Global Soft Magnetic Materials Market is accounted for $62.03 billion in 2021 and is expected to reach $127.18 billion by 2028 growing at a CAGR of 10.8% during the forecast period. Soft magnetic material is popularly used in the motor application as it enhances the field produced by motor winding. Besides, generally iron-based materials are used in motor application that include iron-silicon and iron-cobalt alloys. Soft magnetic materials reduce eddy current loss that leads to increase in the efficiency of the motors.
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On the basis of geography, Asia Pacific is projected to hold the highest market share, owing to the vast power generation sector in China, in addition to the continuous investments done in the province to advance the electronics and automotive sector through the years.
Some of the key players profiled in the Soft Magnetic Materials Market include Rio Tinto PLC, GKN Powder Metallurgy, Höganäs AB, Voestalpine Stahl GmbH, Hitachi Metals Ltd, Toshiba Materials Co., Ltd., Sumitomo Metal Mining Co., Ltd., VACUUMSCHMELZE GmbH & Co. KG, PMG Holding GmbH, Hengdian Group DMEGC Magnetics Co., Ltd.
Materials Covered in Soft Magnetic Materials Market
• Soft Magnetic Composites (SMC)
• Soft Ferrite
• Fe Amorphous
• Nano Crystalline
• Electrical steel
• Cobalt (Nickel Cobalt Alloy)
• Other Materials
Products Covered:
• High Permeability Materials
• Low Power Consumption Materials
• Metal Alloy Soft Magnetic Materials
• Nickel Zinc Material (High Frequency Material)
Applications Covered:
• Transformers
• Motors
• Inductors
• Generators
• Alternators
• Relays
• Solenoids
• Electromagnet
• Led
End Users Covered:
• Automotive
• Electrical & Electronics
• Energy & Power
• Telecommunication
• Other End Users
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