Soft Magnetic Materials Market Size, Share, Industry Trends, Latest Insights and Forecast 2022-2027

According to IMARC Group’s latest report, titled “Soft Magnetic Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the soft magnetic materials market share.

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 refer to ferromagnetic substances that can be easily magnetized and demagnetized. They have a steeply rising magnetization curve and narrow hysteresis loop that results in small energy losses for each magnetization cycle. Currently, soft magnetic materials include nickel, cobalt, Si-steel, soft ferrite, electronic iron, nanocrystalline and amorphous alloys as common items. These magnetic materials have the ability to strengthen the field created by motor windings and minimize eddy current loss to increase the motors efficiency; therefore, soft magnetic materials are widely utilized in motor applications.  

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Soft Magnetic Materials Market Trends:

The rapid expansion in the automotive sector and the growing need for effective motors have intensified the usage of soft magnetic materials, which is primarily driving the market growth. Such components are used in manufacturing motors, compressors, anti-lock brake systems, fuel injectors, and other rotating devices. Additionally, soft magnetic materials exhibit a variety of advantageous properties, such as low coercivity, high electrical resistivity, and superior permeability in contrast to hard metal substances, which is favoring the market growth. Moreover, the rising need for power across industries and the government initiatives to promote electricity distribution in remote locations is facilitating product incorporation in generators, switching circuits, and transformers. Besides this, the large-scale use of soft magnetic material in the production of various medical equipment and devices, such as high-quality pumps, infusion pumps, hemodialysis machines, scanners, respirators, and centrifuges, is contributing to the market growth.

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.

About Us

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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