Shape Memory Alloys Market Size

Shape Memory Alloys Market size was over USD 18.1 billion in 2025 and is estimated to reach USD 49.3 billion by the end of 2035, expanding at a CAGR of 11.8% during the forecast timeline, i.e., 2026-2035. In 2026, the industry size of shape memory alloys is evaluated at USD 20.2 billion.

The international shape memory alloys market is gaining increased importance due to the unique properties of these materials, such as lightweight strength, biocompatibility, and superelasticity. These make shape-memory alloys indispensable across the consumer electronics, automotive, aerospace, and biomedical industries. Besides, these industries are readily prioritizing performance efficiency, miniaturization, and sustainability, and meanwhile, shape memory alloys are effectively positioned as crucial enablers of cutting-edge technologies. According to an article published by NLM in September 2025, high-temperature shape memory alloys tend to exhibit severe benefits for extreme thermal conditions, deliberately maintaining almost 700 degrees Celsius in comparison to traditional alloys that are limited below 100 degrees Celsius. This, in turn, makes these alloys increasingly demanding for their application, particularly in automotive and aerospace sectors.

Furthermore, additive manufacturing, miniaturization in electronics, increased focus on sustainability, smart healthcare devices, and innovation in aerospace are other factors driving the shape memory alloys market globally. As per a report published by the Metal Powder Industries Federation in 2025, the power metallurgy products and parts sector, particularly in North America, has an approximate sales of USD 7 billion. In addition, the yearly global metal power production has readily exceeded 700,000 tons, which positively caters to the market’s upliftment. Besides, powder particles are usually specific in size and shape, ranging from 0.1 to 1,000 micrometers, while they are similar in size to the human hair diameter, ranging between 25 and 200 micrometers. Moreover, the ongoing shipments of different metal powders, especially from North America, to different nations is also fueling the shape memory alloys market’s demand internationally.

North America Metal Powder Shipments (2023-2024)

Source: Metal Powder Industries Federation