U.S. Shape Memory Alloys Market Size & Outlook, 2023-2030
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U.S. shape memory alloys market highlights
- The U.S. shape memory alloys market generated a revenue of USD 3,494.8 million in 2023 and is expected to reach USD 7,461.6 million by 2030.
- The U.S. 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.
Shape memory alloys market data book summary
| Market revenue in 2023 | USD 3,494.8 million |
| Market revenue in 2030 | USD 7,461.6 million |
| Growth rate | 11.4% (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, U.S. accounted for 25.1% 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 North America, U.S. shape memory alloys market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 7,461.6 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 |
U.S. 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 89.95% in 2023. Horizon Databook has segmented the U.S. 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 increasing healthcare expenditure in the country coupled with the growing obesity among the population is driving the SMA market. According to the latest study by the Centers for Disease Control and Prevention (CDC), 4 out of every 10 American are obese as of 2024.
Obesity increases the risk of heart attacks and other cardiovascular diseases (CVDs). SMAs are used extensively in stents to support weakened or narrowed blood vessels. The country is also one of the largest markets for automobiles.
General Motors, Ford Motor Company, and Stellantis NV. According to the International Organization of Motor Vehicle Manufacturers, The demand for vehicles is expected to surge over the forecast period, which is expected to drive the demand.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. shape memory alloys market , including forecasts for subscribers. This country databook contains high-level insights into U.S. shape memory alloys market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. shape memory alloys market size, by type, 2018-2030 (US$M)
U.S. Shape memory alloys market Outlook Share, 2023 & 2030 (US$M)
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