Shape Memory Alloys Market CAGR to be at 11% from 2025 to 2029 | $23.65 Billion Industry Revenue by 2029

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The Business Research Company's Shape Memory Alloys Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, August 19, 2025 /EINPresswire.com/ -- What Is The Projected Market Size & Growth Rate Of The Shape Memory Alloys Market?
In recent times, there has been remarkable growth in the market size of shape memory alloys. The market, which was worth $14.18 billion in 2024 is projected to increase to $15.6 billion in 2025, representing a compound annual growth rate (CAGR) of 10.0%. Several factors contributed to this surge during the historic period, including the aerospace industry's use of the alloys in items such as valves and actuators. Additionally, they are increasingly used in the medical field for less invasive surgical procedures, the automotive industry's adoption for smart materials and parts, the rising demand in the consumer electronics sector specifically for shape memory alloy actuators, and in the biomedical field.

Anticipations are high for a swift expansion in the shape memory alloys market within the next few years. The market size is projected to ascend to $23.66 billion by 2029, registering a compound annual growth rate (CAGR) of 11.0%. The envisaged growth during this period is linked to the expansion of the smart materials sector, escalation in the energy sector, increased application in structural engineering, augmented demand in the defense and security sector, and a rising focus on sustainability. The predicted trends for this period encompass progress in biomedical engineering, creation of unique industrial applications in automation and robotics, downsizing of shape memory alloy parts for handheld devices, incorporation of shape memory alloys into wearable technology for superior functionality, and research and development efforts aimed at exploring new shape memory alloy compositions for enhanced properties.

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What Is The Crucial Factor Driving The Global Shape Memory Alloys Market?
The constant expansion of the aerospace and defense sector is a substantial factor propelling the growth of the shape memory alloys market. This industry engages in designing, manufacturing, and creating cutting-edge space systems, aircraft, and defense solutions. Shape memory alloys, thanks to their sufficient strength and elastic modulus, are suitable for system components, structures, and system complexity, leading to lightweight and highly dependable solutions. These alloys contribute to reducing drag during the flight and enhancing overall performance, directly benefiting passengers. The increasing demand for advanced infrastructure drives the growth of the aerospace and defense sector, thus stimulating the use of shape memory alloys. For example, according to India Brand Equity Foundation, this sector is predicted to hit the $70 billion mark by 2030, driven by the need for advanced infrastructure. Consequently, the increasing growth of the aerospace and defense industry will foster the expansion of the shape memory alloys market.

Who Are The Emerging Players In The Shape Memory Alloys Market?
Major players in the Shape Memory Alloys include:
• SAES Getters SpA
• Nippon Steel Corp.
• Fort Wayne Metals Research Products Corp.
• Xi'an Saite Metal Materials Development Co. Ltd.
• Dynalloy Inc.
• Allegheny Technologies Incorporated
• Johnson Matthey Plc
• Furukawa Electric Co. Ltd.
• Baoji Seabird Metal Materials Co. Ltd.
• Metalwerks Inc.

What Are The Key Trends Shaping The Shape Memory Alloys Industry?
The shape memory alloys market is significantly influenced by strategic alliances and cooperative efforts, which are fast becoming popular trends. Main market participants are opting for partnerships and collaborations to enhance their product suite and introduce revolutionary technology. For example, in December 2022, Boeing, a manufacturing firm from the United States, joined forces with the U.S. government organization, NASA. Their main goal of this partnership is to advance and examine technology of shape memory alloys for vortex generators, with an endeavor to improve aerodynamic efficacy and fuel consumption in aircraft.

What Segments Are Covered In The Shape Memory Alloys Market Report?
The shape memory alloys market covered in this report is segmented –

1) By Product Type: Sheets, Wires, Tubes, Rods, Springs
2) By Material: Nickel-Titanium, Copper-Based, Iron-based, Silver-Based, Gold-Based, Cobalt-Based
3) By End-Use Industry: Biomedical, Aerospace And Defense, Automotive, Consumer Electronics, Home Appliances

Subsegments:
1) By Sheets: Thin Sheets, Thick Sheets
2) By Wires: Standard Wires, Specialty Wires
3) By Tubes: Straight Tubes, Coiled Tubes
4) By Rods: Solid Rods, Hollow Rods
5) By Springs: Compression Springs, Tension Springs, Torque Springs

View the full shape memory alloys market report:
https://www.thebusinessresearchcompany.com/report/shape-memory-alloys-global-market-report

Which Region Is Projected To Hold The Largest Market Share In The Global Shape Memory Alloys Market?
In 2024, North America led in the market for shape memory alloys and Asia-Pacific is projected to experience the quickest growth in the forthcoming forecast period. The market report on shape memory alloys encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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