Soft Magnetic Materials Market 2022
New Future Study Reports “Soft Magnetic Materials Market 2022 Global Strategies, Opportunities, Growth, Dynamics, Competitive Landscape, SWOT Analysis and Forecasts 2029” has been Added on PMR.
Report Summary:
The global soft magnetic materials market is expected to reach US$ 142 Bn by the end of 2029, progressing at a significant CAGR of 8% during 2019 – 2029.
A complete evaluation of Soft Magnetic Materials Market is published on PMR. Major forces impacting Soft Magnetic Materials Market and their impact on Soft Magnetic Materials Market rise are presented in detail in the report. A complete analysis of COVID 19 impact on Soft Magnetic Materials Market is offered along with the report. In addition, the influence of natural disaster and political tension on Soft Magnetic Materials Market are also presented in the report. Real time and short-term impact, along with major long-term consequences of these forces on Soft Magnetic Materials Market is also detailed in the report. The report comprises of segment and regional analysis section. A complete another section is dedicated to the dynamics of key players operating in Soft Magnetic Materials Market.
Market Dynamics
The growing political conflicts among different governments across the globe and the rise in mortality rate due to COVID-19 are observed to significantly influence Soft Magnetic Materials Market across the analysis period. Other major factors that are observed to influence Soft Magnetic Materials Market are described in detail in the report. Changes in the progress pattern of Soft Magnetic Materials Market are explained vividly. Sustainable and rational approaches to counter challenges in the market are listed. Other potential threats and growth prospects are mentioned in the report with complete detail.
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Global sales of soft magnetic materials surpassed the market value of US$ 60 Bn in 2018. Though the demand will be concentrated in automotive industry, increasing use of soft magnetic materials in electrical components and use of sintered soft magnetic materials for electrical motors, generators, and transformers warrant high prospects of soft magnetic material consumption in the near future. A new Persistence Market Research (PMR) study reveals that the soft magnetic materials market is set for a robust CAGR during projection period (2019 – 2029), on the back of solid application potential in electric and hybrid electric vehicles that have been reflecting significant sales growth over the recent past.
Key Companies-
- 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.
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Key Takeaways – Global Soft Magnetic Materials
- Reduction in the size and weight of components is a top priority while designing hybrid vehicles. Conventionally, electromagnetic steel sheets were used as reactor cores. Use of soft magnetic composite (SMC) core materials characterized by excellent high-frequency properties and isotropic magnetic properties is expected to enable design of new three-dimensional magnetic circuits and reduce the size and weight of reactors.
- New improved alloys such as Ni-Zn and Mg-Zn, with higher energy efficiency and magnetic properties have been demonstrated for soft ferrites. SMCs has been used extensively as the core material for transformers and motors.
- Moreover, the nano crystalline core material has been identified as an emerging soft magnetic material owing to its higher efficiency. This material type is estimated to witness noteworthy growth in the foreseeable future as compared to its counterparts such as Fe amorphous and soft ferrite.
- Key manufacturers have consolidated their market presence through established supply chain infrastructure. The soft magnetic materials market in Western Europe and North America is matured and hence, companies are targeting emerging markets such as China, Japan, and India to improve profit margins.
Primarily pushed by the increasing trend of vehicle electrification, sales of soft magnetic materials will also be contributed by their increasing employment in a number of solar power generation initiatives.
Market Players Relying on M&A
The report identifies key market players and various strategies followed by these players in the global soft magnetic materials market. Some of the market giants are Toshiba Materials Co., Ltd., Rio Tinto PLC, Hitachi Metals Ltd, and GKN plc, among others. Extensive R&D in this field is boosting market growth. The recent trend of mergers and acquisition has enhanced market growth. A landmark development was the merger of Japan’s largest and world’s sixth-largest steel maker Nippon Steel Corporation with 27th-ranked Sumitomo Metal Industries in December 2017.
Global Soft Magnetic Materials Market Landscape
The global soft magnetic materials market is anticipated to observe double-digit year-over-year growth, owing to impending needs of various end-use domains such as automotive, electronics, and metallurgy. Escalating demand for soft magnetic materials in developing countries, such as India and China, is estimated to open new avenues for manufacturers in the global soft magnetic materials market over the forecast period. Renewed focus on increasing energy efficiency and disruptive innovations for harvesting renewable energy has led to a positive shift in the market dynamics.
Why Purchase this Report?
A new market research study by Persistence Market Research on the global soft magnetic materials market offers global industry analysis for 2014-2018 and market forecast for 2019-2029. The report provides vital actionable insights about ongoing market trends, dynamics, value chain outlook, cost structure, and various key facts and figures about the global soft magnetic materials market. Moreover, it also elaborates upon key indicators of market growth such as Compounded Annual Growth Rate (CAGR), Year-on-Year (Y-o-Y) growth, and incremental $ opportunity of the global soft magnetic materials market.
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Key Questions Answered in PMR’s Soft Magnetic Materials Market Report
- Which regions will continue to remain the most profitable markets for soft magnetic materials market players?
- Which factors are anticipated to induce changes in demand for soft magnetic materials during the assessment period?
- How will changing trends impact the soft magnetic materials market?
- How can soft magnetic materials market players leverage opportunities in developed regions?
- Which companies are leading the soft magnetic materials market?
- What are winning strategies used by key players to improve their position in the soft magnetic materials market?
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