Persistence Market Research has recently conducted a comprehensive survey of the global metallic glass market for the forecast period of 2023 to 2033. The survey reveals strong growth prospects for the market, with an anticipated Compound Annual Growth Rate (CAGR) of 6.5% throughout the assessment period. By 2023, the global metallic glass market is expected to reach a valuation of US$ 896.3 Million. This growth is driven by the commercialization of new product portfolios and the expansion of products tailored to meet customer demand.
Key Insights:
Global Market Valuation (2024): US$ 954.4 Million
Market Size 2033: US$ 1679.0 Million
Projected CAGR (2023-2033): 6.5%
Global Metallic Glass Market - Report Scope:
Metallic glass, also known as amorphous metal, is a high-performance engineered material that combines selective properties of both metals and glasses. Unlike traditional metals and alloys, which typically have a crystalline atomic structure, metallic glasses possess an amorphous atomic structure similar to that of glass. This unique structure imparts metallic glasses with exceptional properties such as high corrosion resistance, excellent electrical conductivity, and high fracture toughness. However, they are also characterized by brittleness, opacity, and limited ductility.
Market Growth Drivers:
Commercialization of New Product Portfolios
The commercialization of new metallic glass products is a key driver of market growth. Companies are focusing on developing advanced metallic glass materials with enhanced properties tailored to specific applications. This innovation is expected to open new market opportunities, particularly in industries that require high-performance materials with unique properties, such as electronics, aerospace, and medical devices.
Expansion of Products Based on Customer Demand
As customer demands evolve, companies are expanding their product offerings to meet specific requirements. This expansion includes the development of metallic glass materials with improved corrosion resistance, higher strength, and better electrical properties. The ability to customize products based on customer needs is expected to drive market growth, as industries increasingly seek materials that offer both performance and reliability.
Unique Properties of Metallic Glass
Metallic glasses exhibit a combination of properties that make them highly desirable for various applications. Their high corrosion resistance makes them suitable for harsh environments, while their excellent electrical properties make them ideal for use in electronic components. Additionally, their high fracture toughness ensures durability in demanding applications, despite their inherent brittleness.
Challenges:
Brittleness and Limited Ductility
One of the primary challenges facing the metallic glass market is the material's brittleness and limited ductility. While metallic glasses offer high strength and toughness, their lack of ductility can limit their use in certain applications where flexibility and elongation are required. Overcoming this challenge through material innovation and engineering will be critical for the widespread adoption of metallic glass in various industries.
High Production Costs
The production of metallic glass can be more expensive than traditional metals and alloys due to the specialized processes required to achieve and maintain the amorphous structure. These high production costs can be a barrier to market growth, particularly in price-sensitive industries. However, advancements in manufacturing techniques and economies of scale may help to reduce costs over time.
Key Questions Answered in the Report:
What are the primary factors driving the growth of the global metallic glass market?
Which industries are leading the adoption of metallic glass materials?
How are advancements in material science influencing the competitive landscape?
Who are the key players in the global metallic glass market, and what strategies are they employing to maintain their market position?
What are the emerging trends and future prospects in the global metallic glass market?
Competitive Intelligence and Business Strategy:
Leading players in the global metallic glass market, including companies like Liquidmetal Technologies, Hitachi Metals, and Materion Corporation, are focusing on product innovation, strategic collaborations, and expanding their presence in emerging markets. These companies are investing in research and development to create next-generation metallic glass materials with enhanced properties that cater to specific industry needs. Strategic partnerships with key industry players and customers are also playing a significant role in driving market growth and ensuring long-term success.
Key Companies Profiled:
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
Key Segments Covered in Metallic Glass Industry Research
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
South Asia
East Asia
Oceania
Middle East & Africa
Table of Contents
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Market Demand Analysis 2019-2023 and Forecast, 2024-2033