Cobalt Based Amorphous Metal Ribbons Market Size, Share, Growth, And Industry Analysis By Type (5-50mm, 50mm-100mm, 142mm-213mm, Others), By Application (Consumer Electronics, Aerospace, Medical, Industrial Power, Electricity, Electric Cars & High-Speed Rail, Others) and Regional Forecast to 2029

Updated On: 22 April 2024

cobalt based amorphous metal ribbons market Report Overview

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The global cobalt based amorphous metal ribbons market size was USD 167.9 million in 2023 and will reach USD 195.8 million by 2029, at CAGR of 2.6% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A solid metal, usually an alloy, with a disordered atomic-scale structure is known as an amorphous metal (also known as a metallic glass or glassy metal). In the solid state, most metals are crystalline, meaning that their atoms are arranged in a neat pattern. Amorphous metals have a glassy structure and are not crystalline. An amorphous metal is a solid metallic material, usually an alloy that has a disordered atomic-scale structure. Most metals are crystalline in the solid state, meaning they have a highly ordered arrangement of atoms. Amorphous metals are non-crystalline and have a glassy structure. However, unlike ordinary glasses, such as window glasses, which are usually electrically insulating, amorphous metals have good electrical conductivity.

In addition, one of the most important reasons for the increase in market turnover is the growing demand for high-yield metals. The growth of the market is due to the increasing demand for cobalt-based amorphous metal strips in various applications such as consumer electronics, aerospace, medical, industrial power, electricity and electric cars and high-speed rail. Market growth is driven by growing demand from the consumer electronics industry and growing use of cobalt-based amorphous metal strips in electric cars and high-speed trains.

COVID-19 Impact: COVID-19 Leads To Reduction in Product Demand Causing Disruptions In Industrial Growth

COVID-19 has had a life-changing impact around the world. The impact on the world market for cobalt based amorphous metal ribbons was significant. The virus had different effects in different markets. Lockdown was imposed in several countries. This irregular pandemic has caused disruptions in all types of businesses. Restrictions are becoming more severe due to increased cases during the pandemic. Several industries are affected. However, the demand in the market for amorphous metal tapes has decreased. Electricity consumption has increased worldwide. Its need has increased due to the use of fans, multi-function lights, etc. To keep up with electricity demand, transformers were installed in several places so that there would be no power outages in the hospital or in the vicinity. This led to an increase in the use of amorphous metal tapes as they were highly magnetic and ideal for use in transformers. As the demand for electricity increases, the global market for amorphous metal strips is growing

Latest Trends

"Increasing Demand from The Electronics And Electrical Industry Will Broaden Market Growth "

Increasing demand from the electronics and electrical industry for high-performance, low-weight materials is projected to drive the growth of the cobalt-based amorphous metal ribbons market. Rising demand for energy-efficient and durable products is also anticipated to propel the growth of this market in the near future. They are extremely elastic while also being extremely rigid. Their internal structure is disorganized. This is because they cool quickly from the melting stage, preventing the formation of a regular crystal structure. The result is an amorphous, non-crystalline solid in which most of the atoms are still in an unorganized form. The growth of the global amorphous metal tape market is expected to increase due to the recent attempts of young heads. According to an article published in the journal Ceratizitis, a group of engineers from several universities has developed a type of amorphous steel that can be repaired to withstand impacts. They named this alloy SAM2X5-630. Its applications are mainly focused on body armor and meteor-proof housings for satellites.

cobalt based amorphous metal ribbons market Segmentation

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• By Type Analysis

According to type, the market can be segmented into 5-50mm, 50mm-100mm, 142mm-213mm, others. 5-50mm is anticipated to be leading segment.

• By Application Analysis

Based on application, the market can be divided into Consumer Electronics, Aerospace, Medical, Industrial Power, Electricity, Electric Cars & High-Speed Rail, Others. Consumer Electronics will be the dominating segment.

Driving Factors

"High Usage of Iot Devices To Propel The Market Growth"

The growing integration of IoT in the IoT of printing connect brings many new features to the printers, which is likely to increase the demand for thermal printers and thermal transfer ribbon market.  Internet of Things IoT devices such as vending machines thermostats. It has been predicted that the number of security cameras and network printers will reach 20-50 billion worldwide by 2020. Growing demand for high performance strength metals is expected to drive revenue in the global cobalt based amorphous metal ribbons market growth. Heat transfer in poorly conductive materials is a common problem in industrial applications, and poor conductivity leads to heat being distributed to all parts over a longer period of time. However, amorphous metals with good thermal conductivity can help solve such challenges by preventing heat transfer in and out of the material, optimizing operating costs and reducing energy consumption.

"Increasing Use of Ribbons In Medicine Area to Fuel The Market Growth"

The growing popularity of amorphous metal ribbons as a substitute for traditional materials in various end uses is another key factor that would increase the demand for these products in the coming years. Increasing R&D activities by key players in this market is likely to lead to innovations that boost the amorphous metal ribbons market growth in the coming years. The production of patient bracelets uses thermal print heads, labels, freezer, label and others. Due to COVID-19, the number of patients returning to the hospital has increased significantly.

Restraining Factor

"High Cost, Effect of Force On Performance And Concerns About The Hardness May Restrict The Market Growth"

However, the high cost of amorphous metals, concerns about the effect of mechanical force on their performance, and concerns about the hardness of metals are some of the major factors that are expected to restrict the revenue of the global amorphous metals market to some extent during the forecast period. In addition, the development of amorphous metals requires better tool utilization due to hardness and demand for the purest alloy without combining oxygen and carbon, resulting in high cost of amorphous metals, which is expected to restrain the market growth somewhat. Harmful environmental impact-poly-based material is used in the manufacture of heat transfer tapes. This material is extracted from the crude petroleum products that are likely to be generated increased the mining and ultimately affected the cobalt based amorphous metal ribbons market. In addition, the production of this polygrain material generates a huge amount of waste, which also contributes environmental pollution and is expected to slow down the growth of the market. The global amorphous alloy strip market is hampered by the fact that amorphous is very thin, with a significantly higher hardness than silicon steel plate, which makes cutting and handling difficult.

cobalt based amorphous metal ribbons market Regional Insights

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"Asia Pacific to Dominate The Market Due To Its Extensive Use In Various Applications"

In 2020, Asia Pacific accounted for relatively higher cobalt based amorphous metal ribbons market share of revenue in the global amorphous metals market than other regional markets. Asia-Pacific amorphous metal market is expected to generate higher revenue than other regional markets during the forecast period. The use of ferrous amorphous metals in countries such as China, India, and Japan is expected to drive market revenue during the forecast period. In addition, rapidly growing industrialization is increasing the demand for better protective coatings, which in turn is expected to boost market revenue in the near future. The increasing expenditure on the development of various electronic devices and the strong presence of amorphous metal suppliers in the countries of the region are also contributing to the growth of the market turnover in the Asia Pacific region.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.

List of Market Players Profiled

• Hitachi Metal (Japan)
• Advanced Technology (China)
• Qingdao Yunlu (China)
• Henan Zhongyue (China)
• China Amorphous Technology (China)
• Zhaojing Incorporated (China)
• Junhua Technology (China)
• Londerful New Material (China)
• Shenke (China)
• Orient Group (China)
• Foshan Huaxin (China)

Report Coverage

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.