South Korea Amorphous Soft Magnetic Materials Market Outlook

the south korean amorphous soft magnetic materials market is envisioned to endure a strong period of growth throughout the projected period of 2018 to 2032. this growth is expected to be primarily driven by factors such as increasing demand from the medical and automotive industries in the country, manifold usage of soft magnetic materials for high-efficiency and low-profile electronic induction devices, and widespread advancement observed in power transmission technology. the variety of soft magnetic materials used in the south korean market includes ferromagnetic amorphous metals, alloy ribbons, soft magnetic ferrites, and ceramic composites. soft magnetic materials have high levels of saturation flux and low core losses that make them highly suitable for use in electric motors, transformers, and inductors, due to the fact that they reduce the amount of energy loss by creating a stronger magnetic field. the automobile industry is one of the largest users of amorphous soft magnetic materials in south korea, as the materials are used to boost the performance of electric cars and hybrid vehicles. south korean automakers are known to heavily invest in electric and hybrid vehicle technologies, and with their popularity increasing, the demand for soft magnetic materials will continue to rise. in addition, high levels of technological advancement in recent years have enabled automakers to reduce the size of inductive components without compromising their power, creating further demand for these materials. the medical industry is expected to emerge as another key area of demand for soft magnetic materials, as medical implants such as pacemakers, defibrillators, and magnetically controlled prostheses require materials that possess low core losses and adequate permeability. moreover, due to the incorporation of advanced soft magnetic materials into magnetic resonance imaging systems, their usage in this area is expected to significantly increase in the foreseeable future. all in all, the outlook for south korea’s amorphous soft magnetic materials market over the period of 2018 to 2032 is expected to remain positive, primarily on the back of the wide number of applications across various industries.