Global Soft Magnetic Material Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Soft Magnetic Material Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global soft magnetic material market has been segmented on the basis of application, product, as well as regions and countries.
Magnetic materials are divided into soft, semi-hard, and hard. Soft magnetic materials are those materials that are easily magnetized and demagnetized. They typically have intrinsic coercivity less than 1000 Am-1. They are used primarily to enhance and/or channel the flux produced by an electric current.
The growing demand for power distribution, paired with the surging demand for motors across a host of applications, especially in healthcare equipment is a major factor that is expected to fuel the revenue growth of the global soft magnetic material market over the next 10 years.
The increasing demand for electric vehicles, advancements in harvesting renewable energy, and increasing investments in the power distribution industry are additional factors that are expected to have an impact on the future market growth of this global industry.
The steady expansion of the power sector, which is a major end-user for motors, owing to robust industrialization and infrastructural development, as well as surging manufacturing activities, is a prominent factor that is slated to contribute significantly to the revenue growth of the global soft magnetic material market in the foreseeable future.
However, in light of the recent COVID-19 outbreak, various end-use industries of soft magnet materials, including this market itself have been significantly impacted, and is expected to index negative growth. Nonetheless, this pandemic has also drastically increasing the demand for medical equipment such as ventilators, and this is expected to augment the future revenue growth of this market.
Segmentation of the global soft magnetic material market is as follows:
On the basis of application, the electric motors segment accounted for the highest number of revenue shares of the global soft magnetic material market in 2019, owing to its vast number of applications in various end-use industries. The transformers segment accounted for the second-highest number of revenue shares of the global market.
In terms of product, the electrical steel segment accounted for the highest number of revenue shares of the global soft magnetic material market in 2019, due to its increasing demand across a host of applications. The ferrites segment accounted for the second-largest revenue share of this global market in 2019.
Regional Segmentation and Analysis:
The APAC accounted for the majority revenue shares of the global soft magnetic material market in 2019, and is expected to continue to do so over the next decade. This can be accredited to growing investments, favorable government initiatives, the increasing populations and escalating demand for electricity in these developing economies.
The markets in Europe and North America accounted for the second and third-highest revenue shares respectively of this global market in 2019.
Segmentation of the Global Soft Magnetic Material Market:
Segmentation by Application:
Segmentation by Product:
- Electrical Steel
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Arnold Magnetic Technologies
- GKN Sinter Metals Engineering GmbH
- Hitachi Metals Group
- JFE Steel Group
- Mahindra CIE
- MATE CO. LTD.
- Meyer Sintermetall AG
- Sintered Specialties LLC.
- Steward Advanced Materials LLC
- VACUUMSCHMELZE GmbH & Co. KG
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