Soft Magnetic Materials Market to Register a Stout Growth by End 2026

Posted by sanjayhande on November 28th, 2019

According to the report, the global soft magnetic material industry garnered .3 billion in 2018 and is projected to reach .2 billion by 2026, registering a CAGR of 8.8% during the forecast period.

Click Here To Access The Sample Report @

Incentives for market growth
High permeability of soft magnetic materials, rise in demand for electric and hybrid vehicles, and increase in demand in power transmission components are expected to boost the global soft magnetic material market. However, instability in the raw material prices hampers the market growth. On the contrary, development of nanostructured soft magnetic materials is expected to create lucrative opportunities in the near future.

Cobalt segment to manifest fastest CAGR by 2026
The cobalt segment is projected to register the fastest CAGR of 11.2% during the forecast period, owing to its increasing requirement in the batteries used in the electric vehicle. However, the electric steel segment dominated the global soft magnetic material market, contributing nearly two-fifths of the market, as it is used in manufacturing of core of transformer, electric motor, and high-functional automotive component.

Electrical and electronics segment dominated the market
The electric & electronics segment held the largest share in 2018, contributing around one-third of the market, owing to range of applications in DC motors, stepper motors, brushed DC motors, switch reluctance motors, transformers, and alternators. However, the automotive segment is estimated to register the fastest CAGR of 9.6% during the forecast period, owing to high demand for batteries, increasing electric vehicles adoption and production and resulting demand for cobalt, soft magnetic material for high functional automotive components.

North America to portray fastest growth through 2026

The market across North America is projected to register the fastest CAGR of 9.5% during the forecast period, owing to high demand for soft magnetic material in telecommunication, energy and power, and electronics markets and growing trend for miniaturization. However, the market across Asia-Pacific region held the largest share in 2018, contributing more than one-third of the market, owing to increasing adoption of high functional automotive components, development of nanostructured material, and largest electronics and electrical manufacturing base in Japan.

Major market players

  • AMES
  • Daido Steel
  • Grundfos A/S
  • Hitachi, Ltd
  • Mate Co., Ltd.
  • Melrose Industries PLC
  • SG Technologies
  • Sumitomo Metal Mining Co., Ltd.
  • Toshiba Materials Co., Ltd.

Obtain Report Details: 

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Like it? Share it!


About the Author

Joined: October 17th, 2019
Articles Posted: 148

More by this author