Metallic Glass Market
Metallic Glass Market Study by Metal-Metal and Metal-Metalloids for Electrical & Electronic Products, Magnetic products, Sensors & Measuring Instruments, and Others from 2024 to 2034
Analysis of Metallic Glass Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Metallic Glass Market Outlook (2024 to 2034)
The global metallic glass market size is estimated to be valued at US$ 927.4 million in 2024. Projections indicate a steady expansion with a CAGR of 6.9% through 2034. Anticipated growth is set to propel the market to a size of US$ 1,653.7 million by 2034. The rapid growth of the electronic industry is expected to boost market demand.
The applications of metallic glass extend to various automotive components, such as gears, bearings, and pistons, owing to its exceptional strength and resistance to corrosion. These superior properties render metallic glass an ideal material for these specific automotive uses.
Metallic glass finds substantial application in the aerospace sector, particularly in critical components like turbine blades, landing gear, and structural elements. Its combination of high strength and lightweight properties positions metallic glass as an ideal material for these specific aerospace applications.
The biomedical industry is increasingly adopting metallic glass for various applications like implants, stents, and surgical tools. The exceptional biocompatibility and resistance to corrosion of metallic glass render it a preferred choice for these specific biomedical uses.
Key Market Growth Drivers
- The increasing demand for metallic glasses in various end-use industry boost the market demand.
- Improvements in manufacturing techniques, such as rapid solidification and alloy development, drive market demand
- Ongoing R&D efforts focused on discovering new compositions, enhancing properties, and refining production methods contribute significantly to market growth.
| Report Attributes | Details |
|---|---|
| Estimated Market Value (2024E) | US$ 927.4 million |
| Forecasted Market Value (2034F) | US$ 1,653.7 million |
| Global Market Growth Rate (2024 to 2034) | 6.9% CAGR |
| Metal-metal Segment Growth Rate (2024 to 2034) | 7.0% CAGR |
| Electrical & Electronic Products Segment Growth Rate (2024 to 2034) | 7.4% CAGR |
| North America Market Share (2024) | 25.8% |
| East Asia Market Share (2024) | 30.7% |
| Key Companies Profiled |
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Which Factor are boosting Global Demand for Metallic Glass?
“The Increased Demand for Consumer Electronics Significantly Drives the Metallic Glass Market”
Metallic glass, used in smartphones, laptops, and tablets, requires materials that are both lightweight and durable. Metallic glass has an attractive appearance that appeals to consumers. Its unique sheen and design potential make it desirable for electronic casings and components, enhancing the visual appeal of devices. Metallic glass's excellent corrosion resistance ensures the longevity and reliability of electronic devices.
With the trend toward smaller and more intricate devices, metallic glass's properties enable manufacturers to create smaller yet robust components with precision, meeting the demands of miniaturization in electronics.
Specific types of metallic glasses possess unique electrical or magnetic properties, making them suitable for specialized components like sensors, magnetic memory devices, or high-frequency transformers in consumer electronics.
“Sustainable Manufacturing Driving the Metallic Glass Market”
Metallic glass production techniques often involve efficient processes with lower energy requirements compared to traditional metal manufacturing, reducing the overall environmental footprint.
Metallic glasses can be recycled and reused, aligning with sustainability goals. The ability to recycle metallic glass reduces the demand for virgin materials and decreases the environmental burden associated with extraction and processing of raw materials.
Which Factors are Posing Challenge to Metallic Glass Market?
“High Expenses Associated with Production Process”
Current production methods for metallic glasses can be relatively expensive compared to traditional metals. Reducing production costs without compromising quality remains a challenge, hindering their competitiveness in some applications.
One of the primary challenges impeding the growth of the metallic glass market is the difficulty in scaling up production while maintaining consistent quality and cost-effectiveness. Achieving large-scale production without compromising the unique properties of metallic glasses poses a significant hurdle.
This challenge encompasses refining manufacturing processes, optimizing alloy compositions, and reducing production costs to make metallic glasses more competitive with traditional materials. Additionally, improving the formability and ductility of metallic glasses while retaining their desirable properties remains a key challenge for wider adoption across various industries.
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Country-wise Insights
The North America metallic glass market is poised for exceptional growth, projecting a CAGR of 6.2% through 2034. The surge is primarily attributed to increasing demand in key countries, notably the United States and Canada. In 2024, the United States dominates the metallic glass industry with an estimated 68.3% market share.
Meanwhile, the East Asia metallic glass market is anticipated to exhibit substantial progress, aiming for a 6.9% CAGR through 2034. In East Asia, China emerges as the key player in the metallic glass industry, commanding a significant share of 59.4% in 2024.
What is the Growth Scenario of the Metallic Glass Market in the United States?
“Rising Manufacturing Capabilities in the Country drive Market Demand”
| Attribute | United States |
|---|---|
| Market Value (2024) | US$ 163.4 million |
| Growth Rate (2024-2034) | 6.8% CAGR |
| Projected Value (2034) | US$ 316.5 million |
The United States is forecasted to hold 72.5% of the North American market share by the end of 2034. The rising demand for high-performance materials with superior properties in various industries has been a driving force behind the interest in metallic glasses in United States.
Industries like aerospace, automotive, consumer electronics, and healthcare, have been exploring the use of metallic glasses in different applications. The United States possesses advanced manufacturing capabilities and technological expertise, enabling the scaling up of metallic glass production.
Collaborations between research institutions, government bodies, and private companies have been fostering innovation and accelerating the development of metallic glasses in the country.
Government initiatives supporting technological innovation and the development of advanced materials contribute to the growth of the metallic glass industry in China. Funding, incentives, and policies aimed at promoting research and industrial applications have a positive impact on market expansion.
What is driving the Metallic Glass Market in China?
“Growing Electronic Industry to Boost the Metallic Glass Market Growth in China”.
| Attribute | China |
|---|---|
| Market Value (2024) | US$ 169.1 million |
| Growth Rate (2024-2034) | 6.6% CAGR |
| Projected Value (2034) | US$ 319.3 million |
China is forecasted to hold a 57.3% share of East Asia market revenue by 2034. Increased sales of metallic glass in China are attributed to substantial demand for metallic glass in smartphone casings, electronic components, and other gadgets. The country's thriving consumer electronics industry contributes significantly to the demand for high-performance materials like metallic glass.
The automotive industry in China has shown interest in adopting metallic glass for lightweight structural components, enhancing fuel efficiency and vehicle performance. The push for electric vehicles and advanced technologies in automobiles further propels the demand for innovative materials like metallic glass.
Category-wise Insights
Based on the material type, the metal-metal segment is estimated to hold a 63.1% market share in 2024. Simultaneously, the metal-metalloid segment is anticipated to secure a noteworthy 36.9% share, contributing significantly to the market growth.
Based on application, the electrical & electronic products segment marks its dominance in the metallic glass industry, with a share of 25.7% in 2024.
Which is the most Popular Material Type?
“High Demand Predicted For Metal-metal Segment”
| Attribute | Metal-Metal |
|---|---|
| Segment Value (2024) | US$ 585.2 million |
| Growth Rate (2024 to 2034) | 7.0% CAGR |
| Projected Value (2034) | US$ 1,048.4 million |
Based on material type, metal-metalsegment is forecasted to hold 63.4% of the metallic glass market share by 2034. The metal-metal segment within the metallic glass market is poised to secure a substantial share in revenue. This segment is anticipated to experience the highest compound annual growth rate (CAGR) due to several factors such as its extensive applications, swift processing capabilities, enhanced mechanical reliability, and superior workability.
As a result, the metal-metal segment is projected to emerge as the most appealing segment in terms of both market share and growth rate. Metal-metal metallic glasses offer a wide array of applications across various industries. Their versatility allows them to be utilized in consumer electronics, aerospace, automotive, healthcare, and more, contributing to a diverse market demand.
Which Application Utilizing Metallic Glass Contributes The Highest Revenue To The Market?
“Electrical & electronic products segment is Expected to Dominate Market.”
| Attribute | Electrical & Electronic Products |
|---|---|
| Segment Value (2024) | US$ 238.3 million |
| Growth Rate (2024 to 2034) | 7.4% CAGR |
| Projected Value (2034) | US$ 428.3 million |
The electrical & electronic products segment is predicted to occupy a 25.9% share of the global market by 2034. The electrical and electronic products segment is anticipated to claim a significant portion of the global metallic glass market and exhibit the highest growth rate. Metallic glass finds extensive application in a diverse range of electrical and electronic products.
The surge in the electronics industry, driven by rising consumer expenditure, amplifies the demand for metallic glass in consumer electronics. Additionally, the growing utilization of Advanced Magnetic Tape Drives (AMTDs) is poised to bolster this segment, thereby positively influencing the overall global metallic glass market.
Know thy Competitors
Competitive landscape highlights only certain players
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Competitive Landscape
Market players are investing in R&D to develop new compositions, improve manufacturing processes, and discover novel applications of metallic glasses. This strategy ensures innovation and keeps key players ahead in terms of technology and product offerings.
- Liquidmetal Technologies Inc. is known for its advancements in the development and commercialization of metallic glass alloys, Liquidmetal Technologies focuses on applications in various industries, including consumer electronics, medical devices, aerospace, and automotive. They have patented manufacturing processes and work on improving the properties and applications of metallic glasses.
- Materion Corporation specializes in advanced materials, including metallic glasses, and offers a range of high-performance alloys. They cater to industries such as aerospace, defense, telecommunications, and healthcare, providing customized solutions and advanced material expertise.
Key Players in the metallic glass market include Liquidmetal Technologies Inc., Materion Corporation,Amorphous Material Inc., Heraeus Holding GmbH, Hitachi Metals Ltd, SCHOTT AG, Toshiba Materials Co. Ltd, Miyou Group Co. Ltd, Metglas Inc. and Alloys International Inc.
Metallic Glass Market –Key Segments
-
By Material type:
- Metal-Metal
- Metal- metalloid
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By Application:
- Electrical & Electronic Products
- Magnetic Products
- Sensors & Measuring Instruments
- Others
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By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
- FAQs -
How big is the metallic glass market in 2024?
The global metallic glass market is expected to be valued at US$ 927.4 million in 2024.
What is the anticipated value for metallic glass market in 2034?
By 2034, the market value of metallic glass is expected to reach US$ 1,653.7 million.
What is the expected forecast CAGR for metallic glass market from 2024-2034?
From 2024-2034, metallic glass demand is likely to surge at a 6.9% CAGR
How opportunistic is the Chinese market for metallic glass?
China is expected to register a 6.6% CAGR with regard to the metallic glass industry
At what rate is the market in North America predicted to grow?
The North America market for metallic glass is forecasted to expand at a CAGR of 6.2% through 2034.
What portion of global market is East Asia projected to hold by 2034?
East Asia is forecasted to account for 6.9% share of global market by 2034.
Metallic Glass Market