Adoption of Soft Magnetic Composites Market to Increase Across Top Countries in the Globe During 2022 to 2031

Soft magnetic composites (SMCs) market continues to be influenced by a range of factors, notably rising palpability of silicon ferrite in inductors, and increasing preference for soft magnetic materials in electronic components. Worldwide sales of soft magnetic materials exceeded US$ 18,000 Mn in 2018, according to a new Fact.MR study. Focus of utility equipment manufacturers on curtailing core losses, and leveraging renewable energy sources to meet growing power demand will significantly underpin demand for soft magnetic composites.

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Silicon ferrite has become the cornerstone for manufacturers of inductors and capacitors, and has fast been replacing the traditionally employed metal magnetic materials. The study opines that over 50% of soft magnetic composites were manufactured using silicon ferrite. Key attributes of silicon ferrite such as robust chemical stability, magnetic permeability, and cost-effectiveness, has further led researchers to explore its application in RF devices, voltage regulation, and power delivery systems. Ferrite silicone coated soft magnetic composites are also gaining popularity with growing application in transformer cores, inductance coils, resonant inductors, and synchronous electric motors. Electrical resistivity in ferrite minimizes eddy current losses, this is driving its use in high frequency transformer. In order to increase the resistivity of ferrite, manufacturers are adding silicon to further reduce eddy currents in transformer cores.

The demand for supermalloy is increasing among the components manufacturers for telephony, radio engineering and telemechanics instruments. With a focus on high initial permeability and low losses, supermalloy demand is likely to grow significantly in ultra-sensitive transformers, especially in ultra-sensitive magnetic amplifiers and pulse transformers.

Soft Magnetic Composites Market Product Insights

Soft magnetic composites containing silicon ferrite are gaining prominence across regions, owing to extensive utilization and rising demand. Positive network externalities is a key factor contributing to the rapid growth of silicon ferrite. Key consumers of soft magnetic composites such as Toshiba Corporation, Schneider Electric SA, and others have utilized silicon ferrite in significant amounts. Silicon ferrite accounts for more than half of the soft magnetic composites demand pie. The second-most utilized type of soft magnetic composites is permalloys, due to their widespread application for manufacturing compact and high performance magnetic composites. Permalloys account for less than a quarter of the global soft magnetic composites market. Owing to the aforementioned market inclination of respective product types, silicon ferrite soft magnetic composites are assessed to progress at a high single digit CAGR over the forecast period of FY2020 – FY2030.

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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.

Product

• Pure Iron/ Iron Powder
• Silicon Ferrite
• Supermalloys
• Permalloys

Application 

• Transformers
• Motors
• Inductors
• Generators

Region

• North America
• Latin America
• Europe
• Japan
• Asia Pacific Excluding Japan
• Middle East & Africa

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