The global Soft Magnetic Materials market is forecasted to grow at a rate of 7.8% in terms of value, from 2020 to reach USD 44.91 billion by 2027. The magnet is a piece of iron or some other substance that has its component atoms structured in such a way that the article shows magnetism properties, such as attracting objects made of metal or aligning itself with an external magnetic field.
Source: https://www.reportsanddata.com/report-detail/soft-magnetic-materials-market