Metallic Glass Market Forecast to 2026 | Trends and Growth Dynamics

According to Global Market Insights, Inc. report, metallic glass market size is projected to exceed USD 2.08 billion by 2026 attributing to below mentioned trends:

Global market metallic glass is poised to register a commendable growth over the ensuing years owing to enormous technological advancements due to nano engineering and sophisticated screening methods coupled with increasing product applications in aerospace & defense, medical and sports industries.

Additionally, usage of metallic glasses in applications involving high temperature along with enhanced material technology and manufacturing methods has also stimulated  the market growth. Quoting an instance, in 2020, Hitachi metals developed a Fe-based amorphous alloy MaDC-A using magnetic domain control technology. Further, the company has made claims  that the product would enhance the efficiency of the distribution transformers by providing high flux density and 25% less core loss than conventional products. Reportedly, this new product will help the company offer a better solution to their customers in light  of stringent government regulations regarding energy efficiency standards of distribution transformers.

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Increasing popularity of metal-metal type of metallic glass

Metal-metal product segment will register significant gains of over USD 1.3 billion by 2026 considering the increasing product demand owing to  its high ductility and superior strength. Various companies and organizations have been conducting several research activities to bring forth new applications of metal-metal type of metallic glass.

According to a research conducted at Yale School of Medicine, bulk metallic glasses can find vital usage in medical implants as they are non-toxic and resistant to corrosion and wear which makes them suitable to dwell inside the body. Moreover, the study states that these metallic glasses are elastic enough to change and regain its form with ease.

Accelerating demand from aerospace & defense sector

Aerospace & defense segment is anticipated to record over 11% CAGR over the analysis timeframe owing to the excellent mechanical and chemical properties of metallic glass. Further, the ability of metallic glass to be cast at much lower cooling rates and the wide range of compositions it provides have made it suitable for extensive application in aerospace industry.

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Growing research activities in North America

North America region is projected to account for 30% market share by 2026 attributing to significant rise in research & development activities for widening the application range of amorphous metal. For instance, in 2018, a study conducted by North Carolina State University had demonstrated the ability to create metallic glass or amorphous metal using 3D printing technology.

According to the research findings, this technology is suitable for the development of enhanced wear-resistant materials, efficient electric motors, light-weight structures and higher strength materials. This technology will undeniably open new growth avenues for regional metallic glass industry.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.