Soft Magnetic Composite Market is projected to grow USD 42.1 Bn in 2030, at a CAGR of 8.1%
The soft magnetic composite market was valued at USD 19.5 Bn in 2021. The market is projected to grow USD 42.1 Bn in 2030, at a CAGR of 8.1%. Soft magnetic materials are becoming increasingly important in a variety of end-user industries and applications due to their high permeability and ability to reduce eddy current loss. Because of their superior magnetic characteristics and productivity, iron-based soft magnetic composites are a possible substitute for laminate steel in electromagnetic applications. Because electrical steel is used in only a few applications in soft magnetic composites, the electrical steel segment is expected to grow steadily throughout the projected period. Higher-performance motors are required as a result of advancements in electric mobility as well as improvements in the efficiency of home appliances and industrial equipment. Request for a Sample Report Here: https://extrapolate.com/sample/Chemicals-and-Advanced-Materials/soft-magnetic-composite-market/25762