India Shape Memory Alloys Market Size & Outlook, 2023-2030
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India shape memory alloys market highlights
- The India shape memory alloys market generated a revenue of USD 475.9 million in 2023 and is expected to reach USD 1,029.2 million by 2030.
- The India market is expected to grow at a CAGR of 11.7% from 2024 to 2030.
- In terms of segment, nickel-titanium (nitinol) was the largest revenue generating type in 2023.
- Nickel-Titanium (Nitinol) is the most lucrative type segment registering the fastest growth during the forecast period.
Shape memory alloys market data book summary
| Market revenue in 2023 | USD 475.9 million |
| Market revenue in 2030 | USD 1,029.2 million |
| Growth rate | 11.7% (CAGR from 2023 to 2030) |
| Largest segment | Nickel-titanium (nitinol) |
| Fastest growing segment | Nickel-Titanium (Nitinol) |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Nickel-Titanium (Nitinol), Copper-based Alloys |
Other key industry trends
- In terms of revenue, India accounted for 3.4% of the global shape memory alloys market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China shape memory alloys market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,203.9 million by 2030.
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Shape memory alloys market Scope
Shape memory alloys market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Dynalloy | View profile | 101-250 | Irvine, California, United States, North America | https://www.dynalloy.com |
| Mishra Dhatu Nigam Limited | View profile | 501-1000 | Hyderabad, Andhra Pradesh, India, Asia | https://midhani-india.in/ |
| Nippon Seisen | View profile | 501-1000 | Kadoma, Osaka, Japan, Asia | http://www.n-seisen.co.jp/ |
| SAES Getters | View profile | 1001-5000 | Milan, Lombardia, Italy, Europe | https://www.saesgetters.com |
| Fort Wayne Metals | View profile | 1001-5000 | Fort Wayne, Indiana, United States, North America | http://fwmetals.com |
| Johnson Matthey PLC | View profile | 12638 | 25 Farringdon Street, 5th Floor, London, United Kingdom, EC4A 4AB | https://www.matthey.com |
| ATI Inc | View profile | 7300 | 2021 McKinney Avenue, Dallas, TX, United States, 75201 | https://www.atimaterials.com |
| Nippon Steel Corp | View profile | 121990 | 6-1, Marunouchi 2-chome, Chiyoda-ku, Tokyo, Japan, 100-8071 | https://www.nipponsteel.com |
| Furukawa Electric Co Ltd | View profile | 51314 | Marunouchi Nakadori Building, 2-3, Marunouchi 2-chome, Chiyodaku, Tokyo, Japan, 100-8322 | http://www.furukawa.co.jp |
India shape memory alloys market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to shape memory alloys market will help companies and investors design strategic landscapes.
Nickel-titanium (nitinol) was the largest segment with a revenue share of 90.33% in 2023. Horizon Databook has segmented the India shape memory alloys market based on nickel-titanium (nitinol), copper-based alloys covering the revenue growth of each sub-segment from 2018 to 2030.
The SMA market in India is expected to witness robust growth through the forecast period. This can be attributed to the growing aerospace & defense, automotive, and consumer electronics sectors.
Companies are increasingly setting up their factories in the country, owing to governmental initiatives such as Make in India, which attract investments in the country. T
he SMA market in India is expected to witness significant growth over the forecast period. The country is increasingly adopting electric vehicles (EVs), owing to favorable government policies and initiatives such as Faster Adoption.
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Horizon Databook provides a detailed overview of country-level data and insights on the India shape memory alloys market , including forecasts for subscribers. This country databook contains high-level insights into India shape memory alloys market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India shape memory alloys market size, by type, 2018-2030 (US$M)
India Shape memory alloys market Outlook Share, 2023 & 2030 (US$M)
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