The global soft magnetic powder market at a CAGR of almost 10% during the forecast period

NEW YORK, Sept. 23, 2019 /PRNewswire/ -- Global Soft Magnetic Powder Market: About this market
This soft magnetic powder market analysis considers sales from electrical steel, cold-rolled lamination steel, soft ferrites, amorphous steel, and other products. Our analysis report also considers considers the sales of soft magnetic powder in APAC, Europe, North America, South America, and MEA. In 2018, the electrical steel segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the significant growth ofubstantial growth in the power transformer market will play a significant vital role in the electrical steel segment to maintain its market position. Also, our global soft magnetic powder market report looks at factors such as increasing adoption of electric motors in automotive applications, the surge in transformers installations, and growth in data center infrastructure. However, volatility in raw material prices, high failure rate of electronic components, cyclical nature of the electronics industry may hamper the growth of the soft magnetic powder industry over the forecast period.

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Global Soft Magnetic Powder Market: Overview
Increasing adoption of electric motors in automotive applications
Emissions from fossil fuel-based vehicles account for a significant share of global air pollution. The adoption of electric vehicles (EVs) offers an effective solution to resolve this issue as EVs use electric motors and electricity instead of an engine and fossil fuels, respectively. This has led to an increase in the adoption of electric motors in automotive applications. The recent transition to green technologies in the automotive industry is prompting OEMs to improve electric motors. The growth of the hybrid vehicle and the cost of hybrid passenger cars are crucial factors for the automotive motors market. The reduction in the prices of hybrid passenger cars, technological improvements in hybrid and electric cars, along with government initiatives, are likely to increase the adoption of automotive motors, and thereby. boost the demand for soft magnetic powder. This will lead to the expansion of the global soft magnetic powder market at a CAGR of almost 10% during the forecast period.
The growing use of silicon steel in electrical and electronics industry
Silicon steel is used to produce most motor laminations. The addition of silicon to the steel increases the electrical resistance of the motor lamination and improves the ability of magnetic fields to penetrate it and consequently reduces the hysteresis loss in the steel. The addition of silicon to steel also makes the steel more efficient and faster in terms of building and maintaining magnetic fields and, at the same time, reduces corrosion. Silicon steel is used in several electrical applications, such as electrical stators/rotors and motors, coils, magnetic coils, and transformers where the electromagnetic field plays an important role. This motor laminate material is extensively used in motion control products where the additional costs are justified by the enhancements in performance. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global soft magnetic powder market is fragmented. This robust vendor analysis is designed to help clients improve their market position. , and in In line with this, this report provides a detailed analysis of several leading soft magnetic powder manufacturers, that include Arnold Magnetic Technologies, DEXTER MAGNETIC TECHNOLOGIES, FJ Industries AS, Hitachi Metals Ltd., Höganäs AB, SG Technologies Ltd., Sintex AS, Steward Advanced Materials LLC., Sumitomo Metal Mining Co. Ltd., and VACUUMSCHMELZE GmbH & Co. KG.
Also, the soft magnetic powder market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

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