PUNE, India, November 15, 2016 /PRNewswire/ -- The report " Soft Magnetic Materials Market by Material Type (Soft Ferrite, Electrical Steel, Cobalt), Application (Motor, Transformer, Alternator), End User Industry (Automotive, Electronics & Telecommunications, Electrical) - Global Forecast to 2026", published by MarketsandMarkets, the market is projected to reach USD 28.15 Billion by 2021, growing at a CAGR of 7.8%, from 2016 to 2021. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 72 market data Tables and 43 Figures spread through 125 Pages and in-depth TOC on " Soft Magnetic Materials Market"http://www.marketsandmarkets.com/Market-Reports/soft-magnetic-material-market-206182334.html Early buyers will receive 10% customization on this report. The increasing demand for materials that can reduce eddy current loss and offer good permeability is driving the usage of soft magnetic materials in many end-user industries such as automotive, electronics & telecommunications, and electrical, among others. Electrical steel comprises a major share of the soft magnetic materials market in terms of value Electrical steel has the highest market share in the global soft magnetic materials market as it provides electrical insulation, high permeability, low coercively, high electrical resistivity to iron, and minimizes magnetic losses. It is used in applications such as, electrical power transformers, motors, generators, and inductors. It also offers a small hysteresis area which eventually leads to less eddy current loss, thereby increasing the efficiency of the application. Download PDF Brochure of this Report @http://www.marketsandmarkets.com/pdfdownload.asp?id=206182334Automotive is the largest end-use industry for soft magnetic materials in terms of volume Soft magnetic materials have gained wide acceptance in various end-user industries, because of the superior performance and a number of advantageous properties such as, good permeability and the reduction of eddy current loss. Automotive is a major consumer in the soft magnetic materials market. The major automotive applications where these materials are used include, anti-lock brake systems, fuel injectors, motors, compressors, other rotating devices, and so on.