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Nanocrystalline Soft Magnetic Materials Market

Nanocrystalline Soft Magnetic Materials Market By Classification (One Dimensional, Two Dimensional & Three Dimensional) By Application (Transformers, Motors), By End-Use (Healthcare, Automotive) & By Region – Global Market Insights 2022-2032

Analysis of Nanocrystalline Soft Magnetic Materials market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Plethora of Applications to Gear-up the NCSMM Sales Growth

The global nanocrystalline soft magnetic materials market is estimated to value at US$ 6.6 billion in 2022 and further expand at a CAGR of 10.2% to reach US$ 17.5 billion by the end of 2032. Gearing up of automobile industry to open new growth opportunities for the market.

Report Attributes

Details

NCSMM Estimated Market Size (2022)

US$ 6.6 Billion

Forecasted Market Value (2032F)

US$ 17.5 Billion

Global Market Growth Rate (2022-2032)

10.2% CAGR

North America Market Share (2022)

~23.7%

Europe Market Share (2022)

~29.4%

Market Share of Top 3 Countries

~23.6%

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

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Consumption and Sales Pattern Analysis

NCSMM are advanced versions of soft magnetic materials laced with high permeability and high saturation flux density. Owing to its stable temperature characteristics, it provides outstanding performance in electromagnetic noise suppression applications.

Nanocrystalline soft magnetic materials are crystallized alloys with the main chemical composition of Fe and offer improved magnetic characteristics.

Attributed to its excellent characteristics over a wide frequency range it has become the material of choice in small-sized electrical components which will increase its consumption over widespread applications, including transforms, motors, generators, and inductors.

  • Early Growth Factors: The emerging trend of inductive charging and increasing demand for smartphones that can be charged inductively are set to result in additional demand for nanocrystalline soft magnetic materials as they offer outstanding shielding performance against external interference fields with high transmission.
  • Factors Determining Medium-Term Growth: Increasing consumption of nanocrystalline soft magnetic materials in electric vehicles for a range of applications like inverters, onboard chargers, batteries, DCDC converters, and motors will create lucrative avenues for market players. Further, the robust growth in electric and hybrid vehicles with increased adoption of nanocrystalline soft magnetic materials in the automotive industry is poised to propel the market growth.
  • Long-Term (2028-2032): R&D to create lucrative opportunities for the market. Further, in magnetic sensors, nano-crystalline soft magnetic materials have vast applications, such as for flat inductors, magneto-electronic components, and others. These sensors require thin nano-crystalline soft magnetic films which are layered in structure. The increasing demand for magnetic sensors for security and automotive application influences the supply-demand ratio for the nanocrystalline soft magnetic materials market.

According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 10.2% CAGR between 2022 and 2032.

Global NCSMM market forecast by Fact.MR

Market share analysis of NCSMM based on application and region is provided in a nutshell in the above image. Under the application segment, the motor sub-segment dominates the market in 2022.

“Potential Applications in Power Electronics Design Promises Lucrative Opportunities”

With the value for cost-efficiency gaining higher emphasis among electronic systems manufacturers and end-users alike, designing inductive components using nanocrystalline soft magnetic materials has become the new normal.

Substantially smaller build-up volume, bigger safety margins, more stable operation, lightweight, and extended temperature range (-25 °C to 120°C (standard) or 180°C (special)) associated with nanocrystalline soft magnetic materials are factors that have led to its adoption in power electronics applications.

The current trend of increased power density, compact size, and higher frequencies in power electronics will further propel the consumption of nanocrystalline soft magnetic materials in the foreseeable future.

“Flexibility to be Shaped in Complicated Geometries to Increase Preference for NCSMM”

The high flexibility offered by nanocrystalline soft magnetic materials and the efficacy to achieve complicated geometries provides it a significant advantage over other conventional soft magnetic materials.

Two-dimensional (2D) characteristics and features of steel laminations confine molding of shapes and modifying component designs of electronic circuits.

In contrast, exceptional properties and three-dimensional (3D) structures of nanocrystalline soft magnetic materials have enabled a wide range of possibilities.

Built-in features, smooth modular structures, and 3D flux paths in new spatial arrangements in electronic circuits are key design areas where immense opportunities lie for players offering nanocrystalline soft magnetic materials in the coming years.

“Growing Demand for Ultra-Wide & Ultra-Thin Products Rises Production Complexity”

Amorphous soft magnetic material is a precursor of nanocrystalline soft magnetic material which is prepared by spraying the melted alloy on the water-cooled rotating copper roller to form a thin strip.

The highly complex manufacturing process demand high temperature ranging up to 1500oC. Further, to achieve instant solidification it requires a very high cooling rate, ranging up to the level of one million degrees per second with a speed of strip ejection up to 100 km/hr.

The thickness of ejected amorphous strip should be between 20-20 μm which requires high precision control and automation. In addition to these difficulties, the nanocrystalline product has to pass through heat treatment in which annealing temperature, annealing time, and cooling rate requires high precision.

Furthermore, different raw material ratios and different applications, and various downstream products need customized crystallization annealing process parameters.

After final production, the product has to go through the certification process and a number of tests like the high and low-temperature test, salt spray test, etc, the entire certification cycle accounts for over six months.

Moreover, continuous downsizing and compact designs coupled with the trend of miniaturization have pushed players to invest millions of dollars to align with emerging trends.

Above mentioned facts and scenarios are set to hamper the profit margins and revenues of the market players during the forecast period. Other than these facts, soaring prices of rare earth metals due to ongoing trade war tensions between China and the US will create an additional challenge for market players.

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Country-wise Insights

Why India has Prominent Growth Opportunities for the Industry?

The growing electric vehicle market across the country is anticipated to create lucrative opportunities for the market.

  • For instance, in India, the market for electric vehicles (EVs) is anticipated to grow to US$ 7.1 billion by 2025. As per the data of the Centre for Energy Finance, India may witness a US$ 206.0 billion electric vehicle market by 2030. This needs an investment of US$ 180.0 billion in infrastructure for vehicle manufacturing.
  • Additionally, as of July 2022, oil companies operating under the Ministry of Petroleum and Natural Gas (MoPNG), have established 532 EV charging stations till now under the scheme FAME India I & II.

The booming EV market propels the sales of the NCSMM as to produce small and lighter power supply electrical circuits for electrical vehicles, nanocrystalline soft magnetic materials have emerged as a choice of material and robust growth in the global electric vehicles market is set to amplify the demand for nanocrystalline soft magnetic materials during the forecast period.

Why is the China Market is anticipated to Be Greatly Productive?

Increasing adoption of next-generation semiconductors like SiC (silicon carbide) and GaN (gallium nitride):

  • For instance, about 3.8% of the world's semiconductor sales, or US$ 13.0 billion, were made in China only.
  • Further, according to the Semiconductor Industry Association (SIA) analysis, the Chinese semiconductor industry encountered an outstanding annual growth rate of 30.6% in 2020, growing to US$ 39.8 billion in absolute yearly sales.
  • By 2020, China had overtaken Taiwan for two years in a row, and IS closely following Japan and the EU, which each had 10% of the total market share. China projects a jump of 9.0% in the global semiconductor market in 2020.
  • The supply chain for semiconductor manufacturing in China continues to expand rapidly, with 28 new fab construction projects totaling US$ 26 billion in new planned funding announced in 2021.

Hence, the high adoption of semiconductors in high-frequency and power-switching applications has necessitated the demand for compound semiconductors with larger capacities and higher switching frequencies. The impressive high switching frequency offered by nanocrystalline soft magnetic materials is set to catalyze its demand.

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Competitive landscape highlights only certain players
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Category-wise Insights

How is Motor Sub-Segment Gaining Traction in the Global Market?

Since their discovery thirty years ago, nanocrystalline soft magnetic materials have been made commercially available for use in devices like high-frequency transformers, power filters, and current sensing. More recently, it has been shown that electric motors made with nanocrystalline stator cores are more efficient than those made with amorphous or Fe-Si steel stator cores. The adoption of NCSMM-based motors in different domains, such as electric vehicles will bolster the growing demand for the segment.

Why Consumer Electronics Require NCSMM and Project its High Demand?

The perm alloy, amorphous and Nanocrystalline metals have extensive use in the manufacture of toroidal cores for electronic applications. In the electrical and electronics industries, Nano-Crystalline Soft magnetic material is considered to be essential in many electrical devices.

The growing demand for high-quality electrical components to achieve optimum solutions has influenced the consumption of nano-crystalline soft magnetic material. Further, the growing demand for consumer electronics is estimated to prop up the market's growth.

  • For instance, in 2022, the consumer electronics market is estimated to generate US$ 1.1 billion in revenue. The market is anticipated to expand by 2.51% yearly. China is expected to generate the majority of revenue i.e., US$ 251.4 billion in 2022.

Manufacturers and their key Stratagem

Market’s Prominent Manufacturers include Advanced Technology, Hitachi Metal, Qingdao Yunlu, VACUUMSCHMELZE, China Amorphous Technology, Henan Zhongyue, Foshan Huaxin, Londerful New Material, Orient Group, and Bomatec, among others.

Attractive magnetic properties and unique microstructure of nanocrystalline soft magnetic materials have propelled their research interest in the recent past.

Research efforts for these materials are currently being directed toward the benefits of the combination of different desirable attributes, which in turn has resulted in the development of iron-based bulk nano-structured soft magnetic alloys and WC-Co nano-composites. Thus, R&D enables market players to explore the new application of the market and gain high-profit margins.

  • The launch of a highly effective ferrite with the lowest power loss was announced by LG Innotek in 2020. In comparison to regular ferrite, LG Innotek's high-efficiency ferrite has a maximum of 40% lower power loss from heat.

Fact.MR has provided detailed information about the price points of key manufacturers of nanocrystalline soft magnetic materials positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of NCSMM Industry Research

  • By Classification :

    • One Dimensional
    • Two Dimensional
    • Three Dimensional
  • By Application :

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

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

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

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- FAQs -

For the global market, the estimated growth rate is 10.2% from 2022-2032.

The study period of the market is 2017-2032.

Classification, application, and end-use industry are the preferred segments of the market.

Hitachi Metal, Advanced Technology, China Amorphous Technology, and Londerful New Material, are leading players in the global market.

For the given market, APAC is the dominating region in the global market.

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