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ALBANY, N.Y. , May 12, 2022 /PRNewswire/ -- Analysts at TMR project the soft magnetic composites market to expand at a CAGR of 7.2% between 2021 and 2031. The increasing demand for high performance industrial motors in economically valuable end-use industries such as automotive and manufacturing is driving the soft magnetic composites market.
The consistent rise in demand for soft magnetic composites in the manufacture of mechanical and electromagnetic equipment for industrial and commercial use such as traction motors, pumps, air conditioning compressors, high output industrial motors, and DC/DC converters, among others, fuels the growth of the soft magnetic composites market.
The Asia Pacific soft magnetic composites market is expected to expand at a CAGR of more than 7.6% over the forecast period from 2021 to 2031. Significant demand for soft magnetic composites for various applications such as high performance industrial motors that are intrinsic to industrial units fuels the growth of the soft magnetic composites market in the region.
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Soft Magnetic Composites Market – Key Findings of Report
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Soft Magnetic Composites Market – Growth Drivers
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Soft Magnetic Composites Market – Key Players
Some of the prominent players in the soft magnetic composites market are;
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The soft magnetic composites market is segmented as follows;
Soft Magnetic Composites Market, by Material
Soft Magnetic Composites Market, by Application
Soft Magnetic Composites Market, by End-use
Soft Magnetic Composites Market, by Region
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