Soft Ferrite Market Trends

Growth Drivers

• Major Growth in Electronic Sector- The soft ferrite market is projected to rely heavily on the attributes of elevated electrical resistance and excellent magnetic properties. With large-scale utilization of numerous equipment, the consumer electronics sector retains the worldwide industry thriving. From 1.3% in 2012, India's revenue share in the worldwide electronics manufacturing sector climbed to 3.6% in 2020.

• Increase in the Automotive Electronics field- The utilization of soft ferrite in automotive electronics is propelling the soft ferrite industry to the next level. There are around 306 automobile and engine production centers in Europe that build passenger vehicles, light commercial vehicles, heavy-duty cars, buses, and engines.
• Increasing Investments in the Power Distribution Industry- Annual global power distribution investment was expected to reach USD 1.9 trillion in 2021, up roughly 10% from 2020 and adding overall investment back to its pre-crisis state.
• Rising Applications in Aerospace & Defense Sectors- According to the Boeing Commercial Outlook 2022-2041, total new jet deliveries globally are estimated to exceed 41,170 by 2041. For the first time, global defense spending reached over USD 2 trillion in 2021. Global investment in 2021 was 0.7% greater than in 2020. 
• Growing Demand for Telecommunication Services- Total telecom investment in 2020 was expected to be over USD 1500 billion globally.

Challenges

• Fluctuating Prices of Raw Materials

• Complexities in The Structure of Soft Ferrite- The complexity of minimizing eddy current losses is the key difficulty faced by most producers in the marketplace, leading to declining market share during the projection period.

• Some Characteristics such as Minimal saturation magnetic flux density, reduced Curie point, and poor mechanical qualities