Europe Nanocrystalline Soft Magnetic Materials Market
Europe Nanocrystalline Soft Magnetic Materials Market Analysis By Classification (One Dimensional, Two Dimensional & Three Dimensional Nanocrystalline Soft Magnetic Materials) By Application, By End-Use Industry and By Country – Europe Market Insights 2022 to 2032
Analysis of Europe Nanocrystalline Soft Magnetic Materials market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Europe Nanocrystalline Soft Magnetic Materials Market Snapshot (2022-2032)
The Europe nanocrystalline soft magnetic materials market is expected to grow at a value of 15.13% by garnering a market revenue of US$ 450 Million from US$ 110 Million 2032. The nanocrystalline soft magnetic materials market is estimated to create an absolute dollar opportunity worth US$ 340 Million during the forecast years of 2022-2032.
Report Attributes |
Details |
---|---|
Europe Nanocrystalline Soft Magnetic Materials Market Size (2021A) |
US$ 105.15 Million |
Estimated Market Value (2022E) |
US$ 110 Million |
Forecasted Market Value (2032F) |
US$ 450 Million |
Europe Market Growth Rate (2022-2032) |
15.13% CAGR |
Key Companies Profiled |
|
Increasing need for power electronics with the ability to offer high performance at high frequencies will amplify the demand and drive market for nanocrystalline soft magnetic materials through 2032.
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2015-2021 Nanocrystalline Soft Magnetic Materials Market Outlook in Comparison to 2022-2032 Growth Forecast
Nano crystalline soft magnetic materials exhibit high permeability, enhanced saturation flux density, low core loss, high-temperature resistance, low ageing effects, and high-frequency characteristics. A CAGR of 15.2% was documented for the market during the 2015-2021 historical period of assessment.
Efforts and expenditure for developing effective materials to improve product performance are likely to play a key role in market expansion. Furthermore, automotive electrification and rising competition between key players in the global market are expected to drive market growth. Thus, Fact.MR predicts that the nanocrystalline soft magnetic materials market is expected to register a growth rate of 15.13% CAGR of during 2022 and 2032.
Automotive Electrification Fueling Global Market Demand?
Electric vehicles have created significant demand for compact-sized power supply circuits with reduced weight. Continuous downsizing and space-saving designs generate noise at high-frequency ranges, which cannot be suppressed by conventional soft magnetic materials. Thus, electro-mobility is considered to be one of the most recent and dynamically emerging areas where nano-crystalline soft magnetic materials will witness high adoption.
According to research conducted by International Energy Agency, in European countries, Battery Powered Electric Vehicles registrations accounted for 54% of electric car registrations in 2020, continuing to exceed those of plug-in hybrid electric vehicles (PHEVs). Increasing consumption of nano crystalline soft magnetic materials in electric vehicles and other range of applications like inverters, onboard chargers, batteries, DCDC converters, and motors will create lucrative avenues for market players.
Furthermore, robust growth of the electric and hybrid vehicles market with increased adoption of nano crystalline soft magnetic materials in automotive is poised to drive the market at a CAGR of ~10% during the forecast period (2021-2031).
High Frequency Transformers and Reactors Spurring Demand for High-Performance Magnetic Materials
Impressive high switching frequency and low core losses offered by nano crystalline soft magnetic materials are set to make it a material of choice in power electronic applications. Surging demand for power electronics with the ability to offer high performance at high frequencies will amplify the demand for nano crystalline soft magnetic materials.
Additionally, attributed to its high magnetic permeability and flux density, nano crystalline soft magnetic materials have emerged as an ideal soft magnetic material in widespread applications such as transformers, reactors, and chokes for noise filters. Heightening demand for nano crystalline soft magnetic materials in high-frequency transformers and reactors is set to spur market growth in the coming years.
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Country-Wise Insights
What are the Growth Opportunities for Nano Crystalline Soft Magnetic Materials in Germany?
In the last quarter of 2020, countries like Germany and France announced increased support measures towards electric vehicles to support the European Union’s existing policies and regulations.
According to a report published by the European Commission, the applications of nano crystalline soft magnetic materials in the electronic industry have surged owing to their attributes. Germany is projected to be the most lucrative region across Europe owing to the increased demand from the automotive sector for the production of electric vehicles. According to International Energy Agency, Germany registered 25% market share for selling electric cars.
Moreover, Germany’s federal government announced that it intends to register 7 to 10 million electric vehicles in the country by the end of this decade. Based on these factors, the market for nano crystalline soft magnetic materials is projected to be highly lucrative in Germany during the forecast period. Thus, Germany is expected to register a 10% CAGR for crystalline soft magnetic materials market in the forecast period.
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Category-Wise Insights
How is Increasing Demand for Transformers Driving Market Expansion?
Demand for industrial control transformers has remained significantly high in a wide range of end-use industries, as the need for stepped-down voltage is an important aspect for the seamless working of machine tool control devices in isolating control circuits.
Manufacturers in the industrial control transformers market are adopting strategies to ensure compliance with international as well as local standards to gain an edge in the market.
As per Fact.MR’s projections, the global demand for electricity is projected to reach around 38,700 terawatt-hours by 2050, increasing the demand for nano crystalline soft magnetic materials. Thus, transformers are expected to register a CAGR of 6% in the assessment period.
How is the Semiconductor Industry Propelling Growth?
The semiconductor industry has been propelling growth in the global market for nano crystalline soft magnetic materials. In July 2021, the Semiconductor Industry Association (SIA) announced that global semiconductor industry sales were US$ 43.6 Billion in the month of May 2021, an increase of 26.2% from May 2020.
The global semiconductor market is the backbone of every other technological industry and advancement. The semiconductor market serves almost every producer of consumer electronics and is projected to expand continuously.
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Competitive Landscape
The European nano crystalline soft magnetic materials market is a highly consolidated market in which a small group of players accounts for near half of the global sales.
To address the increasing demand for high-performance soft magnetic materials, players have launched a new range of products. Further, prominent players have focused their cash reserves to optimize the manufacturing process, maintaining their supremacy in the market during the forecast period.
Fact.MR has provided detailed information about price points of key manufacturers in nanocrystalline soft magnetic materials market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
- For instance, Magnetec is offering a wide variety of products that are used in smart grids, wind turbines and solar inverters.
Nanocrystalline Soft Magnetic Materials Market Segmentation
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Europe Nanocrystalline Soft Magnetic Materials Market by Classification :
- One Dimensional Nanocrystalline Soft Magnetic Materials
- Two Dimensional Nanocrystalline Soft Magnetic Materials
- Three Dimensional Nanocrystalline Soft Magnetic Materials
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Europe Nanocrystalline Soft Magnetic Materials Market by Application :
- Nanocrystalline Soft Magnetic Materials for Transformers
- Portable
- Nanocrystalline Soft Magnetic Materials for Transmission
- Nanocrystalline Soft Magnetic Materials for Distribution
- Nanocrystalline Soft Magnetic Materials for Motors
- 1 HP-100 HP
- 101 HP-200 HP
- 201 HP-1000 HP
- Above 1000 HP
- Nanocrystalline Soft Magnetic Materials for Inductors
- Nanocrystalline Soft Magnetic Materials for Generators
- Nanocrystalline Soft Magnetic Materials for Transformers
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Europe Nanocrystalline Soft Magnetic Materials Market by End Use Industry :
- Nanocrystalline Soft Magnetic Materials for Consumer Electronics & Applications
- Nanocrystalline Soft Magnetic Materials for Healthcare
- Nanocrystalline Soft Magnetic Materials for Automotive
- Nanocrystalline Soft Magnetic Materials for Semiconductors
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Europe Nanocrystalline Soft Magnetic Materials Market by Country :
- Germany
- U.K
- France
- Spain
- Italy
- BENELUX
- Russia
- Poland
- Rest of Europe
- FAQs -
What is the Europe nanocrystalline soft magnetic materials market scenario for 2022?
The Europe value of nanocrystalline soft magnetic materials is estimated to be worth US$ 110 Million in 2022
What is the anticipated value CAGR for the nanocrystalline soft magnetic materials market in Europe until 2032?
Fact.MR forecasts the demand for nanocrystalline soft magnetic materials in Europe to flourish at a 15.13% CAGR from 2022-2032
How far is the Europe demand expected to reach over the 2022-2032 period of forecast?
The demand for nanocrystalline soft magnetic materials across Europe is anticipated to surpass US$ 450 Million by 2032 end
Who are the prominent players in the Europe Nanocrystalline Soft Magnetic Materials Market?
Some of the prominent players in nanocrystalline soft magnetic materials market are Advanced Technology, Bomatec and Magnetec.
Which is the leading region in the Nanocrystalline Soft Magnetic Materials Market?
Germany tops the Europe nanocrystalline soft magnetic materials market accounting for 10% of the market share in 2022.
Which nanocrystalline soft magnetic materials application contributes maximum share in sales?
Transformers are expected to register a 6% CAGR for nanocrystalline soft magnetic materials market.