Table of Contents
Types of cores
Transformers are basically static machines that are responsible for stepping up / down the voltage level in the power industry. They are one of the key components of any power system and account for 40-50 % of capital expenditure in the industry. With the growing per capita consumption of power (expected CAGR of a whooping 8% in developing nations), there will surely be a boom in transformer manufacturing and its related service sector also. Ferrites find application in the manufacturing of cores of the transformer because of their electrical properties like offering higher resistance to eddy currents (induced current in core). There is a direct proportionality between the growth of the ferrite manufacturing sector to the growth of the power sector.
Manganese zinc ferrite (Mn(x)Zn(1-x).Fe2o4)
They are characterized by higher saturation levels and permeability levels. These are suitable for using lower frequency spectrums less than 2Mhz and manufacturing of inductors up to 50 MHz
Nickel zinc ferrite(Ni(x)Zn(1-x).Fe2o4)
They found applications in 2MHz to several hundred hertz. They are characterized by higher sensitivity and lower Tc (Curie temperature)
Cores are also classified on the basis of shapes like EI cores find application power transformers, converters, investors, etc. ETD type finds application in inductors and power transformers and is easily optimizable. EFD types are best to use in the making of size-optimized devices. And EER types are used to make shorter winding paths as they offer round center posts.
Another classification is based on magnetic characteristics:
These are active only under the application of electric field and can be used in switching applications e.g., in electrical vehicles. They behave almost like a temporary magnets.
They are permanent magnets e.g., Strontium ferrites that are used in internal combustion engines.
Broadly used in electrical appliances, automotive, communication systems, power supply circuits, microwave devices, aircraft, etc. Let us have a look at annual production per year geographically. Western Europe witnessed a steady share of 15% from 1980 to 2010. Eastern Europe has shown decreasing trend with a current share of 10 %. Thus, Europe accounts for 25% of Global production with Japan as the market leader accounting for 32% of global production followed by the USA at 20% and Korea at 15%. An interesting fact is that developing nations like China and India have shown an increasing trend in production pertaining to their booming power and electronic sector.
Markets that demand it as a raw material(applications)
- Power electronics: With the European Chips Act of February 2022 that has strengthened the electronic ecosystem in the EU and the motive of catering to domestic needs self-sufficiently and the target of doubling market share to 20%, these soft ferrites which find extensive application may take a boost
- Automobile: Electrical vehicle market is expected to grow at a CAGR of 11-12% Ferrites find extensive use in electric as well as hybrid vehicle thus storing very high potential. Also battery management system used to optimize battery finds uses a ferrites core.
- Aerospace: Aerospace technology uses various antenna log conical, equiangular spiral, etc. for signaling. Ferrite loading can easily modify characteristics with the objective to reduce weight and size.
- Defense: Wave guide components of defense radars and machinery use ferrites microwaves, circulators, and directional couplers.
- Telecommunication: With the emergence of newer technologies like ferrite nanoparticles, the scope of use has increased manifolds in the electronics industry. Its various properties like elasticity, hysteresis, coercivity, and magnetic saturation may be exploited in newer sections also.
Market leaders and future projections
We are expecting fluctuating market demand pertaining to the supply chain and inflation. Heavy crude oil price fluctuation as recorded in 2022 can also impact the steady growth of the sector. We have witnessed a global slowdown because of COVID 19 and the Russia-UK war which warn the companies to be more attentive to demand-supply projections.
Market size estimates
Taking only Europe’s market size into account, size is approximately 30-thousand-ton production in 2022 and is expected to reach 35 thousand tony 2028 which is almost 3% expected CAGR