Shape Memory Alloy Market - Forecast(2021 - 2026)
Shape memory alloys are unique materials, an alloy of two or more metals that can retain their original form, after being deformed due to stress, by the application of heat above a certain temperature or mechanical stress or both. It can also be induced by the presence of a magnetic field for Magnetic shape memory alloys. The shape memory alloy’s market is not well penetrated with only few players active in the market. The market players are from Europe, Asia and the US mainly. Shape Memory Alloy (SMA) Market Outlook: Shape memory alloys have two stable phases, Austenite and Martensite. Austenite is the high temperature phase and Martensite is the low temperature phase. On heating the alloy it changes from the martensite phase to the austenite phase and on cooling vice-versa, with or without mechanical load. This feature of it and its super-elasticity is what is used for all the application purposes. Shape memory alloys have found a major market in the automotive and bio-medical secto...