Cobalt Based Amorphous Metal Ribbons Market Size, Share, Industry Analysis, Trends, Growth, 2030

Cobalt Based Amorphous Metal Ribbons Industry Prospective:

The global cobalt based amorphous metal ribbons market size was evaluated at $11 billion in 2022 and is slated to hit $15 billion by the end of 2030 with a CAGR of nearly 6.7% between 2023 and 2030.

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Cobalt Based Amorphous Metal Ribbons Market: Overview

Cobalt-based amorphous metal ribbons are a kind of metallic alloy ribbon that is generally made up of cobalt and a slew of elements such as silicon, iron, and boron. These ribbons exhibit exceptional features such as low coercivity, high magnetic permeability, and high saturation magnetization, thereby making them fit for applications in the production of high-performance magnetic parts. This includes use in transformers, inductors, magnetic sensors, and motors among other electrical and electronic devices.     

Key Insights

• As per the analysis shared by our research analyst, the cobalt based amorphous metal ribbons market is projected to expand annually at the annual growth rate of around 6.7% over the forecast timespan (2023-2030)
• In terms of revenue, the global cobalt based amorphous metal ribbons market size was evaluated at nearly $11 billion in 2022 and is expected to reach $15 billion by 2030.
• The global cobalt based amorphous metal ribbons market is anticipated to grow rapidly over the forecast timeline owing to a humungous preference for renewable energy sources such as solar panels and wind turbines.
• In terms of type, the 5mm-50mm segment is slated to register the highest CAGR over the forecast period.
• Based on application, the consumer electronics segment is expected to dominate the segmental growth in the upcoming years.
• Region-wise, the European cobalt based amorphous metal ribbons industry is projected to register the fastest CAGR during the assessment timeline.

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Cobalt Based Amorphous Metal Ribbons Market: Growth Factors

Huge demand for lightweight & effective parts to boost global market trends

Escalating demand for high-performance magnetic substances in a slew of end-use sectors will proliferate the global cobalt based amorphous metal ribbons market size in the years ahead. Humungous preference for renewable energy sources such as solar panels and wind turbines will boost the demand for electrical devices, thereby steering the growth of the market across the globe. In addition to this, technological breakthroughs and the introduction of new manufacturing processes will expedite the expansion of the market across the globe. A surge in the use of ribbons in the aerospace & automotive sectors will steer the global market expansion.

Additionally, the huge need for lightweight and highly proficient components will steer the size of the market across the globe. An increment in the highlight on energy-proficient and environment-friendly solutions in a spectrum of end-use sectors will embellish the global market surge. A surge in the penetration of products in power-efficient technologies such as smart grids and electric vehicles will promote global market trends. Launching of new products is predicted to contribute significantly towards the global market revenue in the years ahead. In October 2023, Alloy Enterprises, a key aluminum metal supplier, introduced aluminum cold plate parts. Such initiatives will bring a paradigm shift in the metal fabrication sector, thereby steering the global market expansion.  

Cobalt Based Amorphous Metal Ribbons Market: Restraints

Escalating product prices can decrease the expansion of the global industry by 2030

Huge costs of the product and growing concerns related to the impact of mechanical force on the product performance can restrict the expansion of the global cobalt based amorphous metal ribbons industry. In addition to this, issues pertaining to metal hardness can prove to be detrimental to the expansion of the global industry. The rise in the manufacture of polygrain substances produces a huge proportion of waste, thereby contributing majorly to the environmental pollution and this can hinder the global industry expansion.

Cobalt Based Amorphous Metal Ribbons Market: Opportunities

Escalating product penetration in the IoT devices to open new growth opportunities for the global market over 2023-2030

The growing use of products in the IoT equipment will generate new facets of growth for the global cobalt based amorphous metal ribbons market. A prominent rise in the popularity of thermal printers and the use of thermal transfer ribbons in these thermal printers will spearhead the growth of the market globally. Escalating demand for high-performance strength metals is anticipated to open new vistas of growth for the global market.  

Cobalt Based Amorphous Metal Ribbons Market: Challenges

Huge prices of amorphous metals can be a huge challenge for the global industry by 2030

The development of amorphous metals needs effective tools owing to hardness and pure alloy without integrating carbon and oxygen, thereby leading to escalating costs of amorphous metals. This, in turn, can prove to be a huge challenge to the expansion of the global cobalt based amorphous metal ribbons industry. Hazardous poly-based material used for producing heat transfer tapes is derived from crude petroleum products and this can result in the enhancement of mining activities, thereby affecting the use of cobalt based amorphous metal ribbons. This, in turn, can restrict the expansion of the industry across the globe.  

Cobalt Based Amorphous Metal Ribbons Market: Segmentation

The cobalt based amorphous metal ribbons market is sectored into type, application, and region.                            

In type terms, the cobalt based amorphous metal ribbons market across the globe is segregated into 5mm-50mm, 50mm-100mm, 142mm-213mm, and others segments. Furthermore, the 5mm-50mm segment, which acquired nearly 55% of the global market revenue in 2022, is predicted to accrue the highest gains over the forecast timeline. The expansion of the segment during 2023-2030 can be a result of the ability of the product of 5mm-50mm size to provide massive benefits along with its use in various end-use sectors.

Based on the application, the global cobalt based amorphous metal ribbons industry is sectored into the consumer electronics, electricity, aerospace, electric cars & high-speed rail, and industrial power segments. Additionally, the consumer electronics segment, which acquired a major chunk of the global industry share in 2022, is anticipated to lead the industry growth over the forecast timeframe. The segmental expansion over 2023-2030 can be owing to the rising demand for cobalt-based amorphous metal ribbons in consumer electronics products such as televisions, smartphones, and wearable equipment.

In addition to this, the escalating utility of the product in LED/LCD monitors, digital cameras, and flat-panel TV sets will further enlarge the scope of the segmental surge. An increase in the use of smart materials in consumer electronics goods owing to the durability and high impact resistance of the former along with low power consumption incurred due to the use of smart materials will prop up the demand for cobalt-based amorphous metal ribbons in the consumer electronics.     

Cobalt Based Amorphous Metal Ribbons Market: Report Scope

Cobalt Based Amorphous Metal Ribbons Market: Regional Insights

Asia-Pacific is predicted to retain its leading position in the global market over the analysis timeline

Asia-Pacific, which contributed about 53% of the global cobalt based amorphous metal ribbons market revenue in 2022, will be a dominating region over the forecast timeframe. Moreover, the regional market elevation over the forecasting timeline can be subject to humungous demand for ferrous amorphous metals in Japan, China, and India. Furthermore, rapid industrialization has led to surging demand for protective coatings, thereby embellishing the global market demand. A surge in spending on the production of a slew of electronic equipment and the humungous presence of amorphous metal vendors in Asian countries will proliferate the regional market size. In addition to this, escalating product penetration in end-use industries including aerospace, consumer electronics, and automotive will steer the growth of the market in the sub-continent.         

The European cobalt based amorphous metal ribbons industry is set to record the fastest CAGR in the upcoming years subject to large-scale product penetration in flourishing aerospace and automotive sectors in countries such as Germany, the UK, and France. In addition to this, a rise in the production and export of cobalt-based amorphous metal ribbons is likely to contribute majorly to the industry size in the continent. In January 2020, Heraeus Amloy Technologies GmbH, a division of Heraeus based in Germany, manufactured an amorphous metal guitar bridge by metal additive manufacturing. This move will proliferate the expansion of industry in the continent.   

Cobalt Based Amorphous Metal Ribbons Market: Competitive Space

The cobalt based amorphous metal ribbons market profiles key players such as:

• Qingdao Yunlu
• Hitachi Metal
• Zhaojing Incorporated
• Advanced Technology
• Henan Zhongyue
• Londerful New Material
• China Amorphous Technology
• Shenke
• Foshan Huaxin
• Orient Group 

The global cobalt based amorphous metal ribbons market is segmented as follows:

By Type

• 5mm-50mm
• 50mm-100mm
• 142mm-213mm
•  Others

By Application

• Consumer Electronics
• Electricity
• Aerospace
• Electric Cars & High-Speed Rail
• Industrial Power

By Region

• North America

  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa