Vietnam Soft Magnetic Materials Market Size Set to Reach USD 398 Million by 2031

Published | 20 August 2025

Vietnam Soft Magnetic Materials Market is booming primarily due to rapid EV adoption, electronics growth, renewable energy expansion, smart grid development, energy efficiency demand, industrial automation, and advanced magnetic material innovations.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Soft Magnetic Materials Market size by value at USD 223.27 million in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Vietnam Soft Magnetic Materials Market size to boom at a robust CAGR of 8.60%, reaching a value of USD 397.77 million by 2031. The growth of Vietnam Soft Magnetic Materials Market is propelled by rising demand in electronics, automotive, and energy sectors. The surge in electric vehicle adoption, the expansion of renewable energy projects, and the growth in consumer electronics are key contributors. Industrial automation and smart grid development further boost material usage. Technological advancements in magnetic alloys—offering higher saturation magnetization and lower core losses—enhance efficiency and performance. Vietnam’s integration into global supply chains and its expanding manufacturing base also support market growth. Additionally, the push for energy-efficient systems and miniaturization in devices drives innovation and demand across industries.

Opportunity – Surging Demand for Energy-Efficient Devices

Vietnam Soft Magnetic Materials Market is experiencing robust growth, due to the rising demand for energy-efficient devices across industries. As manufacturers prioritize sustainability and reduced power consumption, soft magnetic materials—known for low coercivity and minimal energy loss—are increasingly used in transformers, inductors, and electric motors. The push for smart appliances, renewable energy systems, and electric vehicles further amplifies this trend. Vietnam’s expanding electronics and automotive sectors, coupled with government initiatives promoting energy efficiency, are accelerating adoption. This surge reflects a broader global shift toward eco-friendly technologies, positioning Vietnam as a key player in the energy-efficient materials landscape.

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Electric Motors Segment Leads Vietnam Soft Magnetic Materials Market ​

The electric motors segment accounts for the largest market share of Vietnam Soft Magnetic Materials Market. The rapid adoption of electric vehicles (EVs), industrial automation, and energy-efficient appliances drives the segment’s market dominance. Soft magnetic materials are vital in motor cores due to their low energy loss and high magnetic permeability, making them ideal for high-performance applications. Vietnam’s expanding manufacturing base and increasing demand for sustainable technologies further reinforce electric motors as the leading application segment in this market.

Impact of Escalating Geopolitical Tensions on Vietnam Soft Magnetic Materials Market 

Escalating geopolitical tensions, especially United States-China trade disputes, are reshaping global supply chains, indirectly affecting Vietnam Soft Magnetic Materials Market. While disruptions pose risks to raw material sourcing and export stability, Vietnam benefits from increased foreign investment and manufacturing shifts away from China. Its strategic location and favorable trade policies attract electronics and automotive firms, boosting demand for soft magnetic components. However, heightened tariffs and global uncertainty may challenge long-term growth and supply chain resilience.

Competitive Landscape

Vietnam Soft Magnetic Materials Market is highly fragmented, with numerous players serving the market. Major companies dominating the market are Hitachi Metals, Ltd, VACUUMSCHMELZE GmbH & Co. KG, Toshiba Materials Co., Ltd, Daido Steel Co., Ltd, Arnold Magnetic Technologies, GKN Powder Metallurgy, Mate Co., Ltd, Mahindra CIE Automotive Ltd, Sumitomo Metal Mining Co., Ltd, JFE Steel Corporation, and POSCO. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Vietnam Soft Magnetic Materials Market.

Don’t miss the business opportunity in Vietnam Soft Magnetic Materials Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Vietnam Soft Magnetic Materials Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Soft Magnetic Materials Market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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