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Global Shape Memory Alloys Market Size, Share, Trends, and Forecast, 2026-2031 | Market to Reach USD 31.97 Billion as Medical, EV, and Aerospace Demand Drives 11.23% CAGR
GlobeNewswire Inc.·
The global shape memory alloys market is projected to grow from USD 17.14 billion in 2025 to USD 31.97 billion by 2031, driven by demand in medical devices, aerospace, electric vehicles, and consumer electronics. Nitinol dominates the market due to its superior biocompatibility and performance. Key growth drivers include minimally invasive medical procedures, aerospace weight reduction, EV thermal management, and smartphone actuators. Major consolidation activity and capacity expansions are reshaping the competitive landscape.
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