Report Study | Impact of COVID-19 on the Global Soft Magnetic Composites (SMCs) Market

The global soft magnetic composites (SMCs) market has witnessed rapid growth at a CAGR of 6.4% over the past half-decade. However, due to the ongoing outbreak of COVID-19, the electrical industry has put the brakes on production, cascading the effect to the soft magnetic composites market across the globe in Q1 and Q2 of FY2020. Resumption of production to some extent across Europe, Japan, and APEJ has slightly increased the demand for soft magnetic composites.

Request for Brochure here :

Soft Magnetic Composites Market Product Insights

Soft magnetic composites containing silicon ferrite are gaining prominence across regions, owing to extensive utilization and rising demand. Positive network externalities is a key factor contributing to the rapid growth of silicon ferrite. Key consumers of soft magnetic composites such as Toshiba Corporation, Schneider Electric SA, and others have utilized silicon ferrite in significant amounts. Silicon ferrite accounts for more than half of the soft magnetic composites demand pie.

The second-most utilized type of soft magnetic composites is permalloys, due to their widespread application for manufacturing compact and high performance magnetic composites. Permalloys account for less than a quarter of the global soft magnetic composites market. Owing to the aforementioned market inclination of respective product types, silicon ferrite soft magnetic composites are assessed to progress at a high single digit CAGR over the forecast period of FY2020 – FY2030.

Soft Magnetic Composites Market Insights by Application

SMCs are extensively utilized in producing compact, high performance, and cost-efficient electromagnetic composites. These composites are majorly utilized in manufacturing automotive components such as traction motors, air conditioning compressors, pumps, on-vehicle chargers, and other bundle of components. Growth of SMCs could be attributed to a rise in the demand for solar panels, which has created a domino effect, positively effecting the growth of the SMCs market space stance.

In 2020, the market has declined near 1% in the first and second quarter, owing to the COVID-19 pandemic. On the outlook of normative electrical component economics, the SMCs market is set to revive by the end of 2020.

Request Customized Report as Per Your Requirements :

Soft Magnetic Composites Market: Segmentation

Fact.MR has studied the soft magnetic composites market with detailed segmentation on the basis of by product, application, and region.

Product Application Region
Pure Iron/ Iron Powder Transformers North America
Silicon Ferrite Motors Latin America
Supermalloys Inductors Europe
Permalloys Generators Japan
    Asia Pacific Excluding Japan
    Middle East & Africa

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

SMCs Market: Analysis on Market Size Evaluation

The soft magnetic composites market has been analyzed for each market segment, in terms of volume (Tons) and value (US$ Mn).

Read More Trending and Similar Reports from Fact.MR :

About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analysed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Visit Our Website:

Back to top button