Soft Magnetic Materials Market 2025-2033:
- The global soft magnetic materials market reached USD 34.1 Billion in 2024.
- The soft magnetic materials market size is expected to reach USD 62.6 Billion by 2033, exhibiting a growth rate (CAGR) of 7% during 2025-2033.
- Asia-Pacific leads, accounting for the majority of the soft magnetic materials market share owing to high demand from the automotive and power sectors.
- Electric steel represents the largest segment due to its cost-effectiveness and energy-efficient properties in power systems.
- Motors represent the leading application segment spurred by the increased adoption in electric vehicles and industrial automation.
- Electrical and electronics hold the largest share in the industry, driven by rising demand for high-performance electronic devices and appliances.
- The growth of the soft magnetic materials market is also driven by advancements in power generation and distribution infrastructure, especially as nations modernize outdated electrical grids.
- Additionally, the rising adoption of advanced manufacturing technologies, such as additive manufacturing, allows for the precise customization of magnetic materials, catering to specific performance requirements in complex industrial applications.
Request for a sample copy of this report: https://www.imarcgroup.com/soft-magnetic-materials-market/requestsample
Industry Trends and Drivers:
- Increasing demand in electronics and electrical applications:
Soft magnetic materials, such as iron, nickel, and their alloys, are crucial in various electronic and electrical applications due to their high magnetic permeability and low coercivity. These materials are widely used in transformers, inductors, magnetic sensors, and electric motors. The rapid growth of the electronics industry, driven by advancements in consumer electronics, automotive technology, and renewable energy solutions, has significantly increased the demand for efficient power conversion and management solutions. Additionally, the shift towards electric vehicles (EVs) and renewable energy systems has spurred the need for high-performance magnetic components, further propelling the market.
- Advancements in material technology:
Innovations in soft magnetic material technologies have led to the development of advanced materials that offer superior performance characteristics. The introduction of new alloys and composite materials enhances magnetic properties such as saturation magnetization and energy loss, making them suitable for high-frequency applications. For instance, nanocrystalline and amorphous soft magnetic materials exhibit excellent magnetic properties with minimal energy losses, catering to the needs of modern power electronics. These advancements not only improve efficiency but also allow for the miniaturization of components, enabling the design of compact and lightweight electronic devices.
- Growing focus on energy efficiency and sustainability:
There is a heightened awareness of energy efficiency and sustainability across various industries. Governments and organizations are implementing stringent regulations and standards to reduce energy consumption and carbon emissions. Soft magnetic materials play a pivotal role in this transition by enabling more efficient energy conversion and transmission. For example, the use of high-performance soft magnetic cores in transformers can significantly reduce energy losses, contributing to lower operational costs and improved sustainability. As industries increasingly prioritize eco-friendly solutions, the demand for soft magnetic materials that align with these goals continues to rise, driving market growth.
Soft Magnetic Materials Market Report Segmentation:
Breakup By Material:
- Cobalt
- Iron
- Nickel
- Electric Steel
- Others
Electric steel is favored for its superior magnetic properties, making it essential in various high-performance applications, particularly in transformers and motors.
Breakup By Application:
- Motors
- Transformers
- Alternators
- Others
Motors require high-performance soft magnetic materials to optimize efficiency and reduce energy loss, contributing to their significant market share within the sector.
Breakup By End Use:
- Automotive
- Electrical and Electronics
- Telecommunication
- Energy and Power
- Others
Electrical and electronics represent the biggest end-use segment because of rapid advancements in consumer devices and renewable energy technologies.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia-Pacific leads the soft magnetic materials market due to its robust manufacturing base, rapid industrialization, and increasing investments in the electronics and automotive sectors.
Top Soft Magnetic Materials Market Leaders:
The soft magnetic materials market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- Arnold Magnetic Technologies
- Daido Steel Co. Ltd.
- GKN Sinter Metals Engineering GmbH
- Hitachi Ltd.
- Mate Co. ltd.
- Meyer Sintermetall AG
- SG Technologies
- Steward Advanced Materials
- Sumitomo Metal Mining Co. Ltd.
- Toshiba Materials Co Ltd (Toshiba Corporation)
- Vacuumschmelze GmbH & Co KG
Ask Analyst & Browse full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=4208&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
