Global Soft Magnetic Core Consumption Market Size By Product(Ferrite Core, Powder Core, and Amorphous Core), By Application(SMPS, Power Inductors, Transformer, Inverter), By Geographic Scope And Forecast

Soft Magnetic Core Consumption Market Size And Forecast

Soft Magnetic Core Consumption Market size was valued at USD 19,701.97 Million in 2020 and is projected to reach USD 27,850.47 Million by 2028, growing at a CAGR of 4.56 % from 2021 to 2028.

With the increasing demand for soft magnetic core material from the automotive industry the market is experiencing a tremendous growth. The Global Soft Magnetic Core Consumption Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

What is Soft Magnetic Core Consumption?

A magnetic core is a piece of magnetic material having a high magnetic permeability. The soft magnetic core is used for confining and guiding magnetic fields in various electrical, electrochemical, and magnetic devices such as electromagnets, transformers, electric motors, generators, magnetic recording heads, and magnetic assemblies. Properties of Soft magnetic material that are advantageous are Permeability, Coercivity, Electromagnets and Relays, Transformers, motors and generators, Saturation and magnetization, and Hysteresis loss. It also has other benefits in the automotive applications such as Traction motors, Air conditioning compressors, Pumps (cooling, oil, etc.), DC/DC converters, and On-vehicle chargers.

Global Soft Magnetic Core Consumption Market Overview

The demand for soft magnetic core material is skyrocketing thanks to the auto industry! And when we say "auto industry," we mean a huge group of folks involved in everything from designing and building cars to selling and marketing them. These companies basically break down into two groupsthe car makers themselves and the companies that make all the parts. They're all hungry for electronic components that boost efficiency and are super reliable. Modern vehicles are way more complex these days, packed with way more electronics than ever before. Plus, we're seeing more and more soft magnetic cores in transformers and inverters used in everyday appliances like washing machines, TVs, air conditioners, and refrigerators, all to make them run smoother and more efficiently. All this combined is seriously fueling market growth.

However, the concern associated with the prices of the raw materials is restricting the growth of the market. The raw material required for making soft magnetic core include iron, nickel, molybdenum, silicon, and aluminum. As economies reopen in various parts of the world, the price of some commodities has soared, including the prices of prominent industrial metals. The market has also witness the negative impact owing to the Covid-19 pandemic effect.

Global Soft Magnetic Core Consumption MarketSegmentation Analysis

The Global Soft Magnetic Core Consumption Market is segmented based on Product, Application, and Geography.

Soft Magnetic Core Consumption Market by Product

• Ferrite Core
• Powder Core
• Amorphous Core

Based on Product, the market is bifurcated into Ferrite Core, Powder Core, and Amorphous Core. Ferrite Core accounted for the largest market share in 2020, with a market and is projected to grow at the highest CAGR of 4.68% during the forecast period. Powder Core was the second-largest market in 2020. Ferrite cores are dense, homogenous ceramic structures created by combining iron oxide (Fe2O3) with metal oxides or carbonates such as manganese, zinc, nickel, or magnesium. They are pressed, and then fired at 1300°C in a kiln before being machined to satisfy varied operating needs.

Soft Magnetic Core Consumption Market by Application

• SMPS
• Power Inductors
• Transformer
• Inverter
• Others

To Get Summarized Market Report By Application-

So, when we look at how soft magnetic cores are used, the market kind of splits up into different applications. Specifically, we're seeing the consumption of these cores being broken down into areas like SMPS (that's Switch Mode Power Supplies), power inductors, transformers, inverters, and, well, others. Back in 2020, SMPS was the big dog, taking the biggest slice of the pie, and we're expecting it to keep growing at around 4.29% each year. Power inductors weren't far behind, holding the number two spot in 2020. Interestingly, the "others" category is actually predicted to grow the fastest! Think about itSwitching power supplies are super efficient, which is why you find them everywhere – especially in sensitive electronics like computers, where you need a really stable and reliable power source.

Soft Magnetic Core Consumption Market by Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

To Get Summarized Market Report By Geography-

When we look at the world based on geography, the Global Soft Magnetic Core Consumption Market breaks down into a few key areasNorth America, Europe, Asia Pacific, and then "the rest of the world." Asia Pacific really led the way, snagging the biggest slice of the market in 2020, and we're expecting it to keep growing fast, maybe even at a rate of 5.01% annually. North America came in second in 2020. You've got China and India there, two of the world's most populated countries, which are driving a lot of growth. Over the last decade, things like people having more money to spend and a growing middle class have really boosted the market share in Asia. Plus, with more folks buying gadgets and the push for renewable energy, places like China, India, and Japan are seeing some serious market growth too.

Key Players

The “Global Soft Magnetic Core Consumption Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Hitachi, Delta Magnets Group, TDK, DMEGC, AT&M, Magnetics, POCO Magnetic, Fastron, Acme Electronics, and Nanjing New Conda, and others.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally. The major players in the market are Hitachi, Delta Magnets Group, TDK

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Reasons to Purchase this Report

We'll dive deep into the market, using both qualitative and quantitative analysis to understand it by breaking it down into segments, considering both economic and non-economic stuff. We'll give you the market value in USD Billion for each segment and sub-segment. You'll discover which region and segment is predicted to grow the fastest and be the biggest. We'll analyze each geographic area, showing how much the product or service is used and what's influencing the market there. Get the scoop on the competitive landscape, including the market ranking of the top players, plus their new service/product launches, partnerships, expansions, and acquisitions over the last five years, all wrapped up in company profiles. Expect detailed company profiles with an overview, insights, product benchmarking, and a SWOT analysis for the main players. We'll cover the current and future outlook, touching on growth opportunities and drivers, plus the challenges and restraints in both new and established regions. We'll also give you an in-depth look at the market from different angles with Porter's five forces analysis, providing insight into the market through the value chain. You'll get a clear picture of market dynamics and growth opportunities down the road, plus, you get 6-month analyst support after purchase.

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