Soft magnetic composite is a composite material composed of soft magnetic ferrite and polymer matrix, which has soft magnetic function and belongs to the chemical engineering terminology. It has the characteristic of low coercivity for magnetic flux density and magnetization strength, making it easy to magnetize and demagnetize.

Overview of Market Development

In recent years, the global soft magnetic composites market has shown a steady growth trend. According to our research data, the estimated revenue of the global soft magnetic composites market in 2024 is $737 million, an increase of 6.28% compared to 2023, and is expected to continue to increase to $987 million by 2029. The CAGR for 2024-2029 is estimated to be 6.02%.

Segmented Market Analysis

From the perspective of product types, soft magnetic composites can be divided into metallic alloys soft magnetic materials and soft ferrites materials according to different materials. Among them, soft ferrites materials occupy the largest market share, with an estimated market share of 47.71% in 2024.

From the perspective of downstream application patterns, soft magnetic composites are widely used in multiple fields such as automotive, consumer electronics, household appliances, and communication. Among them, the automotive industry is the largest downstream application market, with an estimated application share of 39.42% in 2024.

Source: www.globalmarketmonitor.com

Market Analysis of Major Regions

From a regional perspective, the global soft magnetic composites market is dominated by three major regions: North America, Europe, and Asia Pacific. Among them, North America is the largest sales market. Data shows that the sales volume of soft magnetic composites in North America is expected to reach 34.78k tons in 2024, with an estimated proportion of 32.84 tons in the global total sales; The Asia Pacific and European markets are expected to rank second and third with a market share of 30.51% and 28.55%, respectively.

Regions	Sales Volume (K Tons)	Proportion
North America	34.78	32.84%
Europe	30.24	28.55%
Asia Pacific	32.32	30.51%
South America	4.34	4.10%
Middle East & Africa	4.25	4.01%

Market Outlook Forecast

Technological innovation drives development: With the optimization of preparation processes and the emergence of new magnetic materials, the performance of soft magnetic composites will be further improved to meet more high-end application needs. ‌

Environmental awareness enhancement: Low pollution and renewable soft magnetic composites will become the development trend of the market, promoting the industry's transformation towards green production. ‌

For more industry information, please refer to our latest released "2023 Global Soft Magnetic Composites Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".