Amorphous Iron (Fe Amorphous) Market: Opportunity Analysis and Industry Forecast upto 2027

Definition

Amorphous iron, which is predominantly known as Fe amorphous, is an iron alloy in a state which has disproportionate or disorderly atomic structure. Amorphous iron has good electric conductivity and magnetic properties, as a result of which amorphous iron or Fe amorphous is commonly used as a magnetic material in a variety of end-use applications. Amorphous iron can be obtained in the form of a thin foil or ribbon.

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Note: This study mainly focuses on the applications of amorphous iron or Fe amorphous in generators, transformers, motors, and inductors. Thereby, the mention of amorphous iron or Fe amorphous across the document refers to it as a magnetic material.

Key Developments in the Amorphous Iron (Fe Amorphous) Market

• Hitachi Metals, Ltd., a Japanese player in the amorphous iron (Fe amorphous) market, has been successful at developing the latest technology that enables using amorphous metals, including amorphous iron, as a magnetic materials with a higher rate of efficiency. The company recently announced that its prototype of amorphous metal motor with the core structure manufacturing using the technology could achieve 92.7% efficiency, reaching the IE5 class level (International Efficiency standard).

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• Höganäs AB, a Swedish multinational player in the amorphous iron (Fe amorphous) market, recently acquired 100% shares of Alvier PM-Technology, a Swiss company that develops and supplies tooling solutions for powder metallurgy (PM). With this acquisition, the company aims to develop innovative electromagnetic as well as mechanical automotive applications by leveraging Alvier’s expertise in PM and Soft Magnetic Composite (SMC) tooling solutions.
• Rio Tinto Group, an Anglo-Australian metals and mining corporation, recently announced its plans to invest in iron ore mines and deliver premium iron ore product. The company announced that it is following a ‘value over volume approach’ and aims to utilize an increased level of automation and digitization. The company is planning to invest US$ 1.55 billion, with joint venture partners Nippon Steel & Sumitomo Metal Corporation and Mitsui & Co., to sustain Pilbara iron ore production capacity. Followed by this announcement, the company declared the approval of an investment of over US$ 2.6 billion in the Koodaideri iron ore mine in Western Australia.

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The Fact.MR report provides comprehensive information about competitive environment and company developments in the amorphous iron (Fe amorphous) market. The report provides key financials and information on winning strategies of amorphous iron (Fe amorphous) market players including GKN plc. (Hoeganaes Corporation), Rio Tinto PLC, Höganäs AB, Voestalpine Stahl GmbH, Hitachi Metals Ltd, Toshiba Corp (Toshiba Materials Co., Ltd.), Sumitomo Metal Mining Co., Ltd., VACUUMSCHMELZE GmbH & Co. KG, PMG Holding GmbH, and Hengdian Group DMEGC Magnetics Co., Ltd.

End-users Turn to Amorphous Iron to Reduce Dependency on Rare-earth Magnets

Due to rising protectionist measures and trade wars concerning the exports of rare-earth magnets, a majority of industry players had been facing challenges associated with raw material supply for manufacturing magnetic materials. However, most end-users are finding ways to reduce their dependence on rare-earth magnets by shifting to amorphous iron as a magnetic material.

Especially in the U.S., a large percentage of electric motor manufacturers are shifting to amorphous iron since the U.S. government has imposed a ban on imports of rare earth magnets from China. Thereby, motor manufacturers and other industry players are finding ways to diversify their sources of magnetic materials, and this is expected to create numerous opportunities for players in the amorphous iron (Fe amorphous) market.