Report Feature
Soft Magnetic Composites Market Trends and Forecast
The future of the soft magnetic composites market looks promising with opportunities in the automotive, industrial machinery & equipment, consumer goods, and power generation industries. The global soft magnetic composites market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028. The major drivers for this market are growing demand for axial flux motors as an application in electric vehicles and rise in the demand for high-performance industrial motors in economically significant end markets.
The future of the soft magnetic composites market looks promising with opportunities in the automotive, industrial machinery & equipment, consumer goods, and power generation industries. The global soft magnetic composites market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028. The major drivers for this market are growing demand for axial flux motors as an application in electric vehicles and rise in the demand for high-performance industrial motors in economically significant end markets.
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Soft Magnetic Composites Market by Segment
The study includes a forecast for the global soft magnetic composites market by material, product type, application, end use industry and region, as follows:
Soft Magnetic Composites Market by Material [Value ($B) shipment analysis for 2017-2028]:
The study includes a forecast for the global soft magnetic composites market by material, product type, application, end use industry and region, as follows:
Soft Magnetic Composites Market by Material [Value ($B) shipment analysis for 2017-2028]:
- Iron
- Soft ferrite
- Electrical steel
Soft Magnetic Composites Market by Product Type [Value ($B) shipment analysis for 2017-2028]:
- 1P
- 2P
- 3P
Soft Magnetic Composites Market by Application [Value ($B) shipment analysis for 2017-2028]:
- Electrical Coils
- Motors
- Generators
- Transformers
- Inductors
- Sensors
- Others
Soft Magnetic Composites Market by End Use Industry [Value ($B) shipment analysis for 2017-2028]:
- Automotive
- Industrial Machinery & Equipment
- Consumer Goods
- Power Generation
- Others
Soft Magnetic Composites Market by Region [Value ($B) shipment analysis for 2017-2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Soft Magnetic Composites Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies soft magnetic composites companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the soft magnetic composite’s companies profiled in this report include.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies soft magnetic composites companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the soft magnetic composite’s companies profiled in this report include.
- GKN Powder Metallurgy
- Höganäs AB
- Hitachi Metals
- Rio Tinto
- Sumitomo Material Mining
- SG Technologies
- Mitsubishi Materials
Soft Magnetic Composites Market Insights
- Lucintel forecasts that electrical steel will remain the largest segment over the forecast period due to availability of the material across all region, and increasing application in different end use industry industries, along with cost-effective nature of the material.
- Automotive is expected to remain the largest segment due to growing per capita income especially in the developing nations, high demand for green hydrogen cells and battery electric vehicles and substantial revenue generation in this sector.
- APAC will remain the fastest growing region due to increasing demand for soft magnetic composites for various applications such as high-performance industrial motors that are intrinsic to industrial units, and constantly increasing presence of strong electronic and automotive sector in countries such as China, India, ASEAN Countries, and Japan.
Features of the Soft Magnetic Composites Market
- Market Size Estimates: Soft Magnetic Composites market size estimation in terms of value ($B)
- Trend And Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Soft magnetic composites market size by various segments, such as by material, product type, application, end use industry and region.
- Regional Analysis: Soft Magnetic Composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different by material, product type, application, end use industry and regions for the soft magnetic composites market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the soft magnetic composites market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the soft magnetic composites market size?
Answer: The global soft magnetic composites market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for soft magnetic composites market?
Answer: The global soft magnetic composites market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the soft magnetic composites market?
Answer: The major drivers for this market are growing demand for axial flux motors as an application in electric vehicles and rise in the demand for high-performance industrial motors in economically significant end markets.
Q4. What are the major segments for soft magnetic composites market?
Answer: The future of the soft magnetic composites market looks promising with opportunities in the automotive, industrial machinery & equipment, consumer goods, and power generation industries.
Q5. Who is the key soft magnetic composites companies?
Answer: Some of the key soft magnetic composites companies are as follows:
Q1. What is the soft magnetic composites market size?
Answer: The global soft magnetic composites market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for soft magnetic composites market?
Answer: The global soft magnetic composites market is expected to grow with a CAGR of 7% to 9% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the soft magnetic composites market?
Answer: The major drivers for this market are growing demand for axial flux motors as an application in electric vehicles and rise in the demand for high-performance industrial motors in economically significant end markets.
Q4. What are the major segments for soft magnetic composites market?
Answer: The future of the soft magnetic composites market looks promising with opportunities in the automotive, industrial machinery & equipment, consumer goods, and power generation industries.
Q5. Who is the key soft magnetic composites companies?
Answer: Some of the key soft magnetic composites companies are as follows:
- GKN Powder Metallurgy
- Höganäs
- Hitachi Metals
- Rio Tinto
- Sumitomo Material Mining
- SG Technologies
- Mitsubishi Materials
Q6. Which soft magnetic composites segment will be the largest in future?
Answer: Lucintel forecasts that electrical steel will remain the largest segment over the forecast period due to availability of the material across all region, and increasing application in different end use industry industries, along with cost-effective nature of the material.
Q7. In soft magnetic composites market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the fastest growing region due to increasing demand for soft magnetic composites for various applications such as high-performance industrial motors that are intrinsic to industrial units, and constantly increasing presence of strong electronic and automotive sector in countries such as China, India, ASEAN Countries, and Japan.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Answer: Lucintel forecasts that electrical steel will remain the largest segment over the forecast period due to availability of the material across all region, and increasing application in different end use industry industries, along with cost-effective nature of the material.
Q7. In soft magnetic composites market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the fastest growing region due to increasing demand for soft magnetic composites for various applications such as high-performance industrial motors that are intrinsic to industrial units, and constantly increasing presence of strong electronic and automotive sector in countries such as China, India, ASEAN Countries, and Japan.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Table of Contents
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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Key Questions
- • What are some of the most promising, high-growth opportunities for the soft magnetic composites market by material (iron, soft ferrite, and electrical steel), product type (1P, 2P, and 3P), application (electrical coils, motors, generators, transformers, inductors, sensors, and others), end use industry (automotive, industrial machinery & equipment, consumer goods, power generation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- • Which segments will grow at a faster pace and why?
- • Which region will grow at a faster pace and why?
- • What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- • What are the business risks and competitive threats in this market?
- • What are the emerging trends in this market and the reasons behind them?
- • What are some of the changing demands of customers in the market?
- • What are the new developments in the market? Which companies are leading these developments?
- • Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- • What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- • What M&A activity has occurred in the last 5 years and what has its impact been on the industry? For any questions related to soft magnetic composites market or related to soft magnetic composites companies, soft magnetic composites market size, soft magnetic composites market share, soft magnetic composites analysis , write Lucintel analyst at email: helpdesk@lucintel.com . We will be glad to get back to you soon.
