1 Global Nanocrystalline Soft Magnetic Materials Market Size (Value) and CAGR (2024-2033)
In 2024, the global Nanocrystalline Soft Magnetic Materials market was valued at USD 371.29 million, with a CAGR of 6.79% from 2024 to 2033.
The smallest fundamental component of a nanocrystal is called the crystallite, or grain. Materials that have nanocrystals distributed throughout, and have significantly different characteristics as a result, are called nanocrystalline materials. A nanocrystalline (NC) material is a polycrystalline material with a crystallite size of only a few nanometers. Semiconductor nanocrystals with dimensions smaller than 10 nm are also sometimes called quantum dots. The unique mechanical, chemical, electrical, and quantum properties of nanocrystalline materials have driven a great deal of technological advancement in recent decades.
In magnetics, “soft” describes a magnetic material with a low coercivity, i.e., an alloy created by crystallizing an Fe-based amorphous soft magnetic alloy. In this material, nanocrystal grains are dispersed quite evenly throughout the amorphous (or non-crystalized) phase. This material is ferromagnetic at room temperature, and in conjunction with the nanocrystals, realizes a low saturation magnetostriction constant, making it a very magnetically soft material.
Figure Global Nanocrystalline Soft Magnetic Materials Market Size (M USD) and CAGR 2024-2033
2 Nanocrystalline Soft Magnetic Materials Market Drivers
One of the most significant drivers is the continuous development of the new energy industry. As countries worldwide seek sustainable energy solutions, the demand for NSMM in applications such as solar photovoltaic inverters, electric vehicle chargers, and high-frequency transformers is surging. These materials are essential for improving the efficiency and performance of renewable energy systems, making them a critical component in the transition to cleaner energy sources.
Another major driver is the increasing demand for electric power. With the advancement of high-frequency inverter technology, traditional power supplies are being replaced by more efficient high-frequency switching power supplies. NSMM, with their high saturation magnetic inductance and low high-frequency loss, are the preferred choice for these applications. This trend is particularly evident in industries such as telecommunications, electric vehicles, and industrial electronics, where efficiency and miniaturization are paramount.
The intrinsic properties of NSMM also play a crucial role in driving market growth. These materials offer high permeability, low loss, and low coercive force, making them ideal for high-frequency power electronics. As electronic devices continue to evolve towards higher frequencies, energy efficiency, and miniaturization, the demand for NSMM is expected to grow.
3 Nanocrystalline Soft Magnetic Materials Market Restraints
One of the primary concerns is the fluctuation in the supply of raw materials. The production of NSMM relies heavily on specific raw materials such as iron, silicon, boron, niobium, and copper. Fluctuations in the availability and pricing of these materials can significantly impact production costs and operational efficiency. Manufacturers are often faced with the challenge of managing these costs while maintaining product quality, which can be particularly difficult in a volatile market environment.
Another significant restraint is the intense competition within the market. The NSMM industry is highly concentrated, with a few major players dominating the market. These companies must continuously innovate and improve their products to stay competitive. Failure to keep pace with technological advancements and market demands can result in a loss of market share and declining performance. The need for constant product upgrades and the pressure to maintain a strong market position can be a significant burden for manufacturers.
4 Global Nanocrystalline Soft Magnetic Materials Market Size and Share by Type in 2024
The 14~18μm thickness category is one of the most significant segments in the NSMM market. In 2024, this segment is expected to generate a revenue of 211.85 million USD. This type of NSMM is characterized by its ultra-thin structure, which offers high saturation magnetic flux density and low core loss. These properties make it ideal for high-frequency applications such as transformers and inductors in power electronics. The ultra-thin ribbons are particularly useful in reducing the size and weight of electronic devices while maintaining high efficiency.
The 18~22μm thickness segment is another crucial part of the NSMM market, with a projected revenue of 125.35 million USD in 2024. This type of material is known for its balance between mechanical strength and magnetic properties. It is widely used in applications that require moderate frequency performance and robustness, such as renewable energy systems and electric power applications. The 18~22μm thickness materials are particularly effective in improving the efficiency of power conversion systems.
The 22~26μm thickness segment is expected to contribute 24.13 million USD to the NSMM market revenue in 2024. This type of material is thicker compared to the other segments and is often used in applications that require higher mechanical strength and durability. It is commonly found in industrial power systems and aerospace applications where reliability and robustness are critical. The 22~26μm thickness materials are also used in high-power transformers and inductors due to their ability to handle higher currents.
Table Global Nanocrystalline Soft Magnetic Materials Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
14~18μm Thickness | 211.85 | 57.06% |
18~22μm Thickness | 125.35 | 33.76% |
22~26μm Thickness | 24.13 | 6.50% |
Others | 9.95 | 2.68% |
5 Global Nanocrystalline Soft Magnetic Materials Market Size and Share by Application in 2024
Consumer electronics is one of the largest segments in the NSMM market, with a projected revenue of 96.87 million USD in 2024. This segment includes applications such as high-frequency transformers, common mode chokes, and precision current transformers. The use of NSMM in these applications is driven by the need for smaller, lighter, and more efficient electronic devices. The high saturation magnetic flux density and low core loss of NSMM make them ideal for consumer electronics, enabling the development of high-frequency, miniaturized, and lightweight devices.
The renewable energy segment is expected to generate a revenue of 51.53 million USD in 2024. This includes applications such as solar photovoltaic inverters and wind energy systems. NSMM are crucial in these applications due to their ability to improve the efficiency and performance of renewable energy systems. The high permeability and low loss characteristics of NSMM make them ideal for use in inverters and transformers, contributing to the overall efficiency of renewable energy systems.
The electric power segment is another significant contributor to the NSMM market, with a projected revenue of 194.33 million USD in 2024. This includes applications such as high-frequency switching power supplies, inverter welder power supplies, and communication power supplies. The high saturation magnetic inductance and low high-frequency loss of NSMM make them the preferred choice for these applications. The increasing demand for efficient power conversion systems drives the use of NSMM in electric power applications.
The aerospace segment is expected to contribute 10.21 million USD to the NSMM market revenue in 2024. This includes applications such as precision current transformers and magnetic amplifiers. The high reliability and performance of NSMM make them suitable for aerospace applications where precision and durability are critical. The use of NSMM in aerospace applications is driven by the need for lightweight and efficient magnetic components.
The medical segment is projected to generate a revenue of 18.34 million USD in 2024. This includes applications such as magnetic shielding sheets and precision current transformers. The high permeability and low loss characteristics of NSMM make them ideal for medical applications where precision and reliability are essential. The increasing demand for advanced medical equipment drives the use of NSMM in this segment.
Table Global Nanocrystalline Soft Magnetic Materials Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
Consumer Electronics | 96.87 | 26.09% |
Renewable Energy | 51.53 | 13.88% |
Electric Power | 194.33 | 52.34% |
Aerospace | 10.21 | 2.75% |
Medical | 18.34 | 4.94% |
6 Global Nanocrystalline Soft Magnetic Materials Market Size by Region in 2024
North America is a significant region in the NSMM market, with a projected revenue of 84.63 million USD in 2024. The market in this region is driven by the demand for high-performance magnetic materials in industries such as consumer electronics, renewable energy, and aerospace. The presence of major players and advanced technological infrastructure supports the growth of the NSMM market in North America.
Europe is another key region in the NSMM market, with a projected revenue of 89 million USD in 2024. The market in Europe is characterized by strong demand from the renewable energy and electric power sectors. The region’s commitment to sustainable energy solutions and advanced technological advancements drive the growth of the NSMM market. Additionally, the presence of major manufacturers and research institutions supports the development and application of NSMM in Europe.
The Asia-Pacific region is the largest and fastest-growing segment in the NSMM market, with a projected revenue of 168.17 million USD in 2024. The market in this region is driven by the increasing demand from industries such as consumer electronics, renewable energy, and electric vehicles. The region’s rapid industrialization and technological advancements contribute to the growth of the NSMM market. Additionally, the presence of major manufacturers and the increasing adoption of NSMM in various applications drive the market’s expansion.
Figure Global Nanocrystalline Soft Magnetic Materials Market Share by Region in 2024
7 Major Players in Global Nanocrystalline Soft Magnetic Materials Market
7.1 Hitachi Metal
Company Profile:
Hitachi Metal, Ltd. is a leading Japanese company established in 1956. It operates through four main segments: High-Grade Metal Products and Materials, Magnetic Materials and Applications, High-Grade Functional Components and Equipment, and Wires, Cables and Related Products. The company’s headquarters are located in Tokyo, Japan, with manufacturing bases in Asia and the USA. Hitachi Metal is renowned for its innovation and high-quality products, serving industries such as infrastructure, automobiles, and electronics.
Business Overview:
Hitachi Metal is a global leader in the development and production of advanced magnetic materials. The company’s Magnetic Materials and Applications segment focuses on producing magnets, soft ferrite, and other soft magnetic materials. Hitachi Metal’s flagship product, FINEMET®, is a nanocrystalline soft magnetic material known for its high saturation flux density, high permeability, and low core loss. These properties make FINEMET® ideal for applications in power electronics, renewable energy, and consumer electronics.
Product Offered:
Hitachi Metal offers a range of nanocrystalline soft magnetic materials, including the FINEMET® series. These materials are used in various applications such as high-frequency transformers, common mode chokes, and precision current transformers. The company’s products are characterized by their excellent soft-magnetic properties, making them suitable for high-frequency and low core loss applications.
Recent Financial Data:
In the fiscal year 2022, Hitachi Metal’s revenue from nanocrystalline soft magnetic materials was 134.45 million USD. The company achieved a gross margin of 32.12%.
7.2 Advanced Technology
Company Profile:
Advanced Technology & Materials Co., Ltd. (AT&M) is a leading Chinese high-tech enterprise established in 1998. The company is headquartered in Beijing, China, and operates primarily in Asia. AT&M is known for its expertise in metallic materials and services for emerging industries. The company went public on the Shenzhen Stock Exchange in May 2000, further solidifying its position in the industry.
Business Overview:
Advanced Technology specializes in the production of advanced metallic materials, including nanocrystalline ribbons and magnetic components. The company’s products are used in various applications such as electrical power, renewable energy, consumer electronics, and wireless charging. AT&M’s focus on innovation and quality has enabled it to establish a strong presence in the domestic and international markets.
Product Offered:
Advanced Technology offers a range of nanocrystalline soft magnetic materials, including Antainano® ribbons. These ribbons are available in thicknesses from 14 µm to 26 µm and widths from 2 mm to 80 mm. The company’s products are characterized by their high saturation flux density, low core loss, and excellent temperature stability, making them suitable for high-frequency power electronics.
Recent Financial Data:
In 2022, Advanced Technology’s revenue from nanocrystalline soft magnetic materials was 31.10 million USD. The company achieved a gross margin of 27.88%.
7.3 VACUUMSCHMELZE
Company Profile:
VACUUMSCHMELZE (VAC) is a leading global producer of advanced magnetic materials, established in 1923. The company is headquartered in Hanau, Germany, with manufacturing bases in Germany, Slovakia, and Finland. VAC operates primarily in Asia, Europe, and the Americas. The company is known for its extensive experience in material science and product development, offering a wide range of magnetic materials and solutions.
Business Overview:
VACUUMSCHMELZE specializes in the production of nanocrystalline soft magnetic materials, rare earth permanent magnets, and inductive components. The company’s products are used in various industries, including renewable energy, e-mobility, automotive, industrial automation, medical, aerospace, and defense. VAC’s ability to develop and manufacture from base elements through final products enables it to provide optimal solutions for its customers.
Product Offered:
VACUUMSCHMELZE offers a range of nanocrystalline soft magnetic materials, including the VITROPERM series. These materials are available as ribbons in thicknesses from 14 µm to 20 µm and widths from 2 mm to 66 mm. The company’s products are characterized by their high saturation flux density, low core loss, and excellent thermal stability, making them suitable for high-frequency applications.
Recent Financial Data:
In 2022, VACUUMSCHMELZE’s revenue from nanocrystalline soft magnetic materials was 20.23 million USD. The company achieved a gross margin of 31.45%.