The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Soft Ferrite. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Soft Ferrite Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Soft Ferrite market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Soft Ferrite
This newly published and insightful report sheds light on Market Insights of Soft Ferrite, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Soft Ferrite Market.
The global soft ferrite market size has witnessed moderate growth at a CAGR of 4.4% over the past half-decade. However, due to the ongoing outbreak of COVID-19, the market has declined by more than 1% in terms of value, and around 0.4% decline in prices over the first 2 quarters of 2020. Post this timeframe, with a resurrection in global demand, the soft ferrite market is forecast to witness a rapid uptake at a CAGR of over 6% during the forecast period (2020-2030).
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Soft Ferrite Market Segmentation
Fact.MR has studied the soft ferrite market with detailed segmentation on the basis of product, application, and key regions.
- Mn-Zn Ferrite
- Ni-Zn Ferrite
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East & Africa
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Soft Ferrite Market Competitive Analysis
The global soft ferrite market is fairly consolidated in nature. Voestalpine Stahl GmbH, Hitachi Metals Ltd, and Toshiba Corp (Toshiba Materials Co., Ltd.) are among the tier 1 players. Together, they are anticipated to account for more than 50% of the global market share in 2020.
Key manufacturers are observed to be involved in extensive research, product development, and catering products to promising and niche applications to enhance their market share. Prominent manufacturers have also showcased inorganic strategies. For instance, in August 2016, MMG acquired Sinome Ferrites based in Brazil. This acquisition is set to enhance ferrite offerings across the Americas.
Sales of soft ferrite have witnessed a sheer proliferation in the recent past, in line with the preference for materials with outstanding magnetic characteristics and electrical resistance. The soft ferrite market is projected to witness volume sales of nearly 11,122 Tons by 2019, up from 10,506 tons in 2018, as per the latest research study by Fact.MR. Unwavering demand for soft magnetic materials from booming electrical, electronics, and automotive industries is predominantly spurring the worldwide sales of soft ferrite. According to the report, cost-effectiveness, optimum efficiency, and easy availability are some of the major factors fostering the adoption rate of soft ferrite.
Prolific use of soft magnetic materials in case of static and passive electrical components has been identified as a key driver. Soft ferrite manufacturers are strengthening innovations and speeding up the ‘time-to-market’ aspect for increasing their market share.
“Volatile pricing associated with the raw materials might pose challenges for the manufacturers, from an expansion standpoint. Low-frequency hysteresis loop is one of the key disadvantages associated with soft magnetic materials, which is likely to hinder the adoption of soft ferrite“, Senior Analyst, Fact.MR
Mn-Zn Ferrite Overshadows Ni-Zn Variant, High Permeability Remains the Key USP
Low loss at high frequencies is one of the major attributes driving adoption of soft ferrite in case of switched-mode power supply (SMPS) systems. The Fact.MR study also opines that Mn-Zn Ferrite will outsell the Ni-Zn Ferrite in the future. Continual preference for Mn-Zn Ferrite by virtue of its high permeability is the key aspect retaining its buoyancy in the soft ferrite market in 2018 as well as in 2019.
While motors remain the largest application area in the soft ferrite market, Fact.MR study shows that use of soft ferrite in case of inductors is foreseen to scale new heights, with an anticipated Y-O-Y growth of nearly 8.5% in 2019. This growth can be attributed to emergence of new avenues such as telecommunication, power conversion, and interference suppression, wherein inductors are an integral part.
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More Valuable Insights on Soft Ferrite Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Soft Ferrite, Sales and Demand of Soft Ferrite, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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