Soft Magnetic Composite Market: Introduction

  • Soft magnetic composites are ferromagnetic powder particles ideally coated with a uniform layer of electrical insulating film. These materials vary depending upon their final application. Once insulated, the powder is pre-mixed with compaction lubrication to smoothen the path for compaction and ejection from the die. The lube is removed during heat treatment.
  • Soft magnetic composites, in any automotive and other technology, can run faster, consume less energy, are compact & denser, and experience lower core

Drivers of Soft Magnetic Composite Market

  • The global soft magnetic composite market is anticipated to expand at a significant CAGR during the forecast period. Rise in demand for automobiles and energy is boosting the global market. Increase in number of nuclear power plants and electrical appliances is also driving the soft magnetic composite market.
  • Increase in demand for electricity generators, transformers, and automotive parts is expected to boost the global soft magnetic composite market during the forecast period. Rise in global population is augmenting the demand for electricity and automobiles. This is also projected to boost the soft magnetic composite market across the globe. In contrast, volatility in machine prices is anticipated to hamper the global soft magnetic composite market.

Restraints of Soft Magnetic Composite Market

  • Dearth of universal directives pertaining to applications of soft magnetic composites is expected to restrain the market during forecast period. Every country has different directives pertaining to applications of soft magnetic composites. Companies find it difficult to deal with these county wise regulations, which in turn discouraging the investment in soft magnetic composite market, thereby restraining the market growth during the forecast period.
  • High cost of production and distribution is another major restraint of the soft magnetic composite market

COVID-19 impact on Soft Magnetic Composite Market

  • The COVID-19 outbreak is hampering the demand for soft magnetic composite in many applications. Governments of various countries across the globe have enforced lockdown measures to curb the spread of the disease. This has resulted in the slowdown and halt in manufacturing operations, restrictions on supply and transport, and infrastructure slowdown. In turn, this has led to a decline in in demand for soft magnetic composites across the globe.
  • Key players operating in the soft magnetic composite market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of soft magnetic composites.

Asia Pacific to Hold Major Share of Soft Magnetic Composite Market

  • In terms of geography, the soft magnetic composite market can be segmented into North America, Asia Pacific, Europe, Middle East & Africa, and Latin America
  • Asia pacific is projected to dominate the global soft magnetic composite market during the forecast period due to the strong acceptance and popularity of these composites; and high demand for ferromagnetic materials in the region
  • North America is also anticipated to hold key share of the global soft magnetic composite market owing to the expansion of the automobile industry in the region

Soft Magnetic Composite Market: Key Players

Major players operating in the soft magnetic composite market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:  

  • Steward Advanced Materials Inc
  • GKN Sinter Metals
  • Dexter Magnetics
  • MMG Canada Limited
  • Magnetics

Global Soft Magnetic Composite Market, by Type

  • Soft Ferrite
  • Electrical Steel

Global Soft Magnetic Composite Market, by Application

  • Electronics
  • Automotive
  • Energy Generation
  • Others

Global Soft Magnetic Composite Market by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Soft Magnetic Composite Market