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Nanocrystalline Soft Magnetic Material industry Analysis in Western Europe
Growth is driven by the demand for efficient power conversion in renewable energy systems and the miniaturization of electronic devices | Fact Report
ROCKVILLE, MD , MD, UNITED STATES, January 28, 2025 /EINPresswire / -- According to a recently released Fact
market report, sales of nanocrystalline soft magnetic materials in Western Europe are expected to reach US$ 4.43 billion by the end of 2034, up from an estimated US$ 1.74 billion in 2024 at a 9.8% compound annual growth rate.
Compared to traditional materials, nanocrystalline soft magnetic materials offer better magnetic characteristics. They are very desirable for many applications, such as motors, inductors, etc., because of their low coercivity, high permeability, and low core losses. The need for materials that meet these demands is also being fuelled by technological developments and the growing need for electrical gadgets that are more efficient and small.
The nanocrystalline soft magnetic material industry in Western Europe is poised for significant growth, driven by advancements in energy efficiency technologies and the rising adoption of renewable energy sources such as solar and wind power. With a focus on reducing energy loss and improving performance, nanocrystalline materials are becoming essential in applications like transformers, inductors, motors, and generators.
Key growth drivers include the increasing demand for lightweight, compact, and energy-efficient components in industries such as automotive, consumer electronics, and healthcare. The automotive sector, in particular, is leveraging these materials for electric vehicles (EVs) and hybrid technologies, which require high-efficiency power conversion systems. Furthermore, advancements in semiconductors and miniaturization trends in electronics are bolstering the adoption of these materials.
Additionally, regional efforts to transition toward sustainable energy solutions and enhance power transmission systems are expected to fuel the market. Countries like Germany, the United Kingdom, and Italy are witnessing heightened demand due to their focus on renewable energy and technological innovation, positioning Western Europe as a key market for nanocrystalline soft magnetic materials.
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Key Takeaways from Market Study:
The nanocrystalline soft magnetic material market in Western Europe is projected to grow from US$ 1.74 billion in 2024 to US$ 4.43 billion by 2034, at a CAGR of 9.8%.
In 2024, the United Kingdom's market is estimated at US$ 288.1 million, while Italy is expected to experience a CAGR of 11.5% from 2024 to 2034.
The demand for two-dimensional nanocrystalline soft magnetic materials is anticipated to grow at a CAGR of 11.7% during the same period.
Consumer electronics and applications are expected to account for over 40% of the market share in 2024.
Key companies in this market include Ames Laboratory, Hitachi Metals Europe GmbH, Arnold Magnetic Technologies, and Vacuumschmelze.
Leading Players Driving Innovation in the Nanocrystalline Soft Magnetic Material Industry Analysis in Western Europe:
Ames Laboratory; Hitachi Metals Europe GmbH; Arnold Magnetic Technologies; Vacuumschmelze
Country-wise Insights:
The market for nanocrystalline soft magnetic materials in Germany is projected to grow from a value of US$ 415.7 million in 2024 to reach US$ 1.01 billion by 2034, expanding at a robust CAGR of 9.3% during the forecast period. These materials, known for their low coercivity and high magnetic permeability, are highly effective in energy applications such as inductors, motors, and transformers.
The increasing focus on renewable energy sources, including solar and wind power, is expected to drive the demand for efficient energy conversion and transmission systems, further boosting sales of nanocrystalline soft magnetic materials in Germany.
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More Valuable Insights on Offer:
Fact, in its new offering, presents an unbiased analysis of the Nanocrystalline Soft Magnetic Material Industry Analysis in Western Europe, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on classification, application, end-use industry, and country. By classification, the materials are categorized into one-dimensional, two-dimensional, and three-dimensional types. Applications include transformers, portable devices, transmission, distribution, motors (further segmented by power range: 1hp to 100hp, 101hp to 200hp, 201hp to 1000hp, and above 1000hp), inductors, and generators. The end-use industries driving demand include consumer electronics and applications, healthcare, automotive, and semiconductors. Geographically, the study covers Germany, the United Kingdom, France, Italy, Spain, Nordic countries, BENELUX, and the rest of Western Europe, offering a comprehensive regional analysis.
Explore More Related Studies Published by Fact Research:
Increasing at a CAGR of 10.2%, the global nanocrystalline soft magnetic material market size is forecasted to jump from US$ 7.79 billion in 2024 to US$ 20.58 billion by 2034. Nanocrystalline soft magnetic materials are exhibiting increasing usage in the automobile industry.
The soft magnetic material market size reached US$ 63.42 billion in 2024. Over the forecast period, soft magnetic material demand is anticipated to rise at a 7.8% CAGR. Total market value is predicted to increase from US$ 134.40 billion by 2034.
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