Nanocrystalline Soft Magnetic Material Industry Analysis in Middle East & Africa
Study on Nanocrystalline Soft Magnetic Materials in Middle East & Africa by One-, Two-, and Three-dimensional for Transformers, Motors, Inductors, and Generators from 2024 to 2034
Analysis of Nanocrystalline Soft Magnetic Material Industry Covering Countries Includes Analysis of GCC Countries, South Africa, and Rest of MEA.
Nanocrystalline Soft Magnetic Material Sales Outlook for Middle East & Africa (2024 to 2034)
Recently published market study by Fact.MR reveals that sales of nanocrystalline soft magnetic materials in the Middle East & Africa are calculated at US$ 362.6 million in 2024, with the market projected to increase at a CAGR of 9.7% and reach US$ 915 million by the end of 2034.
Increasing industrialization in MEA along with increasing investment in several sectors, including electronics, manufacturing, and automotive is projected to generate demand for high-performance and more efficient magnetic materials. They are used prominently in motors, transformers, sensors, and inductors. Further, increasing concentration on renewable energy sources, such as solar and wind is projected to lead to the demand for more efficient energy conversion and transmission systems. High permeability and low core losses of nanocrystalline soft magnetic materials make them suitable for application in transformers and similar components used in renewable energy systems.
Increasing demand for consumer electronics in MEA is attributed to technological advancements in devices and rising disposable income, which increase the expenditure capacity of people. The growing use of nanocrystalline soft magnetic materials in numerous electronic devices, such as laptops, appliances, and smartphones is estimated to widen opportunities for market players.
| Report Attributes | Details |
|---|---|
| Nanocrystalline Soft Magnetic Material Sales in Middle East & Africa (2024E) | US$ 362.6 Million |
| Projected Sales (2034F) | US$ 915 Million |
| Demand Growth (2024 to 2034) | 9.7% CAGR |
| Sales in GCC Countries (2024E) | US$ 97.9 Million |
| Demand Growth in South Africa (2024 to 2034) | 12.6% CAGR |
| Demand Growth for Two-dimensional NCSMM (2024 to 2034) | 11.7% CAGR |
| Market Share of Consumer Electronics & Applications (2024E) | >43% |
| Key Companies Profiled |
|
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What is Responsible for Increasing Demand for Nanocrystalline Soft Magnetic Materials in MEA?
“Industrialization Increasing Requirements for Nanocrystalline Soft Magnetic Materials”
Rising industrialization in MEA is owing to growing investments across several sectors, including automotive, electronics, and manufacturing. This is estimated to lead to the heightened demand for high-performance and efficient nanocrystalline soft magnetic materials. The region is actively diversifying its economy with an increasing emphasis on the development of its manufacturing base. Nanocrystalline soft magnetic materials play a vital role in the manufacturing sector, especially in the production of motors, inductors, and transformers, used in the manufacturing process.
Expansion of the automotive industry in the Middle East & Africa is due to growing consumer demand for automobiles along with government initiatives promoting local manufacturing and assembly. Nanocrystalline soft magnetic materials are used in EV technology, where they are used in power electronics, charging infrastructure, and electric motors. Significant growth of the electronics market is contributing to the demand for nanocrystalline soft magnetic materials in electronic devices, such as consumer appliances, laptops, and smartphones.
Country-wise Insights
Which Market Trends are Driving Demand for NCSMM in GCC Countries?
“Technological Advancements in Most Industries”
| Attribute | GCC Countries |
|---|---|
| Market Value (2024E) | US$ 97.9 Million |
| Growth Rate (2024 to 2034) | 7.8% CAGR |
| Projected Value (2034F) | US$ 208 Million |
Governments in GCC countries are investing significantly in technological advancements across diverse industries, including electronics, automotive, and renewable energy sectors. Nanocrystalline soft magnetic materials provide effective magnetic properties, thus making them ideal for use in electric motors, transformers, and power electronics, subsequently contributing to market growth.
Will South Africa Offer Lucrative Opportunities for NCSMM Suppliers?
“Growing Initiatives for Infrastructure Modernization”
| Attribute | South Africa |
|---|---|
| Market Value (2024E) | US$ 102.9 Million |
| Growth Rate (2024 to 2034) | 12.6% CAGR |
| Projected Value (2034F) | US$ 337 Million |
The government in South Africa has been giving priority to infrastructure development to improve living standards and support economic growth. This includes distribution infrastructure and upgrading power transmission. Nanocrystalline soft magnetic materials contribute to the development of reliable and efficient electrical equipment, therefore matching the requirements of modern infrastructure projects.
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Category-wise Insights
Why are Nanocrystalline Soft Magnetic Materials Widely Used in Motors?
“Move toward Green Energy Supporting Demand for Nanocrystalline Soft Magnetic Materials”
| Attribute | Motors |
|---|---|
| Segment Value (2024E) | US$ 112.9 Million |
| Growth Rate (2024 to 2034) | 9.8% CAGR |
| Projected Value (2034F) | US$ 288 Million |
A noteworthy shift to renewable energy sources, including solar and wind power, is estimated to lead to the adoption of reliable and efficient motors for generators and other similar components. Nanocrystalline soft magnetic materials are projected to contribute to improving the efficiency and performance of motors. Thus, the increasing demand for nanocrystalline soft magnetic materials in motors is attributed to the requirements for high efficiency, better performance, and smaller size to make them suitable for electric vehicles.
Why Do Consumer Electronics & Applications Account for Higher Market Share?
“Technological Advancements in Consumer Electronics & Applications”
| Attribute | Consumer Electronics & Applications |
|---|---|
| Segment Value (2024E) | US$ 159.2 Million |
| Growth Rate (2024 to 2034) | 10.1% CAGR |
| Projected Value (2034F) | US$ 417 Million |
Increasing incidences of the development of advanced technologies, including artificial intelligence (AI), Internet of Things (IoT), and augmented reality (AR) are expected to increase inclination to advanced electronic devices with improved functionality and improved performance. Nanocrystalline soft magnetic materials play a vital role in enabling the development of these technologies by offering reliable and efficient magnetic components.
Competition Landscape
Fact.MR, a market research and competitive intelligence provider, in its newly published report, mentions that companies operating in nanocrystalline soft magnetic materials adopt multiple strategies to enrich their product portfolio. They are constantly putting efforts to increase their profit share with an active engagement in new development.
Further, management of supply chain systems and offering quality products are some of the other initiatives, which can help players get a competitive edge. Some of the prominent manufacturers of nanocrystalline soft magnetic materials in the Middle East & Africa are Hitachi Metals Ltd., NanoAmor, Electron Energy Corporation, TDK Corporation, MagDev Ltd., and Vacuumschmelze GmbH & Co. KG.
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Segmentation of Nanocrystalline Soft Magnetic Material Study in Middle East & Africa
-
By Classification :
- One-dimensional
- Two-dimensional
- Three-dimensional
-
By Application :
- Transformers
- Portable
- Transmission
- Distribution
- Motors
- 1hp to 100hp
- 101hp to 200hp
- 201hp to 1000hp
- Above 1000hp
- Inductors
- Generators
- Transformers
-
By End-use Industry :
- Consumer Electronics & Applications
- Healthcare
- Automotive
- Semiconductors
-
By Country :
- GCC Countries
- South Africa
- Rest of MEA
- FAQs -
What are the estimated sales for nanocrystalline soft magnetic materials in the Middle East & Africa?
Sales of nanocrystalline soft magnetic materials in the Middle East & Africa are estimated at US$ 362.6 million in 2024.
What is the forecasted demand value for nanocrystalline soft magnetic materials by 2034?
The market in the Middle East & Africa is forecasted to reach US$ 915 million by 2034.
At what rate are the sales of nanocrystalline soft magnetic materials projected to rise?
Sales of nanocrystalline soft magnetic materials are forecasted to rise at a CAGR of 9.7% from 2024 to 2034.
How much share of the MEA market is held by consumer electronics & applications?
Consumer electronics & applications account for more than 43% share of the Middle East & Africa market in 2024.
What is the market situation for nanocrystalline soft magnetic materials in South Africa?
Sales of nanocrystalline soft magnetic materials in South Africa are approximated at US$ 102.9 million in 2024.
What is the projected CAGR for nanocrystalline soft magnetic materials demand in GCC countries?
Demand for nanocrystalline soft magnetic materials in GCC countries is projected to advance at a CAGR of 7.8% from 2024 to 2034.
At what rate is the demand for two-dimensional nanocrystalline soft magnetic materials expected to rise?
Revenue from sales of two-dimensional nanocrystalline soft magnetic materials is projected to accelerate at a CAGR of 11.7% from 2024 to 2034.
Nanocrystalline Soft Magnetic Material Industry Analysis in Middle East & Africa