Apr 13, 2020
Trend of Inductive Charging to Accelerate Nano Crystalline Soft Magnetic Materials Market on Stellar Growth Trajectory, Finds Fact.MR
by Team Fact.MR
Proliferation of smartphones that can be inductively charged are set to increase the demand of nano crystalline soft magnetic materials. These materials offer high transmission and outstanding shielding performance against external interference fields. Growing consumer interest in wireless charging and its convenience have driven the robust demand for wireless charging smartphones which in turn has spurred consumption of nano crystalline soft magnetic materials.
On the back of its ability in offering highly efficient power transmission, nano crystalline soft magnetic materials have emerged as an ideal material for inductive charging applications. This will drive the global nano crystalline soft magnetic materials market to grow at a CAGR of ~10% during the forecast period (2020-2030).
Key Takeaways of Nano Crystalline Soft Magnetic Materials Market:
- Increasing consumption of nanocrystalline soft magnetic materials in electric vehicles for a range of applications like inverters, on board chargers, batteries, DCDC convertors and motors will create lucrative opportunities for market players
- On the basis of Dimension, two dimensional nano crystalline soft magnetic materials will experience prolific growth of ~11% during the forecast period creating an absolute $ opportunity worth US$ 2,637 Mn by 2030
- On the basis of application, motors segment is set to remain the largest consumer of nano crystalline soft magnetic materials accounting for nearly one third of the market share by 2030
- Consumer electronics has dominated the consumption of nano crystalline soft magnetic materials in 2019 and is set to account for more than one third of the market share in 2030.
- United States and China together have driven the global consumption of nano crystalline soft magnetic materials and are set to maintain their supremacy collectively creating an absolute $ opportunity worth US$ 2127 Mn by 2030
- In the wake of the ongoing COVID-19 pandemic, key manufactures, such as Hitachi Construction Machinery Co., Ltd., have reported that the company’s production activities globally have been downsized, owing to prolonged tightening of restrictions by governments, including bans on international travel.
“Numerous applications of nano crystalline soft magnetic materials in photovoltaic systems for current sensors, common mode chokes and cores is anticipated to create lucrative growth avenues for market players”, says the Fact.MR analyst.
Production Capacity Expansions by Market Goliaths to Create Over Supply in Market
Nano crystalline soft magnetic materials market is highly consolidated market in nature in which a fraction of players account for near half of the global market. Hitachi Metals Ltd., VacuumSchmelze, Magnetec and Bomatec are the leading players in the market. Aforementioned prominent players are set to maintain their dominance owing to their inline production capacity expansions during the historical period. Additionally, market goliaths have expanded their product portfolio to address the increasing demand for nano crystalline soft magnetic materials for many applications.
More Valuable Insights on Nano Crystalline Soft Magnetic Materials Market:
Fact.MR, in its new offering, presents an unbiased analysis of the nano crystalline soft magnetic materials market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the nano crystalline soft magnetic materials on the basis of classification (one dimensional, two dimensional and three dimensional), application (transformers, motors, inductors and generators) and end use industry (consumer electronics & applications, healthcare, automotive and semiconductor) across six major regions.
>>> To Get more insights on nano crystalline soft magnetic materials market, visit- https://www.factmr.com/report/771/nano-crystalline-soft-magnetic-materials-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs and requirements of entire value chain of Chemical & Materials sector. A team of passionate analysts track the performance of the existing Chemicals & Materials as well as those that have just entered their product life cycle. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed Chemicals & Materials lucidly in 50+ countries for over a decade. The Chemicals & Materials team at Fact.MR has been assisting clients in their business expansion as well as new ventures, through their analysis and recommendations.