Press release
Soft Magnetic Material Market to Reach USD 24.63 Billion by 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
Request a free sample report: https://www.stratviewresearch.com/market-reports/soft-magnetic-material-market
Market Statistics
• Market size (2022): USD 19.75 billion
• Forecast value (2028): USD 24.63 billion
• CAGR: 3.70%
• Forecast period: 2023-2028
• Base year: 2022
• Total number of segments: 3
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
By Product Type: Electrical Steel, Soft Ferrite, Permalloys, Others
By Application Type: Motors, Transformers, Alternators, Others
By Region: North America, Europe, Asia-Pacific, Rest of the World
Segment Analysis
Based on product type, electrical steel is expected to remain the dominant segment during the forecast period due to its extensive use in transformers, generators, and electric motors requiring low core losses and high magnetic permeability. Increasing demand from electric vehicle and energy industries is compelling manufacturers to expand production capacities. For instance, rising investments in high-grade non-oriented silicon steel manufacturing are strengthening supply capabilities for advanced industrial applications, creating long-term opportunities for material suppliers.
By application type, the motors segment is expected to remain the largest demand generator for soft magnetic materials throughout the forecast period. Electric motors are widely used across domestic appliances, industrial drives, transportation systems, and medical equipment where energy efficiency and compact size are critical. The increasing emphasis on reducing energy consumption and carbon emissions is accelerating the adoption of advanced magnetic materials in motor systems, encouraging manufacturers to develop lightweight and high-performance magnetic solutions.
Regional Insights
North America is expected to remain the dominant market for soft magnetic materials during the forecast period due to strong demand for electric motors across industrial processing, refrigeration, pumping, compressed air systems, and material handling applications. The United States continues to drive regional growth through increasing investments in industrial automation and energy-efficient equipment, strengthening demand for advanced magnetic materials across multiple end-use sectors.
Market Drivers
• Rising demand for electric motors in industrial automation, transportation, and medical equipment applications
• Increasing investments in renewable energy generation and efficient power distribution systems
• Growing electric vehicle production requiring high-efficiency magnetic materials for motors and transformers
• Expansion of industrial processing and refrigeration systems driving motor demand across manufacturing industries
• Technological advancements in energy-efficient electrical equipment increasing the adoption of soft magnetic materials
Competitive Landscape
Top Companies in the Market
Arnold Magnetic Technologies
GKN Sinter Metals Engineering GmbH
Hitachi Metals Group
JFE Steel Group
Mahindra CIE
MATE CO., LTD.
Meyer Sintermetall AG
Sintered Specialties LLC
Steward Advanced Materials LLC.
VACUUMSCHMELZE GmbH & Co. KG
FAQs
1. Which industries are generating the highest demand for soft magnetic materials globally?
Automotive, industrial automation, renewable energy, electronics, and medical equipment industries are generating strong demand due to increasing motor and transformer applications.
2. Why are electric vehicle manufacturers increasing investments in soft magnetic materials?
Electric vehicles require energy-efficient motors and powertrain systems, making advanced soft magnetic materials essential for improving performance and reducing energy losses.
3. Which region offers the strongest growth opportunities for soft magnetic material suppliers?
North America offers strong opportunities due to increasing industrial motor demand, automation investments, and expanding adoption of energy-efficient electrical systems.
4. How are renewable energy projects influencing the soft magnetic material market?
Renewable energy systems require efficient transformers, generators, and power conversion equipment, significantly increasing the consumption of advanced magnetic materials.
5. What supply chain challenges are impacting soft magnetic material manufacturers?
Raw material price volatility and increasing demand for high-performance electrical steel and magnetic alloys are creating pressure on manufacturers to optimize sourcing and production efficiency.
Related links :
1. Nitrogen Trifluoride (NF3) market : https://network.musicdiffusion.com/read-blog/98572
2. Fluorosilicic acid market : https://www.wowonder.xyz/read-blog/413204
3. Redispersible polymer powder market : https://www.wowonder.xyz/read-blog/413215
4. plastic antioxidants market : https://zeustrahub.osloop.com/read-blog/87886
5. Medical grade silicone market : https://velog.io/@ellam66/Key-Drivers-Fueling-Medical-Grade-Silicone-Market-Growth
6. Tow prepreg market : https://vintfint.com/blogs/176194/Tow-Prepreg-Market-Industry-Outlook-Across-Key-Regions
7. solder flux market : https://researchnews2025.amebaownd.com/posts/58776849
8. paraformaldehyde market : https://webyourself.eu/blogs/1926501/Key-Drivers-Accelerating-Paraformaldehyde-Market-Growth
9. OLED display panel market : https://www.leenkup.com/read-blog/130398
10. non phthalate plasticizers market : https://note.com/researchnews_07/n/n8e8d537d795f?app_launch=false
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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