The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Soft Magnetic Composites. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Soft Magnetic Composites Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Soft Magnetic Composites market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Soft Magnetic Composites
This newly published and insightful report sheds light on Market Insights of Soft Magnetic Composites, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Soft Magnetic Composites Market.
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Soft Magnetic Composites Market: Segmentation
Fact.MR has studied the soft magnetic composites market with detailed segmentation on the basis of by product, application, and region.
- Pure Iron/ Iron Powder
- Silicon Ferrite
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East & Africa
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Global SMCs Market Manufacturers: Key Strategies
The global soft magnetic composites market is fairly consolidated in nature. Hitachi Metals Ltd, Voestalpine Stahl GmbH, and Toshiba Corp (Toshiba Materials Co., Ltd.) are among the tier 1 players.
Together, they are anticipated to account for more than 40% of the global SMCs market share in 2020. Key manufacturers are observed to be involved in research & development and channeling products to promising applications to enhance their share in the global soft magnetic composites market.
Prominent manufacturers have also showcased organic strategies such as developing products and entering niche, impenetrable markets such as defense and aerospace components.
Motors to Remain a Key Application Area of Soft Magnetic Composites
Continued research on soft magnetic composites is resulting in the vast potential for AC and DC applications that improves magnetic induction of core materials. Electric motor manufacturers are focusing on offering efficient, simple and high performance motors using soft magnetic composites. According to the report by Fact.MR, the demand for soft magnetic composites for application in motors is projected to surpass US$ 6,000 million in 2018.
The United States Department of Energy (DOE) is funding research and development activities to develop energy efficient electric motors for diverse applications. New technologies are being developed including high-speed bearing designs, advanced magnetic materials. Majority of the developed countries are implementing Minimum Energy Performance Standards (MEPS). This is resulting in wide adoption of premium (IE3) and super premium (IE4) efficiency motors in these countries.
Motors of electric vehicles usually run up to 14,000 rpm creating a switching frequency above 1800 Hz, resulting in more eddy current losses. This is driving motor manufacturers for electric vehicles to shift from thin laminations to soft magnetic composites thereby minimizing high eddy current losses.
The Fact.MR report tracks the soft magnetic composites market for the forecast period 2018-2027. The soft magnetic composites market is expected to register CAGR of 6.7% between 2018 and 2027, according to the report.
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More Valuable Insights on Soft Magnetic Composites Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Soft Magnetic Composites, Sales and Demand of Soft Magnetic Composites, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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