Soft Magnetic Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The automotive industry has been generating remarkable demand for electronic components that enhance efficiency and reliability. Components such as inductors, which occupy significant space inside an automobile, have recently been undergoing dimensional reduction, facilitated by soft magnetic materials. These materials help reduce the size of electronic components, thereby promoting work efficiency. The exceptional magnetic properties of soft magnetic materials continue to drive their application in the automotive industry, which remains at the forefront in terms of demanding technically advanced materials.

𝐑𝐢𝐬𝐢𝐧𝐠 𝐒𝐚𝐥𝐞𝐬 𝐨𝐟 𝐇𝐲𝐛𝐫𝐢𝐝 𝐕𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝

This study indicates that the notable increase in sales of hybrid vehicles, which combine petrol or diesel engines with an electric motor, will significantly boost the soft magnetic materials market growth. These materials catalyze the reduction of CO2 emissions and promote low fuel consumption. Attributing to their ability to reduce vehicle weight 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, bolstering the growth of the global soft magnetic materials market in the near future.

𝐒𝐮𝐩𝐞𝐫𝐢𝐨𝐫 𝐌𝐚𝐠𝐧𝐞𝐭𝐢𝐜 𝐀𝐭𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐬 𝐨𝐯𝐞𝐫 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐒𝐭𝐞𝐞𝐥 𝐭𝐨 𝐈𝐦𝐩𝐞𝐥 𝐃𝐞𝐦𝐚𝐧𝐝

Nanocrystalline 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. The demand for high-frequency transformers and reactors is increasing in power generation. Core losses of electrical steel under high-frequency ranges are very high compared to soft magnetic materials. This core loss converts into heat, raising the temperature of the immediate area and 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, 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 and access its elements. Furthermore, the 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 portfolios. The global soft magnetic materials market is highly consolidated and competitive, with leading manufacturing players emphasizing advanced material properties. Players in the soft magnetic materials market focus on strategic acquisitions, enhancing marketing and distribution channels with the objective of gaining high market shares and increasing 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 composites (SMC) to improve energy efficiency. Some of the prominent participants in the 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.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

The continued advancements in the automotive industry and the increasing focus on reducing CO2 emissions are expected to drive the demand for soft magnetic materials. The development of hybrid and electric vehicles, with their reliance on soft magnetic materials for improved efficiency and performance, will be a significant driver for market growth. Furthermore, the superior magnetic attributes of these materials over traditional electric steel will continue to push their demand in various applications, including power generation and high-frequency environments.

𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐚𝐧𝐝 𝐃𝐞𝐬𝐢𝐠𝐧 𝐅𝐥𝐞𝐱𝐢𝐛𝐢𝐥𝐢𝐭𝐲

Soft magnetic materials offer enhanced energy efficiency and design flexibility, making them an ideal choice for modern automotive and electronic applications. Their ability to reduce dimensions, increase efficiency, and lower noise levels will continue to drive their adoption in various industries. The ongoing research and development efforts to improve the properties and performance of soft magnetic materials will further enhance their market prospects.

Key Market Players:

• 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.

Market Segments Covered in Soft Magnetic Materials Market Analysis:

Material Type

• Soft Magnetic Composites (SMC)
• Pure Iron/Iron Powder
• Silicon Ferrite
• Supermalloy
• Permalloy
• Soft Ferrite
• Fe Amorphous
• Nano Crystalline

Application:

• Transformers
• Portable
• Transmission
• Distribution
• Motors
• 1hp-100hp
• 101hp-200hp
• 201hp-1000hp
• Above 1000hp
• Inductors
• Generators

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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