The soft magnetic composites (SMCs) market, valued at US$ 4.5 billion in 2023, is projected to reach US$ 8.9 billion by 2033, growing at a CAGR of 7% over the forecast period.



The rising demand for motors in the automotive and electric sectors is a key driver of SMC usage, with soft magnetic composites currently accounting for 60% of the global motor market.



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