Press release -
Soft Magnetic Materials Market Size Top Companies Research Forecast 2027
Soft Magnetic Materials Market Size, Share & Trends Analysis Report By Material Type (Cobalt, Iron, Nickel, Electric Steel, Others), By End-Use (Automotive, Electrical & Electronics, Telecommunication, Energy & Power, Others), By Application (AC, DC), Region, And Segment Forecasts, 2021 – 2027
Global Soft Magnetic Materials Market Size is valued at USD 20.56 Billion in 2020 and expected to reach USD 27.67 Billion by 2027 with a CAGR of 3.78% over the forecast period.
Increasing demand for electric vehicles and growing industrialization are the significant factors which are driving the growth of the Global Soft Magnetic Materials Market
The report is divided into:
Key Players and Competitive Landscape
Growth Drivers and Restraints
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Key Players for Global Soft Magnetic Materials Market–
Some of the key players for global Soft Magnetic Materials market are TDK, Hitachi Metals Ltd., CSC, AT and M, Fastron, Zhixin Electric, POCO Magnetic, VACCUMSCHMELZE, Magnetics, DMEGC, Zhaojing Incorporated, Qingado Yunlu, Foshan Catech, Delta Magnets group, Ferroxcube, Acme Electronics, JPMF Guangdong, KaiYuan Magnetism, Haining Lianfeng magnet, Nanjing New Conda, Toshiba Materials, Huzhou Careful Magnetism, Daido Steel, Mate Co. Ltd., MK Magnetics, Sg technologies, Steward Advanced Materials, Sumitomo Metal Mining Co. Ltd., syntax A/S, GKN Sinter Metals, Ames SA and others.
Soft Magnetic Materialss are those that can be magnetized easily and have an intrinsic coercivity of less than 1000 Am-1. Soft Magnetic Materialss are commonly used to enhance and channel the flux produced by an electric current. The important parameter often used as figure of merit for these materials, is the relative permeability, which is measure of how readily the material responds to the applied magnetic field. Coercivity, saturation magnetization, and electrical conductivity are the other major parameters. The applications of Soft Magnetic Materialss are fall into two types AC and DC. In a DC application, the material is magnetized before performing an operation and then demagnetized afterward. In AC applications Soft Magnetic Materials will be continuously cycled from being magnetized from one direction to another direction, throughout the time of operation e.g. power supply transformers. Soft Magnetic Materialss also play very important role in electric motors, where they increase the field produced by a motor windings. These are also used to channel the flux emitted by permanent magnets in permanent magnet motors. Soft Magnetic Materialss are used in DC applications in the field of magnetic shielding. First Soft Magnetic Materials was invented in 1900 by Barret; Brown Handfield which was Si steel plate (Fe-1.5 to 2.5% Si) then in 1923 Arnold Elemen used Permalloy (Fe-Ni).
The Soft Magnetic Materials market is segmented on the basis of material types, end use, application and region & country level. Based on material types, the market segmented into cobalt, iron, nickel, electric steel and others. Also based on end-use, Soft Magnetic Materials market is segmented into automotive, electrical and electronics, telecommunication, energy & power and others. On the basis of application, the market is divided into AC and DC.
Global Soft Magnetic Materials Market Segmentation:
By Material Type:
- Electric steel
- Electrical and electronics
- Energy & Power
Global Soft Magnetic Market By Regional & Country Level:
North America is Anticipated to Dominate the Global Soft Magnetic Materials Market
Geographically; North America is expected to dominate the global Soft Magnetic Materials market over the forecast period is due to its increasing demand in medical equipments, highly advanced healthcare infrastructure and high investment in R & D activities in this region. Asia Pacific is expected to witness a fastest growth in this market owing to the growing need of electricity transmission in developing countries like India, China. For instance, according to Energy Statistics 2019, Generation of electricity increased by 5.71% and consumption of electricity increased by 7.39% during 2017-18 in India. Per capita energy consumption showed CAGR of 2.34% in 2017-2018. The maximum energy intensive sector was industrial sector accounting about 56% of total energy consumption.
North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa