Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Ferrite Cores Market size was estimated at USD 4.77 billion in 2024 and is expected to surpass USD 10.05 billion by the end of 2037, rising at a CAGR of 5.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of ferrite cores is assessed at USD 5.05 billion.
The ferrite cores market expansion is driven by the expanding demand for electronic devices, the growing usage of renewable energy sources, and the rising popularity of electric vehicles. Transformers, inductors, power supply, and filters are just a few of the many electrical devices that require ferrite cores. It is anticipated that the growing use of renewable energy sources, electric vehicles, and industrial automation will fuel ferrite core demand in the upcoming years.
The rising emphasis of manufacturers is to produce components in India, with a focus on Made in India. Since ferrites are frequently utilized in electrical components, the manufacturing industry needs to place greater attention on and value them. Cosmo Ferrites is already working to increase capacity by 50% starting in the first quarter of the upcoming fiscal year. This expansion began in the second quarter of this year, and the company plans to increase the manufacturing capacity of soft ferrites by 50% starting in the first quarter of the following fiscal year. Cosmo Ferrites, which is already a leader in soft ferrites in India and exports to more than 50 countries worldwide, will keep assessing and growing to secure a respectable portion of the global market given the strong drive to enhance electronics production in India.
Ferrite Cores Market: Growth Drivers and Challenges
Growth Drivers
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Rising use of ferrite cores in the healthcare industry: The increased demand for ferrite cores in the healthcare industry is driving market expansion. Enhanced ferrite cores are used as a contrast agent for magnetic resonance imaging (MRI) and medical X-ray diagnosis. Growth in the market is also fueled by the expanding applications of MRI technology, particularly in the diagnosis of cancer.
The ferrite cores market expansion is further aided by the extensive use of ferrite cores in a wide range of medical applications. Ferrite cores are utilized in transformers in power supplies for medical devices. They aid in lowering heat production and increasing efficiency, particularly in high-power applications. The ferrite cores market is also expanding as a result of government spending on the healthcare sector and technical advancements in the field. According to the American Medical Association, Health spending in the U.S. increased by 4.1% in 2022 to USD 4.5 trillion or USD 13,493 per capita. - Rapid expansion of the telecommunication sector: The telecommunications sector's explosive growth following the rollout of 5G networks. The growth in demand for high-frequency components has led to a rise in the need for ferrite cores, which are utilized in antennas and radio frequency devices. Inductors require a core that can effectively accommodate the high frequencies used in telecom networks. EP cores, which are usually composed of iron powder or ferrite, are perfect for telecom applications since they have minimal core losses and work well in high-frequency settings. Despite their excellent performance, telecom inductors are capable of remaining small due to the compact design of EP cores. This is essential in telecom systems where cost-effectiveness is a major consideration and space is restricted.
Challenges
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Volatility in raw material prices: The volatility of raw material prices is one of the main factors limiting the global ferrite cores market. Iron oxide, nickel, and zinc are common materials used to make ferrite cores, and their prices might vary depending on supply and demand. Price fluctuations can have a big effect on production costs, which lowers businesses' profit margins. Price fluctuations for raw materials can have an impact on ferrite core makers' profitability and make it challenging to predict consumer prices.
- Availability of alternative material: The availability of alternative materials, including composites and powdered iron cores, presents a threat to competition, especially for applications that call for affordable and lightweight solutions. In some circumstances, new materials that might be more effective or less expensive are being developed. Ferrite cores must continue to improve or become more affordable to remain competitive.
Ferrite Cores Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.9% |
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Base Year Market Size (2024) |
USD 4.77 billion |
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Forecast Year Market Size (2037) |
USD 10.05 billion |
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Regional Scope |
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Ferrite Cores Segmentation
Type (Soft Ferrite Cores and Hard Ferrite Cores)
The soft ferrite cores segment in ferrite cores market is projected to gain a 71.2% share through 2037. Soft ferrite cores are preferred for their magnetic characteristics, which provide efficient performance in transformers and inductors. They are a preferred option for a variety of electrical devices due to their versatility in high-frequency operations, which accounts for their widespread usage.
Hard Ferrite Cores, on the other hand, have their place even though their market share is smaller. They are used in industries that need strong magnetic components due to their reputation for reliability and longevity. This chapter highlights the importance of resistance to demagnetization in particular electrical applications by serving sectors where it is essential.
Soft Ferrite Cores are preferred in the market due to their efficiency and versatility, particularly in contemporary electronic gadgets that require the best electromagnetic performance. Hard Ferrite Cores' existence, however, suggests a varied market that serves a range of applications with various needs.
Material (Manganese-Zinc (Mn-Zn) Ferrite Cores and Nickel-Zinc (Ni-Zn) Ferrite Cores)
Based on the material, the manganese-zinc (Mn-Zn) ferrite cores market segment is likely to hold a noteworthy share by the end of 2037. Since Mn-Zn ferrite cores have well-known and versatile magnetic properties, they are a preferred choice in many electrical applications. In transformer and inductor applications, high magnetic permeability is required, as this material works remarkably well.
On the other hand, while having a smaller market share, nickel-zinc (Ni-Zn) ferrite cores are essential. Ni-Zn ferrite cores are used in high-frequency equipment such as RF transformers and are known for their exceptional frequency characteristics. This category serves certain electronic requirements where effective electromagnetic performance at high frequencies is critical.
The ferrite cores market environment highlights manganese-zinc ferrite cores' supremacy, which is indicative of their wide range of applications and effectiveness in many electronic devices. Nonetheless, the availability of nickel-zinc ferrite cores highlights how flexible the market is in meeting specific needs, guaranteeing a wide choice of electronics industry solutions.
Our in-depth analysis of the global ferrite cores market includes the following segments:
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Customize this ReportFerrite Cores Industry - Regional Scope
Asia Pacific Market Forecast
Asia Pacific is expected to lead the ferrite cores market with a share of 43.4% during the forecast period. This is due to the presence of significant consumer electronics manufacturers in the region, as well as rising consumer electronics demand. The need for ferrite cores in the area is also anticipated to be driven by the growing use of electric vehicles and renewable energy sources.
India has seen remarkable growth in the ferrite cores market, renowned for its cutting-edge electronics sector. The demand for ferrite cores in the nation is also anticipated to be driven by the increasing use of electric vehicles and renewable energy sources such as solar power. The need for ferrite cores in the nation is also anticipated to be driven by solar power. In November of last year, the government picked 42 companies under the PLI Scheme for White Goods to increase Indian air conditioner and LED component production and exports. The USD 300 billion electronics production strategy paper, which the government unveiled in January, intends to establish electronics as India's third-largest export category by rapidly increasing exports from the current USD 10.6 billion to USD 120 billion. In addition, this will open up a lot of growth prospects for both exports and domestic consumption in India. Every government program, including PLI and SPECs, is a step in the right direction.
China is anticipated to be the region's biggest ferrite cores market for ferrite cores. The need for ferrite cores is anticipated to be driven by the nation's sizable electronics industry and the rising demand for consumer devices, including smartphones and tablets. Furthermore, it is anticipated that the nation's initiatives to switch to renewable energy sources such as solar and wind will raise demand for ferrite cores in the area. In March 2025, the Ministry of Finance's Department of Revenue issued a notification imposing an anti-dumping charge on Chinese imports of Soft Ferrite Cores. This action comes after an inquiry by a designated body found that the domestic industry was being materially harmed by the dumped items. Soft ferrite cores made of manganese zinc that fall under tariff item 8505 11 10 and have certain geometries and lengths are subject to the duty. The duty rates differ, with 31% applied to items from Huzhou Halting Electronic Technology Co., Ltd., zero for Yabim Yinchuan Electronics Co., Ltd. and Hengan Group DMEGC Magnetics Co., Ltd., 35% for all other Chinese firms, and 35% when the country of export is any country other than China.
North America Market Analysis
North America ferrite cores market is expected to experience a stable CAGR during the forecast period. The need for ferrite cores in the area is also anticipated to be driven by the growing use of electric vehicles and renewable energy sources.
Investments in renewable energy in the U.S. have seen remarkable growth. The need for ferrite cores in the area is anticipated to be driven by the nation's sizable industrial automation sector. To lower its carbon emissions, the nation is also concentrating on renewable energy sources such as solar and wind, which is anticipated to raise demand for ferrite cores even more. KITAGAWA INDUSTRIES America manufactures a proprietary flexible version that is thin, lightweight, and long-lasting. There are two varieties of these high-performance ferrite cores for flat cables: magnesium-zinc and nickel-zinc. They are readily put over terminated cables and come in two pieces or split form.
Canada is also anticipated to be a major ferrite cores market. The nation's expanding industrial automation industry is anticipated to fuel regional demand for ferrite cores. Furthermore, the region's need for ferrite cores is anticipated to be fueled by the nation's emphasis on renewable energy sources such as hydroelectric power. In addition to having a sizable electronics sector, the nation is concentrating on alternative energy sources such as solar and wind. Ferrite core consumption is predicted to rise in tandem with the region's increasing demand for electric vehicles.
Companies Dominating the Ferrite Cores Market
- Ferroxcube
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- MAGNETICS
- SAMSUNG ELECTRO-MECHANICS
- Fair-Rite Products Corp.
- COSMO FERRITES LIMITED
- Bourns, Inc.
- VACUUMSCHMELZE GmbH & Co. KG
- Delta Manufacturing Limited
- GuangDong FengHua Advanced Technology Holding Co.Ltd.
To provide high-quality, robust, and adaptable ferrite cores market that satisfy the changing demands of sectors such as telecommunications and renewable energy sources, major firms are investing resources in research and development. Prominent companies are increasing their market share through partnerships and acquisitions. Additionally, concentrate on growing and diversifying their product lines to meet the various demands of end users in various sectors. This strategy appeals to customers who care about the environment in addition to meeting legal requirements.
Here are some leading players in the ferrite cores market:
In the News
- In August 2022, Murata introduced the BLE32SN chip ferrite bead line. These are the first chip-type noise suppression parts with a 20A current rating in the world. They will be utilized to reduce noise in circuits with high current flows, including those found in industrial machinery and electric vehicle (EV) powertrains and battery charging systems.
- In January 2022, JFE Steel introduced pure iron powder covered with Denjiro insulation for soft magnetic composites. The introduction strengthens JFE Steel's position as the sole one-stop shop in the world for the best solutions for all kinds of motors and other power-supply equipment. It broadens the company's range of soft magnetic materials from electrical steel sheets to soft ferrite cores.
Author Credits: Rajrani Baghel
- Report ID: 7641
- Published Date: May 09, 2025
- Report Format: PDF, PPT
