Metallic Glass Market to exceed $2.08 billion by 2026
Published Date: June 8, 2020 Authors: Kiran Pulidindi, Sayan Mukherjee
According to a new research report by Global Market Insights, Inc. the Metallic Glass Market size to exceed USD 2.08 billion by 2026. Rising product consumption for sporting goods is positively influencing the market growth.
Rising product consumption in sports industry will propelr the growth of metallic glass market in the coming years. Lower elastic modulus and better elastic limit of amorphous metal as compared to traditional materials makes it more suitable for sports application. Product is widely used in sports industry for golf head, tennis racket, baseball bat, etc.
Product has gained substantial popularity in the manufacturing of golf head. Apart from characteristics like high-strength to weight ratio and low density, merits like lower vibrational response and low elastic modulus provides softer and more solid feel which enhances the control when a golfer strikes the ball.
It transfers more energy to the ball as amorphous metal absorbs less energy during the impact, owing to the negligible hysteresis loss. Shape memory ability of the material also provides increased ability to be used in sporting equipment.
Amorphous metal remains stable against crystallization and soften into liquid form easily and is relatively more viscous than molten pure metal. This unique behavior of the material allows material to be malleable at 400 degrees, which is much lower than other metals. This characteristic allows the amorphous metal to be formed and manufactured through easy and cheap thermoplastic process. Low shrinkage during solidification coupled with minimal need for secondary finishing processes, poses positive outlook for the metallic glass market.
Browse key industry insights spread across 126 pages with 141 market data tables & 17 figures & charts from the report, “Metallic Glass Market By Product (Metal-metal, Metal-metalloid), By Sector (Electrical & Electronics, Sports), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Metalloid to experience wider adoption
Metal-metalloid will witness around 8% CAGR through 2026. It constitutes two parts with one being metal and other being the metalloid such as B, Si, Ge in a pure or mixed format, depending on the applicable use. Better glass forming ability as compared to metal-metal product type will propel the metallic glass market growth. With constant improvement in technology and research, the quantity of metalloids in glasses are incrementally improved with metalloids content exceeding 20%.
Increasing adoption of sporting good manufactures
Sporting segment holds substantial share and will witness growth at a CAGR above 8.3% throughout the forecast timespan. It can be ascribed to extensive adoption of competitive sporting equipment. The application array of these material includes bars, joints, rivets, tubes, and structural enhancements. The replacement of steel parts will further strengthen the metallic glass market penetration.
Apart high end equipment, metal-metal based amorphous metal are also being witnessed in medium to premium consumer accessories offerings. For instance, in January 2020, Panerai, a watch manufacturer announced launch of its watch integrated with metallic glass inserts for shiny and premium aesthetics.
North America to hold substantial market share
North America region will hold over 30% market share in 2026. It can be ascribed to rising product consumption in various end-use industries including medical, aerospace, and automotive. The U.S. is the second largest electric market with around one-fifth market share. Rising demand for consumer electronics, higher disposable income, technological advancement are some of the factors driving the growth of regional electronics & electrical sector and will prosper the regional metallic glass market consumption.
The region is heavily focusing on employing AMDT (amorphous metal distribution transformers) to reduce the transformer losses, waste heat production, and better conductivity. North America is witnessing substantial rise in research & development activities to widen the application range of amorphous metal.
The NASA has qualified bulk amorphous metal gear materials for spacecraft applications. The region is also witnessing the rise in product consumption in regional medical sector for surgical tools, stents, etc. These trends will prosper the growth of regional metallic glass market.
Industry to witness surge in R&D investments
Metallic glass manufacturers are increasing R&D investment to decrease the production and ownership cost. The key manufacturers the metallic glass industry include Hitachi Metals Ltd Usha Amorphous Metals Limited, ., Liquidmetal technologies Inc., RS Alloys, PX Group SA, Antai Technology Co., Ltd., Heraeus Holding, Epson Atmix Corporation, Materion Corporation and PrometalTech.