The increasing global population, growing manufacturing activities and rapid infrastructural developments increase the demand of soft magnetic materials in the power and energy sector. Among all other segments, “electrical steel” accounted for the largest revenue share of over 60.0% in 2019. Furthermore, Iron-silicon alloys are also used for several applications such as transformer cores because silicon helps reduce the length of magnetization and enhance the electric resistivity. Also, growing investments in medical equipment production are propelling production of motors, transformers, electric vehicles manufacturing, power transmission sector, and generators are expected to boosting the demand for soft magnetic materials globally.

Data Bridge Market Research analyses that the soft magnetic material market is expected to undergo a CAGR of 9.30% during the forecast period. This indicates that the market value, which was USD 61.76 billion million in 2021, would rocket up to USD 125.80 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

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Market Definition

Soft magnetic materials are those materials which are easily magnetised and demagnetised. They usually have less than 1000 Am-1 intrinsic coercivity. They are mainly used to increase the flux which has produced by an electric current. The traditional soft magnetic materials such as Si-steel, soft ferrite and electronic iron, have been used for more than or almost one centenary. Even the most recent soft magnetic materials are nanocrystalline and amorphous alloys.

Competitive Landscape and Soft Magnetic Material Market Share Analysis

The soft magnetic material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to soft magnetic material market.

Some of the major players operating in the soft magnetic material market are:

  • SG Technologies (U.K.)
  • VACUUMSCHMELZE GmbH & Co. KG (Germany)
  • Steward Advanced Materials LLC. (U.K.)
  • MATE CO., LTD (Germany)
  • KN Powder Metallurgy (Germany)
  • Hitachi Metals, Ltd (Japan)
  • Sintex (Denmark)
  • Toshiba Materials Co Ltd, (Japan)
  • AMES (Spain), Daido Steel (Japan)
  • Fluxtrol Inc, (U.S.)
  • FJ Industries A/S (Denmark)
  • Arnold Magnetic Technologies (U.S.)
  • voestalpine High Performance Metals GmbH (Austria)
  • BMW AG (Germany)
  • FCA US LLC (U.S.)


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Global Soft Magnetic Material Market Scope

The soft magnetic material market is segmented on the basis of material type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material Type                     

  • Soft Magnetic Composites (SMC)
  • Pure Iron/Iron Powder
  • Silicon Ferrite
  • Supermalloy
  • Permalloy
  • Electrical Steel
  • Soft Ferrite
  • Cobalt
  • Others
  • Application
  • Motors
  • 1hp-100hp
  • 101hp-200hp
  • 201hp-1000hp
  • Above 1000hp
  • Transformers
  • Portable
  • Transmission
  • Distribution
  • Alternators
  • Others

End User

  • Automotive
  • Electronics and Telecommunications
  • Electrical
  • Others

Soft Magnetic Material Market Regional Analysis/Insights

The soft magnetic material market is analysed and market size insights and trends are provided by country, material type, application and end user as referenced above.

The countries covered in the soft magnetic material market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the soft magnetic material market in the forecast period due to rising electronics, automotive and telecommunications industries in this region on a wide range

North America and Europe are expected to be the fastest developing region during the forecast period of 2022-2029 due to the availability of cheap labour force coupled with a goal to target untapped market areas of this region.

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