The amorphous metal cores market is expanding with a steady Compound Annual Growth Rate (CAGR) of 7.5% anticipated from 2022 to 2032. This trajectory signals a significant uptick from its 2022 value of US$ 781.6 million to a notable US$ 1,610.90 million by 2032.
The escalating demand for amorphous metal cores stems from their profound impact on augmenting the efficiency and sustainability of power transmission systems. By integrating amorphous alloys into the iron core of transformers, these cores play a pivotal role in curtailing energy consumption and operational expenditures. Beyond financial advantages, the embrace of amorphous metal cores underscores a steadfast dedication to environmental stewardship.
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One of the standout attributes of amorphous alloys is their exceptional ability to significantly reduce energy costs. In power transformers, these alloys offer superior magnetic properties, resulting in reduced energy loss during electrical conversion. This translates into less electricity being wasted as heat, ultimately leading to lower operational expenses for power transmission equipment manufacturers. In a world where energy efficiency is not only a cost-saving measure but also an environmental imperative, amorphous metal cores are emerging as indispensable contributors to a sustainable and responsible power transmission future.
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.
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Key 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.
Key Segments Covered:
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
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