Mar 02, 2021, 09:04 ET
NEW YORK, March 2, 2021 /PRNewswire/ -- Nano crystalline soft magnetic material demand grew at an average of 7.5% CAGR between 2016-2020, and latest research by consulting firm Fact.MR projects sales to expand at 9.5% CAGR through 2031. Recovery in consumer electronics and anticipated opportunities in electric vehicles (EVs) are set to drive growth in 2021 and beyond.
Fact.MR's new study tracks nano crystalline soft magnetic material sales in 20+ high-growth markets, covering sales across key segments and countries.
According to the European Commission Report, the applications of nano crystalline soft magnetic materials in electronic industry has surged owing to its attributes. A recovery in consumer electronics industry will be key to growth in 2021, according to the study.
"Precipitous advancements in the consumer electronics and applications industry to witness a breakthrough in the forecast period owing to the increasing demand from the manufacturers of nano crystalline soft magnetic materials," says a Fact.MR analyst.
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- High cost and time-consuming manufacturing process continues to be a deterrent to wider adoption
- Application in motor and generator manufacturing sustaining demand
- One and two dimensional nano materials remain lucrative
- Exponentially rising adoption in consumer electronics products to boost the demand in Japan.
- Recovery in healthcare and automotive sectors key to demand in Europe
- Owing to the surge in demand from automotive industry, United States to be the epicenter of the North-America market
- China remains one of the most lucrative market for nano crystalline soft magnetic materials.
Some of the leading nano crystalline soft magnetic materials manufacturers profiled by Fact.MR include Bomatec, Henan Zhongyue, Henan Zy Amorphous Technology co. Ltd., Hitachi Metals Ltd., Magnetec, Qingdao Yunlu energy Technology Co. Ltd., VaccumSchmelze, and Vikarsh Stamping India Private Limited among others. Key players are strategizing by launching new higher quality products to generate new proceedings.
Key player, Hitachi Metals Ltd., announced the development of the FT-3K10Q series, common mode choke coils/core with high impedance using FINEMAT, nano crystalline soft magnetic material for improved impedance across a wide frequency and temperature range.
Likewise, in 2018, Henan Zhongyue Amorphous Technology Co. Ltd. launched soft magnetic nano crystalline magnetic ribbon with high saturation flux density, high permeability, and corrosion resistance.
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More Valuable Insights on Nano crystalline soft magnetic materials Market
Fact.MR, in its new offering, presents a detailed analysis of the global nano crystalline soft magnetic materials market. The study divulges essential insights on the nano crystalline soft magnetic materials market on the basis of classification (one dimensional, two dimensional, and three dimensional), application (transformers [portable, transmission and distribution], motors [1 hp-100 hp, 101 hp-200 hp, 201 hp-1000 hp, above 1000 hp], inductors, and generators), end-use (consumer electronics & applications, healthcare, automotive, and semi-conductors), and across major regions of the world (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
Key Questions Covered in the Report
- How will demand for nano crystalline soft magnetic materials market evolve in the future?
- Which are the largest markets for nano crystalline soft magnetic materials?
- What is the impact of regulation on nano crystalline soft magnetic material industry?
- What are best optimization strategies for the key players to achieve the success in the forecast period?
- Who are the leading nano crystalline soft magnetic material manufacturers?
- What is the impact of Covid-19 on nano crystalline soft magnetic materials market?
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