The Global Soft Magnetic Stainless Steel Market was valued at USD 4.8 Billion in 2024 and is projected to reach USD 7.1 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period (2024–2030). This robust growth is primarily driven by the escalating demand for high-efficiency electric motors, the rapid expansion of the renewable energy sector, and the increasing miniaturization of electronic components across automotive, industrial, and consumer electronics applications.

As industries worldwide push for greater energy efficiency and performance, the materials that form the core of electromagnetic devices are gaining unprecedented importance. Soft Magnetic Stainless Steels (SMSS), with their unique combination of good magnetic permeability, high electrical resistivity, and excellent corrosion resistance, are at the forefront of this materials revolution. In this blog, we profile the Top 10 Companies in the Soft Magnetic Stainless Steel Industry—specialized steel producers and advanced materials innovators who are shaping the future of electromagnetism.

Download FREE Sample Report:
Soft Magnetic Stainless Steel Market – View in Detailed Research Report

---

🔟 1. SANYO SPECIAL STEEL Co., Ltd.

Headquarters: Himeji, Hyogo, Japan
Key Offering: High-purity SMSS bars, wires, and custom alloys

SANYO SPECIAL STEEL is a globally recognized leader in the production of specialty steels, with a significant focus on soft magnetic grades. The company’s expertise lies in producing ultra-clean steels with controlled magnetic properties essential for high-performance applications like precision sensors and efficient motor cores.

Innovation and Market Focus:

• Advanced vacuum degassing and continuous casting technologies for impurity control

• Strong focus on the automotive sector for electric vehicle (EV) traction motors

• Development of cobalt-free SMSS alloys for cost-sensitive applications

---

9️⃣ 2. TOHOKU STEEL Co.,Ltd.

Headquarters: Kuji, Iwate, Japan
Key Offering: Thin-gauge SMSS strips and precision cold-rolled products

TOHOKU STEEL specializes in the manufacturing of extremely thin, cold-rolled soft magnetic stainless steel strips. These products are critical for high-frequency applications such as switcher transformer cores and magnetic shielding, where reduced eddy current losses are paramount.

Innovation and Market Focus:

• Expertise in producing strips with thicknesses down to 0.05mm

• Leading supplier to the Japanese electronics and telecommunications industries

• Continuous investment in rolling mill precision and surface finish technologies

---

8️⃣ 3. Ugitech (A subsidiary of Schmolz + Bickenbach)

Headquarters: Ugine, Auvergne-Rhône-Alpes, France
Key Offering: A wide range of long stainless steel products, including SMSS grades

As part of one of the world’s leading specialty steel producers, Ugitech boasts extensive capabilities in melting and processing soft magnetic stainless steels. The company serves diverse sectors, from industrial machinery to aerospace, with a strong emphasis on European markets.

Innovation and Market Focus:

• Access to extensive R&D resources through the Schmolz + Bickenbach group

• Focus on developing SMSS for harsh environments requiring corrosion resistance

• Strategic positioning within the European Union’s green technology initiatives

---

7️⃣ 4. TAKASAGO TEKKO KK

Headquarters: Amagasaki, Hyogo, Japan
Key Offering: Precision SMSS wires, shaped wires, and fine strands

TAKASAGO TEKKO is a niche player renowned for its high-precision wire drawing capabilities. The company produces soft magnetic stainless steel in various forms, including round wires and profiled shapes, which are essential for miniature relays, solenoids, and medical device components.

Innovation and Market Focus:

• Specialization in ultra-fine wires with diameters as small as 0.01mm

• Caters to the demanding requirements of the medical and precision instrumentation sectors

• Strong quality control systems ensuring consistent magnetic and mechanical properties

Download FREE Sample Report:
Soft Magnetic Stainless Steel Market – View in Detailed Research Report

---

6️⃣ 5. ASM International

Headquarters: Almere, Netherlands
Key Offering: Advanced materials data, specifications, and industry analysis for SMSS

While not a producer, ASM International plays a pivotal role in the SMSS ecosystem as a leading authority on materials information. Through its handbooks, databases, and standardization efforts, ASM provides critical technical knowledge that drives material selection, development, and innovation across the industry.

Innovation and Market Focus:

• Maintains comprehensive databases on magnetic properties of various steel grades

• Facilitates industry-wide standards for testing and characterizing SMSS

• Provides essential educational resources for engineers and metallurgists

---

5️⃣ 6. Valbruna

Headquarters: Vicenza, Italy
Key Offering: Nickel-alloyed SMSS, bars, wires, and flats

Valbruna is a prominent Italian stainless steel producer with a strong portfolio of specialty grades, including several soft magnetic stainless steels. The company’s strength lies in its vertical integration, controlling the process from melting to finished product, which ensures tight quality control over magnetic characteristics.

Innovation and Market Focus:

• Production of grades like AISI 430F and custom alloys for specific magnetic responses

• Serves the European automotive, valve, and pump manufacturing industries

• Investment in sustainable production practices and recycling of raw materials

---

4️⃣ 7. CRS Holdings, LLC (A Carpenter Technology Company)

Headquarters: Wilmington, Delaware, USA
Key Offering: Premium specialty alloys, including soft magnetic stainless steels

As part of Carpenter Technology, a global leader in high-performance alloys, CRS Holdings brings immense metallurgical expertise to the SMSS market. The company produces high-purity alloys designed for critical applications in the aerospace, defense, and medical sectors where reliability is non-negotiable.

Innovation and Market Focus:

• Development of alloys with optimized magnetic properties for extreme environments

• Extensive R&D focused on next-generation electromagnetic materials

• Strong presence in North American defense and aerospace supply chains

---

3️⃣ 8. MICRO MIM

Headquarters: Taoyuan City, Taiwan
Key Offering: Metal Injection Molded (MIM) components using SMSS powders

MICRO MIM represents a different facet of the SMSS industry, focusing on the fabrication of complex, net-shape components through Metal Injection Molding. This process is ideal for producing small, intricate parts with excellent magnetic properties, such as armatures and pole pieces, for mass production.

Innovation and Market Focus:

• Expertise in processing SMSS powders into high-volume, precision components

• Serves the consumer electronics, automotive sensor, and tool-less industries

• Leverages MIM technology for design flexibility and cost-effectiveness

---

2️⃣ 9. Jiangsu Xihu Special Steel Group Co., Ltd.

Headquarters: Jingjiang, Jiangsu, China
Key Offering: SMSS billets, bars, and wire rods

Jiangsu Xihu Special Steel is a major Chinese manufacturer with a growing focus on specialty steel products, including soft magnetic grades. The company benefits from China’s vast industrial base and is strategically positioned to serve the booming domestic markets for EVs, renewable energy, and consumer durables.

Innovation and Market Focus:

• Rapid scaling of production capacity to meet domestic demand

• Focus on cost-competitive SMSS for mass-market applications

• Investment in upgrading production facilities to improve product quality and consistency

---

1️⃣ 10. Jiangyin Xinzhiyu Stainless Steel Material Co., Ltd

Headquarters: Jiangyin, Jiangsu, China
Key Offering: SMSS strips, precision cold-rolled sheets, and customized profiles

Jiangyin Xinzhiyu specializes in the processing of stainless steel, with a dedicated focus on producing cold-rolled strips and sheets with specific magnetic properties. The company serves as a key supplier to transformer manufacturers, motor producers, and various electronic component makers.

Innovation and Market Focus:

• Capability to produce tailored SMSS products based on customer specifications

• Strong logistics network within China’s Yangtze River Delta industrial hub

• Emphasis on developing products for the new energy vehicle and solar inverter markets

Get Full Report Here:
Soft Magnetic Stainless Steel Market – View in Detailed Research Report

---

🌍 Outlook: The Future of Soft Magnetic Stainless Steel Is High-Performance and Sustainable

The soft magnetic stainless steel market is undergoing a significant transformation. While standard grades continue to serve traditional applications, the industry is heavily investing in advanced material science, precision manufacturing technologies, and sustainable production methods to meet the demands of the 21st century.

📈 Key Trends Shaping the Market:

• Accelerated demand from the Electric Vehicle sector for high-efficiency motor cores

• Growth in renewable energy infrastructure driving need for transformer and inverter components

• Miniaturization of electronics requiring SMSS with superior performance in smaller volumes

• Increasing regulatory pressure for energy-efficient appliances and industrial equipment

Get Full Report Here:
Soft Magnetic Stainless Steel Market – View in Detailed Research Report

The companies profiled above are not just supplying a material; they are enabling the technological advancements that underpin a more efficient and electrified world. Their continuous innovation in soft magnetic stainless steel ensures that the core components of modern technology will be more powerful, reliable, and sustainable.