Soft Magnetic Material Market to record USD 10.56 Bn growth; APAC to have the largest market share — Technavio – QNT Press Release

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NEW YORK, Oct. 7, 2022 /PRNewswire/ — The “Soft Magnetic Material Market by End-user and Geography – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The report expects the market size to grow by USD 10.56 billion and accelerate at a CAGR of 6.74% between 2021 and 2026. According to the report, the market will observe significant growth in APAC over the forecast period. The steady rise in iron ore production and exports in Australia is creating significant growth opportunities for vendors operating in the region. The report provides a comprehensive analysis of the market size, regional growth opportunities, and much more. Download PDF Sample Report

The global soft magnetic material market is fragmented due to the presence of several vendors. Vendors in the market are focusing on differentiating themselves from other competitors based on a wide variety of offerings, quality, price points, and attractive discount offers. Vendors follow some criticality of input to compete in the market. The major inputs are the quality used by these vendors. They also invest heavily in building their brand image and technology to enjoy customer loyalty and provide a better customer experience by using innovative technology.

The increasing demand for soft magnetic materials from the automobile industry has been instrumental in driving the growth of the market. However, the high cost associated with the mining of rare-earth metals might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The report identifies 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 as major market participants. Request Sample Report Here

The global soft magnetic material market is segmented as below:

• End-user
• Electronics
• Automotive
• 能源
• Industrial
• Others

The electronics industry is the prime end-user in the market. The segment is driven by the increased demand for magnetic materials for computer applications. The market growth in the segment will be significant over the forecast period.

• Geography
• APAC
• North America
• Europe
• South America
• The Middle East and Africa

44% of the market growth will come from APAC during the forecast period. The increasing demand for magnetic materials from the automotive manufacturing sector and electronics sector is driving the growth of the soft magnetic material market in APAC. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The soft magnetic material market report covers the following areas:

• Soft Magnetic Material Market Size
• Soft Magnetic Material Market Trends
• Soft Magnetic Material Market Industry Analysis

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist soft magnetic material market growth during the next five years
• Estimation of the soft magnetic material market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the soft magnetic material market
• 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

• Magnet Market by Type and Geography – Forecast and Analysis 2022-2026
• Alnico Magnets Market by Application and Geography – Forecast and Analysis 2022-2026

Full story available on Benzinga.com

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