Global Soft Magnetic Materials Market to Reach US$ 43.8 Billion by 2027, Supported by Increasing Product Demand in the Automotive Industry

September 19, 2022

According to the latest report by IMARC Group, titled “Soft Magnetic Materials Market: Global Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global soft magnetic materials market reached a value of US$ 27.6 Billion in 2021. Soft magnetic materials are functional elements that are easily magnetized and demagnetized. They are manufactured using iron, nickel, electric steel, and cobalt. They are commonly used to measure the electric current, magnetic field, displacement, and mechanical stress of transformers, motors, and alternators. Soft magnetic materials exhibit permeability, small hysteresis loss, remanent induction, low retentivity, coercivity, and high saturation magnetization. As compared to hard magnetic materials, they exhibit lower hysteresis loss due to small hysteresis area and reduce electronic components' dimensions and promote work efficiency. As a result, these materials are used for making temporary magnets.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Soft Magnetic Materials Market Trends: 

The widespread product adoption across the automotive industry in stators of brushless and brushed direct current (DC), stepper, switch reluctance, and claw pole motors due to their high electrical resistivity to iron and high permeability are creating a positive outlook for the market. In line with this, the increasing utilization of soft magnetic materials in electric vehicles (EVs), owing to their compact design, low noise, and energy-saving features, is acting as another growth-inducing factor. Apart from this, the introduction of nanostructured soft magnetic materials that exhibit improved hardness, wear, erosion and corrosion resistance, and higher chemical activity is providing an impetus to the market growth. Additionally, the increasing product demand in the energy and power industry, the rising population, rapid infrastructural development, and the growing need for improving energy distribution are propelling the market growth. Furthermore, the widespread product adoption in hospitals to manufacture medical equipment that utilize motors for regulated airflow, high torque density, proper control, and less noise is positively influencing the market growth. Other factors, including extensive research and development (R&D) activities and the implementation of various government initiatives for increasing power generation, are supporting the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 43.8 Billion by 2027, exhibiting a CAGR of 8.3% during 2022-2027.   

Market Summary

  • Based on the material, the market has been classified into cobalt, iron, nickel, electric steel, and others.
  • On the basis of the application, the market has been divided into motors, transformers, alternators, and others.
  • Based on the end use, the market has been categorized into automotive, electrical and electronics, telecommunication, energy and power, and others.
  • On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.? 
  • The competitive landscape of the industry has also been examined, with some of the key players being Arnold Magnetic Technologies, Daido Steel Co. Ltd., GKN Sinter Metals Engineering GmbH, Hitachi Ltd., Mate Co. ltd., Meyer Sintermetall AG, SG Technologies, Steward Advanced Materials, Sumitomo Metal Mining Co. Ltd., Toshiba Materials Co Ltd (Toshiba Corporation) and Vacuumschmelze GmbH & Co KG.
     

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Global Soft Magnetic Materials Market to Reach US$ 43.8 Billion by 2027, Supported by Increasing Product Demand in the Automotive Industry
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More