What is Soft Magnetic Composites Market?
Soft magnetic composites (SMC) are ferromagnetic powder particles preferably coated with a uniform layer of an electrically insulating film. These materials are vary depending upon the final application and these are compacted just like any other powder metal part. The heated die compaction is often used to indorse higher density. The benefits of soft magnetic composite materials reside in the shape-making capability of the powder. Shapes normally created through powder metal are easily achieved with soft magnetic powders.
The market study is being classified, by Application (Motors, Transformer, Stator, Speaker, Electrical Coil and Actuators) and major geographies with country level break-up.
Sintex Plastics (India), Hoganas AB (Sweden), PMG Holding GmbH (Germany), Shenzhen City Ri Shengchang Magnet Technology Co. Ltd (China), Mitsubishi Metal Trading Corporation (Japan), SG Technologies (United Kingdom), Fluxtrol (United States), Schunk Sinter Metals (Germany), Mate Co., Ltd (Japan) and Daido Steel Co., Ltd. (Japan) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Steward Advanced Materials Inc (United States) and GKN Sinter Metals Engineering GmbH (Germany).
Leading key players of soft magnetic composites are focusing on strategic partnerships and acquisitions, and joint ventures to improve their products and services along with focusing on increasing their client base to strengthen market position. Research Analyst at AMA predicts that Japanese Vendors will contribute to the maximum growth of Global Soft Magnetic Composites market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Soft Magnetic Composites market by Type, Application and Region.
On the basis of geography, the market of Soft Magnetic Composites has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising Demand in Energy & Automotive Sector
- Growing Number of Nuclear Power Plants
Market Trend
- Increasing Demand for Electrical Appliances
Restraints
- Instability in Machine Prices
Opportunities
- Growing Automotive and Energy Sector
Challenges
- Concerns Regarding Low Mechanical Strength
Key Target Audience
Manufacturers of Soft Magnetic Composites, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Soft Magnetic Composites, Automotive Industry, Electrical & Electronics Industry, Governmental Bodies and Research Firms