DUBLIN – (COMMERCIAL THREAD)–The “Shape Memory Alloys Market by Type and End Use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030” the report was added to ResearchAndMarkets.com offer.

The global shape memory alloys market was valued at $ 9.2 billion in 2020 and is expected to reach $ 19.5 billion by 2030, with a CAGR of 8.2% from 2021 to 2030.

Shape memory alloys (SMA) are metals that have two very distinct properties: pseudo-elasticity and shape memory, these two unique properties are made possible by a phase change in the solid state, which is a molecular rearrangement that occurs in the solid state. Molecular rearrangement occurs in a solid state phase change; however, the molecules remain tightly packed, causing the substance to remain solid. A temperature shift of only about 10 degrees C is required to initiate a phase change in most shape memory alloys. Martensite and austenite are the two phases present in shape memory alloys.

At lower temperatures, martensite is the relatively soft and easily deformed phase of shape memory alloys. This molecular structure is twinned and when deformed, it takes on the second form of austenite. The structure of austenite is cubic in shape. On a macroscopic scale, the undeformed martensite phase has the same size and shape as the cubic austenite phase, therefore, no change in size or shape is observable in shape memory alloys until ‘that the martensite is deformed.

One of the major growth factors in the shape memory alloys market is the expansion of the automotive industry. Significant advances in other sectors such as civil, robotics, defense, biomedical and aerospace are also driving demand for SMA. With the increasing popularity of consumer electronics around the world, SMAs that can be stretched or bent to meet the user’s needs are becoming more and more popular. Furthermore, another driving force behind the SMA market is the growing popularity of nitinol alloys. SMAs are used in the medical industry to make medical implants such as stents, dental floss, orthopedic screws, and other surgical equipment. Other factors are expected to drive the market in the future, including the increased adoption of products in the aerospace sector, increased defense spending by governments in both established and emerging countries, and the significant expansion of the aerospace industry. construction.

In addition, the market is expected to grow as these alloys are used in safety equipment such as anti-scald and automatic fire extinguishers. Anti-scald valves made from these metals can be used in water faucets and sprinkler systems, as they automatically shut off the water flow when the temperature reaches a specified level. The fundamental disadvantage of shape memory alloy fire sprinklers is the response time.

However, there are some factors expected to restrain the growth of the shape memory alloys market. The market is constrained by the high cost of these alloys and the sensitivity of material properties during the manufacturing process.

Key Benefits

  • The report provides an in-depth analysis of the global shape memory alloys market along with current trends and future estimates.

  • This report highlights the key drivers, opportunities and restraints of the market along with the impact analysis during the forecast period.

  • Porter’s five forces analysis helps to analyze the potential of buyers and suppliers and competitive scenario of the global Shape Memory Alloys industry for strategy making.

  • A comprehensive market analysis covers the factors driving and restraining the growth of the Global Shape Memory Alloys Market.

  • Qualitative data on market dynamics, trends and developments are provided in the report.

Impact of COVID-19

  • COVID-19 has spread to nearly 213 countries around the world, with the World Health Organization declaring it a public health emergency on March 11, 2020.

  • Germany, France, Italy, Spain, UK and Norway are among the major economies suffering from the COVID-19 crisis.

  • Shape memory alloys are mainly used in the medical, automotive, aerospace and defense industries.

  • In many countries, the economy has fallen due to the shutdown of several industries, especially transportation and the supply chain. Demand for the product has been hampered as there is no development due to the lockdown.

  • The gap between supply and demand, disruptions in the supply of raw materials and price volatility are expected to hamper industry growth during the COVID-19 pandemic.

  • Due to the scarcity of resources in various parts of the world, the COVID-19 outbreak has negatively impacted manufacturing and industrial industries. Major industry players are concerned about the market outlook and are rethinking their strategies to meet the challenge.

  • Companies are incorporating various techniques to increase production volume and attempt to develop innovative, affordable solutions that can meet customer requirements at lower cost and support the global breakthrough required for increased sustainability of perfume product penetration.

Market dynamics

Conductors

  • Increased demand from the biomedical sector

  • Increase demand from the automotive industry

Detention

  • Fluctuating cost of raw materials

Opportunities

  • Growing demand from the electronics industry

Challenges

  • Pandemic and its effects on the actuator market

Key market players

  • Furukawa

  • Johnson matthey

  • Metallurgy Inc.

  • G. Rau GmbH & Co. KG

  • Fort Wayne Metals

  • Xi’an Saite Metal Material

  • Metal sea bird

  • Dynalloyinc

  • Saes Gaetter

  • Ati specialty alloys and components.

For more information on this report, visit https://www.researchandmarkets.com/r/x7ponj


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