PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1273595
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1273595
Amorphous Soft Magnetic Materials Market Forecasts to 2028 - Global Analysis By Type, By Application and By Geography
According to Stratistics MRC, the Global Amorphous Soft Magnetic Materials Market is accounted for $652.6 million in 2022 and is expected to reach $1018.5 million by 2028 growing at a CAGR of 7.7% during the forecast period. Materials that are easily magnetised and demagnetized are known as soft magnetic materials. Amorphous soft magnetic materials often have high permeability, low eddy current, low hysteresis losses, little remnant magnetization, low coercivity, and low eddy current. These materials' remarkable magnetic capabilities make them suitable for a wide range of uses, including sensors, high-frequency inductors, transformers, shielding, and electronic article surveillance systems.
According to the International Energy Agency, in 2018, 45% of the electric cars were on the road in China, as compared to 39% in 2017.
Market Dynamics:
Driver:
Combination of nano-crystalline alloys with amorphous soft magnetic materials
Both amorphous and nanocrystalline alloys were popular among scientists due to their superior mechanical and functional qualities. Although each of these materials performs well on its own, some underlying problems like poor ductility and decreased thermal stability need to be resolved. In order to create amorphous-nanocrystalline alloys with outstanding magnetic characteristics, high thermal stability, and ductility, ongoing research is being conducted to develop new manufacturing techniques that integrate these two material types.
Restraint:
Availability and wide acceptance of other soft magnetic materials
The market for soft magnetic materials has an extensive range of other soft magnetic materials, including iron/powder core, grain-oriented electrical steel, non-oriented electrical steel, soft ferrites, Ni-Fe, and CO-Fe. The production of electrical and electronic components also employs them. Together, grain-oriented electrical steel and non-oriented electrical steel hold more than 80% of the market share for soft magnetic materials worldwide. Amorphous and nanocrystalline alloys, on the other hand, only make for 2-3% of the total output of soft magnetic materials. Therefore, a major obstacle to the expansion of the global market for amorphous soft magnetic materials is the availability and widespread acceptance of substitute soft magnetic materials.
Opportunity:
Growing usage in electrical and electronic applications
Iron, nickel, and/or cobalt are the initial investment metals in amorphous alloys, together with boron, carbon, phosphorus, or silicon. Industrial users are using magnetic components made from amorphous alloys to operate processes more effectively, save energy, and save operating costs. Amorphous soft magnetic materials are ideal for the majority of electrical and electronic applications due to important characteristics like lower core losses at higher frequencies, higher & wide range of permeability, increased operational temperatures, low coercive field, core weight & volume reduction ability, excellent corrosion resistance, versatility, good mechanical strength, flux density, and various hysteresis loops, among others. It would fuel the expansion of this market further.
Threat:
Geopolitical issues
The key issues that the players in the amorphous soft magnetic materials industry have to deal with over the short and medium-term forecast include shifting consumer preferences in a scenario of projected economic downturn, changes to industrial policies to reflect growing environmental concerns, enormous fluctuations in raw material costs caused by current geo-political tensions, and anticipated economic turbulences.
COVID-19 Impact:
The COVID-19 outbreak has abruptly increased the need for medical equipment, including ventilators, MRI machines, and CT scanners. The Society of Critical Care Medicine predicted in March 2020 that during the pandemic in the United States, around 9,60,000 individuals would be placed on ventilators. Local ventilator manufacturers improved their production capacity to keep up with the escalating demand. Since the COVID-19 outbreak, GE Healthcare has doubled its production capacity and partnered with Ford to streamline the current ventilator design and quickly produce it. As a result, it is anticipated that producers of electrical motors, magnetic switches, and magnetic sensors for use in medical applications will require more of this kind of soft magnetic material.
The transformer segment is expected to be the largest during the forecast period
Due to its outstanding strength-to-weight ratio, the transformer category is anticipated to have the largest market share over the forecast period. The amorphous metal core also contributes significantly to the reduction of the overall weight of the transformer and provides enhanced energy efficiency. Additionally, reduced energy use and operating temperatures also assist in maintaining low CO2 emissions. As a result, amorphous metal transformers are essential for creating sustainable approaches to energy distribution. However, during the predicted period, the demand for amorphous soft magnetic materials would increase due to the demand for these transformers.
The Fe-based segment is expected to have the highest CAGR during the forecast period
The Fe-based segment is estimated to witness lucrative growth over the forecast period due to its benefits, such as high saturation magnetic induction, magnetic permeability, resistivity, low coercivity, and low iron core loss. Fe-based amorphous/ nanocrystalline soft magnetic alloys are widely used in high-tech industries, including communications and computers.
Region with largest share:
Asia Pacific led the global market for amorphous soft magnetic materials in 2019 and is anticipated to dominate the market over the next few years. China is one of the top producers of amorphous metal transformers in this region. As a result, there is an increasing demand for these resources across the nation. Additionally, it is anticipated that growing electric vehicle use will offer new growth prospects for the Chinese market. Moreover, due to an increased focus on smart manufacturing, e-mobility, and a shift to sustainable energy, the industry is constantly concentrating on developing electronics solutions for the manufacturing and automotive industries.
Region with highest CAGR:
Due to the rise in electric vehicle use worldwide and the region's position as the world's manufacturing hub for electronic and electrical components, the Asia-Pacific region is predicted to experience profitable growth over the course of the forecast period. Additionally, leading electric vehicle producers like Tesla have initiated investments in the Chinese market to take advantage of potential market prospects. Therefore, it is anticipated that during the projection period, China will experience a growth in demand for amorphous soft magnetic materials used in the production of electric vehicle components.
Key players in the market:
Some of the key players in Amorphous Soft Magnetic Materials market include: Advanced Technology & Materials Co., Ltd., AMES SA, Arnold Magnetic Technologies, Bomatec AG, China Amorphous Technology Co., Ltd., GKN Sinter Metals, Hitachi Metals, Ltd., MK Magnetics, Inc., Powder Metal Group (PMG), Steward Advanced Materials, Toshiba Materials Co., Ltd. and Vacuumschmelze GmbH & Co. KG.
Key Developments:
In January 2018, Hitachi Metals developed a Magnetic Domain Control Type Fe-base Amorphous Metal, MaDC-A, a new product with significantly reduced core loss.
Types Covered:
- Cobalt-based
- Fe-Ni-based
- Iron-based
- Other Types
Applications Covered:
- Electronic Article Surveillance
- Flexible Antenna
- Magnetic Sensors
- Magnetic Shieldings
- Transformers
- Other Applications
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 2020, 2021, 2022, 2025, and 2028
- 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
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Amorphous Soft Magnetic Materials Market, By Type
- 5.1 Introduction
- 5.2 Cobalt-based
- 5.3 Fe-Ni-based
- 5.4 Iron-based
- 5.5 Other Types
6 Global Amorphous Soft Magnetic Materials Market, By Application
- 6.1 Introduction
- 6.2 Electronic Article Surveillance
- 6.3 Flexible Antenna
- 6.4 Magnetic Sensors
- 6.5 Magnetic Shieldings
- 6.6 Transformers
- 6.7 Other Applications
7 Global Amorphous Soft Magnetic Materials Market, By Geography
- 7.1 Introduction
- 7.2 North America
- 7.2.1 US
- 7.2.2 Canada
- 7.2.3 Mexico
- 7.3 Europe
- 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
- 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
- 7.5.1 Argentina
- 7.5.2 Brazil
- 7.5.3 Chile
- 7.5.4 Rest of South America
- 7.6 Middle East & Africa
- 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
- 8.2 Acquisitions & Mergers
- 8.3 New Product Launch
- 8.4 Expansions
- 8.5 Other Key Strategies
9 Company Profiling
- 9.1 Advanced Technology & Materials Co., Ltd.
- 9.2 AMES SA
- 9.3 Arnold Magnetic Technologies
- 9.4 Bomatec AG
- 9.5 China Amorphous Technology Co., Ltd.
- 9.6 GKN Sinter Metals
- 9.7 Hitachi Metals, Ltd.
- 9.8 MK Magnetics, Inc.
- 9.9 Powder Metal Group (PMG)
- 9.10 Steward Advanced Materials
- 9.11 Toshiba Materials Co., Ltd.
- 9.12 Vacuumschmelze GmbH & Co. KG
List of Tables
- Table 1 Global Amorphous Soft Magnetic Materials Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Amorphous Soft Magnetic Materials Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Amorphous Soft Magnetic Materials Market Outlook, By Cobalt-based (2020-2028) ($MN)
- Table 4 Global Amorphous Soft Magnetic Materials Market Outlook, By Fe-Ni-based (2020-2028) ($MN)
- Table 5 Global Amorphous Soft Magnetic Materials Market Outlook, By Iron-based (2020-2028) ($MN)
- Table 6 Global Amorphous Soft Magnetic Materials Market Outlook, By Other Types (2020-2028) ($MN)
- Table 7 Global Amorphous Soft Magnetic Materials Market Outlook, By Application (2020-2028) ($MN)
- Table 8 Global Amorphous Soft Magnetic Materials Market Outlook, By Electronic Article Surveillance (2020-2028) ($MN)
- Table 9 Global Amorphous Soft Magnetic Materials Market Outlook, By Flexible Antenna (2020-2028) ($MN)
- Table 10 Global Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Sensors (2020-2028) ($MN)
- Table 11 Global Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Shieldings (2020-2028) ($MN)
- Table 12 Global Amorphous Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) ($MN)
- Table 13 Global Amorphous Soft Magnetic Materials Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 14 North America Amorphous Soft Magnetic Materials Market Outlook, By Country (2020-2028) ($MN)
- Table 15 North America Amorphous Soft Magnetic Materials Market Outlook, By Type (2020-2028) ($MN)
- Table 16 North America Amorphous Soft Magnetic Materials Market Outlook, By Cobalt-based (2020-2028) ($MN)
- Table 17 North America Amorphous Soft Magnetic Materials Market Outlook, By Fe-Ni-based (2020-2028) ($MN)
- Table 18 North America Amorphous Soft Magnetic Materials Market Outlook, By Iron-based (2020-2028) ($MN)
- Table 19 North America Amorphous Soft Magnetic Materials Market Outlook, By Other Types (2020-2028) ($MN)
- Table 20 North America Amorphous Soft Magnetic Materials Market Outlook, By Application (2020-2028) ($MN)
- Table 21 North America Amorphous Soft Magnetic Materials Market Outlook, By Electronic Article Surveillance (2020-2028) ($MN)
- Table 22 North America Amorphous Soft Magnetic Materials Market Outlook, By Flexible Antenna (2020-2028) ($MN)
- Table 23 North America Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Sensors (2020-2028) ($MN)
- Table 24 North America Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Shieldings (2020-2028) ($MN)
- Table 25 North America Amorphous Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) ($MN)
- Table 26 North America Amorphous Soft Magnetic Materials Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 27 Europe Amorphous Soft Magnetic Materials Market Outlook, By Country (2020-2028) ($MN)
- Table 28 Europe Amorphous Soft Magnetic Materials Market Outlook, By Type (2020-2028) ($MN)
- Table 29 Europe Amorphous Soft Magnetic Materials Market Outlook, By Cobalt-based (2020-2028) ($MN)
- Table 30 Europe Amorphous Soft Magnetic Materials Market Outlook, By Fe-Ni-based (2020-2028) ($MN)
- Table 31 Europe Amorphous Soft Magnetic Materials Market Outlook, By Iron-based (2020-2028) ($MN)
- Table 32 Europe Amorphous Soft Magnetic Materials Market Outlook, By Other Types (2020-2028) ($MN)
- Table 33 Europe Amorphous Soft Magnetic Materials Market Outlook, By Application (2020-2028) ($MN)
- Table 34 Europe Amorphous Soft Magnetic Materials Market Outlook, By Electronic Article Surveillance (2020-2028) ($MN)
- Table 35 Europe Amorphous Soft Magnetic Materials Market Outlook, By Flexible Antenna (2020-2028) ($MN)
- Table 36 Europe Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Sensors (2020-2028) ($MN)
- Table 37 Europe Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Shieldings (2020-2028) ($MN)
- Table 38 Europe Amorphous Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) ($MN)
- Table 39 Europe Amorphous Soft Magnetic Materials Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 40 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Country (2020-2028) ($MN)
- Table 41 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Type (2020-2028) ($MN)
- Table 42 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Cobalt-based (2020-2028) ($MN)
- Table 43 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Fe-Ni-based (2020-2028) ($MN)
- Table 44 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Iron-based (2020-2028) ($MN)
- Table 45 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Other Types (2020-2028) ($MN)
- Table 46 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Application (2020-2028) ($MN)
- Table 47 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Electronic Article Surveillance (2020-2028) ($MN)
- Table 48 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Flexible Antenna (2020-2028) ($MN)
- Table 49 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Sensors (2020-2028) ($MN)
- Table 50 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Shieldings (2020-2028) ($MN)
- Table 51 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) ($MN)
- Table 52 Asia Pacific Amorphous Soft Magnetic Materials Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 53 South America Amorphous Soft Magnetic Materials Market Outlook, By Country (2020-2028) ($MN)
- Table 54 South America Amorphous Soft Magnetic Materials Market Outlook, By Type (2020-2028) ($MN)
- Table 55 South America Amorphous Soft Magnetic Materials Market Outlook, By Cobalt-based (2020-2028) ($MN)
- Table 56 South America Amorphous Soft Magnetic Materials Market Outlook, By Fe-Ni-based (2020-2028) ($MN)
- Table 57 South America Amorphous Soft Magnetic Materials Market Outlook, By Iron-based (2020-2028) ($MN)
- Table 58 South America Amorphous Soft Magnetic Materials Market Outlook, By Other Types (2020-2028) ($MN)
- Table 59 South America Amorphous Soft Magnetic Materials Market Outlook, By Application (2020-2028) ($MN)
- Table 60 South America Amorphous Soft Magnetic Materials Market Outlook, By Electronic Article Surveillance (2020-2028) ($MN)
- Table 61 South America Amorphous Soft Magnetic Materials Market Outlook, By Flexible Antenna (2020-2028) ($MN)
- Table 62 South America Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Sensors (2020-2028) ($MN)
- Table 63 South America Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Shieldings (2020-2028) ($MN)
- Table 64 South America Amorphous Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) ($MN)
- Table 65 South America Amorphous Soft Magnetic Materials Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 66 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Country (2020-2028) ($MN)
- Table 67 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Type (2020-2028) ($MN)
- Table 68 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Cobalt-based (2020-2028) ($MN)
- Table 69 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Fe-Ni-based (2020-2028) ($MN)
- Table 70 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Iron-based (2020-2028) ($MN)
- Table 71 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Other Types (2020-2028) ($MN)
- Table 72 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Application (2020-2028) ($MN)
- Table 73 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Electronic Article Surveillance (2020-2028) ($MN)
- Table 74 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Flexible Antenna (2020-2028) ($MN)
- Table 75 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Sensors (2020-2028) ($MN)
- Table 76 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Magnetic Shieldings (2020-2028) ($MN)
- Table 77 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Transformers (2020-2028) ($MN)
- Table 78 Middle East & Africa Amorphous Soft Magnetic Materials Market Outlook, By Other Applications (2020-2028) ($MN)
