Transportation restrictions and stringent government policies are causing a downturn in the growth scale of the Soft Ferrite Market amidst the COVID-19 (Coronavirus) lockdown period. Hence, analysts at Fact.MR have collated a research study that provides an in-depth outlook on Coronavirus and how the novel virus can leave long-term effects in trade practices post lockdown period in the Soft Ferrite Market.
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Sales of soft ferrite have witnessed a sheer proliferation in the recent past, in line with the preference for materials with outstanding magnetic characteristics and electrical resistance. The soft ferrite market is projected to witness volume sales of nearly 11,122 Tons by 2019, up from 10,506 tons in 2018, as per the latest research study by Fact.MR. Unwavering demand for soft magnetic materials from booming electrical, electronics, and automotive industries is predominantly spurring the worldwide sales of soft ferrite. According to the report, cost-effectiveness, optimum efficiency, and easy availability are some of the major factors fostering the adoption rate of soft ferrite.
Prolific use of soft magnetic materials in case of static and passive electrical components has been identified as a key driver. Soft ferrite manufacturers are strengthening innovations and speeding up the ‘time-to-market’ aspect for increasing their market share.
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“Volatile pricing associated with the raw materials might pose challenges for the manufacturers, from an expansion standpoint. Low-frequency hysteresis loop is one of the key disadvantages associated with soft magnetic materials, which is likely to hinder the adoption of soft ferrite“, Senior Analyst, Fact.MR
Mn-Zn Ferrite Overshadows Ni-Zn Variant, High Permeability Remains the Key USP
Low loss at high frequencies is one of the major attributes driving adoption of soft ferrite in case of switched-mode power supply (SMPS) systems. The Fact.MR study also opines that Mn-Zn Ferrite will outsell the Ni-Zn Ferrite in the future. Continual preference for Mn-Zn Ferrite by virtue of its high permeability is the key aspect retaining its buoyancy in the soft ferrite market in 2018 as well as in 2019.
While motors remain the largest application area in the soft ferrite market, Fact.MR study shows that use of soft ferrite in case of inductors is foreseen to scale new heights, with an anticipated Y-O-Y growth of nearly 8.5% in 2019. This growth can be attributed to emergence of new avenues such as telecommunication, power conversion, and interference suppression, wherein inductors are an integral part.
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The use of soft magnetic materials in several automotive components, ranging from anti-lock brake systems to fuel injectors, has been gaining prominence. Soft ferrite, being a prominent soft magnetic material, is also scaling up in terms of adoption and its popularity is likely to scale new heights.
Asia Pacific Retains its Buoyancy with Untapped Growth Opportunities
Asia Pacific is likely to dominate the soft ferrite market in terms of volume sales, followed by Europe. Presence of established players, coupled with the booming automotive and electronics industry is creating favorable circumstances for the market players, with an estimated volume sales of 3,661 tons by 2019. Moreover, rising pace of industrialization across developing nations of APEJ is also likely to introduce investment-making opportunities for the manufacturers of soft ferrite. Thriving economies, such as India and China, are poised to register high demand for soft ferrite over the forecast timeline, owing to widespread use of grain-oriented materials for upgrading the present grid infrastructure.
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The soft ferrite market remains a highly competitive landscape, which portrays the monopoly of prominent market players holding a significant revenue share. In response to the highly competitive scenario, the leading companies are adopting aggressive strategies to offer distinguishable products at competitive prices for long-term customer retention.
The Fact.MR report offers exclusive insights on the growth potential of soft ferrite market over the forecast period of 2018 to 2027. As per the report, the soft ferrite market is likely to proliferate at a volume CAGR of 6% over the forecast period.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/10/10/1928090/0/en/Global-Magnesium-Sulphate-Market-to-Undergo-a-Paradigm-Shift-in-Nutraceuticals-Reveals-Fact-MR.html
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