Research Nester published a report titled “Soft Ferrite Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global soft ferrite market in terms of market segmentation by product, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The soft ferrite market is estimated to occupy a large revenue by growing at a CAGR of ~4% during the forecast period, i.e., 2022 – 2030, owing to the rising use of soft ferrite to produce automobile electronics, increasing investments in the power distribution sector, and high usage of soft ferrite for making high-frequency transformers. Along with these, growing production of electric vehicles is also expected to drive market growth.
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The global soft ferrite market is segmented by product, end user and application. Based on product, the Mn-Zn ferrite segment is anticipated to grab the largest market share during the forecast period on the back of large-scale usage of this type of soft ferrite in the electrical industry. Additionally, by application, the motors segment is projected to grab the largest share in the future accounting to the surging usage of motors in several end user industries including medical equipment, electric vehicles and consumer electronics.
Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific region is evaluated to grab the largest share in the market during the forecast period ascribing to the increasing demand for electricity and growing population in the region. Moreover, the market in North America is assessed to grow by the highest rate in the coming years owing to the rising production of electrical components in the region.
Increasing Usage of Soft Ferrite to Make Automobile Electronics to Drive Market Growth
Prominent market players all around the world are investing heavily to develop innovative soft ferrite core materials for automobiles as it is capable of offering exceptional low-loss properties which can be used in a wide range of temperature environments. This is considered to be a crucial factor predicted to drive market growth in the forthcoming years.
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However, fluctuating costs of raw materials are expected to operate as key restraints to the growth of the global soft ferrite market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global soft ferrite market which includes company profiling of Hitachi Metals, Ltd., TDK Corporation, Amidon Inc., Ferroxcube International Holding B.V., Mianyang Kaiyuan Magnetism Material Co., Ltd., Laird Technologies, Inc., Hengdian Group, DMEGC Magnetics Co., Ltd., Rio Tinto PLC, PMG Holding GmbH, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global soft ferrite market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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