KD Market Insights has recently announced new market demand assessment research titled “Soft Magnetic Composites (SMC) Market – Demand, Opportunity, Growth, Future Prospects and Competitive Analysis, 2024 – 2033”. The global soft magnetic composites (SMC) market study provides a granular data and in-depth analysis on the current and future market situations that are crucial for the existing new players in the market. Soft Magnetic Composites (SMC) industry research is based on key factors like demand supply analysis, commercial activities, research investments, pricing analysis, government initiatives guidelines, driving forces in the market, roadblocks and segmentation based on the product viability.
The soft magnetic composites (SMC) market size is projected to generate a market revenue of USD 105.3 billion by 2033, predicts the experts at KD Market Insights analysis. In this recent market research report growth analysis, the market generated a market size of USD 40.4 Billion in 2023, and by the end of 2024, the soft magnetic composites (SMC) market revenue is anticipated to foresee a substantial growth. The market is also poised to grow with a CAGR of 10% during the forecast period, i.e., 2024-2033.
Key Takeaways of Soft Magnetic Composites (SMC) Market Research Report
- The soft magnetic composites (SMC) market share is expected to witness growth on account of rising demand for electric vehicles, Rapid demand for renewable energy, and Growing advancements in manufacturing technologies.
- However, the High cost of producing SMCs, and Concern for limited temperature stability, are some of the major concerns affecting the growing soft magnetic composites (SMC) market trend.
- The Asia Pacific soft magnetic composites (SMC) market share is poised to occupy the largest share among all the regions during 2024-2033.
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List of Key Players in Soft Magnetic Composites (SMC) Market:
- Hitachi Metals Ltd
- PMG Holding GmbH
- Höganäs AB
- GKN plc., Höganäs AB
- Sumitomo Metal Mining Co., Ltd.
- VACUUMSCHMELZE GmbH Co. KG,
- Rio Tinto PLC
- Toshiba Corp (Toshiba Materials Co.,)
- Hengdian Group DMEGC Magnetics Co., Ltd.
- Mitsubishi Materials Corporation
- Ames Group Sintering SA
- Steward Advanced Materials LLC
- TOKUSHU KINZOKU EXCEL CO., LTD.
- Fluxtrol Inc.
- AIC Engineering Ltd.
- ThyssenKrupp Electrical Steel India Private Limited
- Dexter Magnetics
- Ningbo Longjian Magnetic Industry Co., Ltd.
- Munster Floor Screed
Browse the Full Report on Soft Magnetic Composites (SMC) Market here: https://www.kdmarketinsights.com/reports/soft-magnetic-composites-smc-market/3057
Soft Magnetic Composites (SMC) Market Segmentation by Material:
- Soft Magnetic Composites
- Soft Ferrite
- Fe Amorphous
- Nano Crystalline
Soft Magnetic Composites (SMC) Market Segmentation by Product:
- Pure Iron / Iron
- Ply Yarn
- Supermalloy
- Permalloy
Soft Magnetic Composites (SMC) Market Segmentation by Application:
- Transformers
- Motors
- 1 HP - 100 HP
- 101 HP - 200 HP
- 201 HP - 500 HP
- 501 HP - 1000 HP
- Above 1000 HP
- Inductors
- Generators
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Soft Magnetic Composites (SMC) Market Segmentation by Region:
Based on region, the soft magnetic composites (SMC) market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Out of these, the Asia Pacific region is projected to hold the largest market share by the end of 2033. These regions are further sub-segmented as:
- North America - U.S., and Canada
- Europe - U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe
- Asia-Pacific – Japan, China, India, Indonesia, Malaysia, Australia, and Rest of Asia-Pacific
- Latin America – Mexico, Argentina, and Rest of Latin America
- Middle East and Africa
Top Five Key Players in Asia Pacific Soft Magnetic Composites (SMC) Market:
- Hitachi Metals, Ltd.
- JFE Steel Corporation
- Daido Steel Co., Ltd.
- Nippon Steel Corporation
- POSCO
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