The global amorphous soft magnetic materials market is set to gain traction from the increasing research activities to develop new fabrication methods. Several researchers are striving to blend amorphous and nano-crystalline alloys for improving ductility & thermal stability. Fortune Business Insights™ presents this information in a new study, titled, “Amorphous Soft Magnetic Materials Market Size, Share & Industry Analysis, By Application (Electronic Article Surveillance, Flexible Antenna, Magnetic Sensors, Magnetic Shielding, Transformers, and Others), and Regional Forecast, 2025-2032.” The study further mentions that the amorphous soft magnetic materials market size was USD 522.4 million in 2019 and is projected to reach USD 728.5 million by 2027, exhibiting a CAGR of 4.7% during the forecast period.
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Drivers & Restraints-
What is driving the growth of the amorphous soft magnetic materials market?
The market is growing due to the high demand for amorphous alloys, which are made of cobalt, nickel, iron, silicon, phosphorus, carbon, and boron. Industrial users are seeking materials that help reduce operating costs, save energy, and improve efficiency. Amorphous alloys meet these needs with properties such as high mechanical strength and low coercive field, boosting market growth.
What factors could restrain the market growth?
The market growth may be hampered by the availability of substitute soft magnetic materials, which can compete with amorphous alloys for similar applications.
Segmentation Analysis-
Which application segment leads the market and why?
The transformers segment leads the market, holding 55.9% share in 2019. Amorphous alloys are widely used in transformer cores, improving efficiency and reducing overall weight, making them the preferred material in this application.
Regional Analysis-
Asia Pacific to Dominate Stoked by Rising Development of Transformers in China
Regionally, Asia Pacific generated USD 286.1 million in terms of revenue in 2019. This growth is attributable to the major contributions of China. It is considered to be one of the largest manufacturers of amorphous metal transformers, thereby resulting in the surging demand for amorphous soft magnetic materials. Apart from that, the rising usage of electric vehicles (EVs) in this country is set to augment the market growth in Asia Pacific. Europe, on the other hand, is expected to remain in the second position stoked by the presence of a well-established electronics industry in Germany.
Competitive Landscape-
Key Players Aim to Launch New Amorphous Soft Magnetic Materials to Intensify Competition
The market for amorphous soft magnetic materials consists of a wide range of companies functioning from across the globe. They are trying to strengthen their positions and overtake their rivals by introducing state-of-the-art products in the market. Below are two of the latest industry developments:
- June 2020: Metglas®, Inc. introduced its latest amorphous metal transformer core product. It is specially developed with Metglas® 2605HB1M transformer core alloy.
- January 2018: Hitachi Metals, Ltd. created MaDC-A™. It is equipped with the Fe-based amorphous alloy called Metglas®. It also possesses approximately 25% lower core loss, unlike the traditional products.
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