Soft Magnetic Composites (SMCs) Market Analysis & Top Players Steward Advanced Materials Inc, GKN Sinter Metals, Dexter Magnetics, AMES, Elna Magnetics, Hitachi Metals Ltd

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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The top Companies in the keyword Market are:

1. GKN Sinter Metals
2. Steward Advanced Materials Inc
3. Dexter Magnetics
4. Magnetics
5. MMG Canada Limited
6. AMES
7. Hitachi Metals Ltd
8. Elna Magnetics
9. Höganäs AB
10. Electron Energy Corporation
11. Arnold Magnetic Technologies Corp

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.

The report answers the following questions-

1. What is the market share of the major countries in each of the regions?
2. What regions and countries will have the highest growth potential in the forecast period?
3. At what pace is the soft magnetic composites expanding globally and what are the main future developments in this industry?
4. What products and applications are at the top and have a strong potential and growth potential?
5. What are the major soft magnetic composites market players and their competitors?
6. What are the main market drivers and constraints currently acting and will be playing during the period of the forecast?

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Useful findings of soft magnetic composites market research are-

• -Study of historical data.
• -Analysis of existing scenarios in every domestic and national sector.
• -Study of patterns, accessible knowledge and data figures.
• -Use of validated project methods for the next five years.

Statistical analysis, figures and prime data included in the report contains-

• -Market size (current and projected for the last few years)
• -Market share analysis as per different companies)
• -Market forecast)
• -Demand)
• -Price analysis)
• -Market contributions (Size, Share according to geographical boundaries)

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This release was published on openPR.