Hangzhou Ualloy Material Co. Ltd. - Key offerings

• 12.11 Johnson Matthey Plc 
• Exhibit 150: Johnson Matthey Plc - Overview
• Exhibit 151: Johnson Matthey Plc - Business segments
• Exhibit 152: Johnson Matthey Plc - Key offerings
• Exhibit 153: Johnson Matthey Plc - Segment focus

• 12.12 LB Officine Meccaniche Spa 
• Exhibit 154: LB Officine Meccaniche Spa - Overview
• Exhibit 155: LB Officine Meccaniche Spa - Business segments
• Exhibit 156: LB Officine Meccaniche Spa - Key news
• Exhibit 157: LB Officine Meccaniche Spa - Key offerings
• Exhibit 158: LB Officine Meccaniche Spa - Segment focus

• 12.13 M T (Taiwan) Co. Ltd. 
• Exhibit 159: M T (Taiwan) Co. Ltd. - Overview
• Exhibit 160: M T (Taiwan) Co. Ltd. - Product / Service
• Exhibit 161: M T (Taiwan) Co. Ltd. - Key offerings

• 12.14 Metalwerks Inc. 
• Exhibit 162: Metalwerks Inc. - Overview
• Exhibit 163: Metalwerks Inc. - Product / Service
• Exhibit 164: Metalwerks Inc. - Key offerings

• 12.15 Nanoshel LLC 
• Exhibit 165: Nanoshel LLC - Overview
• Exhibit 166: Nanoshel LLC - Product / Service
• Exhibit 167: Nanoshel LLC - Key offerings

• 12.16 Nippon Seisen Co. Ltd. 
• Exhibit 168: Nippon Seisen Co. Ltd. - Overview
• Exhibit 169: Nippon Seisen Co. Ltd. - Product / Service
• Exhibit 170: Nippon Seisen Co. Ltd. - Key offerings

• 12.17 ResearchGate GmbH 
• Exhibit 171: ResearchGate GmbH - Overview
• Exhibit 172: ResearchGate GmbH - Product / Service
• Exhibit 173: ResearchGate GmbH - Key news
• Exhibit 174: ResearchGate GmbH - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 175: Inclusions checklist
• Exhibit 176: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 177: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 178: Research methodology
• Exhibit 179: Validation techniques employed for market sizing
• Exhibit 180: Information sources

• 13.5 List of abbreviations 
• Exhibit 181: List of abbreviations

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