According to IMARC Group’s latest report, titled “Soft Magnetic Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global soft magnetic materials market size reached a value of US$ 27.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.8 Billion by 2027, exhibiting a CAGR of 8.3% during 2022-2027.
Soft magnetic materials represent specialized materials that are utilized for measuring the electric current, magnetic field, displacement, and mechanical stress. They are of several types, such as cobalt, iron, nickel, electric steel, etc. These soft magnetic materials are integrated into the magnetic cores of transformers, motors, inductors, and generators. They offer utmost permeability, high saturation magnetization, slight coercive force, small hysteresis loss, and remanent induction. As a result, soft magnetic materials find extensive applications across numerous sectors, including electronics, telecommunication, automobile, medical devices, energy and power, etc.
COVID-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Soft Magnetic Materials Market Trends:
The elevating infrastructural developments and the growing manufacturing activities across countries are primarily driving the soft magnetic materials market. Additionally, the shifting preferences toward high functional automotive components that include alternator, induction coil, gearbox, and antenna core, are acting as significant growth-inducing factors. In line with this, the increasing product utilization in electric vehicles (EVs), owing to their various benefits, such as compact design, low noise, and energy efficiency, is also positively influencing the global market. Moreover, the expanding power industry, the rising innovations in harvesting renewable energy, and the inflating investments in the power distribution sector are further catalyzing the market growth. Besides this, the escalating need for ventilators and other essential medical equipment that are made up of motors in the healthcare segment is expected to bolster the soft magnetic materials market in the coming years.
Soft Magnetic Materials Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the soft magnetic materials market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Arnold Magnetic Technologies
- Daido Steel Co. Ltd.
- GKN Sinter Metals Engineering GmbH
- Hitachi Ltd., Mate Co. ltd.
- Meyer Sintermetall AG
- SG Technologies
- Steward Advanced Materials
- Sumitomo Metal Mining Co. Ltd.
- Toshiba Materials Co Ltd (Toshiba Corporation)
- Vacuumschmelze GmbH & Co KG.
Key Market Segmentation:
The report has segmented the soft magnetic materials market on the basis of breakup by material, application, end-use and region.
Breakup by Material:
- Cobalt
- Iron
- Nickel
- Electric Steel
- Others
Breakup by Application:
- Motors
- Transformers
- Alternators
- Others
Breakup by End Use:
- Automotive
- Electrical and Electronics
- Telecommunication
- Energy and Power
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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