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Manganese-zinc ferrite growth in the soft ferrite market exceeds 400 BPS
In its latest report, Fact.MR provides a broad strategic framework for the global soft ferrite market. It reveals many aspects of the market, such as driving factors, constraints, opportunities, industry development, and so on. It also provides detailed information on leading market segments in terms of product types, applications and regions.
New York, December 10, 2021/PRNewswire/-Fact.MR predicts that during the forecast period from 2020 to 2030, the global soft ferrite market is expected to grow at a compound annual growth rate of 6%. It is expected that in the near future, the increasing demand for transformers and generators will promote the development of the global soft ferrite market.
Soft ferrite is a kind of ceramic material, which generates magnetic material by the reaction of metal oxide. It can be easily demagnetized and magnetized. It can also transmit or store magnetic energy in the form of alternating waves.
Soft ferrite is widely used in the electronics industry due to its low coercivity. These are considered good conductors of magnetic fields. The rapid expansion of the consumer electronics industry is expected to boost the soft ferrite market during the forecast period.
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For example, according to the Indian Brand Equity Foundation (IBEF), in the third quarter of fiscal year 21, sales of consumer electronics products in India soared by 23.5%. The organization further stated that sales of smartphones, refrigerators and TVs increased by 15% in October 2021.
"The research and development activities of major players exploring new applications of soft ferrites are expected to drive the market in the near future. In addition, more and more power industry projects will also drive growth," Fact.MR analysts said.
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Major players in the soft ferrite market are adopting various strategies, such as partnerships, joint ventures and acquisitions, to strengthen their positions. At the same time, some other players in the market are focusing on strengthening their distribution network and launching new products.
The main players in the soft ferrite market include:
More valuable insights on the soft ferrite market
Fact.MR provides a fair analysis of the soft ferrite market, historical demand data (2015-2019) and forecast statistics for the period 2020-2030. The research revealed deep insights into the global soft ferrite market and detailed breakdowns based on the following:
Key issues covered in the soft ferrite market report
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Arc ferrite magnet market scope-in the short term, the demand for arc ferrite magnets will rebound strongly, and the long-term prospects are good. Due to weak application demand for electro-acoustic products, short-term opportunities are limited, but sales in the defense field will provide much-needed energy. Its excellent corrosion resistance, high resistance to demagnetization, and relatively low price have promoted market demand. Due to its ability to cover a wide surface area, this material is also used for many purposes.
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