Soft magnetic composites (SMCs) market continues to be influenced by a range of factors, notably rising palpability of silicon ferrite in inductors, and increasing preference for soft magnetic materials in electronic components. Worldwide sales of soft magnetic materials exceeded US$ 18,000 Mn in 2018, according to a new FactMR study. Focus of utility equipment manufacturers on curtailing core losses, and leveraging renewable energy sources to meet growing power demand will significantly underpin demand for soft magnetic composites.
Silicon ferrite has become the cornerstone for manufacturers of inductors and capacitors, and has fast been replacing the traditionally employed metal magnetic materials. The study opines that over 50% of soft magnetic composites were manufactured using silicon ferrite. Key attributes of silicon ferrite such as robust chemical stability, magnetic permeability, and cost-effectiveness, has further led researchers to explore its application in RF devices, voltage regulation, and power delivery systems. Ferrite silicone coated soft magnetic composites are also gaining popularity with growing application in transformer cores, inductance coils, resonant inductors, and synchronous electric motors. Electrical resistivity in ferrite minimizes eddy current losses, this is driving its use in high frequency transformer. In order to increase the resistivity of ferrite, manufacturers are adding silicon to further reduce eddy currents in transformer cores.
The demand for supermalloy is increasing among the components manufacturers for telephony, radio engineering and telemechanics instruments. With a focus on high initial permeability and low losses, supermalloy demand is likely to grow significantly in ultra-sensitive transformers, especially in ultra-sensitive magnetic amplifiers and pulse transformers.
APEJ to Spearhead Soft Magnetic Composites Market
FactMR study opines that APEJ is the most lucrative region for soft magnetic composites market, with revenues exceeding US$ 5,000 million in 2018. APEJ is emerging as a vast electrical and electronics hub and growing automotive industry in the region is driving demand for cost-effective soft magnetic composites.
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Soft magnetic composites manufacturers are focusing on increasing demand for high performance materials with lightweight. With the rise in energy consumption, China and India are moving towards using new transformers. Countries are also increasingly replacing old transformers in order to improve grid reliability. China is also emerging as the largest soft magnetic composites producer owing to the vast availability of raw materials, skilled labor force, and low cost of the product.
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Shapes normally created through powder metal are easily achieved with soft magnetic powders.
What's Trending in Market:Increasing Demand for Electrical AppliancesChallenges:Concerns Regarding Low Mechanical StrengthRestraints:Instability in Machine PricesMarket Growth Drivers:Rising Demand in Energy & Automotive SectorGrowing Number of Nuclear Power PlantsGlobal Soft Magnetic Composites Market Development Scenario by Players Ø Financials Information, Business Overview and Product Specification Matrix Ø Patent Analysis Briefing* [if applicable] Ø No.
Yes, we can add or profile new company as per client need in the report, provided it is available in our coverage list as mentioned in answer to Question 1 and after feasibility run final confirmation will be provided by research team checking the constraints related to difficulty of survey.
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Soft Magnetic Materials Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the soft magnetic materials market include AMES, Daido Steel, Grundfos A/S, Hitachi, Ltd., Mate Co., Ltd., Melrose Industries PLC, SG Technologies, Sumitomo Metal Mining Co., Ltd., Toshiba Materials Co., L., Rio Tinto PLC, Hoganas AB.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Soft Magnetic Materials Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/soft-magnetic-materials-market/download-sampleMarket DynamicsRapid industrialization and urbanization and the need for greater energy efficiency are factors augmenting the demand for the soft magnetic material.
Flourishing production of electric motors, gearbox, alternator, induction coil, and antenna core is propelling the growth of the soft magnetic material market.
The newest type of soft magnetic material in use is amorphous and nanocrystalline alloys.
