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.

Read Report Overview: Bulk Metallic Glass Market

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.

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

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Key Questions Answered in this Report:

  • What are some of the major factors and trends that are impacting the bulk metallic glass market?
  • What are the success factors for the commercialization of bulk metallic glass?
  • Which is the most preferred type of bulk metallic glass (metal-metal or metal-metalloid) across end-use industries, and why?
  • How has COVID-19 impacted the bulk metallic glass market across the globe, and how are the players within the ecosystem improvising/innovating to mitigate the impact?
  • What are some restraining factors affecting the growth of the bulk metallic glass market?