Global Soft Magnetic Materials Market Forecasts to 2030
Overview of Global Soft Magnetic Materials market:
According to Stratistics MRC, the Global Soft Magnetic Materials Market is accounted for $89.98 billion in 2024 and is expected to reach $189.33 billion by 2030 growing at a CAGR of 13.2% during the forecast period. Soft magnetic materials are essential components in electrical engineering and electronics due to their unique ability to magnetize and demagnetize quickly and efficiently in response to changing magnetic fields. Unlike hard magnetic materials, which retain their magnetization once magnetized, soft magnetic materials exhibit high permeability and low coercivity, making them ideal for applications where rapid and reversible magnetization is necessary, such as in transformers, electric motors, inductors, and magnetic shielding.
This report analyzes the Soft Magnetic Materials market from 2022 to 2030. It uses a combination of detailed sales and revenue data with insights from industry experts. The report goes beyond just market size and growth rate. It also dives into different market segments, such as Region, Material and End User. This provides a comprehensive picture of how the market breaks down across various categories.
As COVID-19 has reshaped the world economy, our team has been keeping a careful eye on its effects on the market. Beyond the pandemic, we take into account other important variables such as the general state of the economy, local conflicts, and news and regulations unique to the industry. This guarantees a comprehensive perspective on the market.
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Market Dynamics:
Driver:
Development and modernization of infrastructure
The development and modernization of infrastructure have significantly enhanced the demand and application of soft magnetic materials. These materials, known for their ability to efficiently direct and control magnetic fields, are crucial components in a wide array of infrastructure-related technologies. Advancements in infrastructure, such as smart grids, renewable energy systems, electric vehicles, and telecommunications networks, require efficient management and conversion of electrical energy, which relies heavily on soft magnetic materials.
Restraint:
High cost of raw materials
However, the primary raw materials used in their production, such as iron, nickel, cobalt, and various alloys, have experienced price increases in recent years. This escalation in costs directly impacts manufacturers, leading to higher production expenses and ultimately influencing the final product prices. As a result, companies face challenges in maintaining competitive pricing and profitability. Fluctuations in raw material costs can disrupt supply chains and production planning, further complicating efforts to meet market demand consistently.
Opportunity:
Rising demand from emerging economies
The increasing demand from emerging economies is significantly bolstering the market for soft magnetic materials. Emerging economies like India, China, Brazil, and others are experiencing rapid industrialization and urbanization, driving up the need for efficient energy solutions and advanced electronic equipment. Soft magnetic materials, known for their ability to quickly magnetize and demagnetize, are essential in improving the efficiency and performance of these devices. Moreover, as these economies focus on renewable energy expansion and electric vehicle production, the demand for soft magnetic materials further intensifies. Manufacturers are innovating to meet this growing demand by developing materials with improved magnetic properties, durability, and cost-effectiveness.
Threat:
Limited availability of rare earth elements
The limited availability of rare earth elements poses a significant challenge to the development and production of soft magnetic materials. These materials, crucial for applications in electronics, telecommunications, and renewable energy technologies like wind turbines and electric vehicles, rely heavily on rare earth elements such as neodymium, dysprosium, and samarium for their magnetic properties. However, these elements are not only scarce but also geographically concentrated, with a significant portion of global supply coming from a few countries, particularly China. This concentration creates supply chain vulnerabilities and price volatility, impacting industries that depend on consistent access to these materials.
Covid-19 Impact:
The COVID-19 pandemic significantly affected the soft magnetic materials sector. Supply chains experienced disruptions due to factory closures, transportation restrictions, and reduced workforce capacity, leading to delays in material production and distribution. Market uncertainties caused by fluctuating demand and raw material shortages further complicated the situation. Additionally, the shift towards remote work and reduced industrial activities initially dampened overall demand but later saw a recovery as industries adapted to new operational norms.
The Permalloy segment is expected to be the largest during the forecast period
Permalloy segment is expected to be the largest during the forecast period. Permalloy, a type of soft magnetic material, is significantly contributing to the growth of the soft magnetic materials market. It is an alloy typically composed of iron and varying amounts of nickel (around 20-80%) and exhibits excellent magnetic properties such as high permeability, low coercivity, and low core loss. The demand for Permalloy segments is rising due to its ability to enhance the performance and efficiency of electronic devices and power systems, particularly in industries like telecommunications, automotive, and renewable energy.
The Industrial segment is expected to have the highest CAGR during the forecast period
Industrial segment is expected to have the highest CAGR during the forecast period. Soft magnetic materials, such as iron-silicon alloys and ferrites, play a crucial role in the efficient operation of electric motors, transformers, and electromagnetic devices. Their ability to magnetize and demagnetize rapidly with minimal energy loss (low hysteresis) makes them ideal for applications requiring frequent magnetic field changes, like in high-frequency transformers and electric vehicle motors. Recent developments focus on improving the magnetic properties of these materials through alloying, microstructural control, and processing techniques. This enhancement aims to achieve higher magnetic permeability, lower coercivity, and reduced core losses, thereby increasing the efficiency and reliability of industrial equipment.
Region with largest share:
Asia Pacific region commanded the largest share of the market over the projection period. As governments and industries prioritize sustainability and energy efficiency, the demand for soft magnetic materials has grown significantly. Countries like China, Japan, South Korea, and India are at the forefront of this market expansion, driven by rapid industrialization, urbanization, and the adoption of advanced technologies. Moreover, initiatives promoting renewable energy sources further bolster the demand for soft magnetic materials in power generation and distribution systems.
Region with highest CAGR:
Europe region is estimated to witness profitable growth during the extrapolated period. Through stringent environmental standards and supportive policies, European governments are fostering innovation and sustainable practices within the industry. Regulations such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) ensure the safe use of materials, promoting cleaner production methods and reducing environmental impact. Moreover, initiatives aimed at promoting research and development in advanced materials technology are bolstering the competitiveness of European firms in global markets.
Key players in the market
Some of the key players in Soft Magnetic Materials market include Dexter Magnetic Technologies, Electron Energy Corporation, Carpenter Technology Corporation, Mitsubishi Materials Corporation, TDK Corporation, Hitachi Metals, Ltd, Voestalpine AG, Mate Group and Intermetallics India Pvt. Ltd.
?Key Developments:
In January 2022, Daido Steel Co., Ltd. has introduced a new product, called STARPAS-50PC2S permalloy foil, which is designed to effectively suppress EMC noise, particularly magnetic noise, at low frequencies below approximately 100kHz. This noise is usually caused by higher frequencies in communication and IoT devices, as well as electric automobiles.
In January 2022, JFE Steel Corporation has also launched Denjiro, which is an insulation-coated pure iron powder for soft magnetic composites. This product is ideally suited to axial gap motors and has been added to their broad lineup of soft magnetic materials.
Leading Industry Players in the Soft Magnetic Materials market worldwide:
- Dexter Magnetic Technologies??
- Electron Energy Corporation??
- Carpenter Technology Corporation??
- Mitsubishi Materials Corporation??
- TDK Corporation? ?
- Hitachi Metals, Ltd??
- Voestalpine AG??
- Mate Group??
- Intermetallics India Pvt. Ltd
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Global Soft Magnetic Materials Market Segmentation
The Soft Magnetic Materials market segmentation encompasses various dimensions, including Material, End User, region, and competitors. By Material, Soft magnetic materials exhibit unique properties, enabling efficient energy conversion and electromagnetic performance across applications. The market is segmented by End User, Various industries utilize soft magnetic materials, enhancing performance in electronics, automotive, and renewable energy sectors. Geographically, the market is segmented into major regions such as North America, Europe, Asia Pacific, South America, the Middle East and Africa, each exhibiting different market dynamics and growth opportunities. Competitor analysis reveals the competitive landscape, with major players developing new products, strategic partnerships, mergers and acquisitions, and competing for market share. Additional segmentation factors provide a comprehensive understanding of the Soft Magnetic Materials market's structure and potential.
Geographic Regions Covered:
North America: United States, Canada, and Mexico.
Europe: Germany, United Kingdom, Italy, France, Spain, and Rest of Europe.
Asia Pacific: Japan, China, India, Australia, New Zealand, South Korea, and Rest of Asia Pacific.
South America: Argentina, Brazil, Chile, and Rest of South America.
Middle East & Africa: Saudi Arabia, United Arab Emirates, Qatar, South Africa and Rest of Middle East & Africa.
Key Questions Answered in This Report:
- What are the primary drivers of growth in the Soft Magnetic Materials market?
- Which regions are projected to experience the highest growth in the Soft Magnetic Materials market?
- What is the anticipated Compound Annual Growth Rate (CAGR) for the Soft Magnetic Materials market from 2024 to 2030?
- What is the current estimated value of the global Soft Magnetic Materials market?
- Which segment holds the largest market share and what are the main factors driving its growth?
- What is the size and growth rate of the Soft Magnetic Materials market in specific regions or market segments?
- Who are the leading players in the Soft Magnetic Materials market?
- What challenges do companies face when entering the Soft Magnetic Materials market?
- What risks and opportunities are associated with expanding the Soft Magnetic Materials market?
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Table of Contents (TOC) for the Global Soft Magnetic Materials Market Research Report (2024-2030)
1 Executive Summary ? ??? ? ??
2 Preface ? ???
2.1 Abstract ? ??
2.2 Stake Holders ? ??
2.3 Research Scope ? ??
2.4 Research Methodology ? ??
2.4.1 Data Mining ???
2.4.2 Data Analysis ???
2.4.3 Data Validation ???
2.4.4 Research Approach ???
2.5 Research Sources ? ??
2.5.1 Primary Research Sources ???
2.5.2 Secondary Research Sources ???
2.5.3 Assumptions ??? ? ??
3 Market Trend Analysis???
?3.1 Introduction??
?3.2 Drivers??
?3.3 Restraints??
?3.4 Opportunities??
?3.5 Threats??
?3.6 End User Analysis??
?3.7 Emerging Markets??
?3.8 Impact of Covid-19?? ?????
4 Porters Five Force Analysis???
?4.1 Bargaining power of suppliers??
?4.2 Bargaining power of buyers??
?4.3 Threat of substitutes??
?4.4 Threat of new entrants??
?4.5 Competitive rivalry?? ?????
5 Global Soft Magnetic Materials Market, By Material???
?5.1 Introduction??
?5.2 Electrical Steel??
?5.3 Permalloy??
?5.4 Ferrite??
?5.5 Cobalt??
?5.6 Iron??
?5.7 Other Materials?? ?????
6 Global Soft Magnetic Materials Market, By End User???
?6.1 Introduction??
?6.2 Automotive??
?6.3 Energy??
?6.4 Industrial??
?6.5 Telecommunications??
?6.6 Other End Users? ??????????????????????????????
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Continued…
List of Tables ? ? ?
1 Global Soft Magnetic Materials Market Outlook, By Region (2022-2030) ($MN)???
2 Global Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)???
3 Global Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)???
4 Global Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)???
5 Global Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)???
6 Global Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)???
7 Global Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)???
8 Global Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)???
9 Global Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)???
10 Global Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)???
11 Global Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)???
12 Global Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)???
13 Global Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)???
14 Global Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)???
15 North America Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)???
16 North America Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)???
17 North America Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)???
18 North America Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)???
19 North America Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)???
20 North America Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)???
21 North America Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)???
22 North America Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)???
23 North America Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)???
24 North America Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)???
25 North America Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)???
26 North America Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)???
27 North America Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)???
28 North America Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)???
29 Europe Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)???
30 Europe Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)???
31 Europe Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)???
32 Europe Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)???
33 Europe Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)???
34 Europe Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)???
35 Europe Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)???
36 Europe Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)???
37 Europe Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)???
38 Europe Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)???
39 Europe Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)???
40 Europe Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)???
41 Europe Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)???
42 Europe Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)???
43 Asia Pacific Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)???
44 Asia Pacific Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)???
45 Asia Pacific Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)???
46 Asia Pacific Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)???
47 Asia Pacific Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)???
48 Asia Pacific Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)???
49 Asia Pacific Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)???
50 Asia Pacific Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)???
51 Asia Pacific Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)???
52 Asia Pacific Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)???
53 Asia Pacific Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)???
54 Asia Pacific Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)???
55 Asia Pacific Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)???
56 Asia Pacific Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)???
57 South America Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)???
58 South America Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)???
59 South America Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)???
60 South America Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)???
61 South America Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)???
62 South America Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)???
63 South America Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)???
64 South America Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)???
65 South America Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)???
66 South America Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)???
67 South America Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)???
68 South America Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)???
69 South America Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)???
70 South America Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)???
71 Middle East & Africa Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)???
72 Middle East & Africa Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)???
73 Middle East & Africa Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)???
74 Middle East & Africa Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)???
75 Middle East & Africa Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)???
76 Middle East & Africa Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)???
77 Middle East & Africa Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)???
78 Middle East & Africa Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)???
79 Middle East & Africa Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)???
80 Middle East & Africa Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)???
81 Middle East & Africa Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)???
82 Middle East & Africa Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)???
83 Middle East & Africa Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)???
84 Middle East & Africa Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)
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