Press release
Europe Nanocrystalline Soft Magnetic Materials Market Outlook 2022 to 2032: Growth Insights with Advanced Technology; Bomatec; Magnetec; Hitachi Metal, Others.
Rising Need for High-Performance Power Electronics
Nanocrystalline soft magnetic materials possess several superior characteristics such as high permeability, enhanced saturation flux density, low core losses, and high resistance to temperature and aging. These properties make them ideally suited for high-frequency power applications. The need for compact and efficient power electronics in sectors such as electric vehicles and renewable energy systems is playing a vital role in accelerating the demand for these materials.
With the continuous miniaturization of electrical components, the noise generated at high frequencies becomes difficult to suppress using conventional magnetic materials. Nanocrystalline materials solve this issue, which positions them as critical components in the design and production of high-performance circuits, inverters, batteries, and DC-DC converters.
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Electric Vehicle Market Fuelling Growth
One of the strongest drivers of the nanocrystalline soft magnetic materials market is the rising adoption of electric vehicles in Europe. According to the International Energy Agency, battery-powered electric vehicle registrations in Europe outpaced those of plug-in hybrids in 2020, with 54% market share. Countries like Germany, France, and the U.K. are heavily investing in green mobility and electrification of transport.
Germany in particular stands out, where the government plans to register 7 to 10 million EVs by 2030. This massive push for electrification is creating robust demand for nanocrystalline materials used in EV powertrains, onboard chargers, transformers, and motors. Fact.MR forecasts that automotive electrification alone could propel the market at a 10% CAGR during the forecast period.
Power Transformers and High-Frequency Applications Gain Traction
Nanocrystalline materials are increasingly replacing traditional materials in high-frequency transformers and reactors due to their low core loss and superior magnetic properties. This shift is crucial in sectors where energy efficiency and miniaturization are paramount, such as telecommunications, aerospace, and consumer electronics.
The anticipated surge in electricity demand-expected to reach 38,700 terawatt-hours by 2050-will significantly expand the market for power transformers. Consequently, the demand for nanocrystalline soft magnetic materials used in these transformers is expected to register a CAGR of 6%, driven by their ability to meet stringent performance requirements.
Semiconductor Industry's Supportive Role
The semiconductor industry has also emerged as a major enabler of growth. According to the Semiconductor Industry Association (SIA), global semiconductor sales hit USD 43.6 billion in May 2021, showing a 26.2% year-on-year increase. As the backbone of consumer electronics and computing technologies, semiconductors rely heavily on magnetic materials for inductors, transformers, and power circuits.
The ongoing advancements in semiconductors, coupled with the growth of AI, 5G, and IoT devices, are expected to further bolster the adoption of nanocrystalline magnetic materials across multiple applications.
Germany Leading the Regional Front
Among European countries, Germany emerges as the most lucrative market for nanocrystalline soft magnetic materials. With a strong automotive base, aggressive EV adoption, and significant government support, Germany is expected to register a CAGR of 10% throughout the forecast period.
Supportive EU policies, combined with Germany's leadership in automotive and industrial manufacturing, create favorable conditions for the nanocrystalline materials market. France, the U.K., Italy, and the BENELUX countries are also expected to play pivotal roles in regional expansion.
Key Players Shaping the Market
The European market is moderately consolidated, with a few major players controlling a significant share. Some of the key companies include:
Advanced Technology
Bomatec
Magnetec
Hitachi Metal
OJSC MSTATOR
VACUUMSCHMELZE (VAC)
These companies are investing in new product development, process optimization, and strategic partnerships to address the growing demand for high-performance magnetic materials. For instance, Magnetec offers a wide range of nanocrystalline products for use in wind turbines, smart grids, and solar inverters, aligning with the renewable energy transition in Europe.
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Market Segmentation Snapshot
By Classification:
One Dimensional
Two Dimensional
Three Dimensional
By Application:
Transformers (Portable, Transmission, Distribution)
Motors (1 HP to Above 1000 HP)
Inductors
Generators
By End Use Industry:
Automotive
Semiconductors
Healthcare
Consumer Electronics
By Country:
Germany
U.K.
France
Italy
Spain
Russia
BENELUX
Poland
Rest of Europe
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Wood Glue Market: https://www.factmr.com/report/wood-glue-market
Industrial Mixer Market: https://www.factmr.com/report/industrial-mixer-market
Metal Glue Market: https://www.factmr.com/report/metal-glue-market
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About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
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