Brazil Amorphous Soft Magnetic Materials Market Report and Forecast 2024-2032

Brazil Amorphous Soft Magnetic Materials Market Size

The Brazil amorphous soft magnetic materials market is projected to grow at a CAGR of 5.6% between 2024 and 2032, aided by the increasing applications of amorphous soft magnetic materials across various sectors.

Brazil Amorphous Soft Magnetic Materials Market Outlook

• The anticipated increase in imports of PET systems (with a 1% penetration rate) is expected to favour the market growth.

• The growth of robotic surgery systems (with a 1% penetration rate) in Brazil is expected to drive market expansion.

• In April 2024, EV sales constituted 4.7% of all vehicle sales in Brazil, thereby surging the demand for advanced sensors.

Brazil Amorphous Soft Magnetic Materials Market Growth

As per the Brazilian Medical Devices Manufacturers Association (ABIMO), the production of medical devices reached BRL 17.9 billion in 2021 from BRL 13.2 billion in 2020, recording a year-on-year growth of 36%. 63% of all Brazilian hospitals (7,488) are private and the penetration rate of basic equipment is relatively higher than that of specialised equipment. This includes electrocardiographs (86%), ultrasound machines (78%), patient monitoring systems (71%), anaesthesia machines (63%), CT scanners (37%), angiograms (12%), radiotherapy machines (2%), and mammography systems (27%). This is expected to increase the demand for amorphous soft magnetic materials that protect sensitive components of these machines from interference caused by external magnetic fields, thereby driving the market growth.

During 2019-2022, Brazil’s GDP grew at an average of 1.5% annually. Since 2022, domestic solar energy production has surged by 1GW per month, making Brazil the sixth-largest producer globally. This has accelerated the demand for solar power inverters to provide electricity to remote regions of Brazil. This is expected to drive the market growth, as amorphous soft magnetic materials play a critical role in improving the performance and energy efficiency of transformers and inductors. Their low coercivity and high magnetic permeability prevent core losses, which reduces heat generation and enhances the durability of the inverter.

Brazil Amorphous Soft Magnetic Materials Industry Segmentation

Brazil Amorphous Soft Magnetic Materials Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Cobalt- Based

• Fe-Ni-Based

• Iron- Based

• Others

Market Breakup by Application

• Electronic Article Surveillance

• Flexible Antenna

• Magnetic Sensors

• Magnetic Shieldings

• Transformers

• Others

Market Breakup by Region

• São Paulo

• Minas Gerais

• Rio de Janeiro

• Bahia

• Rio Grande do Sul

Brazil Amorphous Soft Magnetic Materials Market Share

Based on region, the market is segmented into São Paulo, Minas Gerais, Rio de Janeiro, Bahia, and Rio Grande do Sul. Over the forecast period of 2024-2032, Minas Gerais is expected to grow at a CAGR of 8.5% due to the increasing demand for flexible antennas and magnetic sensors.

Leading Companies in the Brazil Amorphous Soft Magnetic Materials Market

The production of amorphous soft magnetic materials is expected to be driven by the increasing demand for energy-efficient inverters and the rising demand for high-tech EVs which provide a comfortable driving experience.

• VACUUMSCHMELZE GmbH & Co. KG

• Proterial, Ltd.

• Others

Key Highlights of the Report