Soft Magnetic Materials Market
Soft Magnetic Materials Market Forecasts to 2028 – Global Analysis By Material (Soft Ferrite, Fe Amorphous, Nano Crystalline), Product (High Permeability Materials, Low Power Consumption Materials), Application (Inductors, Generators, Alternators) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $62.03 BN |
|
Projected Year Value (2028) |
US $127.18 BN |
|
CAGR (2021 - 2028) |
10.8% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
According to Stratistics MRC, the Global Soft Magnetic Materials Market is accounted for $62.03 billion in 2021 and is expected to reach $127.18 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Soft magnetic material is popularly used in the motor application as it enhances the field produced by motor winding. Besides, generally iron-based materials are used in motor application that include iron-silicon and iron-cobalt alloys. Soft magnetic materials reduce eddy current loss that leads to increase in the efficiency of the motors.
Market Dynamics:
Driver:
Development in Soft Magnetic Material
An advanced soft magnetic material has been developed for ac and dc motor applications. In association with the conventional method of stacking punched laminations, the engine components are made of a powder metallurgical process. This new material has many production returns. It also has strong high-frequency magnetic properties, a core loss of 90 W / kg when calculated at 400 Hz, and induction of 1,5 Towing to its low eddy current loss. Components made from this new magnetic material have shown comparable performance at 60 Hz and superior performance at frequencies > 60 Hz compared to cold-rolled motor lamination steels. When sintered, the fresh-pressed material still has outstanding dc properties.
Restraint:
Variations In Raw Material Prices
The prices of iron ore saw a substantial decline due to the seasonal decline in demand and the recovery of supply by iron ore majors. Since then, prices have fluctuated, the prices of iron ore were volatile within the same range, but there was no significant fall as seen in the prices of other metals and minerals. The unexpected fluctuations in raw material prices are destabilizing the supply chain and posing a challenge for manufacturers to deliver quality products at a low price along with earning profits.
Opportunity:
Growing Demand From Developing Economies
Increasing demand for it from developing nations such as China, India, and Malaysia, is expected to create lucrative opportunities for the growth of this market. The increasing number of industries and the growing need for electricity and electronic devices are driving the market growth. Due to the growing global population, rapid infrastructural developments, and increasing manufacturing activities, the demand for soft magnetic materials in the energy and power industry is escalating around the world. Apart from this, there is a considerable increase in the application of these materials in the automotive industry across the globe.
Threat:
Decrease the Eddy Current Loss
Any change in the environment of a coil of wire will cause a voltage to be induced in the coil, regardless of how the magnetic change is produced. The reduction in the eddy current loss is one of the threats for the market growth.
Electrical and Electronics segment is expected to be the largest during the forecast period
Soft magnetic materials are used for two types of AC and DC applications. In DC applications, the material is charged with a particular final purpose to conduct the operation and then demagnetized at the end of the operation. In AC applications, the material will be constantly cycled from being magnetized in one direction to the next, over the time of operation. The use of such materials in electrical applications and the use of such materials in energy generation wind turbines will also contribute to the growth of the industry.
The Motors segment is expected to have the highest CAGR during the forecast period
Due to the growing demand for motors in the electrical and automotive business. It is often used in motor applications are iron-based materials, which include iron-silicon and iron-cobalt. The motors are typically made from silicon steels. Metal amorphous nanocomposite materials (MANCs) offer an alternative to silicone steels which, due to their high resistance, do not heat up as much and can thus rotate at much higher speeds. According to the University of Chicago figures, 50 percent of U.S. power goes into the generator. Vehicles like cars and planes rely on power-transforming engines, as do household appliances like vacuums and refrigerators. Since this room is so big, more powerful motors may make a major difference in energy consumption.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to the vast power generation sector in China, in addition to the continuous investments done in the province to advance the electronics and automotive sector through the years. Moreover, the growing government regulations on automobiles in the Asia-Pacific region have been augmenting the adoption of electric vehicles. This, in turn, has fuelled the usage of soft magnetic materials in electric motors in the region. Increasing demand for applications of the market in automobiles for applications such as sensors, driving motors, electric brakes, actuators, gear shifts, etc. Also, materials are used in easily magnetized and demagnetized devices in scrap industries the growing need for electricity transmission from generators and increasing industrialization in the Asia-Pacific province is expected to drive the market.
Region with highest CAGR:
Europe is projected to have the highest CAGR, due to the technological developments in the field of soft magnetic materials. The European area is the epicenter for major automotive manufacturing firms. The region has experienced rising R&D investment in the production of high energy-efficient vehicles. Such efforts are expected to fuel demand for the soft magnetic materials market in the province.
Key players in the market:
Some of the key players profiled in the Soft Magnetic Materials Market include Rio Tinto PLC, GKN Powder Metallurgy, Höganäs AB, Voestalpine Stahl GmbH, Hitachi Metals Ltd, Toshiba Materials Co., Ltd., Sumitomo Metal Mining Co., Ltd., VACUUMSCHMELZE GmbH & Co. KG, PMG Holding GmbH, Hengdian Group DMEGC Magnetics Co., Ltd.
Key developments:
In November 2021: Fluxtrol Incorporated, a pioneer in magnetic flux control based in the U.S., launched its new interactive animated series called 'The Adventures of Fluxtrol Man.' It aims to entertain and educate people about the company's innovative line of soft magnetic composites. It also includes information about prototyping, simulation, and induction coil design.
In Sep 2021: Höganäs settles supply agreement with US-based KBM Advanced Materials that launches new sales platform for additive manufacturing powder. The agreement includes powders both for additive manufacturing (AM) and metal injection moulding (MIM). Höganäs is proud to announce that we are one of the partners in this exciting venture.
Materials Covered:
• Soft Magnetic Composites (SMC)
• Soft Ferrite
• Fe Amorphous
• Nano Crystalline
• Electrical steel
• Cobalt (Nickel Cobalt Alloy)
• Other Materials
Products Covered:
• High Permeability Materials
• Low Power Consumption Materials
• Metal Alloy Soft Magnetic Materials
• Nickel Zinc Material (High Frequency Material)
Applications Covered:
• Transformers
• Motors
• Inductors
• Generators
• Alternators
• Relays
• Solenoids
• Electromagnet
• Led
End Users Covered:
• Automotive
• Electrical & Electronics
• Energy & Power
• Telecommunication
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
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
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- 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
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Soft Magnetic Materials Market, By Material
5.1 Introduction
5.2 Soft Magnetic Composites (SMC)
5.2.1 Pure Iron/Iron Powder
5.2.2 Silicon Ferrite
5.2.3 Supermalloy
5.2.4 Permalloy
5.3 Soft Ferrite
5.4 Fe Amorphous
5.5 Nano Crystalline
5.6 Electrical Steel
5.7 Cobalt (Nickel Cobalt Alloy)
5.8 Other Materials
5.8.1 Aluminium
5.8.2 Chromium
5.8.3 Phosphorus
6 Global Soft Magnetic Materials Market, By Product
6.1 Introduction
6.2 High Permeability Materials
6.3 Low Power Consumption Materials
6.4 Metal Alloy Soft Magnetic Materials
6.5 Nickel Zinc Material (High Frequency Material)
7 Global Soft Magnetic Materials Market, By Application
7.1 Introduction
7.2 Transformers
7.2.1 Distribution
7.2.2 Portable
7.2.3 Transmission
7.3 Motors
7.3.1 1hp-100hp
7.3.2 101hp-200hp
7.3.3 201hp-1000hp
7.3.4 Above 1000hp
7.4 Inductors
7.5 Generators
7.6 Alternators
7.7 Relays
7.7.1 Choke Coils
7.7.2 Loud Speakers and Earphones
7.8 Solenoids
7.9 Electromagnet
7.10 Led
8 Global Soft Magnetic Materials Market, By End User
8.1 Introduction
8.2 Automotive
8.3 Electrical & Electronics
8.4 Energy & Power
8.5 Telecommunication
8.6 Other End Users
8.6.1 Aerospace
8.6.2 Defense
9 Global Soft Magnetic Materials Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Rio Tinto PLC
11.2 GKN Powder Metallurgy
11.3 Höganäs AB
11.4 Voestalpine Stahl GmbH
11.5 Hitachi Metals Ltd
11.6 Toshiba Materials Co., Ltd.
11.7 Sumitomo Metal Mining Co., Ltd.
11.8 VACUUMSCHMELZE GmbH & Co. KG
11.9 PMG Holding GmbH
11.10 Hengdian Group DMEGC Magnetics Co., Ltd.
11.11 Fluxtrol Incorporated
List of Tables
1 Global Soft Magnetic Materials Market Outlook, By Region (2020-2028) (US $MN)
2 Global Soft Magnetic Materials Market Outlook, By Material (2020-2028) (US $MN)
3 Global Soft Magnetic Materials Market Outlook, By Soft Magnetic Composites (SMC) (2020-2028) (US $MN)
4 Global Soft Magnetic Materials Market Outlook, By Pure Iron/Iron Powder (2020-2028) (US $MN)
5 Global Soft Magnetic Materials Market Outlook, By Silicon Ferrite (2020-2028) (US $MN)
6 Global Soft Magnetic Materials Market Outlook, By Supermalloy (2020-2028) (US $MN)
7 Global Soft Magnetic Materials Market Outlook, By Permalloy (2020-2028) (US $MN)
8 Global Soft Magnetic Materials Market Outlook, By Soft Ferrite (2020-2028) (US $MN)
9 Global Soft Magnetic Materials Market Outlook, By Fe Amorphous (2020-2028) (US $MN)
10 Global Soft Magnetic Materials Market Outlook, By Nano Crystalline (2020-2028) (US $MN)
11 Global Soft Magnetic Materials Market Outlook, By Electrical Steel (2020-2028) (US $MN)
12 Global Soft Magnetic Materials Market Outlook, By Cobalt (Nickel Cobalt Alloy) (2020-2028) (US $MN)
13 Global Soft Magnetic Materials Market Outlook, By Other Materials (2020-2028) (US $MN)
14 Global Soft Magnetic Materials Market Outlook, By Aluminium (2020-2028) (US $MN)
15 Global Soft Magnetic Materials Market Outlook, By Chromium (2020-2028) (US $MN)
16 Global Soft Magnetic Materials Market Outlook, By Phosphorus (2020-2028) (US $MN)
17 Global Soft Magnetic Materials Market Outlook, By Application (2020-2028) (US $MN)
18 Global Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) (US $MN)
19 Global Soft Magnetic Materials Market Outlook, By Distribution (2020-2028) (US $MN)
20 Global Soft Magnetic Materials Market Outlook, By Portable (2020-2028) (US $MN)
21 Global Soft Magnetic Materials Market Outlook, By Transmission (2020-2028) (US $MN)
22 Global Soft Magnetic Materials Market Outlook, By Motors (2020-2028) (US $MN)
23 Global Soft Magnetic Materials Market Outlook, By 1hp-100hp (2020-2028) (US $MN)
24 Global Soft Magnetic Materials Market Outlook, By 101hp-200hp (2020-2028) (US $MN)
25 Global Soft Magnetic Materials Market Outlook, By 201hp-1000hp (2020-2028) (US $MN)
26 Global Soft Magnetic Materials Market Outlook, By Above 1000hp (2020-2028) (US $MN)
27 Global Soft Magnetic Materials Market Outlook, By Inductors (2020-2028) (US $MN)
28 Global Soft Magnetic Materials Market Outlook, By Generators (2020-2028) (US $MN)
29 Global Soft Magnetic Materials Market Outlook, By Alternators (2020-2028) (US $MN)
30 Global Soft Magnetic Materials Market Outlook, By Relays (2020-2028) (US $MN)
31 Global Soft Magnetic Materials Market Outlook, By Choke Coils (2020-2028) (US $MN)
32 Global Soft Magnetic Materials Market Outlook, By Loud Speakers and Earphones (2020-2028) (US $MN)
33 Global Soft Magnetic Materials Market Outlook, By Solenoids (2020-2028) (US $MN)
34 Global Soft Magnetic Materials Market Outlook, By Electromagnet (2020-2028) (US $MN)
35 Global Soft Magnetic Materials Market Outlook, By Led (2020-2028) (US $MN)
36 Global Soft Magnetic Materials Market Outlook, By Product (2020-2028) (US $MN)
37 Global Soft Magnetic Materials Market Outlook, By High Permeability Materials (2020-2028) (US $MN)
38 Global Soft Magnetic Materials Market Outlook, By Low Power Consumption Materials (2020-2028) (US $MN)
39 Global Soft Magnetic Materials Market Outlook, By Metal Alloy Soft Magnetic Materials (2020-2028) (US $MN)
40 Global Soft Magnetic Materials Market Outlook, By Nickel Zinc Material (High Frequency Material) (2020-2028) (US $MN)
41 Global Soft Magnetic Materials Market Outlook, By End User (2020-2028) (US $MN)
42 Global Soft Magnetic Materials Market Outlook, By Introduction (2020-2028) (US $MN)
43 Global Soft Magnetic Materials Market Outlook, By Automotive (2020-2028) (US $MN)
44 Global Soft Magnetic Materials Market Outlook, By Electrical & Electronics (2020-2028) (US $MN)
45 Global Soft Magnetic Materials Market Outlook, By Energy & Power (2020-2028) (US $MN)
46 Global Soft Magnetic Materials Market Outlook, By Telecommunication (2020-2028) (US $MN)
47 Global Soft Magnetic Materials Market Outlook, By Other End Users (2020-2028) (US $MN)
48 Global Soft Magnetic Materials Market Outlook, By Aerospace (2020-2028) (US $MN)
49 Global Soft Magnetic Materials Market Outlook, By Defense (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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