Global Market Study on Soft Magnetic Materials: Electric & Hybrid Vehicle Sales Creating Opportunity


Soft Magnetic Materials  Market
  • Published On : Dec-2019 |
  • Pages : 210 Pages |
  • Format : Soft Magnetic Materials  Market Soft Magnetic Materials  Market Soft Magnetic Materials  Market Soft Magnetic Materials  Market

Significant Adoption by Automotive Industry Pushing Soft Magnetic Materials Market Growth

The automotive industry has been generating remarkable demand for electronic components that aid in delivering enhanced efficiency and high reliability. Components such as inductors that take up a large space inside an automobile have been recently undergoing dimensional reduction, which is brought about by soft magnetic materials. These materials help in reducing dimensions of electronics components and thereby, promote work efficiency. Exceptional magnetic properties of soft magnetic materials continue to push their application in the automotive industry, as it remains at the forefront in terms of raising demand for technically advanced materials.

This study indicates that the notable increase in sales of hybrid vehicles that combine petrol or diesel engines with an electric motor, would remain a significant booster to soft magnetic materials market growth. These soft magnetic materials catalyze reduction of CO2 emissions and thus, promote low fuel consumption. Attributing to their abilities to reduce vehicle weight as compared to conventional electric steel, soft magnetic materials are extensively used in motor driven systems. Key advantages such as compact design, energy savings, and low noise will continue to push demand for soft magnetic motors in electric and hybrid vehicles, which in turn would bolster the growth of global soft magnetic materials market in the near future.

Superior Magnetic Attributes over Electric Steel to Impel Soft Magnetic Materials Demand  

Nano crystalline soft magnetic materials and amorphous alloys exhibit high permeability and enhanced saturation flux density. Other unique properties include low core loss, high temperature resistance, low ageing effects, and high frequency characteristics. Demand for high frequency transformers and reactors is increasing in power generation. Core losses of electrical steel under high frequency range are very high as compared to the soft magnetic materials. This core loss converts into a heat form, which raises the temperature of the immediate area, increasing the demand for soft magnetic materials for use in high temperature environments.

China Remains Storehouse of Opportunities

China is among the major consumers and producers of steel. The geographical strength of Bayo Obo mines, which is enriched with rare earth elements and iron ore, offers a strong advantage. Manufacturers from Japan and Germany aim to establish a free trade agreement with Mongolia, to leverage its proximity to Bayo Obo, in order to access its elements. Furthermore, growing adoption of bicycles, electric vehicles, power industries and aerospace creates lucrative growth opportunities for soft magnetic material manufacturers.

Market Structure Analysis

The soft magnetic materials industry has witnessed major expansion, attributable to key global players, with diverse product portfolio. The global soft magnetic materials market is highly consolidated and competitive, with leading manufacturing players emphasizing on advanced material properties. Players in the soft magnetic materials market focus on strategic acquisitions, enhancing marketing and distribution channels with an objective to gain high market shares and increase their geographical presence.

Market consolidation at the manufacturer level Prominent market players are concentrating on using various types of alloys for electric steel production and soft magnetic composite (SMC) with an aim to improve energy efficiency. Some of the prominent participants in global soft magnetic materials market that the report covers include GKN plc, Sumitomo Metal Mining Co., Ltd., Hitachi Metals Ltd, Toshiba Materials Co., Ltd., and Rio Tinto PLC.

Analyst’s Viewpoint

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. APEJ and North America are anticipated to account for prominent value shares in the global market. The soft ferrite segment is expected to dominate the global soft magnetic materials market throughout the forecast period.

Soft Magnetic Materials Market - Scope of the Report

Persistence Market Research (PMR) recently published a market study on the global market for soft magnetic materials. The study provides detailed assessment on key market dynamics, including drivers, trends, opportunities, and restraints, along with detailed information about the soft magnetic materials market structure. The report offers exclusive information about the anticipated growth of the soft magnetic materials market during the forecast period of 2019-2029.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are explained in PMR’s report in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the soft magnetic materials market during the forecast period.

The study is relevant for stakeholders in the soft magnetic materials market, including manufacturers, suppliers, distributors, and investors, and can help them develop effective strategies for growth in the market. Stakeholders, industry experts, researchers, journalists and business researchers can leverage the information and data presented in PMR’s report.

The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the market. It also offers actionable insights based on future trends in the soft magnetic materials market. Furthermore, small businesses and new entrants in the soft magnetic materials market too can make use of the information presented in this study, to make suitable business decisions in order to gain momentum in the market.

Key Segments of Soft Magnetic Materials Market

PMR’s study on the soft magnetic materials market is divided into three significant segments – material type, application, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.

Material Type

Application

Region

  • Soft Magnetic Composites (SMC)
    • Pure Iron/Iron Powder
    • Silicon Ferrite
    • Supermalloy
    • Permalloy
  • Transformers
    • Portable
    • Transmission
    • Distribution
  • North America
  • Soft Ferrite
  • Motors
    • 1hp-100hp
    • 101hp-200hp
    • 201hp-1000hp
    • Above 1000hp
  • Latin America
  • Fe Amorphous
  • Inductors
  • Western Europe
  • Nano Crystalline
  • Generators
  • Eastern Europe
  • Japan
  • APEJ
  • MEA

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?

Soft Magnetic Materials Market: Research Methodology

In PMR’s study, a unique research methodology is utilized to conduct extensive research on the historical growth of the soft magnetic materials market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which help analysts ensure accuracy and reliability of conclusions.

Secondary resources referred to by analysts during production of the soft magnetic materials market report include statistics from governmental organizations, trade journals, white papers, and internal & external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources act as a validation from companies in the soft magnetic materials market, making PMR’s projection on growth prospects of the soft magnetic materials market more accurate and reliable.

Companies covered in Soft Magnetic Materials Market Report

  • 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. 

Soft Magnetic Materials Market

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