The global nanocrystalline soft magnetic materials market is anticipated to reach US$ 6.6 billion in 2022 and grow at a CAGR of 10.2% from 2022 to 2032, according to Fact.MR, a supplier of market research and competitive information.
Unwanted high-frequency electromagnetic interference (EMI) noise arises in electric vehicles, such as plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV), which strains the computer-controlled self-driving system’s operations.
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- Hitachi Metal
- Advanced Technology
- Qingdao Yunlu
- China Amorphous Technology
- Henan Zhongyue
- Foshan Huaxin
- Londerful New Material
- Orient Group
- OJSC MSTATOR
Key Statistics Supporting the Surge
- The global NCSMM market is valued at US$ 6.6 billion in 2022
- The global valuation for NCSMM is anticipated to reach US$ 17.5 billion by 2032-end
- APAC tops the global NCSMM market accounting for a major market share
- Motors application accounts for the highest share of global sales
- North America has a market share of 23.7% in 2022, and it is estimated to value at US$ 1.5 billion in 2022
“Attractive magnetic properties and unique microstructure of nanocrystalline soft magnetic materials have propelled the market’s growth,” says a Fact.MR analyst.
Strategies Driving Market’s Growth
Market goliaths within the nanocrystalline soft magnetic material market have been aligning themselves with new emerging trends in photovoltaic applications, inductive charging, and electric vehicle. Further, players have well maintained their targeted strategic approach through production capacity expansions and numerous product developments.
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.
- Growing Demand in Electric Vehicles (EVs) and Renewable Energy: As the world shifts towards cleaner energy sources and sustainable transportation solutions, the demand for efficient power conversion and energy storage systems is on the rise.
- Miniaturization and High-Frequency Applications: The trend towards smaller and more powerful electronic devices, such as smartphones, wearables, and IoT devices, is driving the need for magnetic materials that can operate at high frequencies without significant energy loss.
- Efficiency Improvements in Power Electronics: The efficiency of power electronics systems is crucial for energy conservation and waste reduction. Nanocrystalline soft magnetic materials enable the design of compact, lightweight, and energy-efficient transformers, inductors, and other power components used in industrial equipment, consumer electronics, and electric grids.
- Advancements in Manufacturing Techniques: Innovations in manufacturing processes, such as rapid solidification techniques and advanced heat treatments, have enabled the production of nanocrystalline soft magnetic materials with enhanced properties.
- Emergence of Green Energy Solutions: Nanocrystalline soft magnetic materials align with the global focus on sustainable technologies. Their use in energy-efficient transformers, solar inverters, and wind turbine generators contributes to the development of green energy solutions that reduce environmental impact.
- Integration with IoT and Smart Technology: The proliferation of Internet of Things (IoT) devices and smart technologies demands compact, energy-efficient components. Nanocrystalline soft magnetic materials enable the creation of smaller and more efficient sensors, actuators, and communication devices that are essential for the IoT ecosystem.
- Research and Development in Material Properties: Ongoing research is focused on fine-tuning the properties of nanocrystalline soft magnetic materials. Efforts are directed towards achieving higher saturation induction, lower coercivity, and improved thermal stability, further enhancing their suitability for various applications.
- Collaboration and Partnerships: Companies and research institutions are increasingly collaborating to advance the development and commercialization of nanocrystalline soft magnetic materials.
Industry Research Report
- By Classification :
- One Dimensional
- Two Dimensional
- Three Dimensional
- By Application :
- Above 1000hp
- By End-Use Industry :
- Consumer Electronics & Applications
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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