Soft Magnetic Materials

Soft Magnetic Materials Market Outlook

The global soft magnetic materials market is projected to reach approximately USD 30 billion by 2035, growing at a CAGR of around 6.5% during the forecast period from 2025 to 2035. The increasing demand for efficient energy storage systems and power electronics, along with the rising adoption of electric vehicles (EVs) and renewable energy technologies, are primary growth factors driving this market. Moreover, advancements in material science are paving the way for the development of new soft magnetic materials with enhanced properties, facilitating their application across various industries such as electronics, automotive, and energy. The growing emphasis on energy conservation, along with governmental policies promoting sustainable practices, further contributes to the growth of the soft magnetic materials market, making it a viable sector for investment and innovation.

Growth Factor of the Market

Several growth factors are contributing to the expansion of the soft magnetic materials market. First, the increasing demand for energy-efficient devices is driving manufacturers to focus on soft magnetic materials, which play a vital role in reducing energy losses in magnetic components such as transformers and inductors. Second, the rise of electric vehicles is creating a significant demand for high-performance magnetic materials used in motors and power electronics. Third, the proliferation of renewable energy sources, particularly wind and solar power, necessitates advanced magnetic materials for efficient energy conversion and storage systems. Fourth, the ongoing developments in electronics are leading to more compact and efficient designs, further fueling the need for advanced soft magnetic materials. Lastly, the growing trend towards miniaturization in various applications, including consumer electronics and industrial machinery, is creating new opportunities for soft magnetic materials manufacturers, as they enable smaller and lighter devices without compromising performance.

Key Highlights of the Market

• The global soft magnetic materials market is projected to grow at a CAGR of around 6.5% from 2025 to 2035.
• Electric vehicles and renewable energy technologies are significant drivers of market demand.
• Increasing emphasis on energy efficiency is prompting innovations in soft magnetic materials.
• Advancements in material science are leading to the development of superior soft magnetic materials with enhanced properties.
• The electronics and automotive industries are the largest end-users of soft magnetic materials.

By Product Type

Soft Ferrites:

Soft ferrites are one of the most widely used types of soft magnetic materials due to their excellent magnetic properties and low electrical conductivity. These materials are commonly utilized in high-frequency applications such as transformers, inductors, and magnetic sensors. The ability of soft ferrites to operate efficiently at elevated frequencies makes them ideal for applications in telecommunications and consumer electronics. Furthermore, advancements in the manufacturing processes of soft ferrites, including the development of new compositions and microstructures, are expected to enhance their performance and expand their application scope. The growing demand for miniaturized electronic components coupled with the rapid advancement of wireless technologies is likely to continue propelling the growth of the soft ferrites segment in the coming years.

Electrical Steel:

Electrical steel, often referred to as silicon steel, is a critical material used in transformers and electrical machines due to its exceptional magnetic permeability and low loss characteristics. The addition of silicon to the iron base significantly enhances its magnetic properties, thereby reducing energy losses during operation. This material is primarily used in the automotive and energy sectors, where efficient energy conversion is essential. The increasing investments in renewable energy projects, particularly wind and solar, are also driving the demand for electrical steel, as it is integral in the construction of transformers and generators. As industries strive to meet energy efficiency regulations and sustainability goals, the electrical steel segment is poised for substantial growth over the forecast period.

Amorphous Alloys:

Amorphous alloys are recognized for their unique amorphous structure, which allows for minimal energy loss during magnetic cycles, making them highly efficient. These materials are utilized in applications requiring high-performance magnetic properties, such as transformers and inductors, particularly in high-frequency environments. The growing focus on energy efficiency and the need for improved performance in power electronics are expected to bolster the demand for amorphous alloys. Additionally, advancements in processing techniques are enhancing the manufacturability of these materials, which is likely to contribute to their increased adoption across various applications. Their unique properties position amorphous alloys as a key segment in the soft magnetic materials market.

Iron-Silicon Alloys:

Iron-silicon alloys are well-known for their ability to enhance the magnetic properties of iron while reducing energy losses. These alloys are primarily utilized in the production of transformer cores and electrical machines, where efficiency is paramount. The demand for iron-silicon alloys is driven by the increasing focus on energy-efficient technologies and the push towards reducing the carbon footprint in industrial applications. The electrical power generation and distribution sectors are key end-users of iron-silicon alloys, with ongoing advancements in manufacturing techniques expected to further boost their performance. As industries continue to prioritize energy efficiency, the iron-silicon alloys segment is likely to witness robust growth in the coming years.

Cobalt Iron Alloys:

Cobalt iron alloys are distinguished by their outstanding magnetic properties, particularly in applications requiring high saturation magnetization and thermal stability. These alloys are commonly used in specialized applications such as aerospace and defense, where performance and reliability are critical. The increasing demand for advanced materials in the aerospace sector, driven by the need for lighter and more efficient components, is expected to create opportunities for cobalt iron alloys. Furthermore, the unique properties of these materials make them suitable for high-frequency applications, which are becoming increasingly relevant in modern electronics. As the aerospace and defense industries continue to evolve, the cobalt iron alloys segment is anticipated to grow significantly.

By Application

Transformers:

Transformers are one of the primary applications of soft magnetic materials, particularly electrical steel and soft ferrites. The efficiency and performance of transformers are heavily reliant on the magnetic properties of the materials used in their core. With the growing focus on energy conservation and the transition towards smart grids, the demand for high-efficiency transformers is surging. Soft magnetic materials enable transformers to operate at lower losses, making them vital in the modern electrical infrastructure. The ongoing investments in renewable energy projects and the upgrade of existing grid systems are expected to significantly contribute to the growth of the transformer application segment in the soft magnetic materials market.

Motors:

Soft magnetic materials play a crucial role in the construction of electric motors, where they enhance efficiency and performance. The increasing adoption of electric vehicles, along with the growing demand for energy-efficient industrial motors, is driving the market for soft magnetic materials in motor applications. Materials such as electrical steel are commonly used in motor cores, providing essential magnetic properties that minimize losses during operation. As industries strive for higher efficiency and performance in motors, the soft magnetic materials segment is poised for substantial growth, supported by innovations in motor design and materials technology.

Inductors:

Inductors are essential components in various electronic circuits, and the performance of these devices largely depends on the soft magnetic materials used in their construction. Soft ferrites and amorphous alloys are frequently employed in inductors to ensure low energy losses and high efficiency. The growing demand for inductors in applications such as power supplies, telecommunications, and consumer electronics is expected to drive the soft magnetic materials market. Additionally, the trend towards miniaturization in electronic devices is creating new opportunities for advanced soft magnetic materials that offer better performance in smaller packages, further contributing to the growth of the inductor application segment.

Generators:

Generators are critical components in power generation and are heavily reliant on soft magnetic materials to enhance efficiency. The increasing investments in renewable energy sources, including wind and hydroelectric power, are driving the demand for soft magnetic materials in generator applications. Materials such as electrical steel are used in the rotor and stator cores, providing low-loss characteristics and high magnetic permeability. As the global focus on sustainable energy solutions intensifies, the soft magnetic materials market is expected to benefit from the growing generator application segment, fueled by innovations in generator design and material technology.

Magnetic Sensors:

Magnetic sensors are an increasingly important application of soft magnetic materials, particularly in consumer electronics, automotive, and industrial applications. The integration of soft magnetic materials, such as soft ferrites, enhances the sensitivity and performance of these sensors. The rising adoption of magnetic sensors in various applications, including navigation systems, position sensing, and automotive safety features, is driving the demand for soft magnetic materials. As the trend towards automation and smart technologies continues, the magnetic sensor application segment is expected to witness significant growth, supported by advancements in sensor technology and material science.

By Use Industry

Electronics & Telecommunications:

The electronics and telecommunications industry is one of the largest consumers of soft magnetic materials due to the high demand for efficient power components and devices. Soft magnetic materials, such as soft ferrites and electrical steel, are widely used in transformers, inductors, and magnetic sensors, which are essential for telecommunication infrastructure and consumer electronics. The rapid advancements in wireless communication technologies and the growing need for high-frequency applications are driving the demand for soft magnetic materials in this sector. Additionally, as the electronics industry continues to evolve with the introduction of new technologies, the requirement for advanced soft magnetic materials that ensure reliability and efficiency will further bolster market growth.

Automotive:

The automotive industry is becoming increasingly reliant on soft magnetic materials, particularly with the rise of electric vehicles (EVs) and hybrid electric vehicles (HEVs). Soft magnetic materials are crucial in the design of motors, transformers, and other components that contribute to the overall efficiency of these vehicles. The ongoing trends towards electrification and automation in the automotive sector are creating ample opportunities for soft magnetic materials, as they are essential for the efficient operation of electric drivetrains. The growing emphasis on reducing the carbon footprint of vehicles is likely to further drive the demand for advanced soft magnetic materials in automotive applications.

Energy & Power:

The energy and power sector is a significant end-user of soft magnetic materials, particularly in applications such as transformers, generators, and energy storage systems. The increasing focus on renewable energy technologies, including wind and solar power, is driving the demand for efficient magnetic materials that can facilitate energy conversion and storage. Soft magnetic materials help minimize energy losses in transformers and generators, thereby enhancing overall system efficiency. As the global energy landscape shifts towards sustainability and the adoption of smart grid technologies accelerates, the soft magnetic materials market is expected to benefit from prolonged growth in the energy and power industry.

Industrial:

The industrial sector employs a wide range of soft magnetic materials in various applications, including motors, transformers, and sensors. The push towards automation and the increasing demand for energy-efficient machinery are driving the need for advanced soft magnetic materials. Manufacturers are continuously seeking ways to enhance performance and reduce energy consumption in industrial applications, leading to increased adoption of soft magnetic materials. Furthermore, ongoing advancements in material technology are enabling the development of new materials that meet the evolving needs of the industrial sector, supporting robust growth in this segment.

Aerospace & Defense:

The aerospace and defense industries are increasingly leveraging soft magnetic materials for specialized applications that require high performance and reliability. Cobalt iron alloys, along with other advanced materials, are utilized in components such as sensors, motors, and actuators. The demand for lightweight and high-strength materials in aerospace applications drives the need for efficient soft magnetic materials. Furthermore, ongoing investments in defense technologies and advancements in aerospace systems are expected to propel the soft magnetic materials market in this sector. As these industries continue to innovate, the demand for specialized soft magnetic materials will likely grow significantly.

By Distribution Channel

Direct Sales:

Direct sales play a crucial role in the distribution of soft magnetic materials, as manufacturers often establish strong relationships with major clients and industries requiring these materials. This distribution channel allows for direct engagement, enabling manufacturers to better understand customer needs and offer tailored solutions. The growing trend of manufacturers offering technical support and personalized services directly to customers is further enhancing the effectiveness of direct sales. In sectors such as automotive and aerospace, where high-performance materials are critical, direct sales channels facilitate efficient communication and rapid response to changing market demands. As the complexity of applications increases, direct sales are poised to remain a significant channel for distributing soft magnetic materials.

Indirect Sales:

Indirect sales involve the use of intermediaries such as distributors and wholesalers to reach a broader customer base for soft magnetic materials. This channel is particularly advantageous for suppliers looking to penetrate markets beyond their immediate geographical reach. Indirect sales offer access to a wider array of clients in various industries, including electronics, automotive, and industrial applications. Moreover, partnerships with established distributors can provide manufacturers with valuable market insights and trends, enabling them to adapt their offerings accordingly. As the demand for soft magnetic materials continues to rise across multiple sectors, indirect sales will play a pivotal role in ensuring that these materials are accessible to end-users worldwide.

By Region

North America is one of the prominent regions in the soft magnetic materials market, accounting for a significant share due to its well-established automotive and electronics industries. The region is expected to witness steady growth, driven primarily by advancements in electric vehicle technology and the increasing adoption of renewable energy sources. The electrical steel segment is particularly strong in this region, as manufacturers strive for improved efficiency in power generation and distribution systems. The North American soft magnetic materials market is projected to grow at a CAGR of approximately 5.5% over the forecast period, driven by a shift towards sustainable energy solutions and technological advancements.

In Europe, the soft magnetic materials market is also experiencing robust growth, largely fueled by the automotive sector's transition to electric vehicles and strict energy efficiency regulations. Countries such as Germany and France are leading the charge in the adoption of advanced soft magnetic materials to enhance the performance of electric motors and transformers. Additionally, the focus on renewable energy projects is driving investments in the energy and power sectors, further solidifying Europe's position in the global soft magnetic materials market. The European market is projected to grow at a CAGR of around 7.0%, reflecting the region's commitment to sustainability and technological innovation.

Opportunities

There are numerous opportunities for growth within the soft magnetic materials market, particularly driven by the increasing demand for electric vehicles and renewable energy technologies. The transition towards electric vehicles presents a significant opportunity for manufacturers of soft magnetic materials, as the need for efficient motors and transformers is paramount in this sector. Additionally, advancements in power electronics and energy storage systems are creating new application areas for soft magnetic materials, further expanding the market landscape. Companies that focus on innovation and enhancing the performance characteristics of soft magnetic materials are likely to gain a competitive edge. Furthermore, strategic partnerships and collaborations with key players in the automotive and energy sectors can facilitate market penetration and growth.

Moreover, the ongoing investments in infrastructure development and smart grid technologies are expected to provide ample opportunities for the soft magnetic materials market. As countries around the world strive to modernize their energy infrastructure, the demand for efficient transformers and generators is set to rise, thereby creating a favorable environment for soft magnetic materials. Additionally, the increasing emphasis on sustainability and reduced energy consumption in industrial applications is driving manufacturers to seek out high-performance soft magnetic materials. Companies that can align their product offerings with these trends, while also focusing on R&D efforts to introduce innovative materials, will find significant opportunities in the evolving market landscape.

Threats

Despite the promising growth prospects, the soft magnetic materials market faces several threats that could impact its expansion. One of the significant threats is the volatility of raw material prices, which can affect production costs and profitability for manufacturers. The reliance on certain raw materials, such as iron and cobalt, exposes the market to fluctuations in supply and demand dynamics. Additionally, geopolitical tensions and trade restrictions may disrupt supply chains, leading to increased costs and potential shortages of essential materials. Furthermore, the emergence of alternative materials and technologies that could replace traditional soft magnetic materials poses a competitive threat, as companies strive to innovate and maintain market relevance.

Another notable threat to the soft magnetic materials market is the rapid pace of technological advancements. As industries evolve, there is a continuous demand for new and improved materials that can meet stringent performance criteria. This pressure for innovation can create challenges for established companies that may struggle to adapt to changing market demands quickly. Moreover, the increasing focus on recycling and sustainability could lead to more stringent regulations regarding material sourcing and production processes, which may impact operational efficiency. Manufacturers must remain vigilant and adaptable to navigate these challenges effectively and sustain their competitive position in the market.

Competitor Outlook

• Hitachi Metals Ltd.
• AK Steel Corporation
• Magnetics, LLC
• Sumitomo Electric Industries, Ltd.
• Amorfix Life Sciences Ltd.
• Kohsei Co., Ltd.
• Advanced Magnetic Materials Corporation
• Carpenter Technology Corporation
• Thyssenkrupp AG
• Danfoss A/S
• Vacuum Schmelze GmbH & Co. KG
• Freescale Semiconductor, Inc.
• GKN PLC
• Proterial, Ltd.
• Sandvik AB

The competitive landscape of the soft magnetic materials market is characterized by the presence of several key players that are vying for market share through strategic initiatives and innovative solutions. These companies are focusing on product differentiation and technological advancements to gain a competitive edge. Established manufacturers such as Hitachi Metals and AK Steel Corporation leverage their extensive experience and broad product portfolios to cater to diverse customer needs across various industries. Furthermore, these companies invest significantly in research and development to drive innovation and enhance the performance characteristics of their soft magnetic materials, ensuring they remain at the forefront of the market.

Moreover, the soft magnetic materials market is witnessing a trend of consolidation, with companies pursuing mergers and acquisitions to expand their market presence and access new technologies. For instance, collaborations between manufacturers and research institutions are becoming more common, allowing companies to leverage cutting-edge research and development to create advanced materials. Additionally, partnerships with key players in the automotive and energy sectors are helping manufacturers align their products with emerging industry trends, ensuring they remain competitive in a rapidly evolving market landscape.

Some of the major players in the soft magnetic materials market include Sumitomo Electric Industries and Magnetics, LLC, both of which are recognized for their commitment to quality and innovation. Sumitomo Electric Industries, with its extensive product offerings and strong foothold in the automotive sector, is well-positioned to benefit from the growing demand for electric vehicles. Magnetics, LLC, on the other hand, specializes in advanced ferrite materials and has established a reputation for providing high-performance magnetic solutions to various industries. These companies, along with others in the market, are focused on improving their operational efficiencies and exploring new growth opportunities to maintain their competitive advantage.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 GKN PLC
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Sandvik AB
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Danfoss A/S
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Magnetics, LLC
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Proterial, Ltd.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Thyssenkrupp AG
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Kohsei Co., Ltd.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Hitachi Metals Ltd.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 AK Steel Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Amorfix Life Sciences Ltd.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Freescale Semiconductor, Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Vacuum Schmelze GmbH & Co. KG
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Carpenter Technology Corporation
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Sumitomo Electric Industries, Ltd.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Advanced Magnetic Materials Corporation
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Soft Magnetic Materials Market, By Application
    • 6.1.1 Transformers
    • 6.1.2 Motors
    • 6.1.3 Inductors
    • 6.1.4 Generators
    • 6.1.5 Magnetic Sensors
  • 6.2 Soft Magnetic Materials Market, By Product Type
    • 6.2.1 Soft Ferrites
    • 6.2.2 Electrical Steel
    • 6.2.3 Amorphous Alloys
    • 6.2.4 Iron-Silicon Alloys
    • 6.2.5 Cobalt Iron Alloys
  • 6.3 Soft Magnetic Materials Market, By Use Industry
    • 6.3.1 Electronics & Telecommunications
    • 6.3.2 Automotive
    • 6.3.3 Energy & Power
    • 6.3.4 Industrial
    • 6.3.5 Aerospace & Defense
  • 6.4 Soft Magnetic Materials Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Indirect Sales

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Soft Magnetic Materials Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Soft Magnetic Materials market is categorized based on

By Product Type

• Soft Ferrites
• Electrical Steel
• Amorphous Alloys
• Iron-Silicon Alloys
• Cobalt Iron Alloys

By Application

• Transformers
• Motors
• Inductors
• Generators
• Magnetic Sensors

By Use Industry

• Electronics & Telecommunications
• Automotive
• Energy & Power
• Industrial
• Aerospace & Defense

By Distribution Channel

• Direct Sales
• Indirect Sales

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Hitachi Metals Ltd.
• AK Steel Corporation
• Magnetics, LLC
• Sumitomo Electric Industries, Ltd.
• Amorfix Life Sciences Ltd.
• Kohsei Co., Ltd.
• Advanced Magnetic Materials Corporation
• Carpenter Technology Corporation
• Thyssenkrupp AG
• Danfoss A/S
• Vacuum Schmelze GmbH & Co. KG
• Freescale Semiconductor, Inc.
• GKN PLC
• Proterial, Ltd.
• Sandvik AB