Soft Magnetic Materials Market2022-2031
Global sales of soft magnetic materials surpassed the market value of US$ 60 Bn in 2018. Though the demand will be concentrated in automotive industry, increasing use of soft magnetic materials in electrical components and use of sintered soft magnetic materials for electrical motors, generators, and transformers warrant high prospects of soft magnetic material consumption in the near future. A new Persistence Market Research (PMR) study reveals that the soft magnetic materials market is set for a robust CAGR during projection period (2019 – 2029), on the back of solid application potential in electric and hybrid electric vehicles that have been reflecting significant sales growth over the recent past.
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Key Players:
The report has profiled some of the important players prevalent in the global like – Toshiba Materials Co., Ltd., Rio Tinto PLC, Hitachi Metals Ltd, and GKN plc. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Soft Magnetic Materials Market.
Key Takeaways – Global Soft Magnetic Materials
- Reduction in the size and weight of components is a top priority while designing hybrid vehicles. Conventionally, electromagnetic steel sheets were used as reactor cores. Use of soft magnetic composite (SMC) core materials characterized by excellent high-frequency properties and isotropic magnetic properties is expected to enable design of new three-dimensional magnetic circuits and reduce the size and weight of reactors.
- New improved alloys such as Ni-Zn and Mg-Zn, with higher energy efficiency and magnetic properties have been demonstrated for soft ferrites. SMCs has been used extensively as the core material for transformers and motors.
- Moreover, the nano crystalline core material has been identified as an emerging soft magnetic material owing to its higher efficiency. This material type is estimated to witness noteworthy growth in the foreseeable future as compared to its counterparts such as Fe amorphous and soft ferrite.
- Key manufacturers have consolidated their market presence through established supply chain infrastructure. The soft magnetic materials market in Western Europe and North America is matured and hence, companies are targeting emerging markets such as China, Japan, and India to improve profit margins.
Primarily pushed by the increasing trend of vehicle electrification, sales of soft magnetic materials will also be contributed by their increasing employment in a number of solar power generation initiatives.
Market Players Relying on M&A
The report identifies key market players and various strategies followed by these players in the global soft magnetic materials market. Some of the market giants are Toshiba Materials Co., Ltd., Rio Tinto PLC, Hitachi Metals Ltd, and GKN plc, among others. Extensive R&D in this field is boosting market growth. The recent trend of mergers and acquisition has enhanced market growth. A landmark development was the merger of Japan’s largest and world’s sixth-largest steel maker Nippon Steel Corporation with 27th-ranked Sumitomo Metal Industries in December 2017.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Soft Magnetic Materials Market Manufacturers
Soft Magnetic Materials Market Distributors/Traders/Wholesalers
Soft Magnetic Materials Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Soft Magnetic Materials Market – Report Highlights
- A detailed overview of parent market of Soft Magnetic Materials Market
- Changing Soft Magnetic Materials Market dynamics in the industry
- In-depth segmentation of the Soft Magnetic Materials Market
- Historical, current, and projected Soft Magnetic Materials Market size regarding volume and value
- Recent industry trends and developments in Soft Magnetic Materials Market
- Competitive landscape of the Soft Magnetic Materials Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Soft Magnetic Materials Market performance
- Must-have information for Soft Magnetic Materials Market players to sustain and enhance their market footprint
Key Questions Answered in the Soft Magnetic Materials Market Report
How is the Soft Magnetic Materials Market expected to grow over the projected period?
What direction is the Soft Magnetic Materials Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Soft Magnetic Materials Market in future?
What are the key market drivers in the Soft Magnetic Materials Market?
What are significant opportunities and improvement areas for Soft Magnetic Materials Market manufacturers?
What are the key developments and trends taking over the Soft Magnetic Materials Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Soft Magnetic Materials Market?
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