Soft Magnetic Materials Market Report by Material (Cobalt, Iron, Nickel, Electric Steel, and Others), Application (Motors, Transformers, Alternators, and Others), End Use (Automotive, Electrical and Electronics, Telecommunication, Energy and Power, and Others), and Region 2024-2032

Soft Magnetic Materials Market Report by Material (Cobalt, Iron, Nickel, Electric Steel, and Others), Application (Motors, Transformers, Alternators, and Others), End Use (Automotive, Electrical and Electronics, Telecommunication, Energy and Power, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A4208
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Market Overview:

The global soft magnetic materials market size reached US$ 31.8 Billion in 2023. Looking forward, the market is expected to reach US$ 61.0 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2024-2032.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023 US$ 31.8 Billion
Market Forecast in 2032 US$ 61.0 Billion
Market Growth Rate (2024-2032) 7.3%


Soft magnetic materials are functional elements used to measure the magnetic field, electric current, displacement, and mechanical stress. They offer utmost permeability, slight coercive force, small hysteresis loss, remanent induction, and high saturation magnetization. They are utilized in the magnetic cores of transformers, inductors, motors, and generators worldwide. Some of the commonly used soft magnetic materials include pure iron, silicon iron alloys, and nickel-iron alloys.

Soft Magnetic Materials Market

Soft Magnetic Materials Market Trends:

Due to the growing global population, rapid infrastructural developments, and increasing manufacturing activities, the demand for soft magnetic materials in the energy and power industry is escalating around the world. Apart from this, there is a considerable increase in the application of these materials in the automotive industry across the globe. This can be accredited to the rising usage of high functional automotive components, such as the alternator, gearbox, induction coil, and antenna core. Soft magnetic materials are also increasingly being utilized in electric vehicles (EVs) on account of their benefits, such as compact design, low noise, and energy savings. As a result, the rising adoption of EVs around the world is catalyzing the demand for soft magnetic materials. Moreover, they are employed in the stators of brushless direct current (DC) motors, switch reluctance motors, claw pole motors, steppers motors, transformers, and alternators. Furthermore, the market is driven by numerous innovations in the development of harvesting renewable energy and growing investments in the power distribution sector. Other major factors, including the coronavirus diseases (COVID-19) outbreak and a significant need for medical equipment like ventilators that are made up of motors, are anticipated to positively influence the market across the globe.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global soft magnetic materials market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on material, application and end use.

Breakup by Material:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Cobalt
  • Iron
  • Nickel
  • Electric Steel
  • Others
     

Breakup by Application:

  • Motors
  • Transformers
  • Alternators
  • Others
     

Breakup by End Use:

  • Automotive
  • Electrical and Electronics
  • Telecommunication
  • Energy and Power
  • Others
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Material, Application, End Use, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global soft magnetic materials market was valued at US$ 31.8 Billion in 2023.

We expect the global soft magnetic materials market to exhibit a CAGR of 7.3% during 2024-2032.

The growing automotive industry, along with the rising utilization of soft magnetic materials in the EVs as they have compact design, provide low noise, and save energy, is primarily driving the global soft magnetic materials market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for soft magnetic materials, owing to the rising requirement for various medical equipment, such as ventilators across the healthcare sector.

Based on the material, the global soft magnetic materials market can be segmented into cobalt, iron, nickel, electric steel, and others. Currently, electric steel holds the majority of the total market share.

Based on the application, the global soft magnetic materials market has been divided into motors, transformers, alternators, and others. Among these, motors currently exhibit a clear dominance in the market.

Based on the end use, the global soft magnetic materials market can be categorized into automotive, electrical and electronics, telecommunication, energy and power, and others. Currently, the electrical and electronics sector accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global soft magnetic materials market include 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.

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Soft Magnetic Materials Market Report by Material (Cobalt, Iron, Nickel, Electric Steel, and Others), Application (Motors, Transformers, Alternators, and Others), End Use (Automotive, Electrical and Electronics, Telecommunication, Energy and Power, and Others), and Region 2024-2032
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