Soft Magnetic Material Market by End-user and Geography - Forecast and Analysis 2022-2026

The soft magnetic material market share is expected to increase by USD 4.22 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.94%.

This soft magnetic material market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers soft magnetic material market segmentation by end-user (electronics, automotive, energy, industrial, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The soft magnetic material market report also offers information on several market vendors, including Daido Steel Co. Ltd., Fluxtrol Inc., GKN Sinter Metals Engineering GmbH, Hengdian Group Holdings Ltd., Hitachi Ltd., Hoganas AB, JFE Holdings Inc., JPMF Guangdong Co. Ltd., Mahindra and Mahindra Ltd., Mate Co. Ltd., Merck KGaA, Nippon Steel Corp., Rio Tinto Ltd., Samwha Electronics, SG Technologies Ltd., Sintered Specialties LLC, Sintex AS, Steward Advanced Materials LLC, TDG Holding Co. Ltd., TDK Corp., Toshiba Corp., and VACUUMSCHMELZE GmbH and Co. KG among others.

What will the Soft Magnetic Material Market Size be During the Forecast Period?

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Soft Magnetic Material Market: Key Drivers, Trends, and Challenges

The demand from the automobile industry is notably driving the soft magnetic material market growth, although factors such as the high cost associated with the mining of rare-earth metals may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the soft magnetic material industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Soft Magnetic Material Market Driver

One of the key factors driving growth in the soft magnetic material market is the demand from the automobile industry. A massive number of soft magnetic materials are required in modern-day cars, and many applications are expected to become regular features of cars in the future. Soft magnetic materials are essential and indispensable for electro-mechanical devices like motors for automobiles. Silicon-containing Fe-based soft magnetic alloy steels are widely used for such applications. This can be attributed to consumers demanding features like stability, performance, and other attributes of a vehicle. Magnetic materials are potentially used in the body and powertrain components in vehicles. There have been developments in magnetic materials, such as soft magnetic materials owing to the demand of the automotive industry and others. The growing demand for electric vehicles (EVs) has created opportunities for magnetic materials such as soft magnetic materials. The advances in magnetic materials coupled with the growth of hybrid vehicles and EVs will escalate the growth of the market in focus during the forecast period.

Key Soft Magnetic Material Market Trend

The increased applicability in the computer application industry is a soft magnetic material market trend that is expected to have a positive impact in the coming years. An increased emphasis on energy-efficient memory storage in the computer applications sector drives the use of magnetic materials, such as soft magnetic materials. Traditionally, semiconductors were used for short-term memory and processing, which consumed most of the energy. Therefore, scientists across various universities have been researching energy-efficient magnetic materials for data storage. For instance, a professor at Carnegie Mellon University is currently working on a project that focuses on finding ways to use topological protection to improve magnetic materials that are used for computer memory storage. Such innovations and technological breakthroughs have opened up a huge potential for computer technology applications, which is expected to increase the adoption of soft magnetic materials across the computer applications sector.

Key Soft Magnetic Material Market Challenge

The high cost associated with the mining of rare-earth metals will be a major challenge for the soft magnetic material market during the forecast period. Rare-earth materials play a crucial role in the development of soft magnetic materials and semi-hard magnetic materials. However, their production is limited to certain regions, while the demand is widely spread across the world. Currently, rare-earth oxides are mainly produced in countries such as the US and China. As vendors globally depend only on a few countries for their supply of raw materials, any production delays often lead to high price fluctuations, disrupting supply to them. In addition, long realization periods, coupled with uncertain investments, may negatively impact the growth of the market. Long-term investments are required to carry out mining activities and maintain production facilities for transportation, community housing, water, and energy sources. These factors collectively incur high costs and hinder the market growth.

This soft magnetic material market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global soft magnetic material market as a part of the global diversified metals and mining market within the global materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the soft magnetic material market during the forecast period.

Who are the Major Soft Magnetic Material Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Daido Steel Co. Ltd.
• Fluxtrol Inc.
• GKN Sinter Metals Engineering GmbH
• Hengdian Group Holdings Ltd.
• Hitachi Ltd.
• Hoganas AB
• JFE Holdings Inc.
• JPMF Guangdong Co. Ltd.
• Mahindra and Mahindra Ltd.
• Mate Co. Ltd.
• Merck KGaA
• Nippon Steel Corp.
• Rio Tinto Ltd.
• Samwha Electronics
• SG Technologies Ltd.
• Sintered Specialties LLC
• Sintex AS
• Steward Advanced Materials LLC
• TDG Holding Co. Ltd.
• TDK Corp.
• Toshiba Corp.
• VACUUMSCHMELZE GmbH and Co. KG

 

This statistical study of the soft magnetic material market encompasses successful business strategies deployed by the key vendors. The soft magnetic material market is fragmented and the vendors are deploying growth strategies such as focusing on differentiating themselves from other competitors based on a wide variety of offerings, quality, price points, and attractive discount offers to compete in the market.

Product Insights and News

• daido.co.jp - The company offers soft magnetic materials which are used in choke coils, chip inductors, reactors for vehicle and photovoltaic power generation, electromagnetic clutch, and mixing with resins.

• daido.co.jp - Under the specialty steel segment, the company offers stainless steel, high alloy, and magnetic materials, titanium products, and powder metals for automotive and industrial machinery and electrical and electronic parts.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The soft magnetic material market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.

Soft Magnetic Material Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the soft magnetic material market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Soft Magnetic Material Market?

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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for soft magnetic material in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing demand for magnetic materials from the automotive manufacturing sector and electronics sector will facilitate the soft magnetic material market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hurt many countries worldwide in the first half of 2020. Owing to the outbreak, governments of many countries in the region, including India, China, and South Korea, imposed stringent lockdowns in 2020, which led to a halt in the operations of many end-user industries such as automotive and consumer electronics. However, several countries in APAC resumed their manufacturing and business activities with proper sanitization rules and social distancing norms, owing to the initiation of vaccination drives in 2021, which, in turn, are expected to contain the pandemic and promote business activities and manufacturing operations in end-user industries such as consumer electronics. 

What are the Revenue-generating End-user Segments in the Soft Magnetic Material Market?

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The soft magnetic material market share growth in the electronics segment will be significant during the forecast period. With increased emphasis on optimizing memory storage and preventing energy loss in memory devices, the demand for magnetic materials for computer applications is increasing.  Magnetic materials are increasingly used in hard drives, hard disks, and other storage devices. They are also used in short-term memory devices. In addition, magnetic materials find applications in DC motors that are used in consumer electronics such as washing machines and laptops. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the soft magnetic material market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Soft Magnetic Material Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.94%
Market growth 2022-2026	$4.22 billion
Market structure	Fragmented
YoY growth (%)	5.97
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 45%
Key consumer countries	US, China, Japan, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Daido Steel Co. Ltd., Fluxtrol Inc., GKN Sinter Metals Engineering GmbH, Hengdian Group Holdings Ltd., Hitachi Ltd., Hoganas AB, JFE Holdings Inc., JPMF Guangdong Co. Ltd., Mahindra and Mahindra Ltd., Mate Co. Ltd., Merck KGaA, Nippon Steel Corp., Rio Tinto Ltd., Samwha Electronics, SG Technologies Ltd., Sintered Specialties LLC, Sintex AS, Steward Advanced Materials LLC, TDG Holding Co. Ltd., TDK Corp., Toshiba Corp., and VACUUMSCHMELZE GmbH and Co. KG
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Soft Magnetic Material Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive soft magnetic material market growth during the next five years
• Precise estimation of the soft magnetic material market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the soft magnetic material industry across APAC, North America, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of soft magnetic material market vendors

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