Magnetics Business & Technology - Summer 2015 - (Page 26)

INDUSTRY NEWS Global Market for Soft Magnetic Materials Estimated to Reach $66.6 Billion by 2019 Soft magnetic materials play a fundamental role in many of the electrical and electronic systems that characterize modern society. These materials are used in applications such as electrical power generation and transmission, electric motors, receipt of radio signals and microwaves, relays, solenoids, magnetic shielding and electromagnets. The properties of the materials used are being continuously improved. Soft magnetic materials exhibit magnetic properties only when they are subject to a magnetizing force such as the magnetic field created when current is passed through the wire surrounding a soft magnetic core. Soft ferromagnetic materials are generally associated with electrical circuits where they are used to amplify the flux generated by the electric currents. These materials can be used in alternating current (AC) as well as direct current (DC) electrical circuits. According to the iRAP report Soft Magnetic Materials - Technologies, Materials, Devices, New Developments, Industry Structure and Global Markets, the 2014 global market for soft magnetic materials stood at about $45.4 billion, and it is estimated to reach $66.6 billion by 2019. The compounded annual growth rate (CAGR) is expected to be 7.9 percent from 2014 to 2019. The global soft magnetic material industry is a mature industry. However, a new energy paradigm, consisting of greater reliance on renewable energy sources and increased concern for energy efficiency in the total energy life-cycle, has accelerated research into energy-related technologies. New improved materials with higher energy efficiency have been demonstrated for amorphous and nanocrystalline soft magnetic materials. While amorphous steel has been used extensively as the core material for transformers and motors, the emerging nanocrystalline core material has even higher efficiency and will see much higher growth in the future. The steel segment, which consists of electrical steel, cold-rolled lamination steel, and amorphous steel, has the largest market share followed ceramic soft ferrite. In terms of growth rates in dollar values, amorphous steel is expected to have the fastest growth rate followed by soft ferrites and other steels. In terms of regional demand, Asia's demand for electrical steel has increased astronomically. It is the only region in the world that increased consumption of electrical steel from 2008 and will see growth to 2019. Electrical steel is of great importance in China and India due to in creasing energy consumption, concomitant with their strong economic growth. Not only are China and India putting new transfor sses. In terms of industry structure, China now is the largest soft magnetic materials producer in the world due to its low cost, highly trained labor force and vast raw materials. Global Market for Power and Distribution Transformers to Reach $64 Billion by 2019 Transformers are a vital link to the entire supply chain for electric power, from generation to transmission to distribution networks. According to a new report published by iRAP Inc., "Power and Distribution Transformers - Technologies, Materials, Applications, New Developments, Industry Structure and Global Markets" the global market reached to about $42 billion in 2014, and it is estimated to increase to $64 billion by 2019 at a CAGR of 8.8 percent per year from 2014 to 2019. China has the largest market share followed by the US, Europe, India and Japan. 26 Magnetics Business & Technology * Summer 2015 In the last decade, several new developments have taken place in the power and distribution transformers industry. As the original domestic, country-based networks have been built out and matured, markets have opened up and been deregulated in the western world to promote competition and efficient interconnections and creation of regional networks and markets. This evolution led to a change in the relationship between transformer manufacturers and buyers, from a local to a more global perspective, with a greater focus on economics on both sides. As a result, manufacturers also had to become more global, leading to consolidation and concentration of the industry. Key drivers for future transformer market development include an increase in electricity demand in developing countries, replacement of old electric power equipment in matured economies, and a boost for high-voltage power transformers and capital expenditure in the power sector worldwide. In addition, the adoption of energy-efficiency standards in developed markets such as Europe and the US, as well as in emerging markets such as China and India, are expected to create demand for new, more efficient electricity equipment, including power transformers. Also, new efficient transformer designs using amorphous magnetic materials for cores will become increasingly preferred because they can cut down iron losses and noise and demonstrate longer functional life. Utilities are demanding compliance to higher efficiency requirements in distribution transformers. Manufacturers have responded by tailoring their products to the energy evaluation factors specified by customers, so that it is now possible to purchase a high-cost, high-efficiency transformer or a unit with a lower first cost and lesser efficiency. Magnetic Flowmeter Market Worth $1.9 Million By 2020 According to a new market research report "Magnetic Flowmeter Market by Type (In-Line, Insertion, Low Flow), Component (Flow Tube, Sensing Electrodes), Application (Water & Wastewater, Food & Beverages, Chemicals, Pulp & Paper), and Geography - Global Trends & Forecasts from 2014 to 2020" the total market was valued at a market size of $1,395.38 in 2013 and is expected to reach 1,916.94 million by 2020, at an estimated CAGR of 4.58 percent from 2014 to 2020. The magnetic flowmeters help in the detection of flaws and impurities in accordance with certain standard norms. This market, at present, is witnessing a spree of mergers, partnerships, and acquisitions among the market players, which is resulting in a wide range of challenges and opportunities. The various types of the magnetic flowmeters are the in-line, insertion and low flow magnetic flowmeters. Whereas the applications of the magnetic flowmeters are water & wastewater, oil & gas, food & beverages, chemicals, energy generation, metals & mining, pulp & paper, pharmaceuticals, and so on. The report covers geographic regions which include North America, Europe, Asia-Pacific and the Rest of the World (RoW). APAC is the largest geography in terms of market size for the magnetic flowmeter market. North America, Europe, and RoW are also considered to be the promising markets, along with the US, Mexico, Germany and the Middle East, which provide impetus to the growth. The report profiles the promising major players with SWOT analysis of these key players in the magnetic flowmeter market. The competitive landscape of the market presents an interesting picture, where a large number of small players have become a force to calculate with. The market is witnessing a series of www.MagneticsMagazine.com http://www.MagneticsMagazine.com

Table of Contents for the Digital Edition of Magnetics Business & Technology - Summer 2015

Editor's Choice
Bonded Magnets: A Versitile Class of Permanent Magnets
Spintronics on Paper: The Whys and Wherefores
Magnets, Materials & Assemblies
Electromagnetics
Software & Design
Research & Development
Industry News
Marketplace / Advertising Index
Spontaneous Thoughts: The Rate Determining Step

Magnetics Business & Technology - Summer 2015