Global Demand For Soft Magnetic Composites Is Set To Gain Pace And Witness An Uptake At A Cagr Of 7% By 2030

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 Fact.MR 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.

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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.

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APEJ to Spearhead Soft Magnetic Composites Market

Fact.MR 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.

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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Soft Magnetic Composites Market: Segmentation

Fact.MR has studied the soft magnetic composites market with detailed segmentation on the basis of by product, application, and region.

Product

  • Pure Iron/ Iron Powder
  • Silicon Ferrite
  • Supermalloys
  • Permalloys

Application 

  • Transformers
  • Motors
  • Inductors
  • Generators

Region

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding Japan
  • Middle East & Africa

After reading the  Soft Magnetic Composites Market report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
  • Analyze key regions holding significant share of the total   Soft Magnetic Composites Market revenue.
  • Study the growth outlook of the global   Soft Magnetic Composites Market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use on the   Soft Magnetic Composites Market growth.
  • Investigate the recent R&D projects performed by each   Soft Magnetic Composites Market player.

The Soft Magnetic Composites Market report answers important questions which include:

  • What does the status of the   Soft Magnetic Composites Market?
  • Soft Magnetic Composites Market look like after the forecast period?
  • Which region has the highest contribution to the global   Soft Magnetic Composites Market and why?
  • Which players remain at the top of the Soft Magnetic Composites Market?
  • What opportunities are available for the   Soft Magnetic Composites Market players to expand their production footprint?
  • Which segment has the maximum impact on the Soft Magnetic Composites Market?

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