The latest research report titled ‘Shape Memory Alloys Market Size By Product (NiTi, Copper based, Others), By End-user (Biomedical, Aerospace & Defense, Automotive, Household Appliances, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, South Korea, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC, Israel), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with MarketStudyReport, opines that the shape memory alloys market is expected to exceed USD 20 billion valuation by 2025.

Expanding global biomedical sector, and increasing product demand in the aerospace and automobile sectors are propelling shape memory alloys market growth.

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/2057032/   

However, highly volatile raw material prices may impede the growth trajectory of the market in the upcoming years.

Based on product type, nitinol (NiTi) sub-segment of the shape memory alloys market is expected to amass strong returns during the analysis timeframe, as nitinol is used extensively across various applications due to its practicability, mechanical advantages, stability, and thermal tenacity.

Speaking of end user scope, shape memory alloys industry share from automotive segment is likely to account for 15% during the analysis timeframe, as the product is utilized in automobile sector to mobilize the flow of air in the engine and lower the aerodynamic force in the vehicle.

Meanwhile, the biomedical sector is likely to gain momentum during the study period, creditable to the utilization of shape memory alloy in a wide range of products including dental implants, catheters and stents among others.

From a regional standpoint, North America is the largest contributor to the overall industry revenue, since the region houses some of the major shape memory alloy manufacturers as well as certain small-scale enterprises. In addition, the prevalence of advanced biomedical and automotive industries plays a crucial role in the augmentation of the market in the region.

Meanwhile, Asia Pacific market is expected to showcase a year over year growth rate of 14% through 2025, due to expanding automotive industry in economies such as Japan, South Korea, and India. Also, China is a leading automotive producer, which along with rising disposable income, inexpensive labor, suitable government initiatives, and growing investments are positively swaying the industry dynamics.

The competitive terrain of global shape memory alloys marketplace is defined by key players such as Euroflex GmbH, Ultimate Niti Technologies Inc., PMD Metal Works Co. Ltd., DYNALLOY Inc., Sea Bird Metal Material Co. Ltd., Xian Saite Metal Materials Development Co. Ltd., Nippon Seisen Co. Ltd., Fort Wayne Metals Research Products Corporation, Furukawa Electric Co. Ltd., Nippon Steel Corporation, Johnson Matthey, SAES Getters S.p.A., and Allegheny Technologies Inc.