Growth in the bulk metallic glass (BMG) market, also known as bulk amorphous alloys or amorphous metals market, is being driven by the rise in demand for biomaterials for biomedical applications, increasing use from supporting industries, and ongoing research in the area of 3D printing of amorphous metals. Bulk metallic glasses are fundamentally different from traditional amorphous alloys, which are often formed at very high cooling rates to suppress the nucleation of crystalline phases. Bulk metallic glasses are designed at minor critical cooling rates. The high cooling rates required for the formation of conventional glassy alloys limit the range of possible structures that can be prepared into powder, ribbons, and films. Out of the extensive family of glasses, BMGs are probably the newest, possessing a number of characteristics, such as amorphicity and high strength.
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.
Additionally, ongoing research to develop bulk metallic glass gear has led to a surge in demand for bulk metallic glass. Countries, such as the U.S., are focused on developing special gearboxes that can operate in harsh environments, owing to their unique mechanical properties. For instance, NASA’s project - “Bulk Metallic Glass Gear” (BMGG) - is building technologies that could be the nuts and bolts of the project to explore destinations all over the solar system, from the Moon to Mars to the icy planets, such as Jupiter’s moon, Europa.
Among different end-use applications of the bulk metallic glass, the consumer electronics and wearables segment is expected to be the largest end-use application segment during the forecast period 2022-2031. The BMGs with unique mechanical properties such as high hardness, high strength, resistant to corrosion, and others have legitimate applications in consumer electronics and wearables. Also, the growing demand from different end-use markets, such as sporting equipment, biomedical, and aerospace/defense, is attributed to increasing bulk metallic glass usage. Furthermore, increasing research activities to develop cost-effective bulk metallic glass also fuels the growth of the given end-use application.
Among different product types, metal-metal led the market in 2021 and is estimated to lead the market during the forecast period 2022-2031. It is a widely utilized BMG, owing to its benefits over metal-metalloid, including its high glass forming ability and higher structural strength. This bulk metallic glass is mostly found in medicinal, wearable, micro-components, and micromechanics.
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Among different technology types, casting led the market in 2021 and is estimated to lead the market during the forecast period 2022-2031. It is one of the most tested technologies to produce amorphous metals in huge quantities. However, this technology does not allow the production of large-size components. Other technologies, such as thermoplastic forming and 3D printing, are the future of the bulk metallic glass market.
Asia-Pacific and Japan led the bulk metallic glass market in 2021, and it is anticipated to uphold its dominance throughout the forecast period. The region’s supremacy can be attributed to the increased usage of bulk metallic glass in the consumer electronics and wearables industries. Moreover, due to a strong emphasis on research and development activities, a well-established, tightly knit supply chain, and the tremendous expansion in emerging end-use markets, the region also maintains a significant share in the bulk metallic glass industry in terms of revenue creation.
Scope of the Study
According to the market study conducted by BIS Research, “bulk metallic glass (BMG) is defined as a new class of solid non-crystalline materials, including amorphous metals.” BMG exhibits excellent glass-forming ability and could be made up to thicknesses of more than 1 mm. Its high strength and stiffness, combined with a surprising elasticity, make it the protagonist of industrial innovation. Bulk metallic glass offers numerous advantages, such as:
- High resistance to yield
- Flexibility at high temperature
- Corrosion resistance
- Biocompatibility
- Hardness comparable to hardened steel
In this report, the bulk metallic glass market has been analyzed in terms of value ($million) and volume (Tons) from 2021 to 2031. The market segmentation has been considered by product type (metal-metal and metal-metal-metalloid), by technology type (casting, thermoplastic forming, and 3D printing), and by end-use application (consumer electronics and wearables, sporting equipment, biomedical, aerospace/defense, and others). Metallic glass with a section thickness of less than 1mm has been excluded from the report because it cannot be considered bulk metallic glass.
The global sand blasting machine market is expected to witness significant growth over the forecast period.
Request a Sample PDF Copy of This Report @ https://www.millioninsights.com/industry-reports/sand-blasting-machines-market/request-sample The key driving factors responsible for the growth of Sand Blasting Machines market : The scope of sand blasting has been increasingly widened due to the adoption of robotic blasting techniques.
These techniques are becoming very attractive for applications that require high levels of quality control, part complexities and complex system requirements that would not normally be possible by traditional or standard automation system solutions.
Furthermore, another factor that is expected to propel the market in the next eight years is the increasing demand for sand blasting machines from the automotive, construction and aerospace sectors.
Moreover, the use of metallic grits and shots as abrasives in shot blasting machines are gaining popularity and are readily replacing traditional and blasting machines for various applications in order to protect users from contracting lung diseases.
This market incorporates significant opportunities over the forecast period for manufacturers to invest in research and development activities, so as to come out with machines that not only guarantee the safety of the operator but also work as efficiently and effectively.
