psalexa

Global Soft Magnetic Materials Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: CM10882
  • Available Format: PDF

The global soft magnetic materials market is expected to witness significant growth, during the forecast period (2016-2022), on account of increasing demand from automotive industry, new product development, and increasing application in motors, transformers and alternators. Additionally, increasing demand from the developing nations is offering new growth opportunities for the global soft magnetic materials manufacturers. Contrary to it, fluctuation in raw material prices is expected to have adverse ripple effects on the growth of the global soft magnetics materials market.

Soft magnetic materials have the efficiency to be easily magnetized and demagnetized. These materials are used to enhance and channel the flux produced by an electric current. Soft magnetic materials are extensively used in various applications such as electric motors, receipt of radio signals, electrical power generation and transmission, microwaves, relays, solenoids, magnetic shielding and electromagnets.

The global soft magnetic materials market has been segmented on the basis of material type, application and end-user. On the basis of material type, the market has been segment into soft ferrite, electrical steel and cobalt. The electrical steel segment is expected to witness significant growth, during the forecast period, due to electrical steel properties such as high permeability, electrical insulation, minimal magnetic losses, low coercivity and high electrical resistivity to iron. On the basis of end-user, the market has been categorized into electronics and telecommunications, automotive and electrical. The automotive industry uses the soft magnetic materials for anti-lock brake systems, fuel injectors, motors, compressors and various rotating devices. On the basis of application, the market has been segmented into motors, transformers and alternators.

Asia-Pacific is expected to witness the fastest growth in the global soft magnetic materials market during the forecast period. The major factors contributing to the regional market growth include the increasing base of automotive manufacturers and increasing investment in establishment of advanced electronics and telecommunications industries. The growing demand is encouraging major players to shift their focus from developed nations to the developing nations of China, India, and South Korea. China and Japan are the major countries driving the soft magnetic materials market in the Asia-Pacific region. The automobile industry in China has been witnessing exponential growth. Since 2009, the annual production of automobiles in China has exceeded the combined production of automobiles in Japan, the U.S., and the European countries. The North American market is expected to witness significant growth driven by technological advancement in the field of soft magnetic materials during the forecast period. The European region is expected to witness steady growth in the global soft magnetic materials market, during the forecast period. The European region acts as an epicenter for the global automotive manufacturing companies. The region has experienced growing R&D expenditures for developing high energy efficiency vehicles. Such efforts are expected to boost the demand for soft magnetic materials market in this region. The South American market has been witnessing growing foreign investment in the automotive and electronics industry, due to industry-friendly investment conditions. This is resulting in increased growth opportunities for soft magnetic materials manufacturers around the globe. Stringent environmental regulations and high infrastructure cost in North America has forced the manufacturers to shift their investment and expansion plans to the developing nations of South America.

Some of the key companies in the global soft magnetic materials market are Hitachi Metals Co. Ltd., Toshiba Materials Co. Ltd., Daido Steel Company Ltd, Steward Advanced Materials, Sintex a/s, Vacuumschmelze GmbH & C0. Kg, GKN Sinter Metals, and Mate Co. Ltd.

Global Soft Magnetic Materials Market Segmentation
By Application

  • Motors
  • Transformers
  • Alternators
  • Others

By Material Type

  • Soft ferrite
  • Electrical steel
  • Cobalt
  • Others

By End-User

  • Automotive industry
  • Electronics and telecommunications
  • Electrical
  • Others

By Geography

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Italy
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • Rest of APAC
  • South America
    • Brazil
    • Rest of South America
  • Rest of the World
Place An Order
USD 4900 USD 6400 USD 8400
Customized Report Solution

Get a bespoke market intelligence solution

 
We are committed to ensuring the highest level of client satisfaction
Quality Acknowledgement
Quality Acknowledgement

Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you

Unmatched Standards
Unmatched Standards

Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights

Reach Us
Reach Us Whenever You Need Us

With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required

Data Security
Complete Data Security

We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws