The new report by Expert Market Research titled, ‘Global Amorphous Soft Magnetic Materials Market Growth, Size, Share, Analysis, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global amorphous soft magnetic materials market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 83%
The increasing demand for amorphous soft magnetic materials for the manufacturing of transformer has been a major driver for the market growth. Over the forecast period, the increasing application of transformer for the manufacturing of steel, manufacturing of metals, such as zinc and aluminium, development of battery switches, and increasing demand for coolants, rectifiers, ACs, stabilisers, and ammeters is anticipated to propel the market growth.
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In addition to this, the rising application of amorphous soft magnetic materials in the manufacturing of medical equipment, such as CT-Scanner, MRI machines, and ventilators, among others is likely to be a major aiding factor of the market in the forecast period. Geographically, North America accounts for a significant share in the market owing to the growing expansion of the key end-use industries and strong foothold of major market players in the region.
Amorphous Soft Magnetic Materials Industry Definition and Major Segments
Amorphous soft magnetic materials refer to the materials which have low coercivity, high initial/maximum permeability, high Curie temperature, and low power loss. These materials can be easily magnetised and demagnetised. The magnetic properties of the product makes them ideal for the manufacture of transformers, shielding, high0frequency inductors, and sensors, among others.
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On the basis of type, the market has been segmented into:
- Iron-based
- Fe-Ni-based
- Cobalt-based
- Others
The significant applications of the product include:
- Flexible Antenna
- Transformers
- Magnetic Sensors
- Magnetic Shielding
- Electronic Article Surveillance
- Others
The regional markets for amorphous soft magnetic materials include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Amorphous Soft Magnetic Materials Market Trends
The growing efforts and R&D activities by the major end-use industries to avoid the core loss of electricity, coupled with the stringent government regulations to conserve electricity, are likely to be the key trends guiding the growth of the market in the forecast period. Meanwhile, the continuous research and development activities aimed towards combining the amorphous soft magnetic materials and amorphous nanocrystalline alloys to achieve outstanding magnetic properties is anticipated to be another key trend likely to aid the market in the forecast period.
Key Market Players
The major players in the market are Toshiba Materials Co., Ltd., VACUUMSCHMELZE GmbH & Co. KG, Hitachi Metals, Ltd., Bomatec AG, Advanced Technology & Materials Co., Ltd., and MK Magnetics, Inc., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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