Global Soft Magnetic Materials Market was valued at US$ 21.05 Bn in 2019 and is expected to reach US$ 45.96 Bn by 2027 at a CAGR of 9.13 % during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Global Soft Magnetic Materials Market
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Global Soft Magnetic Materials Market Dynamics:
The soft magnetic materials market is expected to grow at a considerable CAGR on a global scale over the forecast period. Key drivers for this market are the rise in demand for soft magnetic materials from the automotive industry, disruptive innovations that have led to new product launches, prolific use of sintered soft magnetic materials for electrical motors, transformers, and alternators, and rapid up-gradation of infrastructure. Burgeoning demand in developing countries will open new avenues for this market over the forecast horizon. Extensive R&D in this field is spurring market growth. On the other hand, volatile raw material prices are restraining the market growth. Reducing eddy current losses in soft magnetic materials is the main challenge for this market.
Electrical steel has prolific applications in motors, generators, transformers, and alternators. It has superior properties like little coercive, high electrical resistivity to iron, high permeability acts as an electrical insulator, and has less current losses. It is hence accounted for the largest market share currently. This trend is estimated to continue in the forecast period. Cold-rolled lamination steel and amorphous steel will follow suit. Motors have a chunk of the market share and are deemed to dominate in the forecast period.
Global Soft Magnetic Materials Market Segment Analysis:
Depending on the application, the motors segment is accounted for the largest market share in the soft magnetic materials market owing to the growing demand for motors in the electrical and automotive business. The soft magnetic materials that are often used in motor applications are iron-based materials, which include iron-silicon and iron-cobalt.
Soft magnetic materials increased wide acceptance in various end-user industries, because of the superior performance and a number of advantageous properties like good permeability and the reduction of eddy current loss. Automotive is the most important consumer in the soft magnetic materials market. The major automotive applications where these materials are used include anti-lock brake systems, fuel injectors, motors, compressors, other rotating devices, and so on.
Global Soft Magnetic Materials Market Regional Insights:
The growth of the soft magnetic materials market in the Asia-Pacific region is driven by the growing electronics & telecommunications and automotive industries due to the presence of established players and stringent environmental regulations stressing the use of materials which will lead to the reduction of eddy current loss, thereby leading to energy savings. Some of the leading players such as Daido Steel Co. Ltd. (Japan) and Toshiba Materials Co., Ltd. (Japan) have accelerated their R&D efforts to provide good quality soft magnetic materials. Moreover, the Asia-Pacific region is witnessing rapid economic development and industrialization, which is also giving an impetus to the soft magnetic materials market in the region.
The objective of the report is to present a comprehensive assessment of the market and contain insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by product type, end-user, and region and, projects the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the soft magnetic materials market.
Global Soft Magnetic Materials Market, Key Highlights:
• Global Soft Magnetic Materials Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Soft Magnetic Materials Market
• Global Soft Magnetic Materials Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Soft Magnetic Materials Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Soft Magnetic Materials Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Soft Magnetic Materials Market are also profiled.
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Scope of the Global Soft Magnetic Materials Market Report: Inquire before buying
Global Soft Magnetic Materials Market, By Material
• Electric Steel
Global Soft Magnetic Materials Market, By Industry Vertical
Global Soft Magnetic Materials Market, By Application
Global Soft Magnetic Materials Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in the Global Soft Magnetic Materials Market
• VACUUMSCHMELZE GmbH & Co. KG
• GKN Plc.
• Daido Kogyo Co. Ltd.
• Toshiba Materials Co., Ltd.
• Steward Advanced Materials Inc.
• Sintex A/S
• Mate Co. Ltd.
• Sumitomo Metal Mining Co. Ltd.
• SA Technologies Limited
• Hitachi Metals Ltd.
• GKN Sinter Metals Inc.
• Daido Steel Co. Ltd.
• Ames S.A.
• FJ Industries
• Arnold Magnetic Technologies
• Powder Metal Group (PMG)
• Fluxtrol Inc.
• MATE CO., LTD
• Sintered Specialties, LLC
• Steward Advanced Materials LLC
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