The global market for soft magnetic materials should grow from $51.4 billion in 2019 to $79.4 billion by 2024 with a compound annual growth rate (CAGR) of 9.1% for the period, 2019-2024.
This study reviews soft magnetic materials technology categories, along with relevant market and production information, technological descriptions and issues, and key applications and market factors in major worldwide markets. This report organizes the technologies into the following segments –
– Powdered iron cores.
– Soft ferrites.
– Soft iron.
– Iron-phosphorous alloys.
– Iron-silicon alloys/electrical steel.
– Iron-nickel alloys.
– Iron-cobalt alloys.
– Amorphous nanocrystalline alloys.
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The following soft magnet applications are also considered in the study, with market breakdowns for each by region and select countries –
– Industrial transformers.
– High-frequency power conversion for industry.
– Solenoids and actuators.
– Industrial and automotive electric motors.
– Consumer product electric motors.
– Consumer electronics.
– Medical applications.
– 79 tables
– A descriptive study and analysis of the global markets for soft magnetic materials
– Analyses of global market trends, with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
– Quantification of the market potential for soft magnetic materials by material type, application, end use industry, and geographical region
– Emphasis on the industry driven underlying markets, government regulations, technology updates along with recent advancements within the segment
– Exclusive chapter on market and industry drivers and structure encompassing supply chain analysis, industry organizations and support systems, market drivers & impediments, and regional considerations for the industry
– Patent analysis covering patent overview, patent trends, and R&D and market development
– Company profiles of manufacturers, suppliers, and supply chain participants of soft magnetic materials. Major players included Denso Corp., Hitachi Metals Ltd., Sumitomo Electric Industries, Sigma-Aldrich and Sanyo Special Steel Co., Ltd.
Whether we realize it or not, we use soft magnets, directly and indirectly, every hour of the day. Soft magnets help to deliver power to our homes and businesses, allow our computers and smartphones to operate, allow us to start and drive our cars, help to power industry, and provide medical services at the doctor’s office or hospital. Soft magnets represent multiple diverse technologies and materials that are used for a wide array of applications and end uses. Because the industry is large and highly specialized, based on both end use and individual soft magnet technology, describing and quantifying the overall market, or even adequately characterizing one or more specific segments, can present a challenge.
In addition to major complexities inherent in the global soft magnetic materials industry, there are several concurrent trends that are driving different sub-segments of the market in different directions. During most of the last two decades, markets for soft magnetic materials have more or less tracked overall industrial and consumer product development trends in two primary categories: electronics and industrial/utility products. However, a combination of emerging trends in demand for key end products, combined with the availability of new, more efficient and more effective soft magnet materials, is driving markets more rapidly than ever. Key factors include increasing demand for high-efficiency electric motors, particularly in the global automotive industry as electric vehicles (EVs) finally begin to make a meaningful push into global markets; development of new and replacement electric power grid infrastructure; improved efficiency; trends in consumer electronics; development of new opportunities in medical and healthcare; and the availability of new soft magnetic materials that improve performance over standard/conventional technologies.
The primary goals of this study are to provide a detailed and up-to-date quantification of the soft magnetic materials markets. This study provides a comprehensive review of soft magnetic materials/technologies, including but not limited to the largest and fastest growing technologies and applications. To this end, the report offers realistic market projections; summarizes key industry players as well as industry trends and product trends; provides an overview of relevant technologies and applications; and most importantly, helps you and your team identify market hot spots, cold spots, points of entry, tappable niches and pitfalls to avoid. The study is relevant to companies, teams, individuals and others operating within the industry, as well as upstream suppliers, downstream end users, investors and other players in this space.
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As shown in the table and figure below, global markets for soft magnetic materials reached a total value of REDACTED in 2018 and are expected to advance to REDACTED by 2019. By 2024, global markets will reach REDACTED, for a 2019 to 2024 compound annual growth rate (CAGR) of REDACTED. Here we summarize the total global market across two application categories. The first of these, industrial, utility and automotive applications, includes the following subcategories/splits that are provided in detail inthe full report: industrial transformers, high-frequency power conversion for industry, solenoids and actuators, industrial and automotive electric motors, and telecommunications. Markets in this category advanced from REDACTED in 2018 to REDACTED in 2019, and are expected to reach REDACTED by 2024, for a 2019 to 2024 CAGR of REDACTED. Markets in the second application category, consumer and medical applications, include splits for each of the following applications in the full report: consumer product electric motors, consumer electronics and medical applications. Markets in this set of categories collectively advanced from REDACTED in 2018 to REDACTED in 2019, and will further increase to REDACTED in 2024, for a 2019 to 2024 CAGR of REDACTED. Additional splits for each of the eight total applications are provided in the full report, as are splits for each of the following soft magnetic materials: powdered iron cores, soft ferrites, soft iron, iron-phosphorous alloys, iron-silicon alloys/electrical steel, iron-nickel alloys, iron-cobalt alloys and amorphous nanocrystalline alloys. Finally, for each application and for each soft magnetic material category, the full study provides market breakdowns for each of the following regions and countries: North America (U.S. and Canada); Europe (Germany, the U.K., France, Italy and Rest of Europe); and Asia (Japan, China, India, South Korea and Rest of Asia).
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