Soft Ferrite Market Size

Soft Ferrite Market size was valued at USD 2.13 Billion in 2023 and is poised to cross USD 4.77 Billion by the end of 2036, registering more than 6.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of soft ferrite is estimated at USD 2.25 Billion. The growth of the market can be attributed to the widespread adoption of soft ferrite across multiple fields the primary factors impacting the development of the soft ferrite market throughout the forecast period. Transmission transformers, portable transformers, distribution transformers, 1 HP-100 HP motors, 101 HP-200 HP motors, 201 HP-500 HP motors, 501 HP-1000 HP motors, Inductors, and generators are some of the primary sectors where the soft ferrite industry is frequently employed.

Soft ferrite is a ceramic substance with moderate coercive strength. This characteristic aids in the modification of their magnetization, allowing them to function as magnetic field conductors. This attribute allows soft ferrite to spread smoothly for usage in a variety of applications throughout the electronics industry. Also, With the growing demand from the chemical sector, the market is expected to grow in the future. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018.