1. Basic situation of soft magnetic ferrite materials
      According to the strength of magnetism, the magnetism of a substance can be divided into diamagnetism, paramagnetism, antiferromagnetism, ferromagnetism, and ferrous magnetism. Among them, ferromagnetic and ferrous magnetic substances are strong magnetic substances. Magnetic materials usually refer to strong magnetic substances, mainly composed of transition group elements such as iron, cobalt, nickel, and their alloys.
      According to different application types, magnetic materials can be divided into soft magnetic materials, permanent magnetic materials, and functional magnetic materials. Soft magnetic materials are magnetic materials with low coercivity to magnetic flux density and magnetization strength. Compared with hard magnetic materials, they are easy to magnetize and demagnetize, and are usually used to prepare various electronic magnetic components such as inductors and electronic transformers to achieve functions such as power transmission, power conversion, and signal screening.
      According to the different materials and structures, soft magnetic materials can be divided into metal soft magnetic, soft magnetic ferrite, and amorphous and nanocrystalline soft magnetic alloys.
      Metal soft magnetism, represented by silicon steel sheets as a typical example, is the earliest soft magnetic material. Due to its low resistivity and high loss at high frequencies, it is more suitable for low-frequency scenarios. The metal soft magnetic powder core is made of alloy soft magnetic powders such as iron nickel, iron silicon, and iron silicon aluminum, which improves the disadvantages of high frequency and high loss of traditional silicon steel sheets. Soft magnetic ferrite materials have high electrical resistivity and low saturation magnetic flux density, and are widely used in many fields due to their low loss in mid to high frequency scenarios and good mechanical processing characteristics.
      Amorphous alloy soft magnets are prepared by rapidly cooling alloy solutions into amorphous alloy thin strips. On the basis of amorphous alloy soft magnets, nanocrystalline soft magnets obtain nano level soft magnetic alloys through appropriate annealing processes. These materials have better comprehensive properties in saturated magnetic flux density and resistivity, but lower in technical maturity than metal soft magnets and soft magnetic ferrite.
      Overall, different types of soft magnetic materials are applied in different demand scenarios due to differences in electromagnetic characteristics, technological maturity, and product prices.
      According to different formulas, soft magnetic ferrite mainly includes manganese zinc series, nickel zinc series, and magnesium zinc series. Among them, manganese zinc series ferrite is the most widely used and produced soft magnetic ferrite material. According to QY Research statistics, the production of manganese zinc soft magnetic ferrite accounted for 75.6% of the total production of soft magnetic ferrite in 2020.
2. Overview of the Development of Soft Magnetic Ferrite Market
(1) Basic situation of the magnetic material market
      Magnetic materials are important foundational materials in the production process of the national economy, widely used in fields such as electronics, electricity, information, machinery, transportation, new energy, medical and health, national defense and military industry, for storing and transmitting electrical energy.
According to QY Research's statistics and forecast data, the global production of magnetic materials increased from 1.8659 million tons to 2.417 million tons from 2016 to 2022, with an average annual growth rate of 4.4%. It is expected that the global production of magnetic materials will reach 3.4423 million tons by 2027, with an average annual growth rate of 7.2% from 2021 to 2027.
With the advantages of resources and labor, as well as the supporting support of the industrial chain and market, China has developed into a global magnetic material

      With the advantages of resources and labor, as well as the support of the industrial chain and market, China has developed into a major production base and sales market for magnetic materials worldwide. According to the statistics of the Magnetic Materials Branch of the China Electronics Materials Industry Association, the total operating revenue of China's magnetic materials industry in 2021 has exceeded 100 billion yuan.
(2) The basic situation of the soft magnetic ferrite market. Soft magnetic ferrite is an important variety of soft magnetic materials, and its industrial production can be traced back to the 1940s. For more than half a century, the electromagnetic performance, process maturity, production scale, and automation level of soft magnetic ferrite have been continuously improved, meeting the constantly updated application needs of downstream.
      Due to its low power loss under medium to high frequency conditions, good mechanical processing characteristics, and relatively mature technological path, soft magnetic ferrite is widely used in fields such as household appliances, computers, and mobile communication, and is used to manufacture various types of electronic magnetic components such as electronic transformers and inductors. With the rise of emerging markets such as wireless charging, new energy vehicles, photovoltaic power generation, and green lighting, the application scope and market demand of soft magnetic ferrite will continue to maintain good growth.
      The production of soft magnetic ferrite in China started in the 1950s and 1960s. Benefiting from the drive of the home appliance industry chain, the industrial production of soft magnetic ferrite in China developed rapidly from the 1980s to the 1990s, with a continuous increase in the number of enterprises and a rapid expansion of production scale. Famous foreign magnetic material production enterprises are gradually increasing their investment in building factories in China, driving the improvement of the production scale, production technology, and product performance of magnetic materials in China.
      According to the statistics of the Magnetic Materials Branch of the China Electronics Materials Industry Association, the sales volume of soft magnetic ferrite in China was about 460000 tons in 2021, with a year-on-year growth rate of 10.8%. China has become the world's largest producer of soft magnetic ferrite. At the same time, China's future production of soft magnetic ferrite will develop at an annual growth rate of 10%, exceeding the world's annual growth rate of 6% for soft magnetic ferrite materials.