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Nanocrystalline Soft Magnetic Materials Market

Nanocrystalline Soft Magnetic Materials Market

Nanocrystalline Soft Magnetic Materials Market Analysis By Classification (One Dimensional, Two Dimensional & Three Dimensional) By Application, By End-Use Industry & By Region – Global Market Insights 2021-2031

Nanocrystalline Soft Magnetic Materials Market
FACT771MR

Market Snapshot

According to Fact.MR, the nanocrystalline soft magnetic materials market is likely to register an impressive valuation by 2031. Increasing need for power electronics with the ability to offer high performance at high frequencies will amplify the demand and drive market expansion at around 9.5% CAGR through 2031.

Key Points Covered in Nano Crystalline Soft Magnetic Materials Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • COVID-19 Impact on the Nano Crystalline Soft Magnetic Materials Sales and How to Navigate
  • Recommendation on Key Winning Strategies

Consumption Analysis of Nano Crystalline Soft Magnetic Materials from 2016-2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider, over the last 5 years, the global market for nanocrystalline soft magnetic materials expanded at close to 3% CAGR. In 2020, the market was valued at around US$ 365 Mn.

Nano crystalline soft magnetic materials exhibit high permeability, enhanced saturation flux density, low core loss, high-temperature resistance, low ageing effects, and high-frequency characteristics.

Efforts and expenditure for developing effective materials to improve product performance are likely to play a key role in market expansion.

Furthermore, automotive electrification and rising competition between key players in the global market are expected to drive market growth.

All these factors create an ideal environment for nano crystalline soft magnetic materials growth,  expected to grow at nearly 9.5% CAGR by 2031.

How is Automotive Electrification Fueling Global Market Demand?

Electric vehicles have created significant demand for compact-sized power supply circuits with reduced weight. Continuous downsizing and space-saving designs generate noise at high-frequency ranges, which cannot be suppressed by conventional soft magnetic materials. 

Thus, electro-mobility is considered to be one of the most recent and dynamically emerging areas where nano-crystalline soft magnetic materials will witness high adoption.

According to research conducted by International Energy Agency, in European countries, Battery Powered Electric Vehicles registrations accounted for 54% of electric car registrations in 2020, continuing to exceed those of plug-in hybrid electric vehicles (PHEVs). 

Increasing consumption of nano crystalline soft magnetic materials in electric vehicles and other range of applications like inverters, onboard chargers, batteries, DCDC converters, and motors will create lucrative avenues for market players. 

Furthermore, robust growth of the electric and hybrid vehicles market with increased adoption of nano crystalline soft magnetic materials in automotive is poised to drive the market at a CAGR of ~10% during the forecast period (2021-2031).

How is Demand for High-Performance Magnetic Materials Spurring Sales?

Impressive high switching frequency and low core losses offered by nano crystalline soft magnetic materials are set to make it a material of choice in power electronic applications. 

Surging demand for power electronics with the ability to offer high performance at high frequencies will amplify the demand for nano crystalline soft magnetic materials.

Additionally, attributed to its high magnetic permeability and flux density, nano crystalline soft magnetic materials have emerged as an ideal soft magnetic material in widespread applications such as transformers , reactors, and chokes for noise filters. 

Heightening demand for nano crystalline soft magnetic materials in high-frequency transformers and reactors is set to spur market growth in the coming years.

Which is the Most Opportunistic Region for Nano-Crystalline Soft Magnetic Materials Landscape?

Asia Pacific excluding Japan (APEJ) is projected to remain a hotspot for key market players during the forecast period. East Asia accounted for bulk of the consumption of nano crystalline soft magnetic materials, accounting for over 1/4th of the global consumption in 2020. 

Massive industrialization in the Asia Pacific region along with the growing need for electricity transmission from generators is boosting the market.

China is the largest producer and exporter of consumer electronics, rendering it as the largest consumer of nano crystalline soft magnetic materials across the globe. The country has a vast power generation sector and is a leading producer of electric vehicles.

Moreover, ongoing strategic investments by the Chinese government to advance the electronics and automotive sector and support the electric vehicle industry will result in additional demand for nano crystalline soft magnetic materials.

According to the International Energy Agency (IEA), China possesses the largest fleet, with 4.5 million electric cars, recording over 1.2 million new registrations in 2020. Hence, owing to these trends, the market across APEJ appears highly promising.

nano crystalline soft magnetic material market 3 by FactMR

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Country-Wise Analysis

What is the Demand Outlook for Nano Crystalline Soft Magnetic Materials in the U.S.?

The outbreak of the COVID-19 pandemic had a negative impact on the demand for nano crystalline soft magnetic materials in the U.S. 

According to IEA, in 2020, 295,000 new electric cars were registered in the U.S., of which about 78% were BEVs, down from 327,000 in 2019.

In 2021, the market demand is projected to bolster. The U.S. government, in February 2021, announced measures to reduce the dependence on China for rare-earth (RE) magnets. The shortage has prompted the U.S government to subsidize and stimulate domestic RE mining, metal-making, and magnet manufacturing.

These steps taken to improve domestic manufacturing will enhance the regional presence and product offerings to expand the demand. 

What are the Growth Opportunities for Nano Crystalline Soft Magnetic Materials in Germany?

In the last quarter of 2020, countries like Germany and France announced increased support measures towards electric vehicles to support the European Union’s existing policies and regulations. 

According to a report published by the European Commission, the applications of nano crystalline soft magnetic materials in the electronic industry have surged owing to their attributes. 

Germany is projected to be the most lucrative region across Europe owing to the increased demand from the automotive sector for the production of electric vehicles. In 2020, Germany registered 395,000 new electric cars. 

Moreover, Germany’s federal government announced that it intends to register 7 to 10 million electric vehicles in the country by the end of this decade. 

Based on these factors, the market for nano crystalline soft magnetic materials is projected to be highly lucrative in Germany during the forecast period. 

Category-Wise Analysis

How is Increasing Demand for Transformers Driving Market Expansion?

Demand for industrial control transformers has remained significantly high in a wide range of end-use industries, as the need for stepped-down voltage is an important aspect for the seamless working of machine tool control devices in isolating control circuits.

Manufacturers in the industrial control transformers market are adopting strategies to ensure compliance with international as well as local standards to gain an edge in the market. 

As per Fact.MR’s projections, the global demand for electricity is projected to reach around 38,700 terawatt-hours by 2050, increasing the demand for nano crystalline soft magnetic materials. 

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How is the Semiconductor Industry Propelling Growth?

The semiconductor industry has been propelling growth in the global market for nano crystalline soft magnetic materials. In July 2021, the Semiconductor Industry Association (SIA) announced that global semiconductor industry sales were $43.6 billion in the month of May 2021, an increase of 26.2% from May 2020. 

The global semiconductor market is the backbone of every other technological industry and advancement. The semiconductor market serves almost every producer of consumer electronics and is projected to expand continuously. 

How Has COVID-19 Impacted Demand for Nano Crystalline Soft Magnetic Materials?

The COVID-19 outbreak has exposed businesses to several challenges across the world. Production facilities and supply chains have been affected. Key manufacturing industries have registered immense downsizing of their operations, owing to a majority of employees working from home.

Demand for electric vehicles and other electronics declined. Supply-side shocks are perhaps some of the most visible effects of the pandemic’s impact on the market.

Companies that are located in countries badly affected by the virus or those that are dependent on supply chains located in affected countries are the immediate victims of the pandemic.

Countries have effectively shut down their production units, putting a strain on equipment manufacturers. Major countries such as the U.S. are taking measures to reduce the dependence on China for various materials and the supply chain of product manufacturers has been affected.

2021 is projected to be better, with the market regaining its original traction by 2022.

Several key manufactures, such as Hitachi Construction Machinery Co., Ltd., have reported that the spread of the pandemic has affected the company’s production activities globally, owing to a prolonged tightening of restrictions by governments, including bans on international travel. 

The company’s operations in Japan and Indonesia have remained unaffected while its operations in India have ceased until further notice.

Policymakers worldwide have announced massive monetary and fiscal stimuli measures to mitigate the pandemic’s economic fallout to keep financially starved businesses stay afloat. These measures are anticipated to leverage the global nano crystalline soft magnetic materials market.

Competitive Landscape

Nano crystalline soft magnetic materials market is a highly consolidated market in which a small group of players accounts for near half of the global sales. 

To address the increasing demand for high-performance soft magnetic materials, players have launched a new range of products. Further, prominent players have focused their cash reserves to optimize the manufacturing process, maintaining their supremacy in the market during the forecast period.

For instance, in 2020, LG Innotek announced the launch of a highly efficient ferrite with the lowest power loss in the world. The high-efficiency ferrite developed by LG Innotek has a maximum of 40% less power loss from heat compared to general ferrite. 

In addition to this, Hitachi Metals Ltd. successfully commissioned its new FINEMET Ribbon production line at plant Metglas Yasugi Works.

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Nano Crystalline Soft Magnetic Materials Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Classification
  • End-User
  • Application
  • Region

Key Companies Profiled

  • Hitachi Metal
  • Advanced Technology
  • VACUUMSCHMELZE
  • Qingdao Yunlu
  • China Amorphous Technology
  • Henan Zhongyue
  • Foshan Huaxin
  • Londerful New Material
  • Orient Group
  • Bomatec
  • OJSC MSTATOR
Customization & Pricing

Available upon Request

Key Market Segments in Nano Crystalline Soft Magnetic Materials Industry Research

Fact.MR has segmented the market on the basis of classification, application, end-use industry, and region.

  • Classification

    • One Dimensional
    • Two Dimensional
    • Three Dimensional
  • Application

    • Transformers
    • Portable
    • Transmission
    • Distribution
    • Motors
    • 1hp-100hp
    • 101hp-200hp
    • 201hp-1000hp
    • Above 1000hp
    • Inductors
    • Generators
  • End Use Industry

    • Consumer Electronics & Applications
    • Healthcare
    • Automotive
    • Semiconductor
  • Region

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • Japan
    • Asia Pacific excluding Japan
    • Middle East & Africa

- FAQs -

As of 2020, sales of nano crystalline soft magnetic materials were valued at US$ 365 Mn

Sales of nano crystalline soft magnetic materials are projected to rise at a CAGR of 9.5% by 2031

Global market for nano crystalline soft magnetic materials expanded at close to 3% CAGR during 2016-2020

Increasing automotive electrification is majorly spurring sales of nano crystalline soft magnetic materials

Asia Pacific excluding Japan (APEJ) is likely to present significant growth opportunities in the long-run

China, U.S, Germany and France are likely to remain frontrunners of the global demand for nano crystalline soft magnetic materials

Sales in the U.S are rising amid increased emphasis on domestic rare earth magnets mining to be used across EVs

Hitachi Metals Ltd., VacuumSchmelze, Magnetec, and Bomatec are identified as the leading nano crystalline soft magnetic material producers.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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