Soft Magnetic Composites Market 2022 Development Status, Competition Analysis, Type and Application by 2029

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Newstrail

Soft magnetic composites (SMCs) are used extensively in the automotive industry for their ferromagnetic properties. Majorly driven by this, global soft magnetic composites market is projected to exhibit a robust CAGR during the forecast period of 2022-2029, reaching a value of US$ 80 Bn in 2029. Correct SMC combination provides a technology that consumes less energy, is optimally efficient, and capable of use in extreme frequencies and temperatures. High demand is witnessed from the automotive industry for electronic components such as motors, inductors, and other electronic machines that enha…

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