Magnetorheological Fluid Market Trends

  • Report ID: 5746
  • Published Date: Nov 27, 2024
  • Report Format: PDF, PPT

Magnetorheological Fluid Market Trends

Growth Drivers

  • Expanding construction sector - Magnetorheological fluid dampers control wind-blown vibrations across strings. They are also used to lessen the effects of seismic activity. For instance, the Dongting Bridge, located in South-Central China at the confluence of the Yangtze River and Dongting Lake, illustrates a cable-stayed bridge. It is the first cable-stayed bridge with MR dampers installed to lessen vibrations caused by rain and wind.
  • Surging popularity of robotic surgery - The robotics area is experiencing a sharp increase in demand for magnetorheological fluids, which are mostly composed of silicone oil and iron particles and may alter their viscosity in response to the strength of a magnetic field. Moreover, a robot-assisted catheter/guidewire surgery system based on magnetorheological fluid (MR) has been created to assure surgical safety and make it easier for surgeons to determine if the proximal force is greater than or equal to the blood vessel safety threshold.
  • Growing need for magnetic resonance fluids in pneumatic prosthetic limbs - Pneumatically-based artificial muscle is garnering a lot of interest, which necessitates the use of magnetorheological fluids to dampen the vibrations caused by using artificial muscles when subjected to heavy loads. The MR brake can efficiently reduce vibrations and accomplish the desired outcome by dissipating energy in this manner. Thus, the need for MR fluids is likewise influenced by this issue.

Challenges

  • Setting and sedimentation to reduce market share - Gravity may cause the magnetic particles in MR fluid to settle or silt over time, reducing the fluid's performance and homogeneity. The fluid's consistency and efficacy may be impacted by this sedimentation, necessitating re-magnetization or frequent agitation to preserve the fluid's qualities.MR fluid containing magnetic particles can erode and wear down component surfaces, especially in high-load or high-speed applications. This may result in more frequent maintenance being needed.
  • Lack of awareness - The product magneto rheological fluid is novel. Customers are still unaware of all the advantages that come with the product. As a result, there is little flexibility in adoption.
  • Government restrictions on food safety are impeding the magnetorheological fluid market revenue.

Magnetorheological Fluid Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

20.3%

Base Year Market Size (2024)

USD 5.94 billion

Forecast Year Market Size (2037)

USD 65.65 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Rajrani Baghel


  • Report ID: 5746
  • Published Date: Nov 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of magnetorheological fluid is evaluated at USD 6.9 billion.

The magnetorheological fluid market size was over USD 5.94 billion in 2024 and is poised to exceed USD 65.65 billion by 2037, witnessing over 20.3% CAGR during the forecast period i.e., between 2025-2037. The market growth is propelled by increasing the demand for advanced materials such as magnetorheological fluid.

North America industry is poised to account for largest revenue share of 35% by 2037, due to burgeoning spending in the aerospace and defense business in the region.

The major players in the market are Ferrotec, BASF SE, TA Instruments, Anton Paar GmbH, Ioniqa Technologies B.V., CK Materials Lab Co., Ltd., Industrial Metal Powders (I) Pvt. Ltd., Ferrofluidics Corporation, Boron Rubbers India, and others.
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