Global Shape Memory Alloys market will reach 1087.94 million US$ by the end of 2025

Publisher: QYResearch

Published Date: 2019/7/4

A shape memory alloy (SMA) is an alloy that "remembers" its original shape and that when deformed returns to its pre-deformed shape when heated. This material is a lightweight, solid-state alternative to conventional actuators such as hydraulic, pneumatic, and motor-based systems. Shape-memory alloys have applications in industries including Automotive, aerospace, and biomedical and robotics. Nickel-titanium alloys have been found to be the most useful of all SMAs. Other shape memory alloys include copper-aluminum-nickel, copper-zinc-aluminum, and iron-manganese-silicon alloys. The generic name for the family of nickel-titanium alloys is Nitinol.

At present, in the foreign industrial developed countries the shape memory alloys industry is generally at a more advanced level, the world's large enterprises are mainly concentrated in the Europe United States and Japan. Meanwhile, foreign companies have more mature equipment, strong R & D capability, the technical level is in a leading position. But foreign companies’ manufacturing cost is relatively high, compared with china’s companies, the manufacturing cost is competitive disadvantage, as the Chinese shape memory alloys production enterprise technology continues to improve, their share in the international market is increasing, competitiveness in the international market gradually increase .

China shape memory alloys industry has developed into a national industry with certain research and production capacity, industry product mix has gradually improved. Currently, China has become international shape memory alloys major consumption country, but the production technology is relatively laggard, currently can only produce some low-end product. Although after 2012 the new production lines is increasing, the technology is still relying on import.

With the rapid growth of the national economy as well as the rapid development of downstream industries, Chinese shape memory alloys market demand is increasing, it provide a good opportunity for the development of Shape memory alloys market and technology.

The global Shape Memory Alloys market is valued at 603.61 million US$ in 2018 is expected to reach 1087.94 million US$ by the end of 2025, growing at a CAGR of 8.76% during 2019-2025.

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