Pune, India -- (SBWire) -- 01/21/2020 --Soft magnetic materials are easily magnetized and demagnetized. They are used to improve the flux produced by an electric current. Infinium Global Research has published a report on the soft magnetic materials market. The report provides in-depth information about the soft magnetic materials market which is expected to grow at a CAGR of 8.6% over the forecast period of 2019-2025.
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Growing Demand for Materials Providing Good Permeability Drives the Growth of the Soft Magnetic Materials Industry
The growing demand for materials providing good permeability drives the growth of the soft magnetic materials market. Soft magnetic materials have low coercivity, high electrical resistivity and have lees eddy current losses. The increasing use of soft magnetic materials in different applications such as anti-lock brake systems, fuel injectors, and compressors contributes to the growth of the soft magnetic materials market.
The rising research and development expenditure in developing high energy efficiency vehicles stimulates the growth of the soft magnetic materials market. On the flip side, fluctuations in raw material prices and destabilization of the supply chain hinder the growth of the soft magnetic materials market. Moreover, research and development in soft magnetic materials such as the development of nanostructured soft magnetic materials create numerous opportunities for the growth of the soft magnetic materials market.
Soft Magnetic Materials Market: Segmentation
The global soft magnetic materials market is segmented on the basis of material type, application, and end-user industry. Based on material type, the global soft magnetic materials market is divided into soft ferrite, electrical steel, cobalt, and other material types. The electrical steel segment is expected to have the largest share in the material type segment of the soft magnetic materials market owing to its properties such as high electrical resistivity, electrical insulation, low coercivity, and high permeability.
The application segment includes a motor, transformer, and alternator. Based on the end-user industry, the soft magnetic materials market is classified into automotive, electronics & telecommunications, electrical, and other end-user industries. The automotive industry is anticipated to dominate the end-user industry segment of the soft magnetic materials market.
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Asia-Pacific Region is Anticipated to have a Premium Share in the Global Soft Magnetic Materials Industry
Geographically, the global soft magnetic materials market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific region is anticipated to have a premium share in the global soft magnetic materials market. The growing automotive manufacturers and rising investments in advanced electronics in Asia-Pacific contribute to the growth of the soft magnetic materials market in the Asia-Pacific region. North America is expected to grow in the global soft magnetic materials market with a healthy CAGR over the forecast period. The growing technological advancement in North America drives the growth of the soft magnetic materials market in North America. Europe is growing in the global soft magnetic materials market.
Soft Magnetic Materials Market: Competitive Landscape
The key players in global soft magnetic materials market are Toshiba Materials Co., Ltd., GKN Sinter Metals Inc., Sintex a/s, Hitachi Metals, Ltd., Mate Co., Ltd., Daido Steel Co. Ltd., Steward Advanced Materials LLC, Arnold Magnetic Technologies Corp., Powder Metal Group, Fuxtrol, Inc., and other companies. Companies are investing in research and development that encourages innovations. The leading players in the global soft magnetic materials market are adopting strategies such as mergers, acquisitions, and new product launches that expand their market share.
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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The soft magnetic materials market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the soft magnetic materials market.
