Nano Crystalline Soft Magnetic Materials Make Inroads in Automotive Industry, Sales to Increase by 9.5% CAGR: Fact.MR
Nano Crystalline Soft Magnetic Materials Demand Rising as Industries Turn to Sustainable Energy Sources: Fact MR
The nano crystalline soft magnetic materials market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the growth trajectory through 2031. The survey offers nano crystalline soft magnetic materials demand outlook and studies opportunities existing in key segments, including radiation and monitoring products and detectors. It also highlights key strategies adopted by market players to increase product sales
NEW YORK, Aug. 5, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact.MR analysis, the nano crystalline soft magnetic materials market was estimated to be worth US$ 365 Mn in 2020. With integration of power electronics in the automotive sector, the market is forecast to expand at a strong CAGR of 9.5% between 2021 and 2031.
Nano crystalline soft magnetic materials are key to efficient operation of next generation power electronics and electrical machines such as motors and generators.
The unique mechanical, chemical and quantum properties of nano crystalline soft magnetic materials make them ideal for various applications, ranging from transformers and electric vehicles to inverter devices.
These materials help in reducing dimensions of electronic components, improving their efficiency and reducing weight and costs without compromising on their magnet performance.
Sales of nano crystalline soft magnetic materials are soaring with increasing adoption of high frequency transformers and reactors in power generation. These soft magnetic materials exhibit high permeability and enhanced saturation flux density along with low core loss, high temperature resistance and high frequency characteristics.
With the expansion of electric automotive industry, demand for soft magnetic materials skyrocketed. As these soft magnetic materials help to reduce vehicle weight, they are being extensively used in motor driven systems.
Manufacturers are continuously focusing on developing soft magnetic components with high performance and low energy losses at comparatively low costs.
By application, transformers segment leads the market. Growing demand for electricity and expansion of transmission and distribution network will bolster the sales of nano crystalline soft magnetic materials.
Asia Pacific excluding Japan (APEJ) will remain the most lucrative market for nano crystalline soft magnetic materials. This can be attributed to the rapid industrialization witnessed across various nations along with growing need for electricity transmission in the region.
"The demand is expected to soar in response to the increasing production of electric vehicles. Focus on electro-mobility is at all-time high and so is the demand for nano crystalline soft magnetic materials to produce compact size power supply kits that will complement the next-generation and lightweight electric vehicles", says the Fact.MR analyst.
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Key companies operating in the nano crystalline soft magnetic materials market are focusing on expanding their customer base across the world. They are adopting various organic and inorganic growth strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.
In 2020, LG Innotek announced the launch of "highly efficient" ferrite with the lowest power loss. The material can be used for ultra-slim smart TVs and vehicles.
In July 2020, the Fraunhofer Institution for Manufacturing Technology and Advanced Materials (IFAM) launched a new research area working group on soft magnetic materials. The aim of the institution's research is to produce soft magnetic components which can reduce energy losses,
Some of the prominent players operating in the nano crystalline soft magnetic materials market profiled by Fact.MR are:
China Amorphous Technology
Londerful New Material
More Insights on the Global Nano Crystalline Soft Magnetic Materials Sales Outlook
Fact.MR provides an unbiased analysis of nano crystalline soft magnetic materials market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for nano crystalline soft magnetic materials products with a detailed segmentation on the basis of:
End Use Industry
Consumer Electronics & Applications
Asia Pacific excluding Japan
Middle East & Africa
Key Questions Covered in the Nano Crystalline Soft Magnetic Materials Sales Outlook Report
The report offers insight into nano crystalline soft magnetic materials demand outlook for 2021-2031
The market study also highlights projected sales growth for nano crystalline soft magnetic materials market between 2021 and 2031
Nano crystalline soft magnetic materials market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Nano crystalline soft magnetic materials market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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