Soft Magnetic Materials Market Forecasts to 2030 – Global Analysis By Material (Electrical Steel, Permalloy, Ferrite, Cobalt, Iron and Other Materials), End User (Automotive, Energy, Industrial, Telecommunications and Other End Users) and By Geography

Soft Magnetic Materials Market Forecasts to 2030 – Global Analysis By Material (Electrical Steel, Permalloy, Ferrite, Cobalt, Iron and Other Materials), End User (Automotive, Energy, Industrial, Telecommunications and Other End Users) and By Geography


According to Stratistics MRC, the Global Soft Magnetic Materials Market is accounted for $89.98 billion in 2024 and is expected to reach $189.33 billion by 2030 growing at a CAGR of 13.2% during the forecast period. Soft magnetic materials are essential components in electrical engineering and electronics due to their unique ability to magnetize and demagnetize quickly and efficiently in response to changing magnetic fields. Unlike hard magnetic materials, which retain their magnetization once magnetized, soft magnetic materials exhibit high permeability and low coercivity, making them ideal for applications where rapid and reversible magnetization is necessary, such as in transformers, electric motors, inductors, and magnetic shielding.

According to the Japan Electronics and Information Technology Industries Association (JEITA), the production by the global electronics and IT industry was expected to reach USD 3,436.8 billion, with a growth rate of 3 percent year on year, by 2023.

Market Dynamics:

Driver:

Development and modernization of infrastructure

The development and modernization of infrastructure have significantly enhanced the demand and application of soft magnetic materials. These materials, known for their ability to efficiently direct and control magnetic fields, are crucial components in a wide array of infrastructure-related technologies. Advancements in infrastructure, such as smart grids, renewable energy systems, electric vehicles, and telecommunications networks, require efficient management and conversion of electrical energy, which relies heavily on soft magnetic materials.

Restraint:

High cost of raw materials

However, the primary raw materials used in their production, such as iron, nickel, cobalt, and various alloys, have experienced price increases in recent years. This escalation in costs directly impacts manufacturers, leading to higher production expenses and ultimately influencing the final product prices. As a result, companies face challenges in maintaining competitive pricing and profitability. Fluctuations in raw material costs can disrupt supply chains and production planning, further complicating efforts to meet market demand consistently.

Opportunity:

Rising demand from emerging economies

The increasing demand from emerging economies is significantly bolstering the market for soft magnetic materials. Emerging economies like India, China, Brazil, and others are experiencing rapid industrialization and urbanization, driving up the need for efficient energy solutions and advanced electronic equipment. Soft magnetic materials, known for their ability to quickly magnetize and demagnetize, are essential in improving the efficiency and performance of these devices. Moreover, as these economies focus on renewable energy expansion and electric vehicle production, the demand for soft magnetic materials further intensifies. Manufacturers are innovating to meet this growing demand by developing materials with improved magnetic properties, durability, and cost-effectiveness.

Threat:

Limited availability of rare earth elements

The limited availability of rare earth elements poses a significant challenge to the development and production of soft magnetic materials. These materials, crucial for applications in electronics, telecommunications, and renewable energy technologies like wind turbines and electric vehicles, rely heavily on rare earth elements such as neodymium, dysprosium, and samarium for their magnetic properties. However, these elements are not only scarce but also geographically concentrated, with a significant portion of global supply coming from a few countries, particularly China. This concentration creates supply chain vulnerabilities and price volatility, impacting industries that depend on consistent access to these materials.

Covid-19 Impact:

The COVID-19 pandemic significantly affected the soft magnetic materials sector. Supply chains experienced disruptions due to factory closures, transportation restrictions, and reduced workforce capacity, leading to delays in material production and distribution. Market uncertainties caused by fluctuating demand and raw material shortages further complicated the situation. Additionally, the shift towards remote work and reduced industrial activities initially dampened overall demand but later saw a recovery as industries adapted to new operational norms.

The Permalloy segment is expected to be the largest during the forecast period

Permalloy segment is expected to be the largest during the forecast period. Permalloy, a type of soft magnetic material, is significantly contributing to the growth of the soft magnetic materials market. It is an alloy typically composed of iron and varying amounts of nickel (around 20-80%) and exhibits excellent magnetic properties such as high permeability, low coercivity, and low core loss. The demand for Permalloy segments is rising due to its ability to enhance the performance and efficiency of electronic devices and power systems, particularly in industries like telecommunications, automotive, and renewable energy.

The Industrial segment is expected to have the highest CAGR during the forecast period

Industrial segment is expected to have the highest CAGR during the forecast period. Soft magnetic materials, such as iron-silicon alloys and ferrites, play a crucial role in the efficient operation of electric motors, transformers, and electromagnetic devices. Their ability to magnetize and demagnetize rapidly with minimal energy loss (low hysteresis) makes them ideal for applications requiring frequent magnetic field changes, like in high-frequency transformers and electric vehicle motors. Recent developments focus on improving the magnetic properties of these materials through alloying, microstructural control, and processing techniques. This enhancement aims to achieve higher magnetic permeability, lower coercivity, and reduced core losses, thereby increasing the efficiency and reliability of industrial equipment.

Region with largest share:

Asia Pacific region commanded the largest share of the market over the projection period. As governments and industries prioritize sustainability and energy efficiency, the demand for soft magnetic materials has grown significantly. Countries like China, Japan, South Korea, and India are at the forefront of this market expansion, driven by rapid industrialization, urbanization, and the adoption of advanced technologies. Moreover, initiatives promoting renewable energy sources further bolster the demand for soft magnetic materials in power generation and distribution systems.

Region with highest CAGR:

Europe region is estimated to witness profitable growth during the extrapolated period. Through stringent environmental standards and supportive policies, European governments are fostering innovation and sustainable practices within the industry. Regulations such as REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) ensure the safe use of materials, promoting cleaner production methods and reducing environmental impact. Moreover, initiatives aimed at promoting research and development in advanced materials technology are bolstering the competitiveness of European firms in global markets.

Key players in the market

Some of the key players in Soft Magnetic Materials market include Dexter Magnetic Technologies, Electron Energy Corporation, Carpenter Technology Corporation, Mitsubishi Materials Corporation, TDK Corporation, Hitachi Metals, Ltd, Voestalpine AG, Mate Group and Intermetallics India Pvt. Ltd.

Key Developments:

In January 2022, Daido Steel Co., Ltd. has introduced a new product, called STARPAS-50PC2S permalloy foil, which is designed to effectively suppress EMC noise, particularly magnetic noise, at low frequencies below approximately 100kHz. This noise is usually caused by higher frequencies in communication and IoT devices, as well as electric automobiles.

In January 2022, JFE Steel Corporation has also launched Denjiro, which is an insulation-coated pure iron powder for soft magnetic composites. This product is ideally suited to axial gap motors and has been added to their broad lineup of soft magnetic materials.

Materials Covered:
• Electrical Steel
• Permalloy
• Ferrite
• Cobalt
• Iron
• Other Materials

End Users Covered:
• Automotive
• Energy
• Industrial
• Telecommunications
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements


1 Executive Summary
2 Preface
2.1 Abstract
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2.2 Stake Holders
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2.3 Research Scope
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2.4 Research Methodology
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2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
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2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
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3.2 Drivers
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3.3 Restraints
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3.4 Opportunities
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3.5 Threats
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3.6 End User Analysis
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3.7 Emerging Markets
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3.8 Impact of Covid-19
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4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
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4.2 Bargaining power of buyers
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4.3 Threat of substitutes
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4.4 Threat of new entrants
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4.5 Competitive rivalry
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5 Global Soft Magnetic Materials Market, By Material
5.1 Introduction
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5.2 Electrical Steel
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5.3 Permalloy
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5.4 Ferrite
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5.5 Cobalt
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5.6 Iron
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5.7 Other Materials
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6 Global Soft Magnetic Materials Market, By End User
6.1 Introduction
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6.2 Automotive
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6.3 Energy
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6.4 Industrial
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6.5 Telecommunications
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6.6 Other End Users
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7 Global Soft Magnetic Materials Market, By Geography
7.1 Introduction
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7.2 North America
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7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
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7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
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7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
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7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
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7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
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8.2 Acquisitions & Mergers
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8.3 New Product Launch
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8.4 Expansions
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8.5 Other Key Strategies
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9 Company Profiling
9.1 Dexter Magnetic Technologies
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9.2 Electron Energy Corporation
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9.3 Carpenter Technology Corporation
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9.4 Mitsubishi Materials Corporation
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9.5 TDK Corporation
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9.6 Hitachi Metals, Ltd
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9.7 Voestalpine AG
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9.8 Mate Group
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9.9 Intermetallics India Pvt. Ltd
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List of Tables
Table 1 Global Soft Magnetic Materials Market Outlook, By Region (2022-2030) ($MN)
Table 2 Global Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)
Table 3 Global Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)
Table 4 Global Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)
Table 5 Global Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)
Table 6 Global Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)
Table 7 Global Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)
Table 8 Global Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)
Table 9 Global Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)
Table 10 Global Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
Table 11 Global Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)
Table 12 Global Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
Table 13 Global Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)
Table 14 Global Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)
Table 15 North America Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
Table 16 North America Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)
Table 17 North America Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)
Table 18 North America Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)
Table 19 North America Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)
Table 20 North America Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)
Table 21 North America Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)
Table 22 North America Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)
Table 23 North America Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)
Table 24 North America Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
Table 25 North America Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)
Table 26 North America Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
Table 27 North America Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)
Table 28 North America Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)
Table 29 Europe Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
Table 30 Europe Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)
Table 31 Europe Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)
Table 32 Europe Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)
Table 33 Europe Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)
Table 34 Europe Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)
Table 35 Europe Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)
Table 36 Europe Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)
Table 37 Europe Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)
Table 38 Europe Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
Table 39 Europe Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)
Table 40 Europe Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
Table 41 Europe Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)
Table 42 Europe Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)
Table 43 Asia Pacific Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
Table 44 Asia Pacific Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)
Table 45 Asia Pacific Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)
Table 46 Asia Pacific Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)
Table 47 Asia Pacific Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)
Table 48 Asia Pacific Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)
Table 49 Asia Pacific Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)
Table 50 Asia Pacific Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)
Table 51 Asia Pacific Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)
Table 52 Asia Pacific Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
Table 53 Asia Pacific Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)
Table 54 Asia Pacific Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
Table 55 Asia Pacific Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)
Table 56 Asia Pacific Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)
Table 57 South America Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
Table 58 South America Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)
Table 59 South America Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)
Table 60 South America Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)
Table 61 South America Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)
Table 62 South America Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)
Table 63 South America Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)
Table 64 South America Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)
Table 65 South America Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)
Table 66 South America Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
Table 67 South America Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)
Table 68 South America Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
Table 69 South America Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)
Table 70 South America Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)
Table 71 Middle East & Africa Soft Magnetic Materials Market Outlook, By Country (2022-2030) ($MN)
Table 72 Middle East & Africa Soft Magnetic Materials Market Outlook, By Material (2022-2030) ($MN)
Table 73 Middle East & Africa Soft Magnetic Materials Market Outlook, By Electrical Steel (2022-2030) ($MN)
Table 74 Middle East & Africa Soft Magnetic Materials Market Outlook, By Permalloy (2022-2030) ($MN)
Table 75 Middle East & Africa Soft Magnetic Materials Market Outlook, By Ferrite (2022-2030) ($MN)
Table 76 Middle East & Africa Soft Magnetic Materials Market Outlook, By Cobalt (2022-2030) ($MN)
Table 77 Middle East & Africa Soft Magnetic Materials Market Outlook, By Iron (2022-2030) ($MN)
Table 78 Middle East & Africa Soft Magnetic Materials Market Outlook, By Other Materials (2022-2030) ($MN)
Table 79 Middle East & Africa Soft Magnetic Materials Market Outlook, By End User (2022-2030) ($MN)
Table 80 Middle East & Africa Soft Magnetic Materials Market Outlook, By Automotive (2022-2030) ($MN)
Table 81 Middle East & Africa Soft Magnetic Materials Market Outlook, By Energy (2022-2030) ($MN)
Table 82 Middle East & Africa Soft Magnetic Materials Market Outlook, By Industrial (2022-2030) ($MN)
Table 83 Middle East & Africa Soft Magnetic Materials Market Outlook, By Telecommunications (2022-2030) ($MN)
Table 84 Middle East & Africa Soft Magnetic Materials Market Outlook, By Other End Users (2022-2030) ($MN)

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