Home > Chemicals & Materials > Specialty Glass > Metallic Glass Market

Metallic Glass Market Size - By Product (Metal-Metal, Metal-Metalloid), By Sector (Electrical & Electronics, Sports) & Forecast, 2024-2032

  • Report ID: GMI4722
  • Published Date: Aug 2024
  • Report Format: PDF

Metallic Glass Market Size

Metallic Glass Market size was valued at USD 1.6 billion in 2023 and is projected to expand at over 6.1% CAGR from 2024 to 2032. The market is characterized by amorphous metals created through rapid cooling of molten alloys, which prevents the formation of a crystalline structure. These materials boast exceptional traits, including high strength, elasticity, and corrosion resistance, rendering them ideal for a diverse array of applications.
 

Metallic Glass Market

Noteworthy sectors leveraging metallic glasses include electronics, where they find utility in transformers and inductors; the medical domain, for crafting surgical instruments and implants; sports equipment; and the aerospace and defense sectors, particularly in structural components. With a rising appetite for high-performance materials and continuous R&D efforts aimed at expanding their applications and enhancing their properties, the market is primed for substantial growth. According to data from the U.S. Department of Energy, the demand for high-performance materials has increased by 15%, further supporting the market's expansion.
 

Due to its random atomic structure, amorphous metal typically exhibits 2 to 3 times higher electrical resistivity than its crystalline counterparts, making it an attractive substitute for traditional, less efficient materials. Amorphous metal, notably prevalent in distribution transformers, holds the potential to slash no-load losses by up to 70% compared to conventional technologies. Its benefits, including easy magnetization, minimal magnetic losses, rapid flux reversal, low energy consumption, and reduced heat generation, are driving global adoption and are set to propel demand for metallic glass throughout the study period.
 

China, commanding nearly 40% of the global electric industry, leads the metallic glass market, followed by the U.S., Japan, and South Korea. Asia Pacific emerges as the dominant player, claiming over 60% of the market, with North America and Europe trailing.
 

 This regional dominance is fueled by escalating urbanization, robust economic expansion, a swelling population, and rapid industrialization. Government initiatives, alongside both private and public investments, further bolster the electric industry in the region. As metallic glass finds increased commercial applications in the electric sector, its overall market is poised for substantial growth by 2026.
 

With a surge in R&D investments, companies are eyeing metallic glass as a potential replacement for traditional engineering materials, further propelling the market. Notably, the strong backing from industries, particularly in high-growth regions like the APAC, has significantly amplified metallic glass's utilization across various business segments.
 

The metallic glass market grapples with several hurdles that hinder its expansion. Chief among these is the costly production process, demanding rapid cooling and precise control. This precision comes at a premium. Furthermore, end-users' limited awareness and understanding of metallic glass properties hinder its uptake. The market faces stiff competition from traditional materials, such as steel and aluminum, which boast broader acceptance. Adding to the challenges, the market struggles with scalability, particularly in crafting large-scale metallic glass components. Lastly, maintaining consistent quality and performance across diverse applications poses technical hurdles, hampering market growth.
 

Metallic Glass Market Trends

The metallic glass industry is on an upward trajectory, propelled by its standout features such as exceptional strength, resistance to corrosion, and impressive magnetic capabilities. Noteworthy trends include a rising preference in electronics and consumer goods, driven by the quest for enhanced durability and the trend towards miniaturization. Furthermore, advancements in manufacturing techniques and the evolution of alloys are broadening the scope of applications.
 

Concurrently, ongoing research is focused on elevating the material's properties and streamlining production costs. Notably, the automotive and aerospace sectors are eyeing metallic glasses for their promise in crafting lightweight, high-performance components. These developments underscore a surge in innovation, underscoring the market's expanding potential, especially in cutting-edge applications.
 

Metallic Glass Market Analysis

Metallic Glass Market, By Product, 2021 - 2032 (USD Billion)

The metal-metal segment is anticipated to reach USD 1.7 billion by 2032, growing at a CAGR of over 6% during the forecast period. Metal-metal composites typically consist of a predominant metal, with the addition of another metal, often ranging from 9-10% to as much as 50%. This composition imparts superior structural strength, making these materials ideal for applications demanding both strength and ductility. Moreover, their magnetizable nature broadens their utility across a spectrum of industrial sectors.
 

The metal-metal segment is primarily driven by the growing demand from supporting industries like electrical & electronics, sports, and aerospace. Technological advancements in electronics and tooling have made these materials increasingly prevalent in electronics and component manufacturing. As the demand for high-performance electronics grows, manufacturers are turning to metallic glass for its superior performance and aesthetic advantages, creating a favorable market scenario.
 

Metallic Glass Market Revenue Share, By Sector, (2023)

The metallic glass market share from the electrical & electronics segment will observe around 5.8% CAGR through 2032 with a market size of USD 2.2 billion. The electrical and electronics sector of the market is witnessing growth, primarily attributed to the material's superior electrical and magnetic characteristics. Metallic glasses, known for their high permeability and low core loss, are finding increasing applications in transformers, inductors, and magnetic sensors.
 

Additionally, their remarkable thermal and mechanical stability not only bolsters the performance of electronic components but also extends their lifespan. With a trend toward smaller, more energy-efficient devices, the demand for advanced materials, such as metallic glasses, is on the rise. Moreover, advancements in production methods and alloy formulations are further propelling their utilization in high-frequency and high-performance electronics, thereby fueling growth in this sector.
 

Asia Pacific Metallic Glass Market Size, 2021- 2032 (USD Million)

Asia Pacific metallic glass market will record a market size of about USD 1.03 billion and 6.6% CAGR during 2024 and 2032. The Asia-Pacific region, spearheaded by nations such as China, Japan, and South Korea, stands at the forefront of the market. These countries are pioneers in utilizing metallic glasses, especially in sectors like electronics, automotive, and aerospace. Their demand for cutting-edge materials and tech-driven products are propelling the market's growth.
 

Additionally, heightened R&D investments, backed by favorable governmental initiatives, are amplifying this expansion. With its rich industrial diversity and a robust innovation framework, the Asia-Pacific region emerges as a pivotal force in the market.
 

Metallic Glass Market Share

Metallic Glass Market Company Share, (2023)

In the metallic glass industry, companies are actively pursuing strategies to bolster their competitive positions. This includes prioritizing R&D efforts to elevate material properties and broaden applications. Collaborations with tech firms and research institutions are prevalent, aiming to fuel innovation and widen market reach. Furthermore, investments in cutting-edge manufacturing techniques are common, with a dual focus on enhancing production efficiency and trimming costs.
 

Diversification is a key tactic, with companies venturing into new sectors such as electronics, aerospace, and automotive. Complementing these efforts, aggressive marketing and sales strategies are being deployed to not only secure a larger market share but also to meet the escalating demand for high-performance materials.
 

Metallic Glass Market Companies

Top companies operating in the metallic glass industry include:

  • Hitachi Metals Ltd.
  • Liquidmetal Technologies Inc.
  • Usha Amorphous Metals Limited
  • RS Alloys
  • Antai Technology Co., Ltd.
  • PX Group SA
  • EPSON ATMIX Corporation
  • Heraeus Holding
  • PrometalTech
  • Materion Corporation
     

Metallic Glass Industry News

  • In 2022, Hitachi Metals Ltd. unveiled a groundbreaking metallic glass alloy, boasting superior strength and ductility compared to its predecessors. This innovative alloy is poised to find applications across diverse sectors, from automotive and medical devices to aerospace components.
     
  • In 2022, Materion Corp. unveiled a novel range of metallic glass offerings tailored for the medical and electronics sectors. These products, meticulously crafted, are poised to find applications in a diverse array, spanning from pacemakers and MRI machines to electronic displays.
     

The metallic glass market research report includes in-depth coverage of the industry, with estimates and forecasts in terms of revenue and volume (USD Billion) (Kilo Tons) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report


Market, By Product

  • Metal-Metal
  • Metal-Metalloid

Market, By Sector

  • Electrical & Electronics
  • Sports
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of metallic glass reached USD 1.6 billion in 2023 and is set to expand at over 6.1% CAGR from 2024 to 2032, led by a rising appetite for high-performance materials and continuous R&D efforts aimed at expanding their applications and enhancing their properties.

The electrical & electronics segment will observe around 5.8% CAGR through 2032, attributed to the materials superior electrical and magnetic characteristics.

Asia Pacific market will record 6.6% CAGR during 2024 and 2032, owing to wider product utilization, especially in sectors like electronics, automotive, and aerospace, which require cutting-edge materials and tech-driven products.

Hitachi Metals Ltd., Liquidmetal Technologies Inc., Usha Amorphous Metals Limited, RS Alloys, Antai Technology Co., Ltd., PX Group SA, EPSON ATMIX Corporation, Heraeus Holding, PrometalTech, and Materion Corporation.

Metallic Glass Market Scope

Buy Now


Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 172
  • Countries covered: 22
  • Pages: 200
 Download Free Sample