Shape memory alloys are the special alloys that return to their original shape upon heating. Shape memory alloys market have gained much attention in the recent years due to alloys unique characteristics, properties, and application in addressing typical design complexities. Shape Memory Alloy behavior can be broadly segmented as: one way shape memory and two way shape memory. In case of one way shape memory transformation to desired shape occurs only upon heating whereas in two way shape deformation shape is remembered during both cooling and heating.
Certain inherent properties of these alloys make them suitable for use in remote actuation features as well. Predominantly used shape memory alloy is made of Nickel and Titanium known as Nitinol. Other alloys being used at sparing rate for shape memory alloys include silver-cadmium, copper-tin, nickel-aluminum, and others. Shape memory alloys find their wide application in automotive, aerospace, robotics, and biomedical application. Some of the developed products from shape memory alloys include gas flow micro valves, non-explosive release devices, and aerospace latching mechanisms. Other niche applications of shape memory alloy market include endodontics, orthopedic surgery, and telecommunication.
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Global Shape Memory Alloy Market: Drivers & Restraints:
Increasing life expectancy and advancement in surgical procedures will create great opportunityfor shape memory alloy market. Technological advancement and broader availability of alloy is expected to drive the shape memory alloy market.
Global Shape Memory Alloy Market: Segmentation:
On the basis of application, the global shape memory alloy market is segmented as,
- Super Elastic Applications
- Constrained Recovery Application
- Actuator Applications
On the basis of end use sector, the global shape memory alloy market is segmented into:
- Electrical Appliances
- Hot Water Supply
- Construction & Housing
- Automobiles & Trains
- Aerospace Engineering
- Bio- Medical
On the basis of type, the global shape memory alloy market is segmented into:
- Copper – Zinc – Aluminum – Nickel
- Copper – Aluminum – Nickel
- Nickel Titanium
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Global Shape Memory Alloy Market: Key Players:
Major players over the global shape memory alloy market include Memory-Metalle GmbH, TiNi Alloy Co., Ultimate NiTi Technologies Inc., Fort Wayne Metals Inc., Metalwerks PMD Inc. and Endosmart GmbH
Global Shape Memory Alloy Market: Overview:
Advancements in super elastic, actuator and other industrial applications are likely to drive the demand for shape memory alloys. Shape memory alloys are sub set of high performance alloys or advanced materials. Advancements in technologies and widening scope of applications set firm platform for new alloys to exhibit healthy double digit growth in the market.
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