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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.
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).
- 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.
The FactMR 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.
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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.
Use of Amorphous Iron in Improving Energy Efficiency of Machines Driving Adoption
Though amorphous iron or Fe amorphous is often considered an exotic material, its unique magnetic properties have contributed to increasing its adoption among end-users. Magnetic properties of amorphous iron balance the characteristics of Superparamagnetic and single-domain Ferromagnetism. Unique magnetic properties of amorphous iron aid in enhancing energy efficiency of an electrical equipment or power distribution systems.
Increase in Iron Mine Production Keeps Prices Competitive
According to the National Minerals Information Center, US Geological Survey, the global production of crude iron ore increased from 2.5 billion metric tons to around 3.3 billion metric tons between the period 2010 and 2015. Also, the global production of usable iron ore also witnessed a significant rise from 1.8 billion metric tons to around 2.3 billion metric tons during the span of five years. Steadily increasing global production of iron is expected to amplify the availability of raw materials for amorphous iron, helping manufacturers to keep the production costs under control.
The FactMR report on amorphous iron (Fe amorphous) market is a result of extensive secondary research and the comprehensive primary research process for amorphous iron (Fe amorphous) market. The research methodology followed by analysts at FactMR is a proven approach that provides a base for compelling intelligence on amorphous iron (Fe amorphous) market.
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