Amorphous Soft Magnetic Materials Market to Exhibit 4.7% CAGR till 2027; High Demand for Medical Equipment amid COVID-19 will Boost Growth

The global amorphous soft magnetic materials market size is projected to reach USD 728.5 million by 2027. It is anticipated to gain impetus from the increasing demand for medical equipment worldwide on account of the COVID-19 pandemic. These soft magnetic materials help in achieving product standards. Fortune Business Insights™ provided this information in a new report, titled, “Amorphous Soft Magnetic Materials Market Size, Share & COVID-19 Impact Analysis, By Application (Electronic Article Surveillance, Flexible Antenna, Magnetic Sensors, Magnetic Shielding, Transformers, and Others), and Regional Forecast, 2020-2027.” The report further states that the market stood at USD 522.4 million in 2019. But, it is set to exhibit a CAGR of 4.7% during the forecast period between 2020 to 2027.

Metglas Inc. Introduces Amorphous Metal Transformer Core Product

In June 2020, Metglas Inc., a producer of amorphous metal ribbon headquartered in South Carolina, commercially unveiled its latest ‘Amorphous Metal Transformer Core’ product. It will be able to fulfil and exceed the consumer’s requirements of the distribution transformer. Made in the U.S., the new product possesses Metglas® 2605HB1M transformer core alloy. It is a high permeability, low loss alloy that can be very efficient in a wide range of applications, such as distribution, industrial, and commercial works.

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https://www.fortunebusinessinsights.com/amorphous-soft-magnetic-materials-market-103526

High Demand from Industrial Consumers will Accelerate Growth

Amorphous soft magnetic materials have multiple beneficial properties, such as several hysteresis loops, flux density, surging operational temperatures, lower core losses at higher frequencies, excellent corrosion resistance, high range of permeability, core volume & weight reduction ability, versatility, low coercive field, and good mechanical strength. Hence, they are mainly preferred for numerous electrical & electronics applications. Apart from that, this type of soft magnetic materials are being used by industrial consumers as they reduce operating costs, save energy, and provide smooth performances.

However, the usage of various substitute materials, such as iron/powder core, CO-Fe, Ni-Fe, soft ferrites, non-oriented electrical, and grain-oriented electrical steel may obstruct the amorphous soft magnetic materials market growth soon.

Key Players Focus on Introducing State-of-the-art Products to Strengthen Their Positions

The market for amorphous soft magnetic materials is highly fragmented with the presence of several organizations. As the need for technologically advanced materials is surging rapidly because of the evolution of technologies, these organizations are developing new fabrication methods. Hence, there is a rat race amongst them to gain a competitive edge.

Fortune Business Insights™ presents a list of all the renowned amorphous soft magnetic materials producers operating in the market. They are as follows:

• Hitachi Metals, Ltd. (Tokyo, Japan)
• VACUUMSCHMELZE GmbH Co KG (Hanau, Germany)
• CHINA AMORPHOUS TECHNOLOGY CO., LTD. (Guangdong, China)
• BOMATECH (Höri, Switzerland)
• Toshiba Materials Co., Ltd. (Yokohama, Japan)
• AMES SA (Barcelona, Spain)
• Advanced Technology & Materials Co., Ltd. (Beijing, China)
• MK Magnetics Inc. (California, U.S.)

A Notable Industry Development-

• January 2018: Hitachi Metals, Ltd. recently developed MaDC-A™, a magnetic domain control type Fe-based amorphous metal. It is infused with Metglas®. The product is capable of providing high efficiency to distribution transformers. At the same time, it enables a high flux density. Unlike the conventional products, MaDC-A™ has around 25% lower core loss.

Further Report Findings-

• In 2019, Asia Pacific generated USD 286.1 million in terms of revenue and is set to dominate throughout the forthcoming years. This growth is attributable to the rising adoption of electric vehicles (EVs) in China.
• Europe is expected to remain in the second position fueled by the rising production and consumption of electronics products in Germany.
• Based on application, the transformers segment procured 55.9% in 2019 in terms of amorphous soft magnetic materials market share. It is likely to occur because of the extensive usage of amorphous alloys for the manufacturing of their magnetic cores.

The global market in the following way: