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Global Amorphous Soft Magnetic Materials Market to Grow at a CAGR of 4.83% During the Period 2022-2027, Driven by Applications in Sectors Such as Automobiles and Electronics

According to a new report by EMR titled, ‘Global Amorphous Soft Magnetic Materials Market Report and Forecast 2022-2027’, the global amorphous soft magnetic materials market is expected to grow at a CAGR of 4.83% during the period 2022-2027, led by need for sustainable solutions complying with regulations.

Uses in automobiles, electronics and electrical equipment are expected to drive the global amorphous soft magnetic materials market. Further, solutions enabling reduced CO2 emissions, compliance with regulatory standards and conservation of energy would help market growth. North America, Europe and Asia are expected to be key markets.

Soft magnetic alloys are materials that can be easily magnetized and demagnetized; soft magnetic materials are generally characterized by intrinsic coercivity less than 1000 Am-1. Soft magnetic alloys are being employed in electrical motors that need to function in mechanically stressful environments, such as in hybrid vehicles. Fe-based amorphous/nanocrystalline soft magnetic alloys are extensively employed in high-tech fields such as communications and computers owing to the advantages they offer, such as high saturation magnetic induction, magnetic permeability, resistivity, low coercivity, and iron core loss.

Applications of Fe-based soft magnetic alloys generally fall under two categories:

  • In production and utilisation of electromagnetic energy: Fe-based soft magnetic alloys are cost-efficient and environmentally friendly. Furthermore, these exhibit high magnetic permeability, low energy losses and high magnetic saturation. Therefore, these alloys are widely used in these applications. Fe-Si-based alloys are accepted as the most suitable for the domain.
  • In signal processing: Fe-Ni-based alloys generally employed in informatics, electronics, transducers, magnetic recording heads, microwave installations, etc.

With time, a better understanding of alloy design has been achieved towards enhancing the glass forming ability (GFA) of soft magnetic amorphous materials. Amorphous alloys for soft magnetic applications are generally formed by quick solidification of the melt. These are generally made by adding around 20 percent of metalloids [Silicon (Si), Boron (B), Aluminium (Al), Carbon (C) and Phosphorous (P)] for Fe-based and Co-based alloys. Silicon and Boron hold significance in glass formation and amorphous structure stabilisation. Magnetic glassy alloys have various compositions, allowing for the achievement of a wide range of soft magnetic properties.

Leading companies are looking to provide technologically advanced and efficient solutions that offer functional advantages as well as ecological benefits. In 2017, Hitachi Metals announced the development of block cores of high-frequency power converters for handling over 100 kW employing FINEMET® nanocrystalline soft magnetic materials and Metglas® amorphous metals. The product sought to significantly decrease the size of transformers and reactors. The company offers Metglas® amorphous metals, FINEMET® nanocrystalline soft magnetic materials, and other materials and products for use in energy conservation purposes in power transformers and a variety of other applications.

Key Findings of the Report:

  • Applications of amorphous soft magnetic materials across sectors including automobiles, electronics and electrical equipment (such as electric motors, transformers generators, etc.) are expected to stimulate market growth.
  • Innovative solutions that enhance performance, reduce energy consumption, help compliance with regulations and are environmentally friendly are likely to boost demand. 
  • North America, Europe and Asia are expected to be key markets.

Market Analysis by Type, Application, and Region:

  • By type, the market is classified into Iron-based, Fe-Ni-based, Cobalt-based, and Others.
  • By application, the market is divided into Flexible Antenna, Transformers, Magnetic Sensors, Magnetic Shielding, Electronic Article Surveillance, and Others.
  • By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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