According to Stratistics MRC, the Global Soft magnetic materials market is accounted for $20.01 billion in 2017 and is expected to reach $45.96 billion by 2026 growing at a CAGR of 9.7% during the forecast period.
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Factors such as growing use of soft magnetic materials in motors, transformers, and alternators and increasing the demand for soft magnetic materials from the automotive industry are fueling the market growth. However, the volatile raw material cost is hindering the growth of the market. Moreover, rising demand from emerging economies are providing ample opportunities for the market growth.
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Soft magnetic materials are a type of materials that are simply magnetized and demagnetized on application of electric field. The requirement for soft magnetic material is growing due to their applications in hybrid vehicles, which broadly use soft magnetic materials. Moreover, noise reduction and energy effectiveness has increased the growth of the market.
Depending on application, 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 application are iron based materials which include iron-silicon and iron-cobalt. At present, motor components are made by a powder metallurgical procedure, which is a better procedure than traditional method of stacking punched laminations. Materials produced through this method offer high lenience and firmness.
By geography, the Asia-Pacific region is anticipated to dominate the soft magnetic materials market. The rising demand for soft magnetic materials by different end-user industries such as automotive, electronics & telecommunications, and electrical is driving the soft magnetic materials market in this region. Moreover, China and Japan are the main countries driving the soft magnetic materials market in this region.
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Some of the key players profiled in the Soft magnetic materials market include Mate Co. Ltd., Sumitomo Metal Mining Co., Ltd., Steward Advanced Materials, Sintex a/s SG technologies Limited, SA Technologies Limited, Toshiba Materials Co., Ltd., Hitachi Metals Ltd., GKN Sinter Metals Inc., Daido Steel Co. Ltd., Ames S. Vacuumschmelze Gmbh & Co. KG, Technologies Limited, FJ Industries, Arnold Magnetic Technologies, Powder Metal Group (PMG) and Fluxtrol Inc.
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Material Types Covered:
• Alloys
• Electrical Steel
• Soft Ferrite
• Iron
• Cobalt
• Nickel
• Amorphous steel
• Cold-rolled lamination steel
• Low carbon steel alloy
• Sintered iron powder
• Silicon steels
• Other Material Types
Applications Covered:
• Transformers
• Motors
• Alternators
• Other Applications
End User Industries Covered:
• Defence
• Electronics & Telecommunications
• Electrical
• Automotive
• Other End User Industries
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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Source: MarketersMedia
Release ID: 380846
