Friday, 20 September 2019

Soft Ferrite Market To Exhibit Significant Incremental Dollar Opportunity During The Forecast Period 2019 – 2027

The soft ferrite market space remains highly competitive, wherein the leading players account for a significant revenue share. The manufacturers of soft ferrite have been continually emphasizing on business expansion across potential markets such as Asia Pacific and many other emerging economies.

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For instance- GKN Driveline, a division of GKN plc, introduced new technology centers and production facilities in the Asia Pacific region in a bid to expand its operations. Hitachi Metals, another key player in the soft ferrite market, also focuses on implementation of global strategies for business expansion across India and China, two of the rapidly evolving automotive markets.

Key players of soft ferrite market are also focusing on organic growth and product development strategies aimed at improving the sales & distribution network and to reinvigorate their operational efficiencies. In addition to that, the key players are also reinforcing the production and marketing framework to reap sizeable gains via increased production.

Use of Additives for Amelioration of Ferrites’ Magnetic Properties- An Evolving Manufacturing Trend

Practice of incorporating additives with ferrites, both hard and soft, is being extensively exercised. Competency of additives to significantly enhance the magnetic properties of ferrites by influencing their grain growth and density is predominantly spurring their adoption. Favorable studies acknowledging role of additives in enhancing properties such as grain growth, power loss, electric resistance, and permeability, is intensifying its importance in case of ferrites, both hard and soft.

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Some of the commonly used additives include calcium oxide (CaO), silicon dioxide (SiO?), titanium dioxide (TiO2), and many more. Moreover, use of additives is also believed to have positive impacts on permeability, which remains one of the highly-valued characteristics in case of soft ferrite.

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.

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.

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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.

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