Metallic Glass Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The global metallic glass market is set to experience robust growth, with a projected Compound Annual Growth Rate (CAGR) of 8% from 2024 to 2031, according to a survey conducted by Fairfield Market Research. The market is poised to reach a valuation of US$ 900 Million in 2024, underpinned by a strong focus on commercializing new product portfolios and meeting customer demands.
Exploring Metallic Glass
Metallic glass is a high-performance engineered material that combines unique properties of both metals and glasses. It distinguishes itself with an amorphous atomic structure, similar to glass, as opposed to the typical crystalline atomic structure found in most metals and alloys. Despite its glass-like structure, metallic glass exhibits excellent electrical properties. It is highly corrosion-resistant, possesses high fracture toughness, but retains brittleness and opacity with limited ductility.
Market Dynamics
Energy Conservation Driving Growth
One of the key drivers for the metallic glass market is the increasing awareness of the need for energy conservation. In the Asia-Pacific region, transmission and distribution losses of energy range from 2.8% to 15.6% of total energy consumption. Amorphous Metal Core transformers (AMTDs) have emerged as a preferred solution due to their higher efficiency, leading to energy savings and reduced carbon emissions. The demand for AMTDs is expected to rise, positively impacting the metallic glass market.
Research and Innovations Unveiling Opportunities
Manufacturers of metallic glass are actively engaged in research and development endeavors to discover new applications for this material. The aerospace and sports & leisure industries are experiencing significant growth in the use of metallic glass, driven by its unique physical and mechanical properties. With an expanding range of applications, the demand for metallic glass is expected to increase in the near future.
Trade Barriers and Unfair Practices
The metallic glass market faces challenges due to unfair trade practices and trade barriers. China, for instance, has imposed antidumping duties on Japanese and U.S. metallic glass suppliers, leading to lower production and reduced prices in the global market. These factors have had a negative impact on global metallic glass prices, potentially affecting the market in the future.
Country-wise Insights
North America's Favorable Prospects
The United States is expected to have favorable growth prospects for the metallic glass market, with its collective sales likely to contribute to more than one-fifth of the global market share in 2023. North America, as a whole, is poised to dominate the global metallic glass market in terms of both value and volume. Collaborations with end-use customers and a focus on operational excellence are driving growth in this region.
China's Dominance in East Asia
East Asia is projected to experience substantial growth, primarily driven by new entrants collaborating with major license providers. China, in particular, has imposed anti-dumping duties on U.S. and Japanese metallic glass manufacturers to stimulate local production. Chinese manufacturers have a significant share of the domestic and international market, leading to price competition for U.S.-based metallic glass manufacturers.
Competitive Analysis
The metallic glass market is characterized as moderately consolidated, with unorganized sectors accounting for approximately 50.5% of the overall market share. The organized market comprises leading companies that hold more than 49.5% of the market share. To gain a competitive edge, market participants are increasing their investments in research and development to introduce new products and expand their global presence.
Key Market Participants
Several prominent companies in the metallic glass market include:
PX Group
Usha Amorphous Metals Limited
Exmet AB
Metglas Inc.
Shanghai Antai Zighao Amorphous Metal
Qingdao Yunlu Energy Technology Co., Ltd.
Materion
Adamant Namiki Precision Jewel Co., Ltd.
Heraeus Group
Eutectix
Metallic Glass Market Segmentation
By Product Type:
Metal-Metal
Metal-Metalloid
By Application:
Electrical & Electronic Products
Magnetic Products
Sensors & Measuring Instruments
Others
By Region:
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa
Table of Contents
1. Executive Summary
1.1. Global Metallic Glass Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Metallic Glass Market Outlook, 2018 - 2031
3.1. Global Metallic Glass Market Outlook, by Product Type, Value (US$ Mn), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Metal-Metal
3.1.1.2. Metal-Metalloid
3.2. Global Metallic Glass Market Outlook, by Application, Value (US$ Mn), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Electrical & Electronic Products
3.2.1.2. Magnetic Products
3.2.1.3. Sensors & Measuring Instruments
3.2.1.4. Others
3.3. Global Metallic Glass Market Outlook, by Region, Value (US$ Mn), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. North America
3.3.1.2. Europe
3.3.1.3. Asia Pacific
3.3.1.4. Latin America
3.3.1.5. Middle East & Africa
4. North America Metallic Glass Market Outlook, 2018 - 2031
4.1. North America Metallic Glass Market Outlook, by Product Type, Value (US$ Mn), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Metal-Metal
4.1.1.2. Metal-Metalloid
4.2. North America Metallic Glass Market Outlook, by Application, Value (US$ Mn), 2018 - 2031