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The amorphous metal cores market size is forecast to increase by USD 353.14 thousand, at a CAGR of 7.4% between 2023 and 2028. The market is witnessing significant growth due to the increasing investment in renewable energy systems, particularly in solar power and wind energy. The integration of these energy sources into the power grid necessitates the use of advanced transformers, such as liquid-filled transformers and dry-type transformers, to ensure efficient energy transfer. Amorphous metal cores, a non-crystal substance, offer several advantages over crystalline cores, including reduced hysteresis loss and improved magnetic induction. However, the high production costs associated with amorphous metal cores remain a challenge for market growth. This trend is expected to continue as the country focuses on reducing carbon emissions and increasing energy efficiency. To cater to this demand, manufacturers are investing in research and development to make amorphous metal cores more cost-effective and accessible.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD thousand" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The iron segment is estimated to witness significant growth during the forecast period. Amorphous metal cores, fabricated from metallic glass, are a significant type of magnetic core in the electrical and electronics industries. This material, which lacks a long-range ordered structure, boasts unique magnetic properties that make it highly sought-after. The market for amorphous metal cores is experiencing substantial growth due to various factors. One major driver is the increasing focus on energy efficiency within power distribution systems. Amorphous iron cores play a pivotal role in distribution transformers by minimizing eddy current losses, resulting from their superior magnetic properties.
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The iron segment was valued at USD 477,667.70 in 2018. The global transition to renewable energy and the development of smart grids have intensified the demand for these cores. In the US, the energy sector is integrating more renewable sources, necessitating upgrades to power infrastructure. Amorphous metal cores, with their ability to reduce energy losses and enhance overall system efficiency, are becoming essential components in wind farm applications. The demand for these cores is expected to continue growing, as the US and North America move towards a greener energy future.
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APAC is estimated to contribute 77% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In the APAC region, the market is experiencing notable expansion due to substantial infrastructure investments and escalating energy demands. The Energy sector in the Philippines, identified as a priority for infrastructure investment within the Indo-Pacific Economic Cooperation (IPEF) economies by the Coalition for Emerging Market Infrastructure Investment (CEMII), is anticipated to witness approximately USD500 billion in investments from 2024 to 2050. This investment is crucial for the country's successful transition to clean energy, as energy consumption in the Philippines is projected to grow by 3% annually until 2050. High-efficiency power transformers, which incorporate amorphous metal cores, play a pivotal role in attaining energy efficiency and sustainability objectives. These transformers are extensively utilized in various applications, including transformer applications, magnetic sensors, and electric motors. The market growth is further fueled by advancements in manufacturing technologies such as Suction Casting and Injection Molding, which are used in the production of Metalloid Alloys and Non-Metalloid Alloys that are essential in the fabrication of amorphous metal cores.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ventrex Energy Pvt. Ltd:- The company provides high-quality iron amorphous cores, which are essential components in transformers.
Technavio provides the ranking index for the top 20 companies along with insights on the market positioning of:
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Market structure |
Fragmented |
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YoY growth 2023-2024 |
6.0 |
Amorphous alloys, a non-crystalline substance, have gained significant attention in the electrical industry due to their unique magnetic properties. These alloys are primarily used in the production of amorphous metal cores, which are essential components in various electrical machineries. Iron cores, traditionally made of crystalline silicon steel, have been the norm in transformers for decades. However, the increasing focus on energy efficiency and environmental sustainability has led to the emergence of amorphous metal cores as a viable alternative. Transformers, a crucial part of power transmission infrastructure, are responsible for converting electrical energy from one form to another. The primary concern with transformers is the energy losses that occur during the process. These losses, including hysteresis loss due to magnetic induction, eddy current loss, and no load loss, contribute to substantial energy costs and CO2 emissions. Amorphous metal cores offer several advantages over their crystalline silicon steel counterparts. Their non-crystalline structure allows for ultra-rapid quenching, resulting in a homogeneous material with superior magnetic properties. This leads to reduced energy losses, making amorphous metal cores an energy-efficient solution for transformers. The application of amorphous metal cores extends beyond power transmission.
They are also used in advanced electrical transformers for renewable energy systems, smart grids, and electric cars. The smaller dimensions of these transformers, compared to traditional ones, further contribute to energy savings by reducing the overall size and weight of electrical equipment. Moreover, the use of amorphous metal cores contributes to a reduced carbon footprint. The energy savings from reduced losses translate to lower greenhouse gas emissions. Additionally, the production process for amorphous metal cores is more environmentally friendly than that of crystalline silicon steel. In conclusion, amorphous metal cores offer significant benefits in terms of energy efficiency and environmental sustainability. Their use in transformers and other electrical machineries can lead to substantial energy savings and reduced CO2 emissions. As the focus on renewable energy and sustainable power infrastructure continues to grow, the demand for energy-efficient solutions, such as amorphous metal cores, is expected to increase. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Investment in power and energy infrastructure is notably driving market growth. The market experiences significant growth due to escalating investments in power and energy infrastructure worldwide. With the Philippines projected to increase energy consumption by 3% annually until 2050, requiring approximately USD 500 billion for clean energy transition from 2024 to 2050, there is a pressing demand for advanced and energy-efficient power distribution systems. Amorphous metal cores, with their superior magnetic properties, are essential components in these systems, contributing to power transmission with minimal energy losses.
Similar investments are being made in other regions to enhance their power infrastructure, further fueling the market's growth. The Amorphous alloy's ability to reduce energy costs and CO2 emissions makes it a preferred choice for transformers and distribution applications. Thus, such factors are driving the growth of the market during the forecast period.
Increasing demand for energy-efficient transformers is the key trend in the market. The utilization of amorphous metal cores in energy distribution systems, particularly in renewable energy applications such as solar power and wind energy, is experiencing significant growth. These transformer cores, composed of non-crystalline metal alloys like iron, boron, silicon, and phosphorus, offer enhanced energy efficiency. Amorphous cores minimize hysteresis loss through magnetic induction, thereby improving transformer efficiency.
In April 2024, the US Department of Energy (DOE) implemented new energy efficiency standards for distribution transformers. These regulations, enacted under congressional mandate, aim to fortify the US power grid's resilience and efficiency. By 2029, these standards are projected to generate annual electricity savings of approximately USD 824 million for American utility companies and commercial and industrial entities. Thus, such trends will shape the growth of the market during the forecast period.
High production costs are the major challenge that affects the growth of the market. Amorphous metal cores exhibit superior magnetic properties that make them ideal for reducing electricity loss in electrical applications. However, their high production costs pose a significant barrier to their widespread adoption in the market. The manufacturing process of amorphous metal cores involves rapidly quenching molten metal alloys at extremely high cooling rates, which necessitates advanced equipment and precise control systems, resulting in substantial initial investments. Furthermore, the raw materials used in producing these cores, such as rare earth elements and high-purity metals, are expensive due to their scarcity and high demand.
The intricate ribbon-wound design and delicate handling during core assembly add to the labor expenses. Despite these challenges, the demand for energy-efficient solutions in electrification projects continues to drive the growth of the market. The use of these cores in transformers and electric motors can lead to significant energy savings, making them a cost-effective investment in the long run. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Amorphous alloys, a non-crystalline substance, have gained significant attention in the electrical industry due to their unique magnetic properties. These alloys, including amorphous metal cores, are increasingly being used in transformers to enhance energy efficiency and reduce Co2 emissions. Compared to traditional crystalline silicon steel cores, amorphous metal cores offer several advantages. They have a higher saturation magnetic flux, which allows for smaller transformer dimensions, and exhibit lower hysteresis and eddy current losses. Iron-based amorphous alloys are particularly suitable for transformer cores due to their high magnetic resistivity and low electrical resistivity. The non-crystalline structure of amorphous metal enables it to be rapidly quenched during production, resulting in a material with excellent magnetic properties. Transformers using amorphous metal cores are commonly used in power transmission and distribution systems, as well as in renewable energy systems such as wind farms and solar power.
The use of amorphous metal cores in energy-efficient solutions, including advanced electrical transformers and smart grids, is expected to grow as the world focuses on reducing electricity consumption and carbon footprint. Electrical machineries, including transformers, motors, and sensors, are essential components of power infrastructure. The adoption of amorphous metal cores in these applications can lead to significant energy savings and reduced electricity loss. The use of amorphous metal in transformer cores also contributes to the production of energy-efficient solutions for electric cars and other electrical equipment. Despite their advantages, the production of amorphous metal cores, such as through suction casting or injection molding, can be complex and costly. However, the benefits of using amorphous metal cores in transformers and other electrical applications far outweigh the production challenges. The future of power transmission and distribution systems lies in the adoption of energy-efficient solutions, and amorphous metal cores are set to play a crucial role in this transition.
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Market Scope |
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Report Coverage |
Details |
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Page number |
195 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.4% |
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Market Growth 2024-2028 |
USD 353.14 thousand |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 77% |
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Key countries |
China, India, Japan, US, South Korea, Singapore, Russia, Canada, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Acal BFi, Advanced Amorphous Tech, GAOTUNE TECHNOLOGIES Co. Ltd., Guangzhou Amorphous Electronic Technology Co ltd, Hill Technical Sales, JFE Shoji Power Canada Inc., KRYFS Power Components Ltd, Magmattec, Magnetic Metals Corp, MH and W International Corp., MK Magnetics Inc., Permanent Magnets Ltd., Power Core Industries, Proterial Ltd., Qingdao Yunlu Advanced Materials Technology Co. Ltd., Stanford Advanced Materials, SUNBOW GROUP, Transmart Industrial Ltd, Ventrex Energy Pvt. Ltd, and Wiltan |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, AI impact on market trends, COVID -19 impact and recovery analysis and future consumer dynamics, market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Application
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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