Soft Ferrite Magnet Material Market was valued at USD 2.45 Billion in 2022 and is projected to reach USD 3.76 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
From 2018 to 2022, the global demand for soft ferrite magnets was driven by the growth in consumer electronics and electric vehicles (EVs). As more households and industries adopted digital technologies and electric mobility, the demand for efficient magnetic components surged. This period also saw a substantial rise in the use of ferrite magnets in renewable energy technologies, particularly in wind turbines, where their durability and resistance to corrosion are critical. In addition, automotive manufacturers incorporated these magnets into their electric motors and other critical systems, further boosting market demand.
Looking forward, the market outlook from 2023 to 2033 presents an even more dynamic shift. The increasing adoption of electric vehicles, coupled with ongoing advancements in the Internet of Things (IoT), is expected to continue driving demand for soft ferrite magnets. Additionally, industries like energy storage and medical devices are expected to see further integration of these materials in their technologies. The global push towards reducing carbon emissions and enhancing energy efficiency will continue to fuel the development of new, more efficient magnetic materials, which will likely lead to increased consumption of ferrite magnets.
The rise in automation and industrial IoT in manufacturing sectors is another key driver for the soft ferrite magnet material market. With the global supply chain evolving, the need for high-performance, durable, and cost-effective materials is greater than ever. As a result, the market is projected to see an uptick in demand for these magnets, especially for use in sensors, actuators, and other automated systems.
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The soft ferrite magnet material market has experienced notable growth from 2018 to 2022, with substantial shifts in demand across various industries. As industries like electronics, automotive, and renewable energy increasingly rely on these materials for their magnetic properties, the market has expanded significantly. Ferrite magnets, known for their cost-effectiveness and stability, are used in various applications, including motors, transformers, and speakers. Over this period, advancements in manufacturing processes and the development of new ferrite compounds helped meet the growing demand. This has led to a steady rise in production and consumption, especially in the Asia-Pacific region, which remains the largest consumer of ferrite magnets.
TDK
DMEGC
VACUUMSCHMELZE
Eclipse Magnetics
TDG
Acme Electronics
FERROXCUBE
Nanjing New Conda Magnetic Industrial
Haining Lianfeng Magnet
JPMF
ZHEJIANG NBTM KEDA MAGNETOELECTRICITY
H�gan�s
Samwha Electronics
Toshiba Materials
Proterial Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Soft Ferrite Magnet Material Market
Automotive
Electrical and Electronics
Power and Energy
Other
Based on Types the Market is categorized into Below types that held the largest Soft Ferrite Magnet Material market share In 2023.
Mn-Zn Ferrite
Ni-Zn Ferrite
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Soft Ferrite Magnet Material Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Soft Ferrite Magnet Material Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Soft Ferrite Magnet Material Market, By Type
6. Global Soft Ferrite Magnet Material Market, By Application
7. Global Soft Ferrite Magnet Material Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Soft Ferrite Magnet Material Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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