Bulk Metallic Glass Industry Overview
The global bulk metallic glass market is projected to reach $246.3 million by 2031 from $47.6 million in 2021, growing at a CAGR of 17.9% during the forecast period 2022-2031. The growth in the bulk metallic glass market is expected to be driven by the increasing usage from supporting industries such as electrical, electronics, and sports.
Market Lifecycle Stage
Bulk metallic glass (BMG) is a developing industry. Increased research and development activities are underway to increase the commercialization of bulk metallic glass. BMGs have found many wide and diverse applications in the electrical and electronics industry, from durable mobile phones to personal electronic devices such as MP3 players and personal digit assistants.
Booming product consumption in the electrical, electronics, and sports sectors is the chief factor augmenting the overall market growth. Additionally, BMGs have great potential in biomedical applications ranging from orthopedic and cardiovascular to dental implants and fillers. The U.S. has the largest industry for bulk metallic glass, as the country inhabits a healthy environment for technological developments and advancements.
Segmentation 1: by End-Use Application
• Consumer Electronics and Wearables
• Sporting Equipment
The bulk metallic glass market based on the end-use application segment is expected to be dominated by consumer electronics and wearables. This is due to the unique properties offered by BMGs coupled with a wide variety of technological advancements and intensive research to provide smaller consumer electronics items.
Segmentation 2: by Product Type
The bulk metallic glass market is dominated by the metal-metal product type. This is because these glasses offer higher structural strength and enable the material to be used in places with the requirement of high strength and good ductility. It also allows the structure to be magnetized, supporting them to be used broadly across various industrial industries.
Segmentation 3: by Technology Type
• Thermoplastic Forming
• 3D Printing
Casting technology type led the bulk metallic glass market in 2021 and is expected to dominate the market during the forecast period 2022-2031. As it is one of the most tested technologies to produce amorphous metals in huge quantities. Moreover, this technology is low-priced as compared to other technologies, such as thermoplastic forming.
Segmentation 4: by Region
• North America – U.S., Canada, and Mexico
• Europe – Germany, France, Italy, and Rest-of-Europe
• Asia-Pacific and Japan – China, Japan, South Korea, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World – South America and the Middle East and Africa
Asia-Pacific and Japan led the bulk metallic glass market in 2021, and it is anticipated to uphold its dominance throughout the forecast period.
Recent Developments in Bulk Metallic Glass Market
• In January 2021, Heraeus AMLOY, together with the University of Graz, started working on the development of the implants from the 3D printer. These 3D-manufactured amorphous implants are biocompatible and can be individually adapted to the patient’s physique.
• In January 2022, Liquidmetal Technologies, Inc., through its majority-owned subsidiary, Liquidmetal Golf, entered into a sub-license agreement with Amorphous Technologies Japan Inc. (ATJ), a newly formed Japanese entity established by Twins Corporation. ATJ will concentrate its efforts on creating golf clubs using Liquidmetal’s technology and marketing them across the globe, beginning in Japan, where golf is one of the most popular sports.
Demand – Drivers and Limitations
Following are the demand drivers for the bulk metallic glass market:
• Increasing Use from Supporting Industries Such as Electrical, Electronics, and Sports
• Ability to Cast into Centimeters Rather than Micrometers
The market is expected to face some limitations too due to the following challenges:
• Brittle Nature of Bulk Metallic Glass
• Complex Fabrication Process
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of bulk metallic glass available and their potential globally. Moreover, the study provides the reader with a detailed understanding of the different bulk metallic glass applications in consumer electronics and wearables, sporting equipment, biomedical, aerospace/defense, and others.
Growth/Marketing Strategy: The bulk metallic glass market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. For instance, in January 2022, Liquidmetal Technologies, Inc., through its majority-owned subsidiary, Liquidmetal Golf, entered into a sub-license agreement with Amorphous Technologies Japan (ATJ) Inc., a newly formed Japanese entity established by Twins Corporation. ATJ will concentrate its efforts on creating golf clubs using Liquidmetal’s technology and marketing them across the globe, beginning in Japan, where golf is one of the most popular sports.
Competitive Strategy: Key players in the bulk metallic glass market analyzed and profiled in the study involve bulk metallic glass manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the bulk metallic glass market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names in this market are:
• Adamant Namiki Precision Jewel Co., Ltd.
• RS ACCIAI S.r.l.
• Heraeus Holding
• Eutectix LLC
• Hitachi Metals, Ltd.
• Liquidmetal Technologies, Inc.
• Supercool Metals
• Dongguan Yihao Metal Material Technology Co., Ltd.
• PX Group
• Glassimetal Technology, Inc.
• Exmet Amorphous Technology AB
• Epson Atmix Corporation
• Zhaojing Technology Co., Ltd.
• Qingdao Yunlu Advanced Materials Technology Co., Ltd.