“Soft magnetic materials market projected to grow at a CAGR of 7.8%”
The global soft magnetic materials market is projected to reach USD 28.15 billion by 2021, at a CAGR of 7.8% from 2016 to 2021. The major drivers of the global soft magnetic materials market are, the increasing demand for soft magnetic materials from the automotive industry, development and modernization of infrastructure, increasing usage of soft magnetic materials in motors, transformers, and alternators. However, issues related to the volatile raw material prices of soft magnetic materials, are restraining the growth of the soft magnetic materials market.
“Motors application accounted for the largest market share in the soft magnetic materials market, by value.”
Soft magnetic material is gaining importance in the motor application because it enhances the field produced by motor winding. The soft magnetic materials that are mostly used in motor application are iron based materials which include iron-silicon and iron-cobalt. Currently motor components are made by a powder metallurgical process, which is a better process than traditional method of stacking punched laminations. Materials produced through this process offer high tolerance and rigidity. Soft magnetic materials helps in reduction of eddy current loss in motors, which leads to increase in the efficiency.
“Asia-Pacific is the fastest-growing market for soft magnetic materials.”
The Asia-Pacific region is the fastest-growing soft magnetic materials market. The increasing demand for soft magnetic materials by various end-use industries such as automotive, electronics & telecommunications, and electrical is driving the soft magnetic materials market in the region. Moreover, the region is witnessing rapid economic development and industrialization which is also giving an impetus to the soft magnetic materials market in the region.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By designation- C Level- 30%, Director Level- 25%, and Others- 45%
- By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, Latin America- 10% and Middle East & Africa- 5%
The report provides a comprehensive analysis and company profiles of the following companies:
- Hitachi Metals Ltd. (Japan)
- Toshiba Materials Co., Ltd. (Japan)
- Steward Advanced Materials (U.S.)
- GKN Sinter Metals Inc. (U.S.)
- Sintex a/s (Denmark)
- Mate Co. Ltd. (Japan)
- Vacuumschmelze Gmbh & Co. KG (Germany)
- SG technologies Limited (U.K.)
- Ames S. A. (Spain)
- Daido Steel Co. Ltd. (Japan)
The report covers the global soft magnetic materials market in terms of material types, end-user industries, and applications. It aims at estimating the market size and future growth potential of this market across different segments such as application, material type, end-user industry and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons To Buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall soft magnetic materials market and the subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights, to better position their businesses and market strategies. The report will also help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.