Global Soft Ferrite Market Report Insights
The global soft ferrite market size has witnessed moderate growth at a CAGR of 4.4% over the past half-decade. However, due to the ongoing outbreak of COVID-19, the market has declined by more than 1% in terms of value, and around 0.4% decline in prices over the first 2 quarters of 2020. Post this timeframe, with a resurrection in global demand, the soft ferrite market is forecast to witness a rapid uptake at a CAGR of over 6% during the forecast period (2020-2030).
Distributors have followed the route of speculative demand in the first two quarters of 2020, and significant rise in inventory storage has been observed owing to the rise in confidence of price uptake in Q3 of FY2020. Moreover, reopening of the markets in Europe and East Asia has kick-started the consumption and production of soft ferrite.
Slight inclination of prices around 0.2% has been observed in recent times, owing to a spike in demand across regions. Upswing is prices is attributed to the rise in electrical activities in industries and electrical equipment installation activities in areas across regions.
Soft Ferrite Market Insights by Product
Manganese coupled with zinc ferrite (Mn-Zn Ferrite) is extensively utilized in the electrical industry, owing to its price and majorly due to positive externalities, as many industries manufacturing motors and transformers utilize manganese-zinc ferrite. Moreover, on the technical outlook of the product, it has higher saturation levels and permeability as compared to nickel zinc ferrite. Surge in the demand for Mn-Zn Ferrite is set be observed over the mid-term forecast period.
The second-most utilized ferrite is nickel-zinc ferrite. It has limited utilization in electrical equipment, owing to limitations such as utilization over 1 MHz frequency. Moreover, at exceptional technicalities such as at 70 MHz frequency, both, manganese-zinc and nickel zinc can be used interchangeably. Nickel zinc ferrite captures around one-third of the global soft ferrite market, and is set to expand at a high single digit CAGR over the forecast period.
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Soft Ferrite Market Application Insights
Of the four major applications such as motors, transformers, inductors, and generators of soft ferrite, motors capture a majority of the market share, with a nominal growth rate over the forecast period, owing to attainment of near maturity of soft ferrite utilization in motor applications. Inductors is a rapid growing application of soft ferrite, owing to the immense utilization of Mn-Zn ferrite for manufacturing.
Growing demand for transformers and generators over the historical period could be attributed to increasing sales of generators and electrical development activities. But, in 2020, the market has declined two-fold in the first and second quarters, owing to the COVID-19 pandemic, which has resulted in reduced electrical equipment demand and manufacturing across regions. All in all, on a positive outlook, the market is set to gain pace by the 4th quarter of FY2020.
Regional Outlook of Soft Ferrite Market
Asia Pacific excluding Japan accounted for the largest soft ferrite market share in 2019. This trend is anticipated to continue throughout the forecast period. Currently, Asia Pacific excluding Japan accounts for nearly one-third of soft ferrite demand. Rise in consumption of soft ferrite in APEJ is mainly due to increasing industrial and electrical development activities.
Promising growth of the soft ferrite market has been observed in Japan over the historical period. This is attributed to increasing consumption of soft ferrite in electrical applications such as transformers and motors. Moreover, rise in power industry projects could bolster the demand for soft ferrite further in the country. Followed by Japan, North America is expanded at around 6% CAGR over the historical period, owing to rise in electrical equipment production in the region. Key market players in the electrical industry is the region, such as General Electric portray an upward movement of soft ferrite consumption.
However, the COVID-19 pandemic has contracted demand, thus affecting the production of soft ferrite. This trend is anticipated to continue for more than 6 months. By the 4th quarter of 2020, the market is set to recover its pace. The market will gain momentum once sites related to the electrical and manufacturing industry resume operations to the full.
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Soft Ferrite Market Manufacturers: Key Strategies
The global soft ferrite market is fairly consolidated in nature. Voestalpine Stahl GmbH, Hitachi Metals Ltd, and Toshiba Corp (Toshiba Materials Co., Ltd.) are among the tier 1 players. Together, they are anticipated to account for more than 50% of the global market share in 2020. Key manufacturers are observed to be involved in extensive research, product development, and catering products to promising and niche applications to enhance their market share. Prominent manufacturers have also showcased inorganic strategies. For instance, in August 2016, MMG acquired Sinome Ferrites based in Brazil. This acquisition is set to enhance ferrite offerings across the Americas.
The Analyst’s Viewpoint
“Intensive research & development among key stakeholders to cater to promising applications shall remain a key priority in this space.”
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COVID-19 Impact on Soft Ferrite Market
The coronavirus pandemic has brought the whole world to a standstill. Business activities have registered a downturn in the form of dwindling sales due to reduced production and demand. The same is true for the soft ferrite market. A prominent end use of soft ferrite is electrical application. The ongoing pandemic has led to a decline in all industrial activities, in the wake of disrupted supply chains.
Extended lockdowns across different countries have hurt the production of soft ferrite over the past few months, as key manufacturing units and factories are shut. Even after lockdowns are lifted, it will take at least a couple of quarters to restore production to normal. Thus, contracting demand from allied industries in 2020 will have a prolonged adverse effect on the growth of the global soft ferrite market.
Soft Ferrite Market: About the Report
Fact.MR published an exclusive forecast report on the soft ferrite market for 2020 and 2030. The foremost objective of this report on the soft ferrite market is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the soft ferrite market. Also, the study on the soft ferrite market addresses key dynamics that are expected to diversify the sales and future prominence of soft ferrite.
The report on the soft ferrite market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the soft ferrite market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the soft ferrite market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors for soft ferrite.
Supply chain analysis and pricing analysis of the soft ferrite market, along with the difference between soft ferrite used as per application, has also been included in the report to help readers clearly understand the product framework map of the soft ferrite market.
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Soft Ferrite Market Segmentation
Fact.MR has studied the soft ferrite market with detailed segmentation on the basis of product, application, and key regions.
- Mn-Zn Ferrite
- Ni-Zn Ferrite
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East & Africa
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
Soft Ferrite Market- Scope Of The Report
A recent study by Fact.MR on the soft ferrite market offers a 10-year forecast for 2020 to 2030. The study analyzes crucial trends that are currently determining the growth of the soft ferrite market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of soft ferrite. The study also provides dynamics that are responsible for influencing the future status of the soft ferrite market over the forecast period.
A detailed assessment of soft ferrite value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the soft ferrite market along with their product portfolio enhances the reliability of this comprehensive research study.
Soft Ferrite Market: Report Summary
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales in the soft ferrite market across the globe. A comprehensive estimate on the soft ferrite market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of soft ferrite during the forecast period. Price point comparison by region with global average price is also considered in the study.
Soft Ferrite Market: Analysis on Market Size Evaluation
The soft ferrite market has been analyzed for each market segment in terms of volume (Tons) and value (US$ Mn).
Market estimates at global and regional levels for soft ferrite are available in terms of “US$ Mn” for value and in “Tons” for volume. A Y-o-Y growth contrast on prominent soft ferrite market segments, along with market attractiveness evaluation has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering sales and distribution perspective in the global soft ferrite market.
Soft Ferrite Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the soft ferrite market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the soft ferrite market during the forecast period.
Country-specific valuations on the demand for soft ferrite have been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Soft Ferrite Market: In-Depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers in the soft ferrite market, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of the soft ferrite has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies, along all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting market status and predicting the competition level in the soft ferrite market.
Prominent companies operating in the global soft ferrite market include Voestalpine Stahl GmbH, Hitachi Metals Ltd, Toshiba Corp (Toshiba Materials Co., Ltd.), Höganäs AB, GKN Plc, VACUUMSCHMELZE GmbH & Co. KG, PMG Holding GmbH, Hengdian Group DMEGC Magnetics Co., Ltd., Rio Tinto PLC, and others
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