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CHEMICALS AND ADVANCED MATERIALS

Soft Magnetic Composites (SMCs) Market Segmentation By Material (Soft Ferrite, Silicon Ferrite, Electronic Steel, Permalloy and Others); By Application (Motors, Compressors, Transformers, Generators and Others) and By End Use (Automotive, Electrical & Electronics, Energy & Power and Others) – Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Soft Magnetic Composites Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • May 2019: VACUUMSCHMELZE GmbH & Co. KG released a new cobalt iron material for engine applications. The CoFe alloy VACOFLUX X1 is known for increasing the torque density of vehicles, thereby increasing its efficiency.
  • February 2018: Hoganas AB announced that it acquired 100% of Swiss tooling company Alvier PM-Technology, a provider of powder metallurgy and soft magnetic composite tooling solutions. Through the acquisition, Hoganas AB aims to emerge as a tool engineering company and enhance its product portfolio, as well as expand its customer base.

Market Overview

Soft magnetic composites (SMCs) are ferromagnetic materials, which are made of iron powder particles and are surrounded by an electrically insulated layer. These materials can be easily magnetized and demagnetized and are primarily used to enhance or channel the flux produced via electric current. A wide array of elements is alloyed together for the formation of soft magnetic Composites materials. Some of the major soft magnetic materials include soft ferrite, iron-cobalt, silicon steel, and others. These materials are formed via the combination of different elements, which can either be a major or minor constituent in the material. Some of the most commonly used elements in soft magnetic materials include iron (Fe), nickel (Ni), Zinc (Zn), Cobalt (Co), and manganese (Mn). However, certain other elements, including vanadium (V), silicon (Si), phosphorus (P), boron (B), and molybdenum (Mo) are also used in minor quantities. The global SMCs market is thriving on the back of constant efforts being made for the development of materials in the field of magnetic materials along with transformations in the automotive and energy & power sector. Advancements in the development of the materials of SMCs have helped in increasing the utilization of SMCs in various components as compared to the traditional powder metallurgy products. The global SMCs market accounted for a market value of USD 21,375.1 million in the year 2018 and is expected to grow at a CAGR of 8.2% over the forecast period, i.e. 2020-2027. The market is further slated to achieve a market value of USD 42,356.6 million by 2027.

Regional Growth Highlights during 2018-2027

The global soft magnetic composites (SMCs) market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of Asia Pacific soft magnetic composites (SMCs) market is anticipated to hold the largest market share of around 43.26% in the year 2027. The market in the region is expected to garner a CAGR of 9.0% during the forecast period and attain a market value of USD 18, 323.5 million in the year 2027 on the back of presence of nations, such as, China, India, Japan, Australia and Southeast Asian countries where there are large number of end-use industries, such as, electric motors, automobiles and energy and power among others, that utilizes SMCs at a massive scale. The market in China is anticipated to outgrow other nations in the region on the back of being the largest producer of iron ore in the region, which is considered as the most significant raw material for different types of SMCs. Further, rising demand from automotive manufacturing on the back of increasing production of light-weight vehicles and electric cars, coupled with favorable financial incentives from the government in the region are some of the factors anticipated to drive the growth of the market in the region during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Soft-Magnetic-Composites-(SMCs)-Market

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Segmentation Synopsis

By Application

The global SMCs market is segmented on the basis of application into motors, compressors, transformers, generators and others, out of which, motors segment is anticipated to hold the largest market share of around 50.24% in the year 2027. The segment is anticipated to garner a CAGR of 8.70% over the forecast period and attain a market value of USD 21, 280.50 million in the year 2027. Application of SMCs in electric motors results in high power densities thereby helping to increase the conversion efficiency of the motor from electrical energy into mechanical energy. In addition, application of amorphous alloy and Si-Fe steel in motors helps to reduce the power loss, which is a common issue observed in motors.

Soft-Magnetic-Composites-(SMCs)-Market-Size

Market Driver & Challenges

Growth Indicators

Rising Consumption in End-Use Industries

Rising demand for SMCs on the back of increasing application across end use industries is one of the major factors anticipated to fuel the growth of the global SMCs market over the forecast period. Out of all other end use industries, automotive and electronics industry have showcased a notable increase in the consumption of SMCs on the back of its superior chemical properties, which helps to cater to a wide array of applications, such as, traction motors, pumps, AC/DC converters and others. Moreover, rising sales of electric vehicles, where SMCs are utilized at a massive scale, along with advancements pertaining to electric and hybrid vehicles, both these factors are also anticipated to contribute significantly towards the growth of the global SMCs market during the forecast period.

SMCs Superior Chemical Properties as Compared to Substitutes

Utilization of soft magnetic composites have showcased efficient output in the end products when compared to other magnetic materials. Numerous advantages offered by the SMCs  over the conventional materials, such as laminated sheets and silicon steel, and the significant properties exhibited by SMCs, such as low eddy current loss, reduced total care loss at high and medium frequencies, isotropic magnetic and thermal properties and others are some of the factors anticipated to drive the growth of the global SMCs market in the near future. Moreover, compact design and cost-effective features associated with the SMCs in tandem with the increasing demand for electromagnetic devices is also anticipated to propel the growth of the SMCs market in the upcoming years.

Soft-Magnetic-Composites-(SMCs)-Market-Demand

Barriers

Price Volatility of Raw Materials

Primary raw materials used in the manufacturing of soft magnetic composites materials, such as silicon steel, nickel-iron, and soft ferrites are generally made of iron ore and nickel. Fluctuations observed in the price of the iron ores along with the other materials is anticipated to act as a key restraint to the growth of the global SMCs market during the forecast period.

Top Featured Companies Dominating the Market

 

1. Introduction

1.1. Market Definition

1.2. Product Overview

1.3. Market Segmentation

2. Assumptions and Acronyms

3. Research Methodology

4. Executive Summary - Global Soft Magnetic Composites Market

5. Raw Material Outlook

6. Manufacturing Standards & Compliances

7. Market Dynamics

7.1. Drivers

7.2. Restraints

7.3. Trends

7.4. Opportunities

8. Soft Magnetic Composites-Risk Analysis

8.1. Demand Risk Analysis

8.2. Supply Risk Analysis

9.  Global Soft Magnetic Composites Market Outlook

9.1. Market Size and Forecast, 2018-2027F

9.1.1. By Value (USD Million)

9.1.2. By Material

9.1.2.1. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)

9.1.2.1.1. Soft Ferrite, 2018-2027F (USD Million)

9.1.2.1.2. Silicon Ferrite, 2018-2027F (USD Million)

9.1.2.1.3. Electronic Steel, 2018-2027F (USD Million)

9.1.2.1.4. Permalloy, 2018-2027F (USD Million)

9.1.2.1.5. Others, 2018-2027F (USD Million)

9.1.3. By Application

9.1.3.1. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)

9.1.3.1.1. Motors, 2018-2027F (USD Million)

9.1.3.1.2. Compressors, 2018-2027F (USD Million)

9.1.3.1.3. Transformers, 2018-2027F (USD Million)

9.1.3.1.4. Generators, 2018-2027F (USD Million)

9.1.3.1.5. Others, 2018-2027F (USD Million)

9.1.4. By End-use

9.1.4.1. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)

9.1.4.1.1. Automotive, 2018-2027F (USD Million)

9.1.4.1.2. Electrical & Electronics, 2018-2027F (USD Million)

9.1.4.1.3. Energy & Power, 2018-2027F (USD Million)

9.1.4.1.4. Others, 2018-2027F (USD Million)

9.1.5. By Region

9.1.5.1. Soft Magnetic Composites Market Share (%), By Region (2018,2027F)

9.1.5.1.1. North America

9.1.5.1.2. Europe

9.1.5.1.3. Asia Pacific

9.1.5.1.4. Latin America

9.1.5.1.5. Middle East and Africa

10. North America Soft Magnetic Composites Market Outlook

10.1.Macro-Economic Indicators impacting the North America Soft Magnetic Composites Market

10.2.Market Share and Forecast, 2018-2027F

10.2.1. By Material

10.2.1.1. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)

10.2.1.1.1. Soft Ferrite, 2018-2027F (USD Million)

10.2.1.1.2. Silicon Ferrite, 2018-2027F (USD Million)

10.2.1.1.3. Electronic Steel, 2018-2027F (USD Million)

10.2.1.1.4. Permalloy, 2018-2027F (USD Million)

10.2.1.1.5. Others, 2018-2027F (USD Million)

10.2.2. By Application

10.2.2.1. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)

10.2.2.1.1. Motors, 2018-2027F (USD Million)

10.2.2.1.2. Compressors, 2018-2027F (USD Million)

10.2.2.1.3. Transformers, 2018-2027F (USD Million)

10.2.2.1.4. Generators, 2018-2027F (USD Million)

10.2.2.1.5. Others, 2018-2027F (USD Million)

10.2.3. By End-use

10.2.3.1. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)

10.2.3.1.1. Automotive, 2018-2027F (USD Million)

10.2.3.1.2. Electrical & Electronics, 2018-2027F (USD Million)

10.2.3.1.3. Energy & Power, 2018-2027F (USD Million)

10.2.3.1.4. Others, 2018-2027F (USD Million)

10.2.4. By Country

10.2.4.1. Soft Magnetic Composites Market Share (%), By Country (2018,2027F)

10.2.4.1.1. United States, 2018-2027F (USD Million)

10.2.4.1.2. Canada, 2018-2027F (USD Million)

11. Europe Soft Magnetic Composites Market Outlook

11.1.Macro-Economic Indicators impacting the Europe Soft Magnetic Composites Market

11.2.Market Share and Forecast, 2018-2027F

11.2.1. By Material

11.2.1.1. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)

11.2.1.1.1. Soft Ferrite, 2018-2027F (USD Million)

11.2.1.1.2. Silicon Ferrite, 2018-2027F (USD Million)

11.2.1.1.3. Electronic Steel, 2018-2027F (USD Million)

11.2.1.1.4. Permalloy, 2018-2027F (USD Million)

11.2.1.1.5. Others, 2018-2027F (USD Million)

11.2.2.By Application

11.2.2.1. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)

11.2.2.1.1. Motors, 2018-2027F (USD Million)

11.2.2.1.2. Compressors, 2018-2027F (USD Million)

11.2.2.1.3. Transformers, 2018-2027F (USD Million)

11.2.2.1.4. Generators, 2018-2027F (USD Million)

11.2.2.1.5. Others, 2018-2027F (USD Million)

11.2.3.By End-use

11.2.3.1. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)

11.2.3.1.1. Automotive, 2018-2027F (USD Million)

11.2.3.1.2. Electrical & Electronics, 2018-2027F (USD Million)

11.2.3.1.3. Energy & Power, 2018-2027F (USD Million)

11.2.3.1.4. Others, 2018-2027F (USD Million)

11.2.4. By Country

11.2.4.1. Soft Magnetic Composites Market Share (%), By Country (2018,2027F)

11.2.4.1.1. UK, 2018-2027F (USD Million)

11.2.4.1.2. Germany, 2018-2027F (USD Million)

11.2.4.1.3. Italy, 2018-2027F (USD Million)

11.2.4.1.4. France, 2018-2027F (USD Million)

11.2.4.1.5. Spain, 2018-2027F (USD Million)

11.2.4.1.6. Turkey, 2018-2027F (USD Million)

11.2.4.1.7. Russia, 2018-2027F (USD Million)

11.2.4.1.8. Rest of Europe, 2018-2027F (USD Million)

12. Asia Pacific Soft Magnetic Composites Market Outlook

12.1. Macro-Economic Indicators impacting the Asia Pacific Soft Magnetic Composites Market

12.2. Market Share and Forecast, 2018-2027F

12.2.1. By Material

12.2.1.1. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)

12.2.1.1.1. Soft Ferrite, 2018-2027F (USD Million)

12.2.1.1.2. Silicon Ferrite, 2018-2027F (USD Million)

12.2.1.1.3. Electronic Steel, 2018-2027F (USD Million)

12.2.1.1.4. Permalloy, 2018-2027F (USD Million)

12.2.1.1.5. Others, 2018-2027F (USD Million)

12.2.2. By Application

12.2.2.1. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)

12.2.2.1.1. Motors, 2018-2027F (USD Million)

12.2.2.1.2. Compressors, 2018-2027F (USD Million)

12.2.2.1.3. Transformers, 2018-2027F (USD Million)

12.2.2.1.4. Generators, 2018-2027F (USD Million)

12.2.2.1.5. Others, 2018-2027F (USD Million)

12.2.3. By End-use

12.2.3.1. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)

12.2.3.1.1. Automotive, 2018-2027F (USD Million)

12.2.3.1.2. Electrical & Electronics, 2018-2027F (USD Million)

12.2.3.1.3. Energy & Power, 2018-2027F (USD Million)

12.2.3.1.4. Others, 2018-2027F (USD Million)

12.2.4. By Country

12.2.4.1. Soft Magnetic Composites Market Share (%), By Country (2018,2027F)

12.2.4.1.1. China, 2018-2027F (USD Million)

12.2.4.1.2. India, 2018-2027F (USD Million)

12.2.4.1.3. Japan, 2018-2027F (USD Million)

12.2.4.1.4. South Korea, 2018-2027F (USD Million)

12.2.4.1.5. Australia, 2018-2027F (USD Million)

12.2.4.1.6. Rest of Asia Pacific, 2018-2027F (USD Million)

13.Latin America Soft Magnetic Composites Market Outlook

13.1.Macro-Economic Indicators impacting the Latin America Soft Magnetic Composites Market

13.2.Market Share and Forecast, 2018-2027F

13.2.1. By Material

13.2.1.1. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)

13.2.1.1.1. Soft Ferrite, 2018-2027F (USD Million)

13.2.1.1.2. Silicon Ferrite, 2018-2027F (USD Million)

13.2.1.1.3. Electronic Steel, 2018-2027F (USD Million)

13.2.1.1.4. Permalloy, 2018-2027F (USD Million)

13.2.1.1.5. Others, 2018-2027F (USD Million)

13.2.2. By Application

13.2.2.1. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)

13.2.2.1.1. Motors, 2018-2027F (USD Million)

13.2.2.1.2. Compressors, 2018-2027F (USD Million)

13.2.2.1.3. Transformers, 2018-2027F (USD Million)

13.2.2.1.4. Generators, 2018-2027F (USD Million)

13.2.2.1.5. Others, 2018-2027F (USD Million)

13.2.3.By End-use

13.2.3.1. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)

13.2.3.1.1. Automotive, 2018-2027F (USD Million)

13.2.3.1.2. Electrical & Electronics, 2018-2027F (USD Million)

13.2.3.1.3. Energy & Power, 2018-2027F (USD Million)

13.2.3.1.4. Others, 2018-2027F (USD Million)

13.2.4.By Country

13.2.4.1. Soft Magnetic Composites Market Share (%), By Country (2018,2027F)

13.2.4.1.1. Brazil, 2018-2027F (USD Million)

13.2.4.1.2. Mexico, 2018-2027F (USD Million)

13.2.4.1.3. Rest of Latin America, 2018-2027F (USD Million)

14.Middle East and Africa Soft Magnetic Composites Market Outlook

14.1. Macro-Economic Indicators impacting the Middle East and Africa Soft Magnetic Composites Market

14.2. Market Share and Forecast, 2018-2027F

14.2.1. By Material

14.2.1.1. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)

14.2.1.1.1. Soft Ferrite, 2018-2027F (USD Million)

14.2.1.1.2. Silicon Ferrite, 2018-2027F (USD Million)

14.2.1.1.3. Electronic Steel, 2018-2027F (USD Million)

14.2.1.1.4. Permalloy, 2018-2027F (USD Million)

14.2.1.1.5. Others, 2018-2027F (USD Million)

14.2.2. By Application

14.2.2.1. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)

14.2.2.1.1. Motors, 2018-2027F (USD Million)

14.2.2.1.2. Compressors, 2018-2027F (USD Million)

14.2.2.1.3. Transformers, 2018-2027F (USD Million)

14.2.2.1.4. Generators, 2018-2027F (USD Million)

14.2.2.1.5. Others, 2018-2027F (USD Million)

14.2.3.By End-use

14.2.3.1. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)

14.2.3.1.1. Automotive, 2018-2027F (USD Million)

14.2.3.1.2. Electrical & Electronics, 2018-2027F (USD Million)

14.2.3.1.3. Energy & Power, 2018-2027F (USD Million)

14.2.3.1.4. Others, 2018-2027F (USD Million)

14.2.4. By Country

14.2.4.1. Soft Magnetic Composites Market Share (%), By Country (2018,2027F)

14.2.4.1.1.1. UAE, 2018-2027F (USD Million)

14.2.4.1.1.2. Israel, 2018-2027F (USD Million)

14.2.4.1.1.3. Saudi Arabia, 2018-2027F (USD Million)

14.2.4.1.1.4. South Africa, 2018-2027F (USD Million)

14.2.4.1.1.5. Rest of Middle East & Africa, 2018-2027F (USD Million)

15.Competitive Landscape

15.1. Competitive Scenario

15.2. Company Profiles

15.2.1.Hitachi Metals, Ltd.

15.2.2.Hoganas AB

15.2.3.VACUUMSCHMELZE GmbH & Co. KG

15.2.4. PMG Holding GmbH

15.2.5. Horizon Technology Inc

15.2.6. Fluxtrol Inc.

15.2.7. Sintex a/s

15.2.8.  Shenzhen City Ri Shengchang Magnet Technology Co., Ltd

15.2.9.AMES

15.2.10. MMG Canada Limited

16. Analyst’s Review


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