Ferrite Core Transformer Market Size, Share, Growth, and Industry Analysis by Type (Manganese-Zinc, Nickel-Zinc, Magnesium-Zinc, and Other) By Application (Consumer Electronic, Communication, Household Appliances, Automotive, and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Ferrite Core Transformer Market Report Overview

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The global ferrite core transformer market size was USD 2055.3 million in 2022 and market is projected to touch USD 3501.95 million by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% during the forecast period.

A transformer is one of the most important components of an electrical circuit. While transformers come in many types, their main purpose remains the same - to increase or decrease voltage and current. Various types of cores are used in these electrical devices, such as iron cores, ferrite cores, etc. One of the most popular types of transformers is the ferrite core transformer. Transformers with ferrite cores have ferrite magnetic cores. In turn, the transformer windings enclose this core. These transformers have high magnetic permeability, making them suitable for a wide range of applications. Non-conductive ceramic compounds with ferromagnetic properties are ferrites. Ferrite type transformers have windings made of ferrites.  In transformers, ferrite cores are made from iron oxide combined with zinc, nickel, and manganese compounds. Soft ferrites are compounds with very low coercivity.

The mechanical and electrical properties of ferrites make them superior to other magnetic core transformers. The characteristics include high current resistivity, low eddy current losses over a wide frequency range, and high permeability. Due to these properties, ferrite transformers are ideal for high-frequency transformers, adjustable inductors, wide-band transformers, and high-frequency circuits from 10 KHz to 50 MHz. Ferrite core transformers offer a range of benefits that make them ideal for various electrical applications, including high magnetic permeability, low electrical conductivity, and higher coercivity. Ferrite core transformers are used in household appliances, communication, and a variety of other fields, which drives the market growth. Despite their many benefits, ferrites have a low saturation magnetic flux which hampers their market growth. Transformers with Ferrite Cores are efficient and deliver excellent performance under a variety of circumstances.

COVID-19 Impact: Halt on Semiconductors and Electronics to Hamper Market 

As a result of COVID-19, the ferrite core transformer market growth has also been drastically affected. It was inevitable that the global outbreak of COVID-19, the illness caused by the novel Coronavirus, would cause stress to the supply chain. As a result of the pandemic, previously unrecognized risks have emerged, leading to potential shortages of critical parts and components. The imposition of the lockdown by the government and the further shutdown of industries and manufacturing units also affected the market. But the ease of lockdown during the post-covid period is expected to have a positive impact on the market.  As a result of COVID-19, a number of nations have allowed companies and manufacturing units to operate, which will aid the ferrite market in recovering lost ground.

Latest Trends

"Features of Ferrites in the Transformers to Drive Market Growth"

Transformers with ferrite cores are usually more in demand than those with other materials because they provide several benefits of ferrite itself. A ferrite is a ceramic material made from manganese and zinc compounds. In transformers, they act as insulators and offer high current resistance. Ferrites also have low eddy current losses and high permeability, making them ideal for high-frequency ferrite core transformers and adjustable inductors.

Ferrite Core Transformer Market Segmentations

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• By Type

The market is classified into manganese-zinc, nickel-zinc, magnesium-zinc, and others based on type. The manganese-zinc segment will lead the ferrite core transformer market share throughout the forecast period.

• By Application

The market is classified into consumer electronic, communication, household appliances, automotive, and others based on application. The consumer electronic segment will lead the ferrite core transformer market share throughout the forecast period.

Driving Factors

"Usage of Ferrite Cores in Household Appliances to Drive the Market"

In household appliances like televisions and refrigerators, ferrites are widely used. Television sets use ferrite cores more often because they reduce electromagnetic interference (EMI) noise, which interferes with other electrical circuits and disturbs signals during transmission.  Thus, the usage of this device in household appliances is a major driving factor for the market.

"Increasing Demand of Communication Devices to Drive the Market"

Among the many applications of ferrite cores, communication is one of the most common. Signal-to-noise ratio (SNR) and electromagnetic interference (EMI) can be improved using ferrite cores. Thus, ferrite cores ensure that communications signals are not corrupted by noise and can be received clearly. In systems that rely on accurate communication, such as telecommunications systems and networks, they are vital components. The usage of ferrite core transformer in communication devices thereby drives the market growth due to the increasing demand of the same.

Restraining Factors

"Lower Saturation Magnetic Flux Density of MnZn to Restrain the Market"

The saturation magnetic flux density of Manganese-Zinc ferrites is lower than those in metallic soft materials. A larger volume of ferrite core is needed to produce the same magnetic flux as a metallic core. Thus, this lower saturation magnetic flux density of MnZn is a major restraining factor of the ferrite core transformer market growth.

Ferrite Core Transformer Market Regional Insights

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"Asia Pacific to Dominate the Market Owing to the High Consumption of Ferrites"

Globally, Asia Pacific dominates the ferrite core transformer market. Due to the high consumption of ferrite across various industries in the region, the Asia Pacific region offers opportunities for growth in the global market for ferrite. Throughout the forecast period, emerging economies in the region, such as China and India, are expected to drive high demand for ferrite core transformers, owing to their rapid industrialization and manufacturing hubs. Additionally, the high number of market players in this area also contributes to its growth.

After the Asia Pacific, North America holds the second largest share of the market owing to a large number of manufacturers, strong economic growth, high disposable income, advanced technology infrastructure, and increasing demand from various industries, including automotive and energy. As a result of their performance characteristics, ferrite core transformers have many applications in these sectors.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage " 

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Murata (Japan)
• TDK (Japan)
• Taiyo Yuden (Japan)
• Chilishin (China)
• Sunlord (China)
• Sumida (Japan)
• Vishay (U.S.)
• Samsung Electro-Mechanics (South Korea)
• AVX (U.S.)
• Coilcraft (U.S.)
• DELTA(CYNTEC) (China)
• EATON (Ireland)
• Pulse (U.S.)
• Payton (Israel)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.