Current Status of Shape Memory Alloy Industry

Shape memory alloy (SMA) is a material that is composed of two or more metal elements and has a shape memory effect through thermoelasticity, martensitic transformation and reversal. According to the "2018 Global and China Shape Memory Alloy Industry Deep Research Report" released by Xinsijie industry research experts, the global shape memory alloy market was worth 10.62 billion U.S. dollars in 2017 and is expected to reach 18.97 billion U.S. dollars by 2022, a compound annual growth rate. The rate was 12.3%. The growth of the shape memory alloy (SMA) market can be attributed to the increase in demand. The demand for shapes and alloys in industries such as biomedicine, aerospace, defense, consumer electronics and household appliances has increased significantly. Shape memory alloy has pseudo-elasticity, shape memory effect and high damping characteristics. The application demand of medical implants and electronic products in segmented products is increasing.

　　From the perspective of alloy types, from 2018 to 2022, the market share of NiTi alloys will grow rapidly.

　　 The shape memory alloy market can be divided into nickel-titanium alloys, copper-based alloys, iron-manganese-silicon alloys, etc. In 2017, NiTi alloys accounted for the market share of shape memory alloys and will continue to maintain rapid growth from 2018 to 2022. Nitinol is mainly used to manufacture implantable medical devices, surgical instruments and automotive actuators. Therefore, the growth in demand for nickel-titanium alloys in industries such as biomedicine, automobiles, consumer electronics, and home appliances is expected to drive the shape memory alloy market.

　　 From the perspective of downstream demand, the demand for the biomedical industry will grow rapidly from 2018 to 2022

　　 In 2017, the demand for shape memory alloys in the biomedical industry accounted for market share. Shape memory alloys are widely used in medical implants, such as cardiovascular and endoscopic stents, orthopedic screws and wires, dental arch wires, automotive actuators, aircraft, and electronic components. Biomedicine, consumer electronics, and home appliances are end-use industries that are rapidly growing in the SMA market. The aging of the population, poor eating habits and lifestyles, and the increase of chronic diseases are the main factors driving the demand for shape memory alloys in the biomedical industry.

At present, the major players in the global shape memory alloy market are: American ATI Special Alloys and Parts Company (USA), SAEs (Italy), Johnson Matthey (UK), Nippon Steel&Sumitomo metals (Japan), Furukawa Electric Company (Japan), Fort Wayne metals (United States), Seisen (Japan), etc.

　　ATI specialty Alloyments and components (USA) is one of the manufacturers of shape memory alloys. In July 2017, ATI and Ge Aviation (USA) established a joint venture company to establish a research and development pilot plant in Pennsylvania to develop non-melting titanium alloy powder manufacturing technology. The company also signed a long-term purchase agreement with Pratt & Whitney (USA) to provide isothermal forging and nickel-based powder alloys for Pratt & Whitney's next-generation jet engines.