BANGALORE, India, Oct. 16, 2024 /PRNewswire/ -- Amorphous and Nanocrystalline Core Market is Segmented by Type (Fe Based, Iron Nickel Based, Cobalt Based, Other), by Application (Automobile, Photovoltaic Wind Power, Home Appliances, Computers and Office Equipment, Communications, Industrial and Medical Instruments, Other): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The global Amorphous and Nanocrystalline Core market was valued at USD 237 Million in 2023 and is anticipated to reach USD 804.9 Million by 2030, witnessing a CAGR of 19.1% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Amorphous and Nanocrystalline Core Market:
The Amorphous and Nanocrystalline Core Market is poised for strong growth, driven by increasing demand for energy-efficient materials across various industries. The shift towards renewable energy, electric vehicles, and smart grid technology is expected to further boost market expansion. Additionally, advancements in industrial machinery and consumer electronics will continue to drive the demand for these advanced materials. As energy efficiency becomes a global priority, the market for amorphous and nanocrystalline cores is expected to experience sustained growth in the coming years.
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TRENDS INFLUENCING THE GROWTH OF THE AMORPHOUS AND NANOCRYSTALLINE CORE MARKET
Iron-based (Fe-based) cores are key to the growth of the Amorphous and Nanocrystalline Core Market. These materials offer superior magnetic properties, such as reduced core losses and high energy efficiency, making them ideal for applications in transformers and other power-related equipment. Fe-based cores are particularly valuable in reducing energy consumption in electrical systems, thus contributing to environmental sustainability. As industries continue to focus on energy efficiency, the demand for amorphous and nanocrystalline cores is expected to rise, driving market growth.
The automobile industry is playing a crucial role in driving the growth of the Amorphous and Nanocrystalline Core Market. With the increasing adoption of electric vehicles (EVs), the demand for energy-efficient components such as transformers and inductors made from amorphous and nanocrystalline cores has surged. These materials help in reducing energy losses in the electrical systems of EVs, improving their overall performance and energy efficiency. As the automotive industry shifts towards electrification, the demand for these advanced materials is expected to grow, contributing to the expansion of the market.
The growing focus on renewable energy sources, particularly photovoltaic (solar) and wind power, is driving the demand for amorphous and nanocrystalline cores. These materials are used in transformers and other power conditioning equipment that are essential for efficient energy conversion in renewable energy systems. The superior performance of amorphous and nanocrystalline cores in reducing core losses and improving energy efficiency makes them ideal for use in solar inverters and wind power systems. As investments in renewable energy infrastructure continue to rise, the demand for these advanced cores will increase, further driving market growth.
Governments and regulatory bodies across the world are implementing stringent energy efficiency regulations, particularly in the industrial and power sectors. These regulations mandate the use of energy-efficient materials, such as amorphous and nanocrystalline cores, in transformers and electrical systems. Compliance with these regulations is driving the adoption of these advanced materials in various industries, as companies seek to reduce energy consumption and carbon emissions. The growing emphasis on energy conservation is a major factor driving the growth of the Amorphous and Nanocrystalline Core Market.
The expansion of power transmission and distribution networks, especially in developing regions, is creating a significant demand for amorphous and nanocrystalline cores. These materials are used in transformers that are essential for efficient power transmission. As countries invest in upgrading their electrical infrastructure to meet the growing demand for electricity, the need for energy-efficient transformers and inductors made from amorphous and nanocrystalline cores is expected to rise. This is a key factor driving market growth.
The telecommunications sector is another key driver of the Amorphous and Nanocrystalline Core Market. As the demand for high-speed internet and 5G networks increases, the need for energy-efficient transformers and power conditioning equipment also grows. Amorphous and nanocrystalline cores offer superior performance in reducing energy losses in telecom equipment, making them ideal for use in this sector. The expansion of global telecom networks is expected to drive the demand for these materials, contributing to market growth.
The development of smart grid technology is another factor driving the growth of the Amorphous and Nanocrystalline Core Market. Smart grids require highly efficient transformers and power conditioning equipment to manage electricity flow and improve energy efficiency. Amorphous and nanocrystalline cores are ideal for these applications due to their superior magnetic properties and low energy losses. As investments in smart grid infrastructure increase, the demand for these advanced cores is expected to rise, fueling market growth.
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AMORPHOUS AND NANOCRYSTALLINE CORE MARKET SHARE ANALYSIS
The Amorphous and Nanocrystalline Core Market is experiencing significant growth across different regions. In North America and Europe, the market is driven by stringent energy efficiency regulations and the adoption of renewable energy sources. In Asia-Pacific, rapid industrialization, urbanization, and the expansion of renewable energy infrastructure are fueling demand. Developing regions like Latin America and Africa are also witnessing growth, although at a slower pace, as they invest in upgrading their power transmission networks and renewable energy projects.
Key Players:
- Hitachi Metals
- AT&M
- Henan Zhongyue amorphous new materials
- Londerful New Material Technology
- MAGNETICS
- Vacuumschmelze Inc
- Qingdao Yunlu Advanced Materials
- Catech
- Zhejiang Zhaojing Electrical Technology
- Genhwa
- Shenke Group
- DAWHA
- Dayou Scientfic&Technical
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- The global market for Amorphous and Nanocrystalline Soft Magnetic Materials was estimated to be worth USD 639 Million in 2023 and is forecast to a readjusted size of USD 1336.2 Million by 2030 with a CAGR of 10.5% during the forecast period 2024-2030.
- Amorphous E-Type Core Market
- The global Amorphous Core Transformers market is projected to grow from USD 1282.7 Million in 2024 to USD 1307.5 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 0.3% during the forecast period.
- Amorphous Metal Market
- The global Nanocrystalline Soft Magnetic Material revenue was USD 338.5 Million in 2022 and is forecast to a readjusted size of USD 713.9 Million by 2029 with a CAGR of 10.9% during the forecast period (2023-2029).
- The global Nanocrystalline Cores market was valued at USD 458 Million in 2023 and is anticipated to reach USD 1015 Million by 2030, witnessing a CAGR of 12.2% during the forecast period 2024-2030.
- The global Amorphous Metal Cores market is projected to grow from USD 895.8 Million in 2024 to USD 1299.7 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period.
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