Enjoy complimentary customisation on priority with our Enterprise License!
The soft magnetic material market share is expected to increase by USD 4.22 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.94%.
This soft magnetic material market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers soft magnetic material market segmentation by end-user (electronics, automotive, energy, industrial, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The soft magnetic material market report also offers information on several market vendors, including Daido Steel Co. Ltd., Fluxtrol Inc., GKN Sinter Metals Engineering GmbH, Hengdian Group Holdings Ltd., Hitachi Ltd., Hoganas AB, JFE Holdings Inc., JPMF Guangdong Co. Ltd., Mahindra and Mahindra Ltd., Mate Co. Ltd., Merck KGaA, Nippon Steel Corp., Rio Tinto Ltd., Samwha Electronics, SG Technologies Ltd., Sintered Specialties LLC, Sintex AS, Steward Advanced Materials LLC, TDG Holding Co. Ltd., TDK Corp., Toshiba Corp., and VACUUMSCHMELZE GmbH and Co. KG among others.
Download Report Sample to Unlock the Soft Magnetic Material Market Size for the Forecast Period and Other Important Statistics
The demand from the automobile industry is notably driving the soft magnetic material market growth, although factors such as the high cost associated with the mining of rare-earth metals may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the soft magnetic material industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Soft Magnetic Material Market Driver
One of the key factors driving growth in the soft magnetic material market is the demand from the automobile industry. A massive number of soft magnetic materials are required in modern-day cars, and many applications are expected to become regular features of cars in the future. Soft magnetic materials are essential and indispensable for electro-mechanical devices like motors for automobiles. Silicon-containing Fe-based soft magnetic alloy steels are widely used for such applications. This can be attributed to consumers demanding features like stability, performance, and other attributes of a vehicle. Magnetic materials are potentially used in the body and powertrain components in vehicles. There have been developments in magnetic materials, such as soft magnetic materials owing to the demand of the automotive industry and others. The growing demand for electric vehicles (EVs) has created opportunities for magnetic materials such as soft magnetic materials. The advances in magnetic materials coupled with the growth of hybrid vehicles and EVs will escalate the growth of the market in focus during the forecast period.
Key Soft Magnetic Material Market Trend
The increased applicability in the computer application industry is a soft magnetic material market trend that is expected to have a positive impact in the coming years. An increased emphasis on energy-efficient memory storage in the computer applications sector drives the use of magnetic materials, such as soft magnetic materials. Traditionally, semiconductors were used for short-term memory and processing, which consumed most of the energy. Therefore, scientists across various universities have been researching energy-efficient magnetic materials for data storage. For instance, a professor at Carnegie Mellon University is currently working on a project that focuses on finding ways to use topological protection to improve magnetic materials that are used for computer memory storage. Such innovations and technological breakthroughs have opened up a huge potential for computer technology applications, which is expected to increase the adoption of soft magnetic materials across the computer applications sector.
Key Soft Magnetic Material Market Challenge
The high cost associated with the mining of rare-earth metals will be a major challenge for the soft magnetic material market during the forecast period. Rare-earth materials play a crucial role in the development of soft magnetic materials and semi-hard magnetic materials. However, their production is limited to certain regions, while the demand is widely spread across the world. Currently, rare-earth oxides are mainly produced in countries such as the US and China. As vendors globally depend only on a few countries for their supply of raw materials, any production delays often lead to high price fluctuations, disrupting supply to them. In addition, long realization periods, coupled with uncertain investments, may negatively impact the growth of the market. Long-term investments are required to carry out mining activities and maintain production facilities for transportation, community housing, water, and energy sources. These factors collectively incur high costs and hinder the market growth.
This soft magnetic material market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global soft magnetic material market as a part of the global diversified metals and mining market within the global materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the soft magnetic material market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the soft magnetic material market encompasses successful business strategies deployed by the key vendors. The soft magnetic material market is fragmented and the vendors are deploying growth strategies such as focusing on differentiating themselves from other competitors based on a wide variety of offerings, quality, price points, and attractive discount offers to compete in the market.
daido.co.jp - The company offers soft magnetic materials which are used in choke coils, chip inductors, reactors for vehicle and photovoltaic power generation, electromagnetic clutch, and mixing with resins.
daido.co.jp - Under the specialty steel segment, the company offers stainless steel, high alloy, and magnetic materials, titanium products, and powder metals for automotive and industrial machinery and electrical and electronic parts.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The soft magnetic material market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the soft magnetic material market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.