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Global Soft Magnetic Materials Market is valued at approximately USD 20.79 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.35% over the forecast period 2022-2029. Soft magnetic materials are often used in automotive electric motors due to benefits including low noise, compact design, and energy savings. Soft magnetic materials are also often used in stators for Stepper motors, brushed and brushless DC motors, switch reluctance motors, claw pole motors, transformers, and alternators are examples of electric motors. . These materials function as electrical insulators and endure lower eddy current losses because of their low coercivity, strong electrical resistance to iron, high permeability, and soft magnetic properties. The Soft Magnetic Materials Market is expanding because of factors such as increasing adoption and demand of electric vehicles and innovations in the development of harvesting renewable energy.
Innovations in the production of renewable energy, expanding investments in the domain of power distribution, and rising interest in electric vehicles are all contributing to the market's expansion. For instance, the European Investment Bank decided to allocate USD 1.64 billion to energy efficiency and renewable energy projects around the world in 2019. Furthermore, increasing financial support to produce electric vehicles is further boosting the market growth. For instance, the American president signed an executive order in August 2021 calling for all new cars to be 50% electric by 2030. As a result, numerous automakers are turning their attention to the creation of EVs. For instance, Bentley Motors declared in October 2021 that all its vehicles would likely be electric by 2030 and plug-in hybrids by 2026. In addition, rising investments in the power distribution sector and increasing demand for motors in various applications is creating lucrative growth in the market. However, the high cost of soft magnetic materials may halt market growth.
The key regions considered for the Global Soft Magnetic Materials Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to rising demand and adoption of electric vehicles and rising demand from various applications along with the presence of key market players in the region. Whereas Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising automotive industry in the region, rising government support to the industry and rising product innovation and research and development activities in the region.
Major market players included in this report are:
- Arnold Magnetic Technologies
- GKN Sinter Metals Engineering GmbH
- Hitachi Metals Ltd
- JFE Steel Corporation
- Mahindra CIE Ltd
- MATE CO., LTD
- Meyer Sintermetall AG
- DSB Technologies Steward Advanced Materials LLC
- VACUUMSCHMELZE GmbH & Co. KG
Recent Developments in the Market:
- In May 2020, For the automobile sector, scientists at the International Advanced Research Centre for Powder Metallurgy & Novel Materials developed a new method for producing soft magnetic alloys based on iron-phosphorus (Fe-P). The wrought FE-P alloy produced by the technique possesses qualities that surpass those of silicon steel and is also expected to be inexpensive.
Global Soft Magnetic Materials Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Application, Product, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Application:
- Motors
- Transformers
- Alternators
- Others
By Product:
- Electrical Steel
- Ferrite
- Permalloys
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Soft Magnetic Materials Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Soft Magnetic Materials Market, by Application, 2019-2029 (USD Billion)
- 1.2.3. Soft Magnetic Materials Market, by Product, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Soft Magnetic Materials Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Soft Magnetic Materials Market Dynamics
- 3.1. Soft Magnetic Materials Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing adoption and demand of electric vehicles
- 3.1.1.2. Innovations in the development of harvesting renewable energy,
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Soft magnetic materials
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising investments in the power distribution sector
- 3.1.3.2. Increasing demand for motors in various applications
Chapter 4. Global Soft Magnetic Materials Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Soft Magnetic Materials Market, by Application
- 6.1. Market Snapshot
- 6.2. Global Soft Magnetic Materials Market by Application, Performance - Potential Analysis
- 6.3. Global Soft Magnetic Materials Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 6.4. Soft Magnetic Materials Market, Sub Segment Analysis
- 6.4.1. Motors
- 6.4.2. Transformers
- 6.4.3. Alternators
- 6.4.4. Others
Chapter 7. Global Soft Magnetic Materials Market, by Product
- 7.1. Market Snapshot
- 7.2. Global Soft Magnetic Materials Market by Product, Performance - Potential Analysis
- 7.3. Global Soft Magnetic Materials Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
- 7.4. Soft Magnetic Materials Market, Sub Segment Analysis
- 7.4.1. Electrical Steel
- 7.4.2. Ferrite
- 7.4.3. Permalloys
- 7.4.4. Others
Chapter 8. Global Soft Magnetic Materials Market, Regional Analysis
- 8.1. Soft Magnetic Materials Market, Regional Market Snapshot
- 8.2. North America Soft Magnetic Materials Market
- 8.2.1. U.S. Soft Magnetic Materials Market
- 8.2.1.1. Application breakdown estimates & forecasts, 2019-2029
- 8.2.1.2. Product breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Soft Magnetic Materials Market
- 8.3. Europe Soft Magnetic Materials Market Snapshot
- 8.3.1. U.K. Soft Magnetic Materials Market
- 8.3.2. Germany Soft Magnetic Materials Market
- 8.3.3. France Soft Magnetic Materials Market
- 8.3.4. Spain Soft Magnetic Materials Market
- 8.3.5. Italy Soft Magnetic Materials Market
- 8.3.6. Rest of Europe Soft Magnetic Materials Market
- 8.4. Asia-Pacific Soft Magnetic Materials Market Snapshot
- 8.4.1. China Soft Magnetic Materials Market
- 8.4.2. India Soft Magnetic Materials Market
- 8.4.3. Japan Soft Magnetic Materials Market
- 8.4.4. Australia Soft Magnetic Materials Market
- 8.4.5. South Korea Soft Magnetic Materials Market
- 8.4.6. Rest of Asia Pacific Soft Magnetic Materials Market
- 8.5. Latin America Soft Magnetic Materials Market Snapshot
- 8.5.1. Brazil Soft Magnetic Materials Market
- 8.5.2. Mexico Soft Magnetic Materials Market
- 8.5.3. Rest of Latin America Soft Magnetic Materials Market
- 8.6. Rest of The World Soft Magnetic Materials Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. Arnold Magnetic Technologies
- 9.2.1.1. Key Information
- 9.2.1.2. Overview
- 9.2.1.3. Financial (Subject to Data Availability)
- 9.2.1.4. Product Summary
- 9.2.1.5. Recent Developments
- 9.2.2. GKN Sinter Metals Engineering GmbH
- 9.2.3. Hitachi Metals Ltd
- 9.2.4. JFE Steel Corporation
- 9.2.5. Mahindra CIE Ltd
- 9.2.6. MATE CO., LTD
- 9.2.7. Meyer Sintermetall AG
- 9.2.8. DSB Technologies
- 9.2.9. Steward Advanced Materials LLC
- 9.2.10. VACUUMSCHMELZE GmbH & Co. KG
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption
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