#softmagneticmaterialsmarket
The market is expected to grow at a considerable CAGR on a global scale over the forecast period. Key drivers for this market are the rise in demand for soft magnetic materials from the automotive industry, disruptive innovations that have led to new product launches, prolific use of sintered soft magnetic materials for electrical motors, transformers, and alternators, and rapid up-gradation of infrastructure. Burgeoning demand in developing countries will open new avenues for this market over the forecast horizon. Extensive R&D in this field is spurring market growth.
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