According to the report by Expert Market Research (EMR), the global amorphous soft magnetic materials market is projected to grow at a CAGR of 4.83% between 2024 and 2032. Aided by the surge in demand across various industries, the market is expected to grow significantly by 2032.
Amorphous soft magnetic materials are uniquely structured metals, distinguished by their non-crystalline nature. This lack of a crystalline structure leads to remarkably low levels of energy loss during magnetic processes, making them ideal for a wide range of applications, including transformers, motors, and inductors. These materials are primarily used in the electrical and electronics industry due to their efficiency in energy conversion and minimal power loss characteristics.
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The driving force behind the robust amorphous soft magnetic materials market growth is the escalating demand for energy-efficient electrical components. As the world gravitates towards sustainable energy practices, the need for materials that can reduce energy wastage has become paramount. Amorphous soft magnetic materials, with their low core loss and high permeability, are perfectly aligned with this global shift towards energy efficiency.
Another significant factor contributing to the amorphous soft magnetic materials market share is the expanding use of these materials in the manufacturing of high-performance electrical devices. The rise in the production of electric vehicles (EVs) and the increasing focus on renewable energy sources like solar and wind power have bolstered the demand for amorphous soft magnetic materials. These materials are integral in the production of high-efficiency transformers and inductors, which are essential components in these industries.
In addition, technological advancements in the field of amorphous soft magnetic materials have opened up new opportunities. Researchers and manufacturers are continuously working on enhancing the properties of these materials, such as increasing their thermal stability and mechanical strength, to broaden their application scope. This ongoing research and development are set to further propel the amorphous soft magnetic materials market demand.
The market for amorphous soft magnetic materials also benefits from the increasing focus on the miniaturisation of electronic devices. As devices become smaller and more compact, the demand for materials that can operate efficiently in limited spaces grows. Amorphous soft magnetic materials, with their high saturation magnetisation and low coercivity, are ideal for such applications, thus driving their adoption in the electronics sector.
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Amorphous Soft Magnetic Materials Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Iron-based
- Fe-Ni-based
- Cobalt-based
- Others
Market Breakup by Application
- Flexible Antenna
- Transformers
- Magnetic Sensors
- Magnetic Shielding
- Electronic Article Surveillance
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global amorphous soft magnetic materials market. Some of the major players explored in the report by Expert Market Research are as follows:
- Toshiba Materials Co., Ltd.
- VACUUMSCHMELZE GmbH & Co. KG
- Hitachi Metals, Ltd.
- Bomatec AG
- Advanced Technology & Materials Co., Ltd.
- MK Magnetics, Inc.
- Others
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