Rockville, Oct. 06, 2023 (GLOBE NEWSWIRE) -- As per this latest analysis by Fact.MR, a market research and competitive intelligence provider, the global Soft Ferrite Market is valued at US$ 2.12 billion in 2023 and is projected to reach US$ 3.8 billion by 2033.
Worldwide demand for soft ferrite is growing at a healthy pace due to its essential role in various electronic and electrical applications. Soft ferrites are materials with exceptional magnetic properties, including high magnetic permeability and low core losses. These properties make them indispensable in industries such as automotive, telecommunications, renewable energy, consumer electronics, and more.
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Key Segments of Soft Ferrite Industry Research Report
| By Product Type | By Application | By End-use Industry |
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The rollout of 5G networks worldwide is boosting the demand for soft ferrites in radio frequency (RF) components such as filters, antennas, and circulators, as 5G relies heavily on high-frequency communication. The rapid adoption of electric vehicles is also driving the demand for soft ferrite materials in electric vehicle (EV) components, including electric drivetrains, charging systems, and power electronics.
Global transition to renewable energy sources such as wind and solar power is creating opportunities for soft ferrite manufacturers in power electronics and renewable energy systems. The growing trend toward smaller, more compact electronic devices is also increasing the need for miniaturized soft ferrite components, such as inductors and transformers.
Key Takeaways from Market Study
- The global soft ferrite is forecasted to expand at 6% CAGR through 2033.
- Worldwide demand for soft ferrite is projected to increase at a CAGR of 6% from 2023 to 2033.
- The North American market for soft ferrite is driven by the wide adoption of electric vehicles (EVs), growing popularity of 5G technology, and renewable energy initiatives.
- Europe's strong automotive industry and increasing focus on renewable energy sources are contributing to the growth of the soft ferrite market, with Germany being a notable marketplace.
- Asia Pacific leads in soft ferrite production and consumption due to the presence of major electronics manufacturers, automotive production, and rapid technological advancements.
“Soft ferrites continue to be in high demand for EMI/RFI suppression as well as their use in radar systems and communication equipment in the aerospace and defense industries due to increasing security concerns,” says a Fact.MR analyst.
Competitive Landscape
Prominent enterprises are dedicating substantial resources to advance research and development in order to create distinctive soft ferrite materials with novel characteristics. They are also setting their products apart by providing heightened performance, increased energy efficiency, and customized solutions that address specific industry requirements.
- In May 2020, scientists at the International Advanced Research Centre for Powder Metallurgy & New Materials presented a pioneering approach for fabricating soft magnetic alloys using iron-phosphorus (Fe-P), specifically designed for application within the automotive sector.
Winning Strategy
Leading producers of soft ferrite include TDK Corporation, Hitachi Metals Ltd., Ferroxcube International Holding B.V., and DMEGC Magnetics Co., Ltd. Manufacturers are innovating and customizing soft ferrite materials to meet specific industry requirements, including higher operating frequencies and reduced losses. Leading companies are also engaged in global expansion and strategic collaborations to maintain their competitive edge and increase their profit shares.
- Hitachi Metals has been at the forefront of soft ferrite innovation in the automotive sector. The company has introduced several soft ferrite materials tailored for electric drivetrains and onboard chargers in electric vehicles.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 3.8 Billion |
| Growth Rate (2023-2033) | 6.0% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 109 Tables |
| No. of Figures | 103 Figures |
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Factors Contribute to the Rising Demand for Soft Ferrite in the United States
In the United States, there's a notable surge in the adoption of electric vehicles. Soft ferrite materials have become crucial in manufacturing various components for electric vehicles (EVs), including electric drivetrains, charging systems, and power electronics. The nation's increasing shift toward electric mobility is creating lucrative prospects for manufacturers of soft ferrite.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global soft ferrite market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on product type (Mn-Zn ferrite, Ni-Zn ferrite), application (transformers, motors, inductors, generators), and end-use industry (aerospace & defense, automotive, consumer electronics, power, telecommunications), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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