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A look ahead at the Development of Nanocrystalline Industry
Created on 07.06
A Look Ahead at the Development of the Nanocrystalline Industry
I. Current Status of the Nanocrystalline Industry
After decades of market consolidation, the industry has completely moved away from disorderly development, with a significant increase in industry concentration and a basic formation of a large-scale, clustered structure. In 2025, the annual output of nanocrystalline ribbon in China exceeded 40,000 tons. The number of related companies has shrunk from over 500 at its peak to around 200, a failure rate of over 50%, including many with investments exceeding 100 million yuan. The fact that some companies are facing exit from the market further illustrates the significant technological barriers in the nanocrystalline industry.
The current core pain point of the industry is fierce competition due to homogeneous low prices. The price of mainstream K107 nanocrystalline ribbon once fell below the cost line. Some small and medium-sized ribbon manufacturers are using large amounts of scrap metal for recycling to survive, and there are even instances of using entirely scrap metal to melt master alloys. At the same time, the market competition logic is iterating and upgrading, with 10-12 micrometer ultrathin nanocrystalline ribbon becoming the core competitive track. The industry's technological entry barriers are rapidly increasing, and low-end, homogeneous production capacity is being rapidly eliminated.
II. Core Development Opportunities for Nanocrystals
The continued explosive growth of emerging downstream sectors provides stable incremental space for the industry, ensuring a long-term positive industry fundamentals. Core opportunities are concentrated in three major tracks:
Firstly, Cutting-Edge Technology Empowering Growth:
Rapid development in fields such as artificial intelligence, AI data centers, 6G communications, and aerospace and military industries is driving downstream electronic devices towards higher frequencies, lower losses, and higher integration. The widespread adoption of magnetic integration technology significantly increases the proportion of nanocrystal soft magnetic materials replacing traditional ferrite materials, with emerging scenarios expected to see a compound annual growth rate of over 20% in the future.
Secondly, Expanding Demand from New Energy Vehicles:
New energy vehicles are currently the biggest growth engine for the nanocrystal industry, driven by both expanding demand and technological upgrades. With the widespread adoption of 800V high-voltage platforms, the demand for high-frequency, low-loss magnetic components in vehicle filters and DC/DC converters is surging, as are AI data centers, smart grids, and new energy supercharging applications. As solid-state transformers move from demonstration to large-scale commercialization, the market space is expected to expand rapidly. Nanocrystalline materials, as its core soft magnetic material, will experience explosive growth from zero to one, becoming the second growth curve after new energy vehicles, continuously increasing the usage and value of nanocrystals per vehicle. Its losses at high frequencies are far lower than ferrites, making it an indispensable material for the power electronic systems of new energy vehicles. Meanwhile, domestic companies are accelerating breakthroughs in automotive-grade certifications, and cost advantages are driving increased penetration rates. Iterative advancements in high-power electric drive technology for new energy vehicles are driving upgrades in core filter materials, with the amount of nanocrystalline ribbon used per vehicle increasing from 100 grams to over 500 grams, making it the industry's most core and stable growth market.
Thirdly, emerging sectors hold long-term potential:
Solid-state transformers (SST) represent a highly promising emerging sector within the nanocrystalline industry, stemming from the deep compatibility between materials and application scenarios. Nanocrystalline materials, with their high-frequency, low-loss, and high-power-density characteristics, have become the preferred material for high-frequency isolation transformers in solid-state transformers, enabling devices to achieve a 50%-90% reduction in size and efficiency exceeding 98.5%, perfectly meeting the needs of AI data centers, smart grids, and new energy supercharging applications. As solid-state transformers move from demonstration to large-scale commercialization, the market space is expected to expand rapidly. Nanocrystalline materials, as its core soft magnetic material, will experience explosive growth from zero to one, becoming the second growth curve after new energy vehicles.
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