Amorphous Metal Cores Market
The Amorphous Metal Cores Market has witnessed remarkable growth in recent years, driven by the increasing demand for high-performance transformers across various industries. These cores, also known as vitreous metals, boast a unique glassy or non-crystalline appearance, which sets them apart from traditional metallic cores. One of their key advantages lies in their low electrical conductivity, which effectively reduces eddy currents within the core body.
The market for amorphous metal cores is expected to grow at a 7.5% CAGR from 2022 to 2032, rising from US$ 781.6 Million in 2022 to US$ 1610.90 Million by 2032. The amorphous metal cores market is expected to show promising growth prospects between 2022 and 2032.
Amorphous metal cores, also known as vitreous metals, have a glassy or non-crystalline appearance. High-performance transformers are built with amorphous metal cores. Low conductivity of amorphous metal cores aids in the reduction of eddy currents in the core body. Because amorphous metal cores lack anisotropic properties, they exhibit excellent magnetic behaviour, such as low iron loss and high saturation magnetic flux density with high permeability.
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Distribution transformers typically use amorphous metal cores. In terms of end use, amorphous metal cores are commonly preferred in renewable energy systems such as solar power and wind energy because they typically operate with low load conditions ranging from 20 to 40%. For more than 20 years, amorphous metal cores have been used in liquid-filled transformers, and this technology is now becoming popular in dry type transformers as well.
Amorphous Metal Cores Market: Dynamics
The amorphous alloy in the iron core of transformer significantly reduces energy costs and helps increase electrical characteristics while reducing the level of CO2 emissions. Power transmission equipment manufacturers today are searching for a technology that saves energy and reduces their operating cost. This has encouraged amorphous metal cores manufacturers to develop optimized and energy efficient products for use in distribution transformers. Normally, 10% of total electricity generated by an electric company is lost during the distribution and transmission process. Thus, distribution transformers consisting of amorphous metal cores help save a significant amount of energy and cost. Other uses that benefit from amorphous metal cores include output filter chokes in large Switched-Mode Power Supply (SMPS), power factor correction chokes in UPS systems and high-power lamp ballasts.
The initial costs of amorphous metal cores are relatively higher as compared to crystalline silicon steel owing to certain beneficial properties such as lower saturation magnetic flux density of amorphous steel than that of silicon steel, which is mostly preferred by transformer manufacturers. This results in high cost per unit of large sized amorphous core transformers. Although, it’s increased energy efficiency and low operational costs throughout the lifetime of transformer, could help compensate its high initial costs. Therefore, despite of high costs, the above mentioned factors are estimated to boost the market demand for amorphous metal cores in the coming years.
On the flip side, amorphous metal cores shows various limitations which may curb the market growth. Hardness along with reduced thickness makes slitting and shearing difficult. Moreover, the brittleness property of amorphous metal cores has also made it un-friendly to the transformer manufacturers. Due to these limitations, the amorphous metal core technology has been limited at present to very few customers across geographies.
Amorphous Metal Cores: Regional Market Outlook
With U.S. agreeing to expand the production of amorphous metal core transformers in order to achieve efficient distribution transmission of electricity, the global amorphous metal cores market is projected to witness lucrative growth opportunities in North America. In addition, since U.S. has the highest per capita electricity consumption ratio in the world, government and utility companies are taking various initiatives to introduce energy efficient transforming solutions, which is estimated to accelerate the growth of amorphous metal cores market during the forecast period.
Moreover, regions such as East Asia and South Asia are also estimated to witness lackluster growth driven by major installations of amorphous metal core transformers in India and China. The recent electrification projects are heavily investing in energy efficient technology which is expected to drive the growth for amorphous metal cores market over the slated time period.
The European countries are also facing an upsurge in the amorphous metal cores market. For instance, Spanish utility companies have started to import the amorphous metal core transformers and is also promoting in-house manufacturing of the same with local manufacturers.
Amorphous Metal Cores: Market Key Players
Some of the prominent market participants in the global amorphous metal cores market include the following players:
- Hitachi, Ltd.
- Advanced Technology Materials Co., Ltd.
- Zhaojing Incorporated
- Qingdao Yunlu New Energy Technology Co., Ltd.
- China Amorphous Technology Co.,Ltd
- ENPAY
- Mangal Electrical Industries Pvt. Ltd.
- KOTSONS Pvt. Ltd.
- Usha Amorphous Metals Ltd.
- Ti-Electronic
The amorphous metal cores research report presents a comprehensive assessment of the amorphous metal cores market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The amorphous metal cores research report provides analysis and information according to market segments, such as geographies, application, and industry.
The Amorphous Metal Cores report covers exhaustive analysis on:
- Amorphous Metal Cores Market Segments
- Amorphous Metal Cores Market Dynamics
- Amorphous Metal Cores Market Size
- Amorphous Metal Cores Supply Demand
- Current Trends/Issues/Challenges in the Amorphous Metal Cores Market
- Competition Companies involved in the Amorphous Metal Cores Market
- Amorphous Metal Cores Technology
- Value Chain of the Amorphous Metal Cores Market
Key Segments Profiled in Amorphous Metal Cores Market
By Product Type:
- E Core
- C Core
- Others
By Application:
- Iron Based
- Cobalt Based
By End Use:
- Invertors
- Transformers
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Japan
- Middle East Africa
