Soft Magnetic Materials Market Market Demand and OpportunitiesPosted by Pradnya on March 18th, 2020 Global sales of soft magnetic materials surpassed the market value of US$ 60 Bn in 2018. Though the demand will be concentrated in automotive industry, increasing use of soft magnetic materials in electrical components and use of sintered soft magnetic materials for electrical motors, generators, and transformers warrant high prospects of soft magnetic material consumption in the near future. A new Persistence Market Research (PMR) study reveals that the soft magnetic materials market is set for a robust CAGR during projection period (2019 – 2029), on the back of solid application potential in electric and hybrid electric vehicles that have been reflecting significant sales growth over the recent past. Key Takeaways – Global Soft Magnetic Materials
Primarily pushed by the increasing trend of vehicle electrification, sales of soft magnetic materials will also be contributed by their increasing employment in a number of solar power generation initiatives. Market Players Relying on M&A The report identifies key market players and various strategies followed by these players in the global soft magnetic materials market. Some of the market giants are
Extensive R&D in this field is boosting market growth. The recent trend of mergers and acquisition has enhanced market growth. A landmark development was the merger of Japan’s largest and world’s sixth-largest steel maker Nippon Steel Corporation with 27th-ranked Sumitomo Metal Industries in December 2017. Global Soft Magnetic Materials Market Landscape The global soft magnetic materials market is anticipated to observe double-digit year-over-year growth, owing to impending needs of various end-use domains such as automotive, electronics, and metallurgy. Escalating demand for soft magnetic materials in developing countries, such as India and China, is estimated to open new avenues for manufacturers in the global soft magnetic materials market over the forecast period. Renewed focus on increasing energy efficiency and disruptive innovations for harvesting renewable energy has led to a positive shift in the market dynamics. For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/4245 Why Purchase this Report? A new market research study by Persistence Market Research on the global soft magnetic materials market offers global industry analysis for 2014-2018 and market forecast for 2019-2029. The report provides vital actionable insights about ongoing market trends, dynamics, value chain outlook, cost structure, and various key facts and figures about the global soft magnetic materials market. Moreover, it also elaborates upon key indicators of market growth such as Compounded Annual Growth Rate (CAGR), Year-on-Year (Y-o-Y) growth, and incremental $ opportunity of the global soft magnetic materials market. Like it? Share it!More by this author |