Soft Magnetic Composites (SMCs) Market -A Compressive Study by Current Updated and Revenue Generation Strategy 2021-2030

Global Soft Magnetic Composites (SMCs) Market to Grow Rapidly due to Increasing Applications in End-use Industries

Compact, high-performance, and cost-effective electromagnetic composites are often made with SMCs. These composites are primarily used in the production of automotive components such as traction motors, air conditioning compressors, pumps, on-board chargers, and other components. The rise of SMCs can be attributed to an increase in demand for solar panels, which has resulted in a domino effect, positively affecting the market room stance of SMCs.

Wireless chargers are being used in a wide variety of applications, including aerospace, consumer electronics, and other industrial equipment, due to the advantages of fast and convenient charging. This wireless charging technology uses SMCs as magnetic materials to integrate an inductive wireless power transfer (WPT) device into drones, thus influencing the global soft magnetic composites market in the future.

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Growth Drivers that Support the Global Soft Magnetic Composites (SMCs) Market:

• Growth in the automotive and energy sectors is expected to provide opportunities for new entrants to the industry. The use of a soft magnetic composite decreases the cost of output. It is commonly used in a number of industries, including automotive, energy production, locomotives, and many others. Over the forecast period, factors such as increased demand for electricity generators, transformers, automotive components, and others are expected to drive the global soft magnetic composite market.
• Soft magnetic composites are likely to remain important in the coming years due to the constant demand for cost-effective and energy-efficient materials from the automotive and power generation industries. Soft magnetic composites are expected to face stiff competition in the global market as new and improved magnetic materials are launched.
• During the forecast period, Asia Pacific is expected to dominate the global soft magnetic composite market. This is due to a strong demand for ferromagnetic content, as well as a high level of acceptance and popularity in these areas. The global soft magnetic composite market is also projected to be dominated by North America. The market is primarily expanding as a result of the region's growing and expanding automotive industries.
• The automotive and power generation industries, where SMCs are used as core materials in actuators and transformers, among other applications, continue to be main revenue generators for SMC manufacturers.
• Soft magnetic composites will continue to gain popularity in both end-use markets, accounting for major share of the market revenue. The surge in laptop and smartphone production in the consumer goods industry is also signalling new growth opportunities for market players.

Major companies functioning in the global Soft Magnetic Composites (SMCs) Market are GKN Sinter Metals, Steward Advanced Materials Inc, Dexter Magnetics, Magnetics, MMG Canada Limited, AMES, Hitachi Metals Ltd, Elna Magnetics, Höganäs AB, Electron Energy Corporation, Arnold Magnetic Technologies Corp

Years Covered in the Study:
Historic Year: 2016-2017
Base Year:2018
Estimated Year: 2019
Forecast Year: 2028

Market Segmentation:
By Product:
• Soft Ferrite
• Electrical Steel

By Application:
• Electronics
• Automotive
• Energy Generation
• Others

By Region:
• North America
◦ North America, by Country
▪ US
▪ Canada
▪ Mexico
◦ North America, by Product
◦ North America, by Application

• Western Europe
◦ Western Europe, by Country
▪ Germany
▪ UK
▪ France
▪ Italy
▪ Spain
▪ The Netherlands
▪ Rest of Western Europe
◦ Western Europe, by Product
◦ Western Europe, by Application

• Asia Pacific
◦ Asia Pacific, by Country
▪ China
▪ India
▪ Japan
▪ South Korea
▪ Australia
▪ Indonesia
▪ Rest of Asia Pacific
◦ Asia Pacific, by Product
◦ Asia Pacific, by Application

• Eastern Europe
◦ Eastern Europe, by Country
▪ Russia
▪ Turkey
▪ Rest of Eastern Europe
◦ Eastern Europe, by Product
◦ Eastern Europe, by Application

• Middle East
◦ Middle East, by Country
▪ UAE
▪ Saudi Arabia
▪ Qatar
▪ Iran
▪ Rest of Middle East
◦ Middle East, by Product
◦ Middle East, by Application

• Rest of the World
◦ Rest of the World, by Country
▪ South America
▪ Africa
◦ Rest of the World, by Product
◦ Rest of the World, by Application

Objectives of this Report:
• To estimate the market size for Soft magnetic composites (SMCs) market on a regional and global basis.
• To identify major segments in Soft magnetic composites (SMCs) market and evaluate their market shares and demand.
• To provide a competitive scenario for the Soft magnetic composites (SMCs) market with major developments observed by key companies in the historic years.
• To evaluate key factors governing the dynamics of Soft magnetic composites (SMCs) market with their potential gravity during the forecast period.

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This release was published on openPR.