Press release
United States Soft Magnetic Material Market to hit $3.7 billion by 2034, Iron Powder segment leads with 38.0% market share | Asia pacific holds 52% Global market share | DataM Intelligence
soft magnetic material
The market is driven by the rapid expansion of electric vehicles (EVs) and renewable energy systems, which demand high-efficiency magnetic components for power conversion. Additionally, increasing demand for miniaturized and high-performance electronics in consumer and industrial applications fuels the need for advanced soft magnetic materials.
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United states industry development
✅ Arnold Magnetic Technologies launched NanoCore Soft Magnetic Alloy in March 2025, designed for high-frequency transformers and electric vehicle motors with reduced energy loss.
✅ Hitachi Metals U.S. introduced HiSoft Amorphous Ribbon 2025 in May 2025, targeting efficient power electronics, renewable energy, and industrial motor applications.
✅ VACUUMSCHMELZE USA released VACOFLUX Advanced Powder Cores in August 2025, optimized for high saturation flux density and minimal core loss in automotive and industrial applications.
Japan industry developmen
✅ Hitachi Metals Japan launched NanoRibbon XM-2025 in February 2025, a soft magnetic ribbon for compact transformers and next-generation EV inverters.
✅ Mitsubishi Electric Materials introduced EcoSoft Magnetic Powder in April 2025, engineered for high-efficiency inductors and renewable energy systems.
✅ Fujikura Ltd. released Soft Magnetic Composite Cores in June 2025, designed for miniaturized electronic devices and industrial automation systems.
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Recent M&A data:-
⇥ VACUUMSCHMELZE acquired NanoCore Technologies: Completed in March 2025 for approximately USD 410 million, strengthening its high-performance soft magnetic alloys and advanced powder core portfolio.
⇥ Arnold Magnetic Technologies acquired HiSoft Japan Unit: Closed in May 2025, expanding Arnold's global footprint in high-efficiency amorphous and nanocrystalline magnetic materials.
⇥ Hitachi Metals acquired SoftMag Global Assets: Completed in February 2025, adding 3D soft magnetic composites and high-frequency ribbon technologies for automotive and industrial applications.
⇥ Mitsubishi Electric Materials acquired EcoSoft Core Solutions: Closed in June 2025, enhancing R&D and production capabilities for low-loss, high-saturation magnetic cores used in EVs and renewable energy systems.
🔹 Market segmentation with Market share -
Material Type:
Iron Powder leads with 38.0% market share in soft magnetic composites, valued for availability, cost-effectiveness, and magnetic properties.
Electrical Steel is dominant overall due to high magnetic permeability, low core loss, critical for motors, transformers, and generators.
Soft Ferrite and other materials occupy smaller shares but have specialized applications.
Type Segment:
5P composites take 42% market share due to superior magnetic performance, thermal stability, and efficiency benefits.
1P and 3P composites share the rest of the market, used in less demanding or cost-sensitive applications.
🔹 Regional insights-
⇥ Asia-Pacific dominates the Soft Magnetic Material Market, holding a market share of over 52% in 2024, valued at approximately USD 21.09 billion. Growth is driven by China's massive manufacturing base, rapid adoption of electric vehicles, and substantial investments in renewable energy infrastructure. China produces over 55% of the global electrical steels and supports market expansion with its USD 350 billion State Grid Corporation investment plan (2021-2025).
⇥ China leads within Asia-Pacific, contributing significantly to the global market due to its advanced manufacturing capabilities, large-scale EV adoption, and government backing for green technology, with a CAGR of around 6.3% expected through 2035.
⇥ Europe holds about a 32% market share in 2025, with Germany leading at 32.1%, supported by a strong automotive industry and electric vehicle demand. France (18.4%), the UK (16.2%), Italy (11.8%), and Spain (8.9%) also contribute, propelled by renewable energy infrastructure and automotive electrification.
⇥ North America accounts for roughly 15% of the market, with the US showing steady growth at about 6.5% CAGR, driven by energy-efficient motor adoption, renewable energy developments, and government initiatives promoting sustainable technologies.
🔹 Market Drivers:-
⇥ Rising Demand in Electric Vehicles (EVs):
Soft magnetic materials are essential for motors, transformers, and inductors in EVs, driving demand with the global EV market growth.
⇥ Growth of Renewable Energy Sector:
Increasing use in wind turbines, solar inverters, and smart grids boosts the need for efficient magnetic components.
⇥ Expansion of Electronics and Electrical Industry:
High adoption in transformers, inductors, sensors, and power electronics for consumer electronics, industrial equipment, and data centers.
⇥ Technological Advancements:
Development of high-performance materials like nanocrystalline and amorphous alloys improves efficiency and reduces energy losses, encouraging adoption.
⇥ Government Initiatives and Energy Efficiency Regulations:
Policies promoting energy-efficient devices and reduced carbon emissions drive manufacturers to use soft magnetic materials in electrical equipment.
🔹 Emerging players :-
⇥ Höganäs AB: Known for its strong expertise in powder metallurgy, Höganäs AB leads with innovative soft magnetic composite solutions primarily focused on industrial applications and automotive sectors.
⇥ Rio Tinto Metal Powders: This company specializes in high-quality metal powders for soft magnetic composites, emphasizing supply chain reliability and advanced material properties that cater to electric vehicles and electronics industries.
⇥ Hitachi Metals Ltd.: A major player focusing on advanced soft magnetic materials designed for automotive and electronics applications, with continuous innovations to improve material performance and efficiency.
⇥ GKN Powder Metallurgy: Offers engineered soft magnetic materials combining powder metallurgy know-how with application-specific performance, serving automotive, industrial, and renewable energy sectors.
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