- Mn-Zn Ferrite in Soft Ferrite Market to Gain Over 400 BPS
- In its latest report, Fact.MR offers a broad strategic framework of the global soft ferrite market. It sheds light on numerous aspects of the market, such as drivers, restraints, opportunities, industry developments, and many more. It also presents detailed information across leading segments in terms of product type, application, and regions.
NEW YORK, Dec. 10, 2021 /PRNewswire/ -- The global soft ferrite market is projected to exhibit growth at 6% CAGR during the forecast period between 2020 to 2030, predicts Fact.MR. Increasing demand for transformers and generators to enhance electricity generation is anticipated to drive the global soft ferrite market in the near future.
Soft ferrite is a ceramic material formed by reacting metal oxides into a magnetic material. It can be both easily demagnetized and magnetized. It can also transfer or store magnetic energy in alternating wave forms.
Soft ferrites are extensively used in the electronics industry owing to their lower coerciveness. These are considered to be good conductors of magnetic fields. Rapid expansion of the consumer electronics industry is anticipated to bolster the soft ferrite market during the forecast period.
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For instance, according to the India Brand Equity Foundation (IBEF), in the third quarter of FY21, the sales of consumer electronics surged by 23.5% in India. The organization further stated that the sales of smartphones, refrigerators, and televisions rose by 15% in October 2021.
"Research & development activities by key players to explore new applications of soft ferrites is expected to propel the market in the near future. Apart from that, increasing number of power industry projects is also set to drive growth," says a Fact.MR analyst.
Key Takeaways:
- Based on product type, the Mn-Zn ferrite segment is expected to dominate this market owing to its extensive usage by transformer and motor manufacturers.
- Ni-Zn ferrite segment is anticipated to hold around 1/3rd of the global market share.
- By application, the motors segment is expected to lead the market owing to the usage of soft ferrites in 201 HP-500 HP and 1 HP-100 HP motors.
- Based on region, Asia Pacific excluding Japan is likely to generate 1/3rd of the market demand with growing demand for soft ferrite across India and China.
- Japan is expected to showcase promising growth in the upcoming years owing to the increasing adoption of motors and transformers in the country.
Growth Drivers:
- Higher permeability and saturation levels of Mn-Zn ferrite are anticipated to bolster its demand from motor manufacturers, thereby propelling the sales.
- Increasing usage of soft ferrite in high-frequency transformers because of its energy-saving property is set to drive the growth in this market.
Restraints:
- Presence of excessive silica in Mn-Zn ferrite materials may negatively affect its magnetic properties and limit the growth in this market.
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Competitive Landscape
Key players in the soft ferrite market are adopting various strategies, such as partnerships, joint ventures, and acquisitions to strengthen their positions. Meanwhile, a few other players in the market are focusing on enhancing their distribution network and launching novel products.
For instance,
- January 2021: Japan-based electronics manufacturer Kyocera Corporation completed the acquisition of Soraa Laser Diode, Inc. The newly formed company will be called KYOCERA SLD Laser, Inc. It will provide novel products to a wide range of industries, such as automotive, healthcare, entertainment, and many others.
- January 2020: TDK Corporation, a leading manufacturer of electronic components and electronic materials based in Japan, declared that TDK Ventures Inc., its subsidiary would broaden its company portfolio. The company has made an investment of around US$ 50 million in Soraa Laser Diode, Inc. The latter is a provider of GaN materials headquartered in California. It aims to commercialize the next generation of visible laser light sources.
- November 2018: Ferroxcube International Holding B.V., which is a prominent manufacturer of ferrites headquartered in the Netherlands, signed an agreement to join hands with Frenetic. The latter is a Madrid-based fabless magnetic design firm that uses AI algorithms and real world measurements. This partnership is set to help Ferroxcube in integrating authentic data about real and theoretical measurements of its materials in Frenetic's platform.
Key Players in the Soft Ferrite Market Include:
- Voestalpine Stahl GmbH
- Hitachi Metals Ltd
- Toshiba Corp (Toshiba Materials Co., Ltd.)
- Rio Tinto PLC
- VACUUMSCHMELZE GmbH & Co. KG
- Hoganas AB
- Hengdian Group
- PMG Holding GmbH
- DMEGC Magnetics Co., Ltd.
More Valuable Insights on Soft Ferrite Market
Fact.MR provides an unbiased analysis of the soft ferrite market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global soft ferrite market with a detailed segmentation on the basis of:
Product type
- Mn-Zn Ferrite
- Ni-Zn Ferrite
Application
- Transformers
- Motors
- Inductors
- Generators
Region
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- Middle East & Africa
Key Questions Covered in Soft Ferrite Market Report
- The report offers insight into the soft ferrite market demand outlook for 2020-2030.
- The market study also highlights projected sales growth for soft ferrite market between 2020 and 2030.
- Soft ferrite market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
- Soft ferrite market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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