Table of Content

1 INTRODUCTION 32
1.1 OBJECTIVES OF THE STUDY 32
1.2 MARKET DEFINITION 32
1.3 MARKET SCOPE 33
TABLE 1 INCLUSIONS AND EXCLUSIONS 33
FIGURE 1 SHAPE MEMORY ALLOYS MARKET SEGMENTATION 33
1.3.1 REGIONS COVERED 34
1.3.2 YEARS CONSIDERED FOR THE STUDY 34
1.4 CURRENCY 35
1.5 STAKEHOLDERS 35
1.6 SUMMARY OF CHANGES 35
2 RESEARCH METHODOLOGY 37
2.1 RESEARCH DATA 37
FIGURE 2 SHAPE MEMORY ALLOYS MARKET: RESEARCH DESIGN 37
2.1.1 SECONDARY DATA 38
2.1.1.1 Key data from secondary sources 38
2.1.2 PRIMARY DATA 39
2.1.2.1 Key data from primary sources 39
2.1.2.2 Key industry insights 40
2.1.2.3 Breakdown of primary interviews 40
2.2 MARKET SIZE ESTIMATION 41
2.2.1 SUPPLY-SIDE APPROACH: ASCERTAINING THE SHARE OF TOP PLAYERS IN THE GLOBAL MARKET, 41
FIGURE 3 APPROACH 1: SUPPLY SIDE, 2019 41
2.2.2 DEMAND-SIDE APPROACH: BASED ON ASSESSMENT BY TYPE AND ITS SHARE IN THE GLOBAL MARKET 41
FIGURE 4 APPROACH 2: BASED ON TYPE DEMAND ESTIMATE, 2019 42
2.2.3 RELATED MARKET APPROACH: BASED ON ASSESSMENT BY SHARE OF SHAPE MEMORY ALLOYS IN SMART MATERIAL MARKET 42
FIGURE 5 APPROACH 3: BASED ON THE SHARE FROM THE PARENT MARKET 42
2.3 DATA TRIANGULATION 43
FIGURE 6 SHAPE MEMORY ALLOYS MARKET: DATA TRIANGULATION 43
2.3.1 ASSUMPTIONS 44
2.3.2 LIMITATIONS 44
2.3.3 GROWTH RATE ASSUMPTIONS 44
2.4 FORECAST FACTOR IMPACTING GROWTH 45
FIGURE 7 FORECAST FACTOR IMPACTING GROWTH 45
3 EXECUTIVE SUMMARY 46
FIGURE 8 NITINOL SEGMENT ACCOUNTED FOR THE LARGEST SHARE OF THE MARKET IN 2020 47
FIGURE 9 PREFERENCE OF SHAPE MEMORY ALLOYS, TYPE VS. END-USE INDUSTRY 47
FIGURE 10 BIOMEDICAL END-USE INDUSTRY ACCOUNTED FOR THE LARGEST SHARE OF THE MARKET IN 2020 48
FIGURE 11 NORTH AMERICA WAS THE LARGEST SHAPE MEMORY ALLOY MARKET IN 2020 49
TABLE 2 MAJOR PLAYERS PROFILED IN THIS REPORT 50
4 PREMIUM INSIGHTS 51
4.1 SIGNIFICANT OPPORTUNITIES IN SHAPE MEMORY ALLOYS MARKET 51
FIGURE 12 BIOMEDICAL AND AEROSPACE & DEFENSE INDUSTRIES TO OFFER MARKET GROWTH OPPORTUNITIES 51
4.2 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET, BY END-USE INDUSTRY AND COUNTRY, 2020 52
FIGURE 13 US AND BIOMEDICAL SEGMENT ACCOUNTED FOR THE LARGEST SHARES 52
4.3 SHAPE MEMORY ALLOYS MARKET, BY TYPE 52
FIGURE 14 NITINOL (NITI) TO DOMINATE THE OVERALL SHAPE MEMORY ALLOYS MARKET, 2021–2026 52
4.4 SHAPE MEMORY ALLOYS MARKET, BY END-USE INDUSTRY 53
FIGURE 15 BIOMEDICAL TO DOMINATE THE OVERALL SHAPE MEMORY ALLOYS MARKET, 2021–2026 53
4.5 SHAPE MEMORY ALLOYS MARKET, BY COUNTRY 53
FIGURE 16 CHINA TO BE THE FASTEST-GROWING MARKET DURING THE FORECAST PERIOD 53
5 MARKET OVERVIEW 54
5.1 INTRODUCTION 54
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN SHAPE MEMORY ALLOYS MARKET 54
5.2 MARKET DYNAMICS 55
5.2.1 DRIVERS 55
5.2.1.1 Aging population and growing adoption of biomedical implants across the globe 55
TABLE 3 WORLD POPULATION AGING, 2019 55
5.2.1.2 Increasing investment in the aerospace & defense industry 56
TABLE 4 MILITARY EXPENDITURE, BY REGION, USD BILLION, 2018-2020 56
5.2.1.3 Increased utilization of nitinol-based SMAs in various end-use industries 56
5.2.1.4 Increasing penetration of SMAs in the automotive industry 57
5.2.2 RESTRAINTS 57
5.2.2.1 Rising cost of raw materials and availability of substitutes 57
FIGURE 18 LME NICKEL HISTORICAL PRICE (USD PER TONNE) 58
5.2.2.2 High cost of metal implants 58
5.2.3 OPPORTUNITIES 58
5.2.3.1 Growth of the consumer electronics industry 58
5.2.3.2 Rapid industrialization and growing adoption of industrial and service robots 59
5.2.4 CHALLENGES 59
5.2.4.1 Pandemic and its effect on the actuator market 59
5.3 PORTER’S FIVE FORCES ANALYSIS 60
FIGURE 19 SHAPE MEMORY ALLOYS MARKET: PORTER’S FIVE FORCES ANALYSIS 60
5.3.1 BARGAINING POWER OF SUPPLIERS 60
5.3.2 BARGAINING POWER OF BUYERS 61
5.3.3 INTENSITY OF COMPETITIVE RIVALRY 61
5.3.4 THREAT OF NEW ENTRANTS 61
5.3.5 THREAT OF SUBSTITUTES 61
TABLE 5 SHAPE MEMORY ALLOYS MARKET: PORTER’S FIVE FORCES ANALYSIS 62
5.4 MACROECONOMIC INDICATORS 62
TABLE 6 GDP GROWTH PROJECTION WORLDWIDE 62
TABLE 7 GLOBAL AUTOMOBILE PRODUCTION (UNITS), BY COUNTRY 64
TABLE 8 GLOBAL HEALTH SPENDING (USD PER CAPITA), BY COUNTRY, 2018-2020 65
FIGURE 20 SHARE OF GLOBAL MILITARY EXPENDITURE OF 15 COUNTRIES WITH THE HIGHEST SPENDING IN 2020 66
5.5 VALUE CHAIN ANALYSIS 67
FIGURE 21 VALUE CHAIN ANALYSIS OF SHAPE MEMORY ALLOYS MARKET 67
5.5.1 DISRUPTION DUE TO COVID-19 68
5.6 REGULATORY LANDSCAPE 68
5.7 ECOSYSTEM MARKET MAP 69
5.8 YC, YCC SHIFT 70
FIGURE 22 YCC SHIFT: YOUR CLIENTS’ CLIENTS’ SHIFT IN IMPERATIVES & OUTCOMES IN BIOMEDICAL AND AEROSPACE INDUSTRY TRENDS WILL BRING IN CHANGE IN FUTURE REVENUE MIX!! 70
5.8.1 YC SHIFT 70
5.8.2 YCC SHIFT 70
5.9 AVERAGE PRICE ANALYSIS 71
FIGURE 23 WEIGHTED AVERAGE PRICING ANALYSIS (USD/KG) OF SHAPE MEMORY ALLOYS, BY REGION, 2020 71
5.10 SCENARIO ANALYSIS OF SHAPE MEMORY ALLOYS MARKET 72
FIGURE 24 SHAPE MEMORY ALLOYS MARKET, IN TERMS OF VALUE, BY SCENARIO ANALYSIS, 2019–2026 (USD MILLION) 72
5.11 TECHNOLOGY ANALYSIS 73
5.11.1 SHAPE MEMORY ALLOY PRODUCTION PROCESS 73
5.11.1.1 Vacuum arc melting 73
5.11.1.2 Vacuum Induction Melting (VIM) 73
5.11.2 TYPE OF SHAPE MEMORY EFFECT 73
5.11.2.1 One-way memory effect 73
5.11.2.2 Two-way memory effect 73
5.12 COVID-19 IMPACT 74
5.12.1 COVID-19 ECONOMIC ASSESSMENT 74
5.12.2 MAJOR ECONOMIC EFFECT OF COVID-19 74
5.12.3 EFFECTS ON GDP OF COUNTRIES 75
FIGURE 25 PRE & POST-COVID ANALYSIS OF SHAPE MEMORY ALLOY DEMAND 76
5.13 CASE STUDY 76
5.13.1 SHAPE MEMORY ALLOYS IN SPACE APPLICATIONS 76
5.13.2 SHAPE MEMORY ALLOYS IN MEDICAL DEVICE APPLICATIONS 77
5.14 PATENT ANALYSIS 77
5.14.1 INTRODUCTION 77
5.14.2 METHODOLOGY 77
5.14.3 DOCUMENT TYPE 77
FIGURE 26 NUMBER OF PATENTS IN THE LAST 10 YEARS 78
5.14.4 PUBLICATION TRENDS - LAST 10 YEARS 78
FIGURE 27 NUMBER OF PATENTS PUBLISHED YEAR-WISE 78
5.14.5 INSIGHTS 78
5.14.6 JURISDICTION ANALYSIS 79
FIGURE 28 PATENT ANALYSIS, BY TOP JURISDICTIONS 79
5.14.7 TOP COMPANIES/APPLICANTS 80
FIGURE 29 TOP 10 COMPANIES/APPLICANTS WITH THE HIGHEST NUMBER OF PATENTS 80
TABLE 9 LIST OF PATENTS BY THE BOEING COMPANY 80
TABLE 10 LIST OF PATENTS BY CAMBRIDGE MECHATRONICS LTD 81
TABLE 11 LIST OF PATENTS BY GM GLOBAL TECH OPERATIONS INC. 82
TABLE 12 LIST OF PATENTS BY GENERAL ELECTRIC COMPANY 82
TABLE 13 TOP 10 PATENT OWNERS (US) IN LAST 10 Y EARS 83
6 SHAPE MEMORY ALLOYS MARKET, BY TYPE 84
6.1 INTRODUCTION 85
FIGURE 30 NITINOL TO BE THE LARGEST TYPE OF SHAPE MEMORY ALLOYS 85
TABLE 14 SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION) 85
TABLE 15 SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION) 85
6.2 NITINOL(NITI) 86
6.2.1 DEMAND IS HIGH DUE TO ITS SUPER ELASTIC PROPERTY 86
TABLE 16 NITINOL (NITI) SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 86
TABLE 17 NITINOL (NITI) SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 87
6.3 COPPER BASED 87
6.3.1 BEING A COST-EFFECTIVE ALTERNATIVE TO NITINOL SMAS, COPPER-BASED SMAS ARE GAINING TRACTION ACROSS SEVERAL INDUSTRIES 87
TABLE 18 COPPER-BASED SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 87
TABLE 19 COPPER-BASED SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 88
6.4 IRON-MANGANESE-SILICON (FE-MN-SI) 88
6.4.1 FE-MN-SI ALLOYS ARE EXPECTED TO REGISTER STEADY GROWTH THROUGHOUT THE FORECAST PERIOD 88
TABLE 20 IRON-MANGANESE-SILICON SHAPE MEMORY ALLOYS MARKET SIZE,
BY REGION, 2016–2020 (USD MILLION) 88
TABLE 21 IRON-MANGANESE-SILICON SHAPE MEMORY ALLOYS MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 89
6.5 OTHERS 89
TABLE 22 OTHER SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 89
TABLE 23 OTHER SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 89
7 SHAPE MEMORY ALLOYS MARKET, BY END-USE INDUSTRY 90
7.1 INTRODUCTION 91
TABLE 24 APPLICATIONS OF SHAPE MEMORY ALLOYS IN END-USE INDUSTRIES 91
FIGURE 31 BIOMEDICAL TO BE THE LARGEST END-USE INDUSTRY SEGMENT OF THE MARKET 92
TABLE 25 SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY,
2016–2020 (USD MILLION) 92
TABLE 26 SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY,
2021–2026 (USD MILLION) 92
7.2 BIOMEDICAL 93
7.2.1 GROWING ADOPTION OF SMA-BASED SURGICAL IMPLANTS ACROSS THE GLOBE TO SUPPORT MARKET GROWTH 93
TABLE 27 BIOMEDICAL: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 93
TABLE 28 BIOMEDICAL: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 94
7.3 AEROSPACE & DEFENSE 94
7.3.1 RECOVERY OF AEROSPACE INDUSTRY FROM THE REPERCUSSIONS OF COVID-19 TO BOOST THE MARKET 94
TABLE 29 COVID-19 IMPACT ON PASSENGER NUMBER AND PASSENGER REVENUE 95
7.3.1.1 Reduced global demand for Maintenance, Repair, and Overhaul (MRO) due to COVID-19 95
TABLE 30 AEROSPACE & DEFENSE: SHAPE MEMORY ALLOYS MARKET SIZE,
BY REGION, 2016–2020 (USD MILLION) 96
TABLE 31 AEROSPACE & DEFENSE: SHAPE MEMORY ALLOYS MARKET SIZE,
BY REGION, 2021–2026 (USD MILLION) 96
7.4 AUTOMOTIVE 96
7.4.1 INCREASING AUTOMOBILE PRODUCTION AND USAGE OF SMAS IN PARTS/COMPONENT MANUFACTURING TO LEAD TO MARKET GROWTH 96
FIGURE 32 PASSENGER CAR MARKET TREND INDEX (2019=100) 97
TABLE 32 VEHICLE PRODUCTION DATA, BY COUNTRY, 2019–2020 97
TABLE 33 AUTOMOTIVE: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 98
TABLE 34 AUTOMOTIVE: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 98
7.5 CONSUMER ELECTRONICS & HOME APPLIANCES 99
7.5.1 HEALTHY GROWTH OF CONSUMER ELECTRONICS AND INCREASING PER-CAPITA SPENDING ACROSS THE GLOBE TO SUPPORT MARKET GROWTH 99
TABLE 35 CONSUMER ELECTRONICS & HOME APPLIANCES: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION, 2016–2020 (USD MILLION) 99
TABLE 36 CONSUMER ELECTRONICS & HOME APPLIANCES: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION, 2021–2026 (USD MILLION) 100
7.6 OTHERS 100
TABLE 37 OTHERS: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 100
TABLE 38 OTHERS: SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 100
8 GLOBAL SHAPE MEMORY ALLOYS MARKET, BY REGION 101
8.1 INTRODUCTION 102
FIGURE 33 REGIONAL SNAPSHOT: RAPIDLY GROWING MARKETS ARE EMERGING AS NEW HOTSPOTS 102
TABLE 39 SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2016–2020 (USD MILLION) 102
TABLE 40 SHAPE MEMORY ALLOYS MARKET SIZE, BY REGION,
2021–2026 (USD MILLION) 103
8.2 NORTH AMERICA 103
FIGURE 34 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SNAPSHOT 104
TABLE 41 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION) 104
TABLE 42 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION) 105
TABLE 43 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 105
TABLE 44 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 105
TABLE 45 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 105
TABLE 46 NORTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 106
8.2.1 US 106
8.2.1.1 Growing investment in biomedical and aerospace & defense industries to support market growth 106
FIGURE 35 TOP A&D PRODUCT EXPORT DESTINATION, 2019 107
FIGURE 36 US: PASSENGER CAR PRODUCTION, 2015-2020 107
TABLE 47 US: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 108
TABLE 48 US: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 108
TABLE 49 US: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY,
2016–2020 (USD MILLION) 108
TABLE 50 US: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY,
2021–2026 (USD MILLION) 109
8.2.2 CANADA 109
8.2.2.1 Increasing healthcare expenditure and count of implant surgeries to drive the market 109
TABLE 51 CANADA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 110
TABLE 52 CANADA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 110
TABLE 53 CANADA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 110
TABLE 54 CANADA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 111
8.2.3 MEXICO 111
8.2.3.1 Increasing investment in the automotive industry to drive the market 111
FIGURE 37 MEXICO: PASSENGER CAR PRODUCTION, 2017-2020 112
TABLE 55 MEXICO: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 112
TABLE 56 MEXICO: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 112
TABLE 57 MEXICO: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 113
TABLE 58 MEXICO: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 113
8.3 EUROPE 113
TABLE 59 EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY,
2016–2020 (USD MILLION) 114
TABLE 60 EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY,
2021–2026 (USD MILLION) 114
TABLE 61 EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 114
TABLE 62 EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 115
TABLE 63 EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 115
TABLE 64 EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 115
8.3.1 GERMANY 116
8.3.1.1 Increasing healthcare spending and R&D research in the country to propel the market 116
FIGURE 38 GERMANY: AUTOMOBILE PRODUCTION AND EXPORT, 2018-2021 117
TABLE 65 GERMANY: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 117
TABLE 66 GERMANY: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 117
TABLE 67 GERMANY: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 118
TABLE 68 GERMANY: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 118
8.3.2 FRANCE 118
8.3.2.1 The government initiatives to promote the automotive industry to drive the market 118
FIGURE 39 FRANCE: AUTOMOBILE PRODUCTION, 2017-2020 119
TABLE 69 FRANCE: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 119
TABLE 70 FRANCE: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 119
TABLE 71 FRANCE: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 120
TABLE 72 FRANCE: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 120
8.3.3 UK 120
8.3.3.1 Expected recovery of the manufacturing sector from the repercussion of COVID-19 to drive the market 120
FIGURE 40 UK: TOTAL AUTOMOBILE PRODUCTION, 2017-2020 121
TABLE 73 UK: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 121
TABLE 74 UK: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 121
TABLE 75 UK: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY,
2016–2020 (USD MILLION) 122
TABLE 76 UK: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY,
2021–2026 (USD MILLION) 122
8.3.4 ITALY 122
8.3.4.1 Government initiative to promote automotive and aerospace industries in the country to boost the demand 122
FIGURE 41 ITALY: AUTOMOBILE PRODUCTION, 2017-2020 123
TABLE 77 ITALY: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 123
TABLE 78 ITALY: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 123
TABLE 79 ITALY: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 124
TABLE 80 ITALY: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 124
8.3.5 SPAIN 124
8.3.5.1 Significant recovery of the economy and the automotive industry to drive the market 124
FIGURE 42 SPAIN: TOTAL AUTOMOBILE PRODUCTION, 2017-2020 125
TABLE 81 SPAIN: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 125
TABLE 82 SPAIN: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 125
TABLE 83 SPAIN: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 126
TABLE 84 SPAIN: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 126
8.3.6 REST OF EUROPE 126
TABLE 85 REST OF EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 126
TABLE 86 REST OF EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 127
TABLE 87 REST OF EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 127
TABLE 88 REST OF EUROPE: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 127
8.4 APAC 128
FIGURE 43 APAC: SHAPE MEMORY ALLOYS MARKET SNAPSHOT 128
TABLE 89 APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY,
2016–2020 (USD MILLION) 129
TABLE 90 APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY,
2021–2026 (USD MILLION) 129
TABLE 91 APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 129
TABLE 92 APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 130
TABLE 93 APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 130
TABLE 94 APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 130
8.4.1 CHINA 131
8.4.1.1 Double-digit growth of medical & healthcare industry in the country to provide an impetus for market growth 131
FIGURE 44 CHINA: PASSENGER CAR PRODUCTION, 2017-2020 132
TABLE 95 CHINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 132
TABLE 96 CHINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 132
TABLE 97 CHINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 133
TABLE 98 CHINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 133
8.4.2 INDIA 133
8.4.2.1 Healthy growth of medical & healthcare industry and increasing FDI investment in the country will boost the market in the upcoming years 133
FIGURE 45 INDIA: PASSENGER CAR PRODUCTION, 2017-2020 135
FIGURE 46 CURRENT HEALTH EXPENDITURE PER CAPITA (CURRENT USD), 2016 - 2019 135
TABLE 99 INDIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 135
TABLE 100 INDIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 136
TABLE 101 INDIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 136
TABLE 102 INDIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 136
8.4.3 JAPAN 137
8.4.3.1 Aging population, coupled with a significant production capacity of biomedical implants, to drive the market 137
FIGURE 47 JAPAN: AUTOMOBILE PRODUCTION, 2017-2020 137
TABLE 103 JAPAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 138
TABLE 104 JAPAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 138
TABLE 105 JAPAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 138
TABLE 106 JAPAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 139
8.4.4 SOUTH KOREA 139
8.4.4.1 Increasing automobile manufacturing to push demand for SMAs during the forecast period 139
TABLE 107 SOUTH KOREA: STATUS OF COMPANIES IN THE AVIATION INDUSTRY, BY AREA 140
TABLE 108 SOUTH KOREA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 140
TABLE 109 SOUTH KOREA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 140
TABLE 110 SOUTH KOREA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 141
TABLE 111 SOUTH KOREA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 141
8.4.5 TAIWAN 141
8.4.5.1 Development in consumer electronics and home appliances to drive the market 141
TABLE 112 TAIWAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 142
TABLE 113 TAIWAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 142
TABLE 114 TAIWAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 142
TABLE 115 TAIWAN: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 143
8.4.6 REST OF APAC 143
TABLE 116 REST OF APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 144
TABLE 117 REST OF APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 144
TABLE 118 REST OF APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 144
TABLE 119 REST OF APAC: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 145
8.5 SOUTH AMERICA 145
TABLE 120 SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY, 2016–2020 (USD MILLION) 145
TABLE 121 SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION) 145
TABLE 122 SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 146
TABLE 123 SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 146
TABLE 124 SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 146
TABLE 125 SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 147
8.5.1 BRAZIL 147
8.5.1.1 The government’s initiative to support the automotive industry will drive the SMAs demand 147
FIGURE 48 BRAZIL: TOTAL VEHICLE PRODUCTION, 2017-2020 148
TABLE 126 BRAZIL: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 148
TABLE 127 BRAZIL: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 148
TABLE 128 BRAZIL: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 149
TABLE 129 BRAZIL: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 149
8.5.2 ARGENTINA 149
8.5.2.1 Increasing passenger car sales to boost the market 149
TABLE 130 ARGENTINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 150
TABLE 131 ARGENTINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 150
TABLE 132 ARGENTINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 150
TABLE 133 ARGENTINA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 151
8.5.3 REST OF SOUTH AMERICA 151
TABLE 134 REST OF SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION) 151
TABLE 135 REST OF SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION) 152
TABLE 136 REST OF SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 152
TABLE 137 REST OF SOUTH AMERICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 152
8.6 MIDDLE EAST & AFRICA 153
TABLE 138 MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE,
BY COUNTRY, 2016–2020 (USD MILLION) 153
TABLE 139 MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE,
BY COUNTRY, 2021–2026 (USD MILLION) 153
TABLE 140 MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE, 2016–2020 (USD MILLION) 153
TABLE 141 MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION) 154
TABLE 142 MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 154
TABLE 143 MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 154
8.6.1 SAUDI ARABIA 155
8.6.1.1 Vision 2030 and other government plans to boost the automotive industry 155
FIGURE 49 SAUDI ARABIA: BUDGET EXPENDITURE, BY SECTOR, 2020 155
TABLE 144 SAUDI ARABIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 156
TABLE 145 SAUDI ARABIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 156
TABLE 146 SAUDI ARABIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 156
TABLE 147 SAUDI ARABIA: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 157
8.6.2 ISRAEL 157
8.6.2.1 Increasing healthcare spending to drive the shape memory alloys market 157
TABLE 148 ISRAEL: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2016–2020 (USD MILLION) 157
TABLE 149 ISRAEL: SHAPE MEMORY ALLOYS MARKET SIZE, BY TYPE,
2021–2026 (USD MILLION) 158
TABLE 150 ISRAEL: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 158
TABLE 151 ISRAEL: SHAPE MEMORY ALLOYS MARKET SIZE, BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 158
8.6.3 REST OF MIDDLE EAST & AFRICA 159
TABLE 152 REST OF MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE,
BY TYPE, 2016–2020 (USD MILLION) 159
TABLE 153 REST OF MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE,
BY TYPE, 2021–2026 (USD MILLION) 159
TABLE 154 REST OF MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE,
BY END-USE INDUSTRY, 2016–2020 (USD MILLION) 160
TABLE 155 REST OF MIDDLE EAST & AFRICA: SHAPE MEMORY ALLOYS MARKET SIZE,
BY END-USE INDUSTRY, 2021–2026 (USD MILLION) 160
9 COMPETITIVE LANDSCAPE 161
9.1 KEY PLAYER STRATEGIES/ RIGHT TO WIN 161
FIGURE 50 ACQUISITION IS THE KEY STRATEGY ADOPTED BY PLAYERS
BETWEEN 2018 AND 2021 162
9.2 MARKET SHARE ANALYSIS 163
FIGURE 51 MARKET SHARE OF KEY PLAYERS, 2020 163
9.3 COMPANY EVALUATION QUADRANT 163
9.3.1 STAR 163
9.3.2 PERVASIVE 163
9.3.3 EMERGING LEADER 164
9.3.4 PARTICIPANT 164
FIGURE 52 SHAPE MEMORY ALLOYS MARKET: COMPANY EVALUATION MATRIX, 2020 164
9.3.4.1 Company Product Footprint 165
FIGURE 53 COMPANY FOOTPRINT BY END-USE INDUSTRY 165
9.4 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX 165
9.4.1 DYNAMIC COMPANIES 165
9.4.2 STARTING BLOCKS 165
FIGURE 54 START-UPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2020 166
9.5 RANKING ANALYSIS OF KEY MARKET PLAYERS, 2020 167
FIGURE 55 RANKING ANALYSIS OF TOP FIVE PLAYERS IN SHAPE MEMORY ALLOYS MARKET, 2020 167
9.6 COMPETITIVE SCENARIO AND TRENDS 168
9.6.1 SHAPE MEMORY ALLOYS MARKET: DEALS, 2018-2021 168
10 COMPANY PROFILES 170
10.1 KEY PLAYERS 170
(Business Overview, Product/ Solution/ Service Offered, Recent Developments, Winning Imperatives, MNM View, Key strengths/ Right to win, Strategic choices made, and Weaknesses and competitive threats)*
10.1.1 ATI SPECIALTY ALLOYS & COMPONENTS 170
TABLE 156 ATI SPECIALTY ALLOYS & COMPONENTS: BUSINESS OVERVIEW 170
FIGURE 56 ATI SPECIALTY ALLOYS & COMPONENTS: COMPANY SNAPSHOT 171
TABLE 157 ATI SPECIALTY ALLOYS & COMPONENTS: PRODUCT/ SOLUTION/ SERVICE OFFERINGS 171
TABLE 158 ATI SPECIALTY ALLOYS & COMPONENTS: DEALS 172
FIGURE 57 ATI SPECIALTY ALLOYS & COMPONENTS CAPABILITY IN SHAPE MEMORY ALLOYS MARKET 173
10.1.2 SAES GETT