Global Magneto-Rheological Fluids (MRF) Market Research Report 2022 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Magneto-Rheological Fluids (MRF) – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Magneto-Rheological Fluids (MRF) Market to Reach $2.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Magneto-Rheological Fluids (MRF) estimated at US$927.6 Million in the year 2020, is projected to reach a revised size of US$2.4 Billion by 2026, growing at a CAGR of 17.2% over the analysis period.
Given its non-colloidal and controllable nature, the MR fluid finds use in a wide range of applications including braking, damping, and clutching systems in sectors such as robotics, optics, military and defense, building and construction, aerospace, and automotive.
Growth in the global is set to be fueled by growing use in applications in various end-use industries such as warehousing and robotics, defense, aerospace, prosthetics and medical, electrical appliances, and automotive.
The advantages of MR fluids such as low energy consumption, simple system configuration, and quicker response time are expected to foster their demand. Market growth is also favored by rising interest in smart materials, increasing R&D investments, and growing efforts for developing MR fluid-based systems and equipment, particularly in Europe and North America.
The growing focus on automation among producers, increasing adoption of robots, and surging usage of MR fluid in robotics in braking and damping systems are also supporting market growth. MR fluid is also registering rising use in prosthetic devices such as exoskeletons and knees due to the increased adaptability of the product to various gait conditions.
Synthetic Hydrocarbon Oil, one of the segments analyzed in the report, is projected to grow at a 18.2% CAGR to reach US$978.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Water segment is readjusted to a revised 17.7% CAGR for the next 7-year period. This segment currently accounts for a 21.3% share of the global Magneto-Rheological Fluids (MRF) market.
The U.S. Market is Estimated at $356.5 Million in 2021, While China is Forecast to Reach $273.7 Million by 2026
The Magneto-Rheological Fluids (MRF) market in the U.S. is estimated at US$356.5 Million in the year 2021. The country currently accounts for a 34.85% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$273.7 Million in the year 2026 trailing a CAGR of 20.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.3% and 15.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 16.3% CAGR while Rest of European market (as defined in the study) will reach US$330 Million by the end of the analysis period. North America and Europe represent the leading regional markets for MR fluids.
In North America, the MR fluids market is being driven by the increasing use of automation technology in the manufacturing sector, growing adoption of robots in several industries, and existence of established infrastructure. Strong growth in Europe market is due to rising demand for automobiles, robots, electronic appliances, and washing machines. In Asia-Pacific region, growth is being driven by flourishing robotics market, wherein the product is employed to augment effectiveness and efficiency.
Silicon Oil Segment to Reach $413.8 Million by 2026
In the global Silicon Oil segment, USA, Canada, Japan, China and Europe will drive the 16.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$136.4 Million in the year 2020 will reach a projected size of US$404.5 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$39.8 Million by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- Industrial Activity to Remain Subdued in the Immediate Term
- Magneto-Rheological Fluids Market: An Introduction
- Components of MR Fluid
- Key Application Areas of MR Fluids
- Global Market Prospects & Outlook
- Developed Regions Lead, Developing Economies to Boost Long-term Growth
- Recent Market Activity
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 18 Featured)
- Akebono Brake Industry Co., Ltd.
- Anton Paar GmbH
- Arus MR Tech Pvt Ltd.
- CK Materials Lab Co., Ltd.
- Industrial Metal Powders (I) Pvt Ltd.
- Ioniqa Technologies B.V.
- Kurimoto, Ltd.
- Liquids Research Limited
- LORD Corporation
- MRF Engineering
- QED Technologies International, Inc.
3. MARKET TRENDS & DRIVERS
- Highly Stable Magneto Rheological Fluids to Expand Application Horizons
- Automotive Industry Emerges as a Major End-Use Market for MR Fluids
- MR Fluid Finds Use in Aerospace Industry
- Rapid Growth of Robotics Industry Presents Opportunity for MR Fluid Market
- Soft Robots to Benefit from MRF Fluids
- Growing Role of MR Fluid Dampers in Vibration Protection Construction & Civil Infrastructure Projects
- Number of Earthquakes Around the World (2010-2020)
- MR Fluids in Biomedical Space Holds Tremendous Potential
- MR Fluids Emerge as Novel Body Armor Materials to Improve Soldier Survivability
- MR Fluid Dampers for Vibration in Washing Machines
- Rising Importance of Smart Materials in Haptic Actuators Presents Opportunity for the Market
- Magneto Rheological Fluids to Find Potential Applications in Oil & Gas Industry
- Magneto Rheological Finishing Set to Transform Precision Optics Domain
- Lubricating Greases Elevate Performance of Magneto Rheological Fluids
- Use of Lubricating Grease to Overcome Issues
- Magneto Rheological Fluids as Sealants in Micro Motors
- Emerging Applications of MR Fluids: An Overview
- Challenges Facing Preparation & Use of MR Fluids
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/91uzam
Laura Wood, Senior Press Manager
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