Transmission and distribution losses in the Asia Pacific region range between 2.8% and 15.6% of total energy consumption. There is significant potential to save energy and reduce costs and carbon emissions through an increase in distribution transformer efficiency, as approximately one-third of transmission and distribution losses take place in distribution transformers,. In this situation, amorphous metal core transformers (AMTDs) are preferred as they are more efficient as compared to other transformers. Increasing awareness for energy conservation is expected to push the demand for AMTDs, and thereby positively impact the expansion of the metallic glass market size.
Growth in Research & Development Activities Aiding Market Growth
Manufacturers in the metallic glass market are continuously engaged in research & development activities to develop new applications of metallic glass. Metallic glass used in aerospace and sports & leisure industries is growing significantly, owing to its physical and mechanical properties. With increasing applications, the metallic glass market is expected to grow at a decent pace in the future.
Rising Investments in Electronic Manufacturing Surging Sales
The electronics industry is one of the most dynamic sectors of the economy. Rapid surge in the growth of the electronics industry has led to dramatic changes in investments in the electronics manufacturing industry. The ASEAN region has greatly benefited from the electronics industry by integrating production networks, which foster enhanced trade with larger Asian economies such as China. However, China plays an essential role in the Asian electronics industry, not as a competitor but as a growing market. China is a product assembly base, and imports various components and parts from several Asian countries, and exports worldwide. For instance, in January 2016, China’s Ministry of Industry and Information Technology, in partnership with an industry group and Ping An Bank, set up a US$ 30 Bn fund for the electronics industry in the country. This fund helps in addressing issues faced by small and medium electronic manufacturers that have folded recently. This fund has also expanded the country’s technology capabilities and supports its significant electronics supply chain.
Unfair Trade Practices and Trade Barriers to Impact Market Growth
China has imposed antidumping duty on Japanese and U.S. metallic glass suppliers for sales in the country, and is supplying low cost metallic glass to the U.S. market. This has forced manufacturers in the U.S. metallic glass market to lower production and cut prices significantly to sustain the competition. This factor has impacted the global prices of metallic glass, which, in turn, is expected to hamper the market in the future.
Metallic Glass Market: Structure Analysis
Tier-1 players account for around 25%- 30% of the global metallic glass market share, which is a consolidated space. Key participants in the global metallic glass market are Hitachi (Metglas), Shanghai Antai Zighao Amorphous Metals, Materion Corporation, Usha Amorphous Metal, Adamant Namiki Precision Jewel Co., Ltd., Qingdao Yunlu Energy Technology Co., Ltd., Heraeus Group, Epson Atmix Corp, RS Alloys, Eutectix, and others. To gain a competitive advantage in the industry, market participants are investing more in R&D activities to launch new products.
COVID-19 Impact on Metallic Glass Market
The COVID-19 pandemic has affected almost all sectors and countries around the globe, as a result of lockdowns, trade restrictions, and suspension of import-export activities. The electrical & electronics industry is expected to witness a decline during the pandemic, owing to disruptions in the supply chain, at least during 2020-2021. As such, demand for metallic glass will take a hit in the same time period.
The global metallic glass market is estimated to witness substantial growth, owing to increasing usage in the electrical & electronics industry, where it can be used as a core or case or for other applications. North America is anticipated to account for less than one-third of the global metallic glass market in 2020. The electrical & electronic products segment is estimated to hold more than three-fourth of the market share, and is projected to dominate the market over the forecast period.
Metallic Glass Market - Scope of the Report
Persistence Market Research (PMR) recently published a report on the global metallic glass market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the metallic glass market structure. This market research report presents exclusive facts and figures about how the metallic glass market will grow over the forecast period of 2020 to 2030.
Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the metallic glass market over the forecast period.
The study is relevant for stakeholders in the metallic glass market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the metallic glass market can leverage the information and statistics presented in PMR’s research report.
The report includes facts and figures related to the macro- as well as micro-economic factors that are impacting the growth of the metallic glass market. The study also offers actionable insights based on the future trends in the metallic glass market. Furthermore, regional players and new entrants in the metallic glass market can also use the information presented in this report to make business decisions and gain momentum in the market.
Key Segments of Metallic Glass Market
PMR’s study on the metallic glass market is divided into three significant segments- material, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
Key Questions Answered in PMR’s Metallic Glass Market Report
Metallic Glass Market: Research Methodology
In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the metallic glass market and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by analysts to ensure the precision and reliability of the conclusions.
Secondary resources are referred to by analysts during the evaluation of the metallic glass market, which comprise facts and figures from the World Bank, IMF, US Energy Information Administration, International Energy Agency, local & regional government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, engineering managers, and production managers to provide insightful information.
Comprehensive information acquired from primary and secondary resources is validated from companies operating in the metallic glass market to make PMR’s projections on the growth prospects of the market more accurate and reliable.