Global Soft Magnetic Composite Market Expected to Grow with a CAGR of 8.2% During the Forecast Period, 2019-2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 13, 2020--
The "Global Soft Magnetic Composite Market Outlook and Projections, 2019-2027" report has been added to ResearchAndMarkets.com's offering.
The global soft magnetic composites market is anticipated to grow at a significant CAGR of 8.2%.
Market gains are expected to be driven by the increase in utilization of consumer electronics and automobiles in tandem with the rising economic output of numerous countries. Rapidly expanding production of plug-in and full-hybrid electric vehicles have led to a stronger growth of SMCs in the automotive sector, as these require more magnetic components as compared to the conventional vehicles.
Technical advancements in the magnet manufacturing technologies have further strengthened the growth of soft magnetic composites in comparison to other magnetic materials. Introduction of nano-particle based materials in the manufacturing of soft magnetic composites is a key development in the field of material science concerning magnets.
Asia Pacific is the largest regional market for the global soft composites market, followed by North America and Europe. Economic growth of the Asian countries coupled with the growth of electronics, automotive, and renewable power industry are among the key drivers for the growth of the SMC market in Asian region.
Rapidly increasing number of applications of soft magnetic Composites (SMCs) in various end-use sectors is one of the major factors anticipated to fuel the market growth over the forecast period.
In the past decade, applications pertaining to SMCs in automotive and electronics industry have showcased a notable increase. This can be majorly attributed to the superior chemical properties associated with the use of such electromagnetic components.
The SMCs cater to a wide array of applications in the automotive industry, such as in traction motors, pumps, DC/DC converters, and on-vehicle chargers. As per the analysis conducted by the Federal Reserve Bank of Chicago, the total sales and production concerning the light-vehicles witnessed a considerable growth in 2017 as compared to 2016. The sales increased from 91.67 million units in 2016 to 93.45 million units in 2017. Some of the major emerging regional markets for the automotive industry are China, India, East Europe, and South America.
Furthermore, rapid advancements in automotive industry pertaining to electric and hybrid vehicles has further strengthened the market growth for soft magnetic Composites materials
Key Topics Covered:
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
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
18.104.22.168. Soft Magnetic Composites Market Share (%), By Material (2018-2027F)
22.214.171.124.1. Soft Ferrite, 2018-2027F (USD Million)
126.96.36.199.2. Silicon Ferrite, 2018-2027F (USD Million)
188.8.131.52.3. Electronic Steel, 2018-2027F (USD Million)
184.108.40.206.4. Permalloy, 2018-2027F (USD Million)
220.127.116.11.5. Others, 2018-2027F (USD Million)
9.1.3. By Application
18.104.22.168. Soft Magnetic Composites Market Share (%), By Application (2018-2027F)
22.214.171.124.1. Motors, 2018-2027F (USD Million)
126.96.36.199.2. Compressors, 2018-2027F (USD Million)
188.8.131.52.3. Transformers, 2018-2027F (USD Million)
184.108.40.206.4. Generators, 2018-2027F (USD Million)
220.127.116.11.5. Others, 2018-2027F (USD Million)
9.1.4. By End-use
18.104.22.168. Soft Magnetic Composites Market Share (%), By End-use (2018-2027F)
22.214.171.124.1. Automotive, 2018-2027F (USD Million)
126.96.36.199.2. Electrical & Electronics, 2018-2027F (USD Million)
188.8.131.52.3. Energy & Power, 2018-2027F (USD Million)
184.108.40.206.4. Others, 2018-2027F (USD Million)
9.1.5. By Region
220.127.116.11. Soft Magnetic Composites Market Share (%), By Region (2018,2027F)
18.104.22.168.1. North America
22.214.171.124.3. Asia Pacific
126.96.36.199.4. Latin America
188.8.131.52.5. Middle East and Africa
10. North America Soft Magnetic Composites Market Outlook
11. Europe Soft Magnetic Composites Market Outlook
12. Asia Pacific Soft Magnetic Composites Market Outlook
13. Latin America Soft Magnetic Composites Market Outlook
14. Middle East and Africa Soft Magnetic Composites Market Outlook
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
15.2.10. MMG Canada Limited
16. Analyst's Review
For more information about this report visit https://www.researchandmarkets.com/r/4sbgdr
View source version on businesswire.com:https://www.businesswire.com/news/home/20200113005485/en/
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SOURCE: Research and Markets
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PUB: 01/13/2020 07:51 AM/DISC: 01/13/2020 07:51 AM