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The global shape memory alloy market size was US$ 15.9 billion in 2021. The global shape memory alloy market is forecast to grow to US$ 57.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022 to 2030.

Shape Memory Alloy Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Quadintel, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider  Shape Memory Alloy Market , and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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Shape memory alloys are widely recognized for their properties of transforming back to their original shape when deformed. Moreover, these lightweight alloys are available in different varieties, such as nickel-titanium or nitinol alloy, copper-magnesium alloys, iron-manganese-silicon alloys, and copper-aluminium-nickel alloys, etc.

The vital applications of shape memory alloy in the aerospace sector will drive the growth of the market. Further, the benefits of these alloys, such as high mechanical strength, lightweight, fatigue resistance, etc., will also propel the market forward.

Moreover, the rising focus of the aerospace industry on multifunctionality and reliability will also offer several growth opportunities for the shape memory alloy market.

Medical applications of shape memory alloy will accelerate the growth of the market. Shape memory alloy is forecast to witness a substantial boom in terms of revenue due to its applications across the dental, orthopedics, neural, and vascular sector. Further, rising healthcare expenditure will also contribute to the growth of the market.

The global shape memory alloy market witnessed a sharp decline due to the COVID-19 outbreak. Due to the pandemic, industrial activities stopped for a significant period, which hampered the demand for shape memory alloy. Further, dental surgeries and other treatments were put on halt due to the high risk of virus spread, which ultimately impeded the demand for shape memory alloy. Moreover, import-export restrictions created delays in R&D activities. As a result of all these factors, the market for shape memory alloy witnessed a sharp decline.

North America is forecast to dominate the shape memory alloy market due to high healthcare expenditure and rising investments in the medical device sector. Further, growing vehicle and aircraft production in the region will offer lucrative growth opportunities for the shape memory alloy throughout the forecast period.

The Asia-Pacific shape memory alloy will also record substantial growth due to the availability of labor at a cheap cost and favorable government policies. Further, the rising demand for shape memory alloy from various end-use industries, including automotive, biomedical, aerospace and defense, electronics, and home appliances, will drive the market forward.

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Competitors in the Market Nippon Seisen Co. Ltd. Advanced Technology & Materials Co. Ltd. ATI Dynalloy Inc. Fort Wayne Metals Furukawa Co. Ltd. Grinm Advanced Materials Co. Ltd. Johnson Matthey Inc. Lumenous Peiertech Nippon Steel & Sumitomo Metal Corp. Saes Getters Group Other Prominent Players

Market Segmentation The global shape memory alloy market segmentation focuses on Type, End-Use Industry, and Region.

By Type Nitinol Alloys Copper-based Alloys Iron-Manganese-Silicon Alloys Others

By End-use Industry Biomedical Aerospace & Defense Automotive Consumer Electronics & Home Appliances Others

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By Region ? North America o The U.S. o Canada o Mexico ? Europe ? Western Europe o The UK o Germany o France o Italy o Spain o Rest of Western Europe ? Eastern Europe o Poland o Russia o Rest of Eastern Europe ? Asia Pacific o China o India o Japan o Australia & New Zealand o ASEAN o Rest of Asia Pacific ? Middle East & Africa (MEA) o UAE o Saudi Arabia o South Africa o Rest of MEA ? South America o Brazil o Argentina o Rest of South America

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Key Questions Answered in the Market Report

• How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies? • What is the outlook for the impact market during the forecast period 2021-2030? • What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration? • What is the end user perception toward? • How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021? • What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration? • What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration? • What are the key strategies adopted by companies in the impact market? • What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030? • What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market? • Who are the key end users of pharmaceutical quality? What is their respective share in the impact market? • Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030? • Which are the key players in the impact market?

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