Is Consumer Electronics Recovery Strong Enough to Boost Nano Crystalline Soft Magnetic Material Demand
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NEW YORK, March 2, 2021 /PRNewswire/ Nano crystalline soft magnetic material demand grew at an average of 7.5% CAGR between 2016-2020, and latest research by consulting firm Fact.MR projects sales to expand at 9.5% CAGR through 2031. Recovery in consumer electronics and anticipated opportunities in electric vehicles (EVs) are set to drive growth in 2021 and beyond.
Fact.MR s new study tracks nano crystalline soft magnetic material sales in 20+ high-growth markets, covering sales across key segments and countries.
According to the European Commission Report, the applications of nano crystalline soft magnetic materials in electronic industry has surged owing to its attributes. A recovery in consumer electronics industry will be key to growth in 2021, according to the study.