Advancements In High Frequency Power Electronics Sector Amplifies Sales of Nanocrystalline Soft Magnetic Materials Industry With A CAGR of 9.5%: Fact.MR Latest Survey
SEOUL--(Korea Newswire) March 17, 2022 -- According to the latest analysis of Fact.MR, the global nano crystalline soft magnetic materials market is to ascend at around 9.5% CAGR during the forecast period of 2021 to 2031.
There has been a rise in the use of nano crystalline soft magnetic materials in a diverse range of applications of electric vehicles, such as converters, batteries, board chargers, and motors, to name a few.
While excellent high switching frequency and low core loss properties of nano crystalline soft magnetic materials are attracting potential end-use industries, continuous efforts by manufacturers to develop more efficient products are also aiding market expansion.
How Is Global Market Demand being Fuelled by Automotive Electrification?
Electric vehicles have sparked a surge in demand for small, light-weight power supply circuits. Noise is generated at high frequencies by continuous downsizing and space-saving designs, which can't be suppressed by standard soft magnetic materials.
As a result, one of the most recent and actively expanding fields where nano-crystalline soft magnetic materials may see widespread use is electromobility.
According to research undertaken by the International Energy Agency, battery-powered electric vehicles accounted for 54 percent of electric car registrations in European countries in 2020, continuing to outnumber plug-in hybrid electric vehicles (PHEVs).
The use of nano crystalline soft magnetic materials in electric vehicles and other applications such as inverters, onboard chargers, batteries, DCDC converters, and motors is on the rise.
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.
- One Dimensional
- Two Dimensional
- Three Dimensional
- Above 1000hp
Key Takeaways from Market Study
· Global demand for one-dimensional nano crystalline soft magnetic materials to propel growth through 2031.
· Applications likely to abound across portable transformers by 2031.
· Automotive Sector is poised to register a CAGR of ~10% over the next 10 years.
· East Asia remains the highest consumer in APEJ, with the epicenter in China.
· The United States remains the leading consumer of nano crystalline soft magnetic materials in North America.
· Germany to remain the dominating country in Europe
“As the surge in demand for compact-sized power supply circuits with reduced weight is being witnessed, owing to the high requirement from consumer electronics & applications and semiconductor industry, manufacturers of nanocrystalline soft magnetic materials are projected to get benefited over the coming years,” says a Fact.MR analyst.
Companies leverage strategic collaborative initiatives to increase their market share and profitability. They are also acquiring start-ups working on technologies to strengthen their product capabilities.
· 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.
· Hitachi Metals Ltd. successfully commissioned its new FINEMET Ribbon production line at plant Metglas Yasugi Works.
· Advanced Technology
· Qingdao Yunlu
· China Amorphous Technology
Key Questions in Nanocrystalline Soft Magnetic Materials Market Research Report:
1. What are the current scenarios and key trends in the Nanocrystalline Soft Magnetic Materials Industry?
2. What key strategies are companies adopting to grow their consumer base?
3. What are the key categories and future potential of Nanocrystalline Soft Magnetic Materials?
4. What are the key Nanocrystalline Soft Magnetic Materials market drivers and what are their projected impacts in the short, medium, and long term?
5. What is the size of the Nanocrystalline Soft Magnetic Materials market and what are the opportunities for the key players?
Nanocrystalline Soft Magnetic Materials Market Report: https://www.factmr.com/report/771/nano-crystalline
For more insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep
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This is a news release distributed by Korea Newswire on behalf of this company.