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Magnetorheological Fluid Market Trends

Report ID: GMI7867
Published Date: Jan 2024
Report Format: PDF

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Magnetorheological Fluid Market Trends

Significant growth and development have been observed in the magnetic biological fluid (MRF) market. The global market for MRF is witnessing significant growth, driven by the advancement in smart fluid technology and its applications in various industries The market is at a robust CAGR, with projections indicating significant growth potential. The robotic application segment has the largest revenue share, reflecting the growing adoption of MRF in advanced industrial applications. Furthermore, MRF based systems are expanding rapidly and are widely used in civil, aerospace, automotive industries due to controllability and high sensitivity The market growth is further supported by the unique advantages of MRF dampers, which widely accepted in various industries vibration control.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industry size for magnetorheological fluid was valued at USD 5.09 billion in 2023 and is anticipated to grow at over 20.1% CAGR between 2024 and 2032, owing to the improved ride quality in cars, safe earthquake resistant buildings and agile robots with precise controls.

The powder segment held about 60% share of the magnetorheological fluid market in 2023, driven by versatile applications and ease of use across various industries.

U.S. market size for magnetorheological fluid was valued at USD 1.65 billion 2023, favored by the robust manufacturing capability, particularly in the automotive industry in the region.

Ferrofluidics Corporation, Ioniqa Technologies B.V., BASF SE, Industrial Metal Powders (I) Pvt. Ltd., LORD Corporation, CK Materials Lab Co., Ltd., Nippon Paint Holdings Co., Ltd., Beijing West Industries Co. Ltd. (BWI Group), Akebono Brake Industry Co., Ltd., Anton Paar GmbH, New Energy, & Industrial Technology Development Organization (NEDO), BASF Agricultural Solutions, Boron Rubbers India, TA Instruments and Liquids Research Limited.