06-Feb-2020 | Facts and Factors
Facts and Factors have authored “Nanocrystalline Soft Magnetic Material Market By Application (Distribution Transformer, Electric Machinery, Electronic Components, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026”. Based on our analysis, the global nanocrystalline soft magnetic material market in 2019 is approximately USD 230 million and is anticipated to reach around USD 470 million by 2026. The anticipated CAGR for the nanocrystalline soft magnetic material market is around 10% from 2020 to 2026.
Over the last few decades, magnetic materials have become an essential part of everyday life. Magnetic materials play an important role in diverse application areas such as telecommunication, automotive, medical, data storage, military, aerospace, and electric energy industry, including transmission, generation, and distribution. Recently, it has been studied that nanocrystalline materials can be used in magnetic devices such as inductive devices, transformers, etc. which require magnetically soft materials. Nanocrystalline alloy is a material made up of Fe, Si, and B with additions of Cu and Nb. Generally, the nanocrystalline soft magnetic material is manufactured by a process termed as rapid solidification technology in the form of a thin ribbon, primarily in the amorphous state and is then crystallized at the temperature of 500 - 600 °C.
Browse the full “Nanocrystalline Soft Magnetic Material Market By Application (Distribution Transformer, Electric Machinery, Electronic Components, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2026” report at https://www.fnfresearch.com/nanocrystalline-soft-magnetic-material-market
With the rising number of electronic devices in everyday lives, nanocrystalline soft magnetic materials are finding its application in various devices. Moreover, with increased emphasis on energy conservation, these materials are considered in the design of larger transformers. There, the growing demand for electronic devices and goods is further expected to boost the consumption of nanocrystalline soft magnetic materials, thereby, propelling market growth. Moreover, the increasing concern towards energy efficiency across the globe is likely to enhance the application of magnetic materials in various electronic products. However, the high fluctuation in the cost of raw materials such as iron, copper, silicon, and others, may highly impact on the prices of the nanocrystalline soft magnetic material. Nevertheless, the rising demand for high quality nanocrystalline soft magnetic materials with rapid advances in technologies such as smart manufacturing, 5G communicative systems, new power vehicles, and 3D printing is projected to offer growth opportunities to the market in the future.
Based on application, the distribution transformer category accounted for the largest market share of around 35% of the global nanocrystalline soft magnetic material market, in 2019. These materials tackle the energy loss in transformers and enable the downsizing of the system. Moreover, due to the versatile properties of nanocrystalline soft magnetic materials such as high magnetic permeability and robust flux density, it is widely used as transformer cores in the power transmission industry.
Regionally, the Asia Pacific dominated the global nanocrystalline soft magnetic material market and accounted for the market share of around 40% in 2019. Rapid industrialization in countries of the Asia-Pacific and the presence of iron mines in China & India are the major factors boosting the demand for nanocrystalline soft magnetic materials within the region. Moreover, China is expected to be the dominating country and India is anticipated to grow at the fastest pace during the forecast period of 2020 – 2026.
Some of the key players operating the global nanocrystalline soft magnetic material market are China Amorphous Technology, Qingdao Yunlu, Advanced Technology, Hitachi Metal, Henan Zhongyue, Londerful New Material, Zhaojing Incorporated, Junhua Technology, Orient Group, Shenke, and Foshan Huaxin among Others.
This report segments the Nanocrystalline Soft Magnetic Material market as follows:
Global Nanocrystalline Soft Magnetic Material Market: By Application Segment Analysis
Global Nanocrystalline Soft Magnetic Material Market: Regional Segment Analysis
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