A
new research report by Transparency Market Research offers a
comprehensive evaluation of the global Nitinol
Market. The
study, titled “Nitinol
Market - Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast 2016 - 2024”,
is available for sale on the firm’s website.
Shape
memory alloys (SMA) are referred to as a unique class of metals,
which have the ability to regain their original shape after severe
deformation. Shape memory is basically a property possessed by
certain materials that have the ability to remember the shape given
during themo-mechanical processing allowing the materials to regain
their original shape when subjected to heat. This is because SMAs
when subjected to external heat or internal electrical current flow,
exhibit a reversible thermoelastic martensite transformation with a
macroscopic shape change. Thus, these alloys are being employed in
various industries such as medical, robotics, automotive, and
aerospace due to the possession of this unique biochemical property.
SMAs, over the years, have gained a strong foothold because they
offer incredible flexibility in comparison to other conventional
materials. Currently, copper-aluminum-nickel, zinc-aluminum, nitinol,
and iron-manganese-silicon alloys are various commercially available
shape memory alloys.
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Of
these shape memory alloys, Nitinol is an alloy composed of titanium
and nickel. It contains these two elements at approximately equal
atomic percentages. Nitinol has been employed in a range of medical
devices and is the most significant alloy in biomedical applications
for over thirty years. Therefore, increased utilization of this alloy
has replaced the consumption of stainless steel in the manufacturing
of medical devices substantially. Nitinol has been widely employed in
medical devices where its unique properties allows minimally invasive
surgery and implants to improve the quality of life. Nitinol is
popular in medical devices due to its elasticity, biocompatibility,
and fatigue and kink resistance. nitinol is utilized to manufacture
guidewires, filters, catheter tubes, needles, dental files, and
various other surgical instruments in the healthcare sector.
Increased
usage of nitinol, to manufacture various medical devices has changed
the algorithm of disease treatment. The nitinol market exhibits
considerable potential for expansion, particularly in developing
nations, due to rise in geriatric population globally and the
increasing rate of vascular diseases such as peripheral arterial
diseases and coronary artery diseases. Increasing adoption of
minimally invasive procedures that involve the usage of miniature
devices is driving the expansion of the nitinol market., Nitinol has
increasingly being employed in medical devices as a material for
graft support system, self-expanding stents , baskets, filters, and
various other medical devices for various endoscopic and
interventional procedures. The growth in this industry has increased
over the last 10 years with increase in the number of nitinol
suppliers and is progressing at a faster pace, with increasing demand
from medical device community. Moreover, nitinol alloy is employed in
the automotive (sealing plugs and locking rings), defense (special
antennas, wire, harness and cable) and aerospace industries (locking
rings, actuators and connectors for electronica and safety devices),
particularly where thermal shape memory enables actuators.
Furthermore, nitinol has been useful in industrial applications such
as couplings, actuators, sealing high-pressure fuel passages, and in
commercial applications such as cellphone antennae and eyeglass
frames.
In
terms of geography, North America accounted for major share of the
global nitinol market, in terms of volume, in 2015. However, Asia
Pacific due to the presence of large population base, increasing
healthcare awareness, favorable government support and expanding
medical industry, is anticipated to expand significantly during the
forecast period.
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Key
players operating in the global nitinol market include E. I. Du Pont
De Nemours and Company, Exmovere Holdings, Inc., Noble Biomaterials,
Inc., and Noble Biomaterials, Inc.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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