Soft Magnetic Materials Market Size by Material, Industry Vertical, Application, Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2032
Overview
The Soft Magnetic Materials Market size was valued at USD 32.58 Billion in 2024 and the total Soft Magnetic Materials revenue is expected to grow at a CAGR of 9.13% from 2025 to 2032, reaching nearly USD 65.54 Billion.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Soft Magnetic Materials Market Dynamics:
The market is expected to grow at a considerable CAGR on a global scale over the forecast period. Key drivers for this market are the rise in demand for soft magnetic materials from the automotive industry, disruptive innovations that have led to new product launches, prolific use of sintered soft magnetic materials for electrical motors, transformers, and alternators, and rapid up-gradation of infrastructure. Burgeoning demand in developing countries will open new avenues for this market over the forecast horizon. Extensive R&D in this field is spurring market growth. On the other hand, volatile raw material prices are restraining the market growth. Reducing eddy current losses in soft magnetic materials is the main challenge for this market.
Electrical steel has prolific applications in motors, generators, transformers, and alternators. It has superior properties like little coercive, high electrical resistivity to iron, high permeability acts as an electrical insulator, and has less current losses. It is hence accounted for the largest market share currently. This trend is estimated to continue in the forecast period. Cold-rolled lamination steel and amorphous steel will follow suit. Motors have a chunk of the market share and are deemed to dominate in the forecast period.
Segment Analysis:
Depending on the application, the motors segment is accounted for the largest market share in the market owing to the growing demand for motors in the electrical and automotive business. The soft magnetic materials that are often used in motor applications are iron-based materials, which include iron-silicon and iron-cobalt.
Soft magnetic materials increased wide acceptance in various end-user industries, because of the superior performance and a number of advantageous properties like good permeability and the reduction of eddy current loss. Automotive is the most important consumer in the market. The major automotive applications where these materials are used include anti-lock brake systems, fuel injectors, motors, compressors, other rotating devices, and so on.
Regional Insights:
The growth of the market in the Asia-Pacific region is driven by the growing electronics & telecommunications and automotive industries due to the presence of established players and stringent environmental regulations stressing the use of materials which will lead to the reduction of eddy current loss, thereby leading to energy savings. Some of the leading players such as Daido Steel Co. Ltd. (Japan) and Toshiba Materials Co., Ltd. (Japan) have accelerated their R&D efforts to provide good quality soft magnetic materials. Moreover, the Asia-Pacific region is witnessing rapid economic development and industrialization, which is also giving an impetus to the market in the region.
The objective of the report is to present a comprehensive assessment of the market and contain insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by product type, end-user, and region and, projects the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the market.
Soft Magnetic Materials Market, Key Highlights:
Global market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Soft Magnetic Materials Market
Global Soft Magnetic Materials Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Soft Magnetic Materials Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Soft Magnetic Materials Market Scope: Inquire before buying
| Global Soft Magnetic Materials Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2024 | Forecast Period: | 2025-2032 |
| Historical Data: | 2019 to 2024 | Market Size in 2024: | USD 32.58 Bn. |
| Forecast Period 2025 to 2032 CAGR: | 9.13% | Market Size in 2032: | USD 65.54 Bn. |
| Segments Covered: | by Material | Cobalt Iron Nickel Electric Steel Alloys Others |
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| by Industry Vertical | Automotive Aviation Telecommunication Power Healthcare Others |
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| by Application | Motor Transformer Alternator |
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Soft Magnetic Materials Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Soft Magnetic Materials Market, Key Players
1. VACUUMSCHMELZE GmbH & Co. KG
2. GKN Plc.
3. Daido Kogyo Co. Ltd.
4. Toshiba Materials Co., Ltd.
5. Steward Advanced Materials Inc.
6. Sintex A/S
7. Mate Co. Ltd.
8. Sumitomo Metal Mining Co. Ltd.
9. SA Technologies Limited
10. Hitachi Metals Ltd.
11. GKN Sinter Metals Inc.
12. Daido Steel Co. Ltd.
13. Ames S.A.
14. FJ Industries
15. Arnold Magnetic Technologies
16. Powder Metal Group (PMG)
17. Fluxtrol Inc.
18. MATE CO., LTD
19. Sintered Specialties, LLC
20. Steward Advanced Materials LLC
Frequently Asked Questions:
1. Which region has the largest share in Global Soft Magnetic Materials Market?
Ans: Asia Pacific region held the highest share in 2024.
2. What is the growth rate of Global Soft Magnetic Materials Market?
Ans: The Global Soft Magnetic Materials Market is growing at a CAGR of 9.13% during forecasting period 2025-2032.
3. What is scope of the Global Soft Magnetic Materials market report?
Ans: Global Soft Magnetic Materials Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Soft Magnetic Materials market?
Ans: The important key players in the Global Soft Magnetic Materials Market are – VACUUMSCHMELZE GmbH & Co. KG, GKN Plc., Daido Kogyo Co. Ltd., Toshiba Materials Co., Ltd., Steward Advanced Materials Inc., Sintex A/S, Mate Co. Ltd., Sumitomo Metal Mining Co. Ltd., SA Technologies Limited, Hitachi Metals Ltd., GKN Sinter Metals Inc., Daido Steel Co. Ltd., Ames S.A., FJ Industries, Arnold Magnetic Technologies, Powder Metal Group (PMG), Fluxtrol Inc., MATE CO., and LTD
5. What was the Soft Magnetic Materials Market size in 2024?
Ans: The Soft Magnetic Materials Market size was USD 32.58 Billion in 2024.