Amorphous Metals Market Size to Reach USD 1,921.0 Million in 2028 | Increasing Demand for High Yield Strength and Better Conductivity Metals are Key Factors Driving Industry Demand, According to Emergen Research

VANCOUVER, BC, Feb. 3, 2022 /PRNewswire/ -- The global amorphous metals market size reached USD 985.4 Million in 2020 and is expected to register a steady revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing need for miniaturization and design improvement in construction and industrial machinery are major factors expected to drive market revenue growth.

Drivers:

Heavy industry components are subjected to stress and tension, compression, impact, abrasion, and vibration during operation. These actions can cause significant deformation, structural displacement, and mechanical failure in materials that are not designed to withstand the specific stress levels in such a working environment. The stress levels can be reduced using amorphous alloys with high tensile strength and superior hardness at high temperatures. In addition, design stresses can also be reduced by taking advantage of high-yield and tensile strength metals, which results in decrease in foundation costs, space requirements due to reduced weight of the structure and small physical size of the alloy, resulting in increased energy efficiency and cost savings.

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Restraints:

Concerns regarding hardness of metals is one of the major factors expected to hamper revenue growth. Amorphous metals are made from alloys whose constituents include Iron (Fe), Nickel (Ni), and Cobalt (Co), and a metalloid or glass former such as silicon, boron, or carbon. The metals are very hard and are thus difficult to cut or break.

Growth Projections:

The global amorphous metals market is expected to register a CAGR of 8.8% over the forecast period and revenue is projected to increase from USD 985.4 Million in 2020 to USD 1,921.0 Million in 2028. Increasing demand for high yield strength metals is one of the major factors propelling revenue growth of the market.

COVID-19 Impact Analysis:

The COVID-19 pandemic and subsequent lockdowns have a negative impact on various industries. The pandemic had a negative impact on production and demand and caused supply chain disruption across all markets due to government shutdowns/lockdowns and restrictions, workforce/manpower shortage, and limited equipment availability. However, government initiatives across various countries and gradual restart of manufacturing and supply chain activities is having positive impact on the market.

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Current Trends and Innovations:

Amorphous metals are non-crystalline and have a glass-like structure having higher corrosion resistance, wear resistance, and high tensile strength. Amorphous metals are widely adopted in building construction and industrial machinery coatings. The metals exhibit exceptional resistance to crystallization in undercooled liquid state. As a result, these can be used in engineering materials to create new designs after cooling to form glass or amorphous alloys, which exhibit very high strength.  

Geographical Outlook:

North America is expected to register a significantly steady revenue growth rate over the forecast period due to robust presence of major market players providing amorphous metals such as Advanced Metal Technology, Inc. (Amtech), Materion Corporation, and Federal Steel Supply, Inc. among others in countries in the region.

Strategic Initiatives:

Some major companies included in the global market report are Hitachi Metal, Ltd., Materion Corporation, Qingdao Yunlu Advanced Materials Technology Co., Ltd., China Amorphous Technology Co., Ltd., Zhaojing Incorporated, Shijiazhuang Shenke Metal Products Co., Ltd., Federal Steel Supply, Inc., Advanced Metal Technology, Inc. (Amtech), Henan Zhongyue Amorphous New Materials Co., Ltd., and Junhua Technology Co., Ltd.

·  In February 2021, Qingdao Yunlu Advanced Materials Technology Co., Ltd. launched the MES project in order to record, analyze data, and parameter information in the production process of new products. The launch of this project aims to create a better tomorrow with high-quality products and superior service to customers.

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Emergen Research has segmented global amorphous metals market on the basis of type, process, application, end-use, and region:

• Type Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
• Iron Based
• Cobalt Based
• Others
• Process Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
• Chemical Process
• Physical Process
• Others
• Application Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
• Distribution Transformer
• Electronic Machinery
• Electronic Components
• Others
• End-use Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
• Residential
• Industrial
• Electrical
• Others

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• Regional Outlook (Revenue, USD Million, Volume, Tons; 2018–2028)
• North America
• a.  U.S.
• b.  Canada
• c.  Mexico
• Europe
• a.  Germany
• b.  France
• c.  U.K.
• d.  Italy
• e.  Spain
• f.  Benelux
• g.  Rest of Europe
• Asia Pacific
• a.  China
• b.  India
• c.  Japan
• d.  South Korea
• e.  Rest of APAC
• Latin America
• a.  Brazil
• b.  Rest of LATAM
• Middle East & Africa
• a.  Saudi Arabia
• b.  UAE
• c.  South Africa
• d.  Turkey
• e.  Rest of MEA

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