Amorphous Ribbons Market Size, Share, Growth, and Industry Analysis, By Type (Iron-Based, Cobalt-Based and Other Types), By Application (Distribution Transformer, Electric Machinery, Electronic Components and Others) Regional Forecast To 2028

Updated On: 20 November 2023

 Amorphous Ribbons Market REPORT OVERVIEW

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The global amorphous ribbons market size is estimated to be USD 609 million in 2022 and the market is projected to touch USD 913.9 million by 2028, exhibiting a compound annual growth rate (CAGR) of 7.0% during the forecasting period. The global COVID-19 pandemic has been unprecedented and staggering, with amorphous ribbons experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

A metallic alloy with an amorphous structure that is produced as a strip between 25 and 50 micrometres thick and 1 to 150 millimetres (0.04 to 6 inches) wide by the rotation of a copper drum onto which a melt of the required composition is ejected through an orifice. The melt is then instantly quenched. Amorphous metal is an alloy that is generated by ultra-rapid cooling of molten alloy and has a non-crystalline structure. Amorphous metal exhibits excellent magnetic properties such as high permeability and low loss while having a high-saturation magnetic flux density because it lacks anisotropic properties, which were derived from a crystalline structure, and there are no crystalline grain boundaries to prevent motion of magnetic domain walls.

Industrial transformers and power line transformers both use amorphous metal materials whose primary component is Fe (iron). Amorphous metal materials have a negligible no-load loss (iron loss), which is 1/5 that of silicon steel, when compared to traditional materials like silicon steel. As a result, they significantly aid in energy conservation.

Electric utilities and other sectors are looking for technology more than ever before that can lower their operating costs and increase energy efficiency throughout their systems. In order to help utilities, achieve these objectives, new transmission and distribution (T&D) technologies are now readily available. Lower core losses are made feasible by ultra-efficient transformer cores made of the amorphous metal alloy. Transformers made of amorphous metal are essential for boosting global energy conservation efforts and utility economics.

COVID-19 Impact: Economic Downfall of the Countries Due to the Pandemic to Hamper Market Growth

City-wide lockdowns and transport system failures brought on by the COVID-19 epidemic and the rising numbers of sick had an unevenly distributed impact on the planet and the global economy. Manufacturing activities and supply chains for chemicals and commodities are projected to be considerably impacted. The lockdown of cities and countries had brought transportation to a halt. There were tens of thousands of chemical enterprises that had temporarily closed their doors or were about to do so. Companies that rely largely on manufacturing for raw materials, components, or completed items would be most negatively affected. Amorphous ribbons have utilised supply chain methods including lean manufacturing, outsourcing, and offshore production in the last several years to lower the cost of manufacturing. The market was seriously threatened by the economic downturn that the epidemic caused in the majority of countries.

LATEST TRENDS

"Use of the Material in Electrical Industries to Fuel Market Growth"

High-performance, low-resistance wiring harnesses and cables are increasingly in demand from the electronics and electrical industries, which has been advantageous for the market. Amorphous ribbons are becoming more and more common in solar energy applications due to their improved power conversion efficiency. Amorphous ribbons market expansion is predicted to be fuelled by rising demand for lightweight and flexible electronic components in portable devices.

Amorphous Ribbons Market SEGMENTATION

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• By Type

Based on type; the market is divided into iron-based,cobalt-based and other types.

In terms of product, cobalt-based is the largest segment.

• By Application

Based on application; the market is divided into distribution transformer, electric machinery, electronic components and others.

In terms of application, distribution transformer is the largest segment.

DRIVING FACTORS

"Advanced Properties of the Material to Promote Market Growth"

Due to the advantages over the metallic counterparts in terms of lower weight, improved mechanical strength, and insulation against electricity flow, as well as other benefits like flexibility for changing designs without having to change components or production lines, amorphous materials have been drawing interest from a variety of end-use industries. In the upcoming years, these elements are anticipated to fuel demand for amorphous materials eventually driving the amorphous ribbons market growth.

"Advanced Technologies in the Market to propel Market Growth"

The market for amorphous ribbons has seen a surge in sales due to the proliferation of next-generation display technologies like OLEDs and quantum dots that need thin, transparent films for illumination. The market has gained ground thanks in large part to the development of inventive manufacturing technologies that lower production costs and permit wider commercialization. The substance has a high energy content that can be employed in a variety of applications, including batteries, and is exceedingly hard and electrically resistant.

RESTRAINING FACTORS

"Poor Thermal Consistency to Constrain Market Growth"

Due to their poor thermal stability, these products need to be handled carefully to prevent damage. Different methods, such as heating above the melting point or chilling below the temperature of crystallisation, can result in damage. To cut this material into section is a tough job. Hence preferred to be manufactured as a hollow cylindrical wound core of single continuous strip.

Amorphous Ribbons Market REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Due to Increased Demand "

Over the course of the projected period, Asia Pacific is anticipated to maintain its dominance of the global amorphous ribbons market. The demand for AGD amorphous ribbons in this region has been boosted by the presence of important manufacturers including Samsung, Panasonic Corporation, LG Electronics Inc., Sony Corporation, Fujifilm Holdings Corp., and Hitachi, Ltd. In addition to this aspect, it is projected that rising government investments in the production of transformers will spur industry growth during the next eight years. Due to growing consumer awareness of the energy conservation measures implemented by governments worldwide, the manufacturing sectors of electrical & electronics and medical equipment & devices account for the greatest percentage of the amorphous ribbons market share in the Asia Pacific region.

KEY INDUSTRY PLAYERS

"Innovative Creations by Manufacturers to Increase Market Growth"

The report gives a thorough overview of the analysis of key characteristics of amorphous ribbons industry, including sales value, sales volume, market revenue, and demand size, as well as sales growth, pricing analysis, and shifting regional market growth factors. The report includes information on market participants and their relative standings within the amorphous ribbons market. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being acquired and made available. Data on manufacturers, regions, types, applications, sales channels, and distributors are included in the study on materials.

List of Market Players Profiled

• Hitachi Metals (Japan)
• Advanced Technology & Materials (China)
• Qingdao Yunlu Advanced Materials Technology (China)
• Zheijiang Zhaojing Electrical Technology (China)
• VACUUMSCHMELZE (Germany)
• Henan Zhongyue amorphous new materials (China)
• China Amorphous Technology (China)
• Anhui Wuhu Junhua Technology Material ()

REPORT COVERAGE

The amorphous ribbons market research report keeps a close eye on the major competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis, and a comprehensive description of the market circumstances in the projected period. It is an expertly written, in-depth study that emphasises key and secondary drivers, market share, top categories, and regional analysis. The paper also examines prominent actors, significant partnerships, mergers, and acquisitions, as well as popular innovations and business practises. The report gives neutral perspective on the market performance.