North America Shape Memory Alloys Market Size & Outlook
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North America shape memory alloys market highlights
- The North America shape memory alloys market generated a revenue of USD 4,884.5 million in 2023.
- The market is expected to grow at a CAGR of 11.4% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 4,884.5 million |
| Market revenue in 2030 | USD 10,367.7 million |
| Growth rate | 11.4% (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, North America region accounted for 35.1% 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 |
North 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 90.02% in 2023. Horizon Databook has segmented the North 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.
North America has a well-established medical and healthcare industry, resulting in the demand for technologically advanced biomedical equipment. This is one of the factors fueling the growth of Shape Memory Alloys (SMAs) in the region.
Additionally, strict regulations pertaining to the usage of raw materials for various medical tools drives the usage of SMAs, owing to the high biocompatibility offered by them. North America is a prominent region in the aerospace and automotive sectors.
Increasing investments in space exploration missions by organizations such as the National Aeronautics and Space Administration (NASA) and SpaceX are expected to spur the growth of the SMA market.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America shape memory alloys market , including forecasts for subscribers. This continent databook contains high-level insights into North America shape memory alloys market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America shape memory alloys market size, by country, 2018-2030 (US$M)
North America Shape memory alloys market Outlook Share, 2023 & 2030 (US$M)
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