Soft Magnetic Materials Market Expected to Witness a Massive Growth over 2026 | AMES, Daido Steel, Grundfos A/S, Hitachi, Ltd, Mate Co., Ltd

The global soft magnetic materials market was valued at $47.3 billion in 2018 and is projected to reach $87.2 billion by 2026, growing at a CAGR of 8.8% from 2019 to 2026.

Some of the key players of Soft Magnetic Materials Market:

AMES, Daido Steel, Grundfos A/S, Hitachi, Ltd, Mate Co., Ltd, Melrose Industries PLC, SG Technologies, Sumitomo Metal Mining Co., Ltd., Toshiba Materials Co., Ltd.

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Soft magnetic materials have the efficiency to be easily magnetized and demagnetized. They typically have intrinsic coercivity less than 1000 Am-1 and are used primarily to enhance the flux produced by an electric current. Soft magnetic materials are extensively used in various applications such as electric motors, receipt of radio signals, electrical power generation and transmission, microwaves, relays, solenoids, magnetic shielding and electromagnets.

The global soft magnetic materials market has witnessed significant growth in the recent years, owing to rise in the global automotive industry and increase in demand for electric vehicles. Owing stringent government environmental policies, automobile manufacturers are now focusing more on producing light weight and reducing dependency on conventional fuel to curb carbon dioxide emission. Soft magnetic materials are widely used in electric motors. Surge in demand and rise in production of electric vehicles has led to increase in demand for electric motors.

This factor is anticipated to eventually increase the demand for soft magnetic materials and is projected to drive the growth of this market. In addition, soft magnetic materials are also used in brushless DC motors, which are primarily used in various industrial applications such as linear motors, servo motors, actuators for industrial robots, extruder drive motors and feed drives for CNC machine tools. Due to rapid industrialization across emerging economies, the demand for brushless DC motors is expected to increase considerably resulting in surge in demand for soft magnetic materials. These factors are estimated to drive the growth of the soft magnetic materials market.

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What the report features:-

1.Global analysis of Soft Magnetic Materials Market from 2019 – 2026 illustrating the progression of the market.
2. Forecast and analysis of Soft Magnetic Materials Market by Dosage, Route of Administration and Application from 2019 – 2026.
3.Forecast and analysis of Soft Magnetic Materials Market in five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.

Reason to Buy:

1.Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Soft Magnetic Materials Market.
2. Highlights key business priorities in order to assist companies to realign their business strategies.
3. The key findings and recommendations highlight crucial progressive industry trends in the Soft Magnetic Materials Market, thereby allowing players to develop effective long term strategies.
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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This release was published on openPR.