The global Soft Magnetic Material market size is expected to be worth around US$ 26.11 billion by 2027, according to a new report by Vision Research Reports.
The global Soft Magnetic Material market size was valued at US$ 19.22 billion in 2019 and is anticipated to grow at a CAGR of 3.8% during forecast period 2020 to 2027.
The demand for soft magnetic materials is driven by the phenomenal character of getting magnetized and demagnetized with ease. This characteristic is quite essential in electrical and electronic circuits as the magnetic energy is converted back to electrical energy easily before being reintroduced in the circuit. This is not possible in case of hard or permanent magnetic materials, as their magnetization and demagnetization require a large amount of energy. As a result, soft magnetic materials find applications in motors, transformers, generators, and others.
Motors held the largest volume share of the market in 2019. Soft magnetic materials are used in motors where they enhance the field produced by motor windings and channel the flux in permanent magnet motors. Electric motors have ample applications in machine tools, pumps, power tools, turbines, ships, mills, vehicles, home appliances, HVAC equipment, and medical equipment, among others. The use of motors in various industries is boosting its demand.
Electric vehicles are a prominent end-use segment of motors. The growing production of electric vehicles owing to environmental concerns related to conventional vehicles and government initiatives is anticipated to positively influence the demand for motors. Due to the growing demand, manufacturers are compelled to expand their motor production capacities.
The competitive scenario of the market is high with the presence of various players, who are engaged in developing strategies in order to gain a competitive edge in the market. For example, in July 2019, Carpenter Technology announced that it shall help provide soft magnetic alloys for electric aircraft engine demonstrators. The company had made an investment of USD 100 million in a precision strip mill for expanding its soft magnetic capabilities for catering to the aerospace and other industries.
Electric motors held the largest revenue share of over 51% in 2019. Electric motors find applications in several end-use industries be it electric transmission, consumer electronics, electric vehicles, and medical equipment. Medical equipment and devices such as high-quality pumps, infusion pumps, hemodialysis machines, compressors, respirators, centrifuges, scanners, and others make use of small electric motors.
Based on the product, the market has been segmented into (silicon-iron alloy), ferrites, permalloys (nickel-iron alloys), and others. Electrical steel accounted for the highest revenue share of over 60.01% in 2019. Iron-silicon alloys find application in transformer cores, since, silicon helps in increasing electric resistivity and reducing the length of magnetization.
Increasing demand for electrical steel is compelling manufacturers to boost their production capacity. For example, in September 2019, Baosteel announced about building a manufacturing line for high-grade non-oriented silicon steel for meeting increasing demand from industries like new energy vehicles. The trial production is expected to begin at the end of 2021 and final by June 2023.
North America was the third-largest regional segment accounting for a revenue share of over 14.0% in 2019. The growth is majorly from the U.S. The country is a major consumer of electric motors, which is extensively used in several industrial applications such as pumping, compressed air, fans, refrigeration, material processing, and handling.
Asia Pacific held the largest share of the market in 2019 and this trend is expected to continue over the forecast period. The share is owing to a growing population, accelerating demand for electricity, rising investments, and government initiatives in developing countries. For instance, the power sector of Myanmar is one of the largest beneficiaries of FDI as the country has one of the lowest electrification rates in Asia and hence, has huge potential to expand power capacity.
Arnold Magnetic Technologies
GKN Sinter Metals Engineering GmbH
Hitachi Metals Group
JFE Steel Group
MATE CO., LTD
Meyer Sintermetall AG
Sintered Specialties, LLC
Steward Advanced Materials LLC
VACUUMSCHMELZE GmbH & Co. KG
Central & South America
The Middle East & Africa
The Soft Magnetic Material market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Soft Magnetic Material market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Soft Magnetic Material market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Soft Magnetic Material market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Soft Magnetic Material market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Soft Magnetic Material capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Soft Magnetic Material by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Soft Magnetic Material market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Soft Magnetic Material market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Soft Magnetic Material market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Soft Magnetic Material industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Soft Magnetic Material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Soft Magnetic Material market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Soft Magnetic Material market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Soft Magnetic Material market. These factors have benefited the growth of the global market for Soft Magnetic Material. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Soft Magnetic Material. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Soft Magnetic Material are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Marble Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
HDPE Pipes Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
Floating Power Plant Market - Asia Pacific Industry Analysis, Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, and Forecast 2021-2030Read more...
PVC Emulsion Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...
Flexible PVC Films & Sheets Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030Read more...