It is desirable to develop high temperature shape memory alloys with a martensitic transformation start temperature (Ms) above 100°C and a recoverable strain of about 4‐6% in the shape memory effect. The latter property is achieved with low variant reorientation stress due to easy detwinning of martensite and high plastic deformation stress due to precipitation strengthening. We have previously demonstrated the facilitation of detwinning for Ti–Zr–Ni–Pd quaternary alloy systems through controlling the crystal structure of martensite, and proposed that Ti–(15‐20)Zr–49.7Pd (at.%) and surrounding Ni‐containing compositions are candidates. In this study, aging temperature was optimized for a Ti–20Zr–49.7Pd alloy, and an excellent shape memory effect with Ms above 130°C, low reorientation stress around 200 MPa, high plastic deformation stress around 1800 MPa, and large recovery strain of 4.5% was achieved. On the other hand, short‐range ordering of solute atoms occurs just above the reverse transformation temperature and decreases Ms.
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