VANCOUVER, BC, February 3, 2022 /PRNewswire/ — The Global Amorphous Metals Market Size reached $985.4 million in 2020 and is expected to record a stable revenue CAGR over the forecast period, according to the latest analysis from Emergen Research. Growing need for miniaturization and improved design of construction and industrial machinery are major factors that are expected to drive the market revenue growth.
Heavy industry components are subjected to stress and tension, compression, shock, abrasion and vibration during operation. These actions can cause severe deformation, structural displacement, and mechanical failure of materials that are not designed to withstand the specific stress levels in such a working environment. Stress levels can be reduced by using amorphous alloys with high tensile strength and superior high temperature hardness. Additionally, design stresses can also be reduced by taking advantage of high yield and tensile strength metals, resulting in lower foundation costs, space requirements due to reduced structural weight and the small physical size of the alloy, which leads to an increase in energy. efficiency and cost savings.
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Concerns about metal hardness are one of the main factors that could 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 therefore difficult to cut or break.
The global amorphous metals market is expected to register a CAGR of 8.8% during the forecast period and the revenue is expected to increase by $985.4 million in 2020 for $1,921.0 million in 2028. Rising demand for high yield strength metals is one of the major factors propelling the market revenue growth.
COVID-19 impact analysis:
The COVID-19 pandemic and subsequent lockdowns are having a negative impact on various industries. The pandemic has negatively impacted production and demand and caused supply chain disruption in all markets due to government shutdowns/lockdowns and restrictions, labor shortage/labour -work and the limited availability of equipment. However, government initiatives in various countries and the gradual restart of manufacturing and supply chain activities are having a 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 high corrosion resistance, wear resistance and tensile strength. Amorphous metals are widely adopted in building construction and industrial machinery coatings. Metals exhibit exceptional resistance to crystallization in the subcooled 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.
North America is expected to register a very stable revenue growth rate over the forecast period owing to the strong presence of major market players supplying amorphous metals such as Advanced Metal Technology, Inc. (Amtech), Materion Corporation, and Federal Steel Supply , Inc., among others in countries of the region.
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. Launching this project aims to create a better future with high quality products and superior service to customers.
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Emergen Research segmented Global Amorphous Metals Market Based on Type, Process, Application, End-Use and Region:
- Type Outlook (Revenue, USD Million, Volume, Tons; 2018-2028)
- Process Outlook (Revenue, USD Million, Volume, Tons; 2018-2028)
- chemical process
- physical process
- Application Outlook (Revenue, USD Million, Volume, Tons; 2018-2028)
- distribution transformer
- Electronic machinery
- Electronic components
- End-Use Outlook (Revenue, USD Million, Volume, Tons; 2018-2028)
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- Regional Outlook (Revenue, USD Million, Volume, Tons; 2018-2028)
- North America
- a. we
- b. Canada
- vs. Mexico
- a. Germany
- b. France
- vs. UK
- D. Italy
- e. Spain
- F. Benelux
- g. Rest of Europe
- Asia Pacific
- a. China
- b. India
- vs. Japan
- D. South Korea
- e. Rest of APAC
- Latin America
- a. Brazil
- b. Rest of LATAM
- Middle East & Africa
- a. Saudi Arabia
- b. United Arab Emirates
- vs. South Africa
- D. Turkey
- e. Rest of MEA
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