The global soft ferrite core market is projected to amass a revenue of around USD 3.5 billion by 2033, up from USD 1.9 billion in 2023, moving forward with a CAGR of 6.2% during the forecast period.
High-frequency characteristic is the major factor driving the sales of soft ferrite cores, which are widely adopted for manufacturing automobile components. Moreover, ferrite cores are used to improve the efficiency of power supplies (switch mode power supply) with minimized power transformer losses, and the same is pushing the growth of the soft ferrite core market forward.
Soft ferrite cores are made up of material that can be easily magnetized and demagnetized, catering to the rising demand from various applications. On the flip side, complexity in minimizing eddy current losses is the major challenge faced by most manufacturers in the market, dwindling the soft ferrite core market share during the forecast period.
Top 4 Factors Spearheading the Soft Ferrite Core Market
Wide Applications
The demand for soft ferrite cores is increasing as they are widely used in power and electromagnetic applications. In addition, the soft ferrite core market is significantly fostered by its role in enhancing the electric current's flux. Moreover, the sales of soft magnetic cores are expected to soar as they are extensively used in several power circuits, such as magnetic amplifiers, inductors, chokes, and current transformers.
Automotive Industry
Increasing ferrite core usage in producing automotive components with increased cost-effectiveness compared to other materials is anticipated to expand the soft ferrite core market size during the forecast period.
Electronics Industry
In addition to being widely employed in sensors like inductive proximity sensors, soft ferrite cores are also widely used in EMI suppression devices, positively impacting the market outlook. It is a major driver of the adoption of soft ferrite cores in consumer electronics and home appliances, and it is anticipated to support market revenue growth in the future.
Improving Power Transformers
The use of soft ferrite cores in high-frequency transformers is shaping the market. Soft ferrite core plays a significant role in energy saving as it requires less air conditioning. The employment of ferrite cores in transformers and inductors and their management with little energy loss when the magnetic polarity is reversed, is expected to spike the demand for soft ferrite cores to a considerable extent.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.2% |
| Market Valuation (2023) | USD 1.9 billion |
| Market Valuation (2033) | USD 3.5 billion |
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The market is estimated to register a CAGR of 4.1%, with a valuation of USD 1.5 billion in 2018 and USD 1.8 billion in 2022.
Soft ferrite cores are widely used in various applications, including consumer electronics, automotive electronics, power supplies, telecommunications, and renewable energy systems. These cores provide high magnetic permeability and low electrical conductivity, making them suitable for applications where electromagnetic interference (EMI) suppression and efficient energy conversion are essential.
Between 2018 and 2022, the soft ferrite core market experienced steady growth due to increasing demand from sectors such as automotive electronics, industrial automation, and renewable energy. The growing adoption of electric vehicles (EVs), the expansion of 5G infrastructure, and the rising demand for renewable energy sources were among the key drivers for the market.
Additionally, the proliferation of smart devices, IoT (Internet of Things) applications, and the increasing need for high-frequency transformers and inductors also contributed to the demand for soft ferrite cores during this period.
Based on application, consumer electronics dominate the ferrite core market. Consumer electronics is estimated to secure a share of 33.1% in the global market by 2033.
Consumer electronics indeed represent a significant application segment in the ferrite core market. Soft ferrite cores are widely used in consumer electronic devices, including electromagnetic interference (EMI) suppression, power supply filtering, and noise reduction. Some common consumer electronics applications where ferrite cores are utilized include:
Principal Consultant
| Countries | Forecast Share (2022 To 2033) |
|---|---|
| United States | 18.7% |
| Germany | 9.1% |
| Japan | 4.7% |
| Australia | 3.9% |
| Countries | Forecast CAGR (2023 To 2033) |
|---|---|
| China | 5.6% |
| India | 8.7% |
| United Kingdom | 4.3% |
Due to an increase in the manufacture of electrical equipment in the region, North America is anticipated to get hold of a soft ferrite core market share of 42.2% in 2022.
The market in the region is also influenced by significant regional market players in the electrical sector, like General Electric, who exhibit an increase in soft ferrite core usage. Along with these factors, the region's market is also being driven by government initiatives for rapid economic expansion, energy-efficient appliances, changes in consumer lifestyles, and many manufacturers' existence.
The demand for electronic equipment has soared due to a high level of living and an increase in disposable income, and the same are expected to contribute to Europe's 21.1% market share in 2022.
Additionally, the need for RADAR systems has expanded across the region due to economic and security concerns, particularly in the aerospace and defence sectors, which is expanding the soft ferrite core market size. On the other hand, prices jumped to USD 95 per ton in markets based on the dollar in Europe, or €90 per ton, and the same is likely to dwindle in the market in Europe.
In general, the soft ferrite core market is fairly consolidated. Major manufacturers are seen engaging in product development, intensive research, and customization of their offerings to specialized and promising applications to augment their market share.
One of the tier 1 players is Toshiba Corp (Toshiba Materials Co., Ltd.), followed by Hitachi Metals Ltd. and Voestalpine Stahl GmbH. They are expected to hold a combined market share of more than 50% worldwide. Another prominent start-up in the market can be Viona Magnetics, which was founded in 1999. It provides services for the military, medical, broadcast, aerospace, automobile, electronics, and telecommunications sectors.
Like in several other industrial sectors, numerous start-ups have come up to compete with present-day soft ferrite core market players by adopting the newest technologies. For instance, a custom maker of ceramic magnets with barium or strontium ferrite magnet cores is available for use in loudspeakers, motors, craft projects, and toys.
Magnet cores are brittle and resistant to demagnetization. Pressing, sintering, injection moulding, assembling, surface treatment, machining, magnetizing, and handling are among the capabilities. Well-known manufacturers have also demonstrated the use of inorganic techniques.
Hybrid Electronics, an emerging start-up founded in 2005 at Stanford, is the EMI ferrite core distributor for wiring and cables. A few examples of secondary services are reeling, testing, retaining, up screening, and encapsulation or counterfeit detection.
Other Essential Players in the Global Market are:
Recent Developments in Soft Ferrite Core Market are as follows:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Type, Application, Region |
| Key Companies Profiled | TDK Corporation; DMEGC; MAGNETICS; Acme Electronics; Hitachi metals Ltd.; Ferroxcube International Holding B.V.; HEC Group; Toshiba materials Co. Ltd.; SAMWHA Electric. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
In 2023, the market was valued at USD 1.9 billion.
Until 2033, the market will experience a 6.2% CAGR.
An increase in the manufacture of electrical equipment in the region is shaping the North American market.
The market share of Europe in 2022 was 21.1%.
The market share of North America in 2022 was 42.2%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Manganese-Zinc Ferrite 5.2. Core and Nickel-Zinc Ferrite Core 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Consumer Electronics 6.2. Household Appliances 6.3. Communication 6.4. Automotive 6.5. LED 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. TDK Corporation 17.2. DMEGC 17.3. MAGNETICS 17.4. Acme Electronics 17.5. Hitachi Metals Ltd. 17.6. Ferroxcube International Holding B.V. 17.7. HEC Group 17.8. Toshiba Materials Co. Ltd. 17.9. SAMWHA Electric 17.10. Amidon Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Soft Ferrite Core Market
