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Global Soft Magnetic Materials Analysis with Key Players, Applications, Trends and Forecasts by 2024
Browse a overview of this report @ www.psmarketresearch.com/market-analysis/soft-magnetic-materials-market
On the basis of end-user, the market has been categorized into electronics and telecommunications, automotive and electrical. The automotive industry uses the soft magnetic materials for anti-lock brake systems, fuel injectors, motors, compressors and various rotating devices. On the basis of application, the market has been segmented into motors, transformers and alternators.
The global soft magnetic materials market is expected to witness significant growth, during the forecast period, on account of increasing demand from automotive industry, new product development, and increasing application in motors, transformers and alternators. Additionally, increasing demand from the developing nations is offering new growth opportunities for the global soft magnetic materials manufacturers. Contrary to it, fluctuation in raw material prices is expected to have adverse ripple effects on the growth of the global soft magnetics materials market.
The North American market is expected to witness significant growth driven by technological advancement in the field of soft magnetic materials during the forecast period. The European region is expected to witness steady growth in the global soft magnetic materials market, during the forecast period. The European region acts as an epicenter for the global automotive manufacturing companies
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Some of the key companies in the global soft magnetic materials market are Hitachi Metals Co. Ltd., Toshiba Materials Co. Ltd., Daido Steel Company Ltd, Steward Advanced Materials, Sintex a/s, Vacuumschmelze GmbH & C0. Kg, GKN Sinter Metals, and Mate Co. Ltd.
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