Soft Magnetic Composites (SMCs) Market is set to expand at a CAGR of 6.5% over the forecast period of 2020 to 2030 from Margo Trobbie's blog
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
Growing
automotive and electrical industry across the globe, especially in India and
China, has cascaded the demand growth of the global soft magnetic composites
(SMCs) market. Promising regions such as Europe, Japan, and North America too
have provided a platform for the growth of the global
soft magnetic composites market, owing to rapid growth of the mentioned
sectors.
Cost-effective
and compact electromagnetic components made out of novel SMCs are set to drive
demand over the next decade. Moreover, the soft magnetic composites market is
in its growing stage in a PLC curve, owing to frequent innovations by key
stakeholders and rapidly changing market dynamics.
As per
Fact.MR analysis, significant growth in demand for soft magnetic composites has
been witnessed over the past half-decade, and the market is set to expand at a
CAGR of 6.5% over the forecast period of 2020 to 2030.
Key Takeaways from Global Soft Magnetic
Composites Market Study
Asia Pacific
excluding Japan dominates the demand pie of soft magnetic composites with a
market share over more than 28% in 2019.
The silicon
ferrite segment is anticipated to gain around 311 BPS over the forecast period
of 2020-2030.
Get Europe Region Sample of The
Report >>>https://www.factmr.com/connectus/sample?flag=S&rep_id=2543
The SMCs
market in Japan is set to expand at 6% CAGR over the forecast period, and is
evaluated to be among the promising regions providing absolute $ opportunity
for stakeholders.
The SMCs
markets in North America and Europe are set to inflate by more than 2X over the
forecast period, together accounting for more than 50% share of the global soft
magnetic composites market in 2020.
The ongoing
COVID-19 pandemic has led reduced industrial activities and disrupted supply
chains. Lockdowns across most countries have adversely affected the production
of soft magnetic composites.
Contact Information
Fact.MR
US Sales
Office:
11140
Rockville Pike, Suite 400 Rockville, MD
20852
United
States
Phone: +1
(628) 251-1583
The Wall