zwmet - shape memory alloy industry status analysis: the demand for biomedical industry is large

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ZWMET-shape memory alloy industry status analysis:

author: ZWMET [ 2019-02-25 21:41:08 ]

ZWMET - shape memory alloy industry status analysis: the demand for biomedical industry is large

Shape memory alloys (SMA) are materials composed of two or more metal elements that have a shape memory effect (SME) by thermoelasticity and martensitic transformation and their inversion. The 2018 Global and China Shape Memory Alloy Industry In-Depth Research Report by the New World Industry Research Specialist shows that the global shape memory alloy market has a market size of US$10.62 billion in 2017 and is expected to reach US$18.97 billion by 2022. The annual growth rate is 12.3%. The growth of the shape memory alloy (SMA) market can be attributed to increased demand for shapes and alloys in the biomedical, aerospace, defense, and consumer electronics and home appliance industries worldwide. Shape memory alloys have features such as pseudo-elasticity, shape memory effect and high damping properties, and the demand for medical implants and electronic applications in subdivided products is increasing.

Divided by the type of alloy, the market share of nickel-titanium alloy in 2018-2022 is growing faster.

Divided into alloy types, the shape memory alloy market is divided into nickel-titanium alloy, copper-based alloy, iron-manganese-silicon alloy and the like. Nitinol accounts for a share of the shape memory alloy market in 2017 and will continue to maintain high growth rates between 2018 and 2022. Nitinol is mainly used in the manufacture of implantable medical devices, surgical instruments and automotive actuators. Therefore, the growth in demand for nickel-titanium alloys in the biomedical, automotive and consumer electronics and home appliance industries is expected to drive the shape memory alloy market.

According to the following travel demand division, the demand for biomedical industry grows rapidly between 2018-2022

In 2017, the demand for shape memory alloys in the biomedical industry accounted for a market share. Shape memory alloys are widely used in medical implants such as cardiovascular and endoscopic stents, orthopedic screws and wires, dental archwires, and in the manufacture of automotive actuators, aircraft and electronic components. Biomedical and consumer electronics and home appliances are fast-growing end-use industries for the shape memory alloy market. An aging population, poor eating habits and lifestyles, and an increase in chronic diseases are major factors driving the demand for SMA in the biomedical industry.

The main players in the global shape memory alloy market are: ATI Specialty Alloys and Components (USA), SAES (Italy), Johnson Matthey (UK), Nippon Steel & Sumitomo Metals (Japan), Furukawa Electric Company (Japan), Fort Wayne Metals (USA), Japan Seisen (Japan), etc.

ATI Specialty Alloys and Components (USA) is one of the manufacturers of shape memory alloys. In July 2017, ATI established a joint venture with GE Aviation (USA) to establish a pilot R&D plant in Pennsylvania to develop non-melt titanium alloy powder manufacturing technology. The company also signed a long-term purchase agreement with Pratt & Whitney (USA) to provide Pratt and Whitney with isothermal forging and nickel-based powder alloys for next-generation jet engines.