Latin America Shape Memory Alloys Market Size & Outlook
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Latin America shape memory alloys market highlights
- The Latin America shape memory alloys market generated a revenue of USD 789.5 million in 2023.
- The market is expected to grow at a CAGR of 10.4% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 789.5 million |
| Market revenue in 2030 | USD 1,575.6 million |
| Growth rate | 10.4% (CAGR from 2023 to 2030) |
| Largest segment | Nickel-titanium (nitinol) |
| Fastest growing segment | Nickel-Titanium (Nitinol) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Nickel-Titanium (Nitinol), Copper-based Alloys |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.7% of the global shape memory alloys market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,721.7 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 |
Latin America 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 69.39% in 2023. Horizon Databook has segmented the Latin America 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 market in Central & South America is advancing at a promising growth rate, owing to the ongoing development in the electronics and automotive industries. Positive economic trends in the region have significantly increased the purchasing power of customers.
Which has favorably impacted the growth of the regional SMA market. The growing consumer goods, electrical & electronics, industrial, and automotive sectors in the region are expected to contribute to the regional product demand over the next few years.
The growing automotive market in developing countries of the region, such as Brazil and Argentina, is a major factor driving the SMA market. In 2023, Argentina accounted for 610,725 units of commercial vehicles and cars.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America shape memory alloys market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America shape memory alloys market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America shape memory alloys market size, by country, 2018-2030 (US$M)
Latin America Shape memory alloys market Outlook Share, 2023 & 2030 (US$M)
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