Magneto-Rheological Fluids (MRF) Market
Magneto-Rheological Fluids (MRF) Market Analysis, By Base Fluid (Silicon Oils, Mineral Oils, Synthetic Hydrocarbon Oils, Paraffin Oils, Hydraulic Oils, Water), By Application (Automotive, Aerospace, Building & Construction, Military & Defense, Optics, Others), & Region - Global Market Insights 2022 to 2032
Analysis of Magneto-Rheological Fluids (MRF) Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Magneto-Rheological Fluids (MRF) Market Outlook (2022 to 2032)
Currently, worldwide demand for magneto-rheological fluids accounts for a market value of US$ 1.5 billion and is forecasted to reach US$ 7.5 billion by the end of 2032. The global magneto-rheological fluids (MRF) market is anticipated to surge ahead at an impressive CAGR of 18% over the next ten years.
Advancements in technology have resulted in high demand for smart materials across several industry verticals due to their ability to change one or more properties when subject to certain external stimuli. Magneto rheological fluids have recently emerged as one of the most popular smart materials in the industry and the rising use of smart materials in various applications is projected to bolster market development in the future.
Magneto rheological fluids change their viscosity and transform into a viscoelastic solid state once subjected to a magnetic field and change back to their liquid state in the absence of a magnetic field. Magneto rheological fluid technology is being extensively used in braking, clutching, and damping systems for the aerospace and automotive industry verticals.
- Cadillac, an American automobile manufacturer is deploying its magnetorheological suspension system called Magnetic Ride Control that continuously adjusts a magnetic field to change the viscosity of shock fluid and provide a smooth ride experience irrespective of drive mode or road conditions.
Rising automotive production, increasing investments in MRF technology research & development, growing adoption of smart materials in several applications, rapid advancements in robotics, and increasing use of MR liquids in biotechnology and medical applications are key prospects that could promulgate magnetorheological liquid sales going forward.
The MRF market in Asia Pacific is anticipated to exhibit a highly lucrative demand outlook across the forecast period owing to the growing demand for automation, increasing automotive production, and technological innovations in the manufacturing sector. China is expected to be a key market in this region and demand for magnetorheological liquids in China is slated to progress at a phenomenal 21.5% CAGR through 2032.
On the flip side, the lack of awareness of the benefits associated with the use of magnetorheological fluids is expected to have an impeding effect on the overall magneto-rheological (MR) fluid market evolution over the coming years.
This new magneto rheological fluids industry research by Fact.MR, a market research and competitive intelligence provider, details a comprehensive account of all the key trends, restraints, opportunities, and challenges affecting market development over the forecast period.
| Report Attributes | Details |
|---|---|
| Magneto Rheological Fluids Market Size (2022) | US$ 1.5 Billion |
| Projected Market Value (2032F) | US$ 7.9 Billion |
| Global Market Growth Rate (2022 to 2032) | 18% CAGR |
| United States Market Value (2022) | US$ 450 Million |
| Water Segment Market Growth Rate (2022 to 2032) | 18.5% CAGR |
| Germany Market Growth Rate (2022 to 2032) | 17% CAGR |
| Synthetic Hydrocarbon Oils Segment Market Value (2032F) | US$ 1.6 Billion |
| Key Companies Profiled | QED Technologies; CK Materials Lab Co. Ltd.; ArProDEC; Liquid Research Limited; MRF-ENGINEERING; Kolektor Group; KURIMOTO Ltd.; Liquids Research Limited; Ioniqa Technologies; Akebono Brake Industry Co. Ltd.; Lord Corporation; Arus MR Tech; Industrial Metal Powders (India) Pvt. Ltd.; Anton Paar GmbH |
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How Can New Entrants Make a Mark in the MRF Market?
“Start-ups Should Invest in R&D of Novel Products”
MR liquids are smart materials that have been gaining traction in the past couple of decades but the lack of awareness among consumers has limited the market potential to a certain extent, which leaves out a lot of room for opportunity for new entrants in the market.
Aspiring magneto rheological fluid companies could focus on the application of magnetorheological fluids in prosthetics, robotics, etc. to create a name for themselves in the global marketplace. Upcoming market players could create new haptic knobs that deploy magnetorheological liquids to provide precise haptic feedback.
Increasing use of magneto rheological fluid technology-based suspension and damping systems in vehicles are also expected to provide new opportunities for magneto rheological fluids market players over the coming years.
Country-wise Insights
What is the Magneto Rheological Fluid Demand Outlook for the U.S.?
“Rapid Adoption of Novel Technologies Driving U.S. Market Growth Potential”
The United States is known for the quick adoption and development of novel technologies, which makes it a highly lucrative market for magneto-rheological fluids (MRF) as well. The rising popularity of automation, the growing use of robotics, and increasing investments in research and development are some of the prime factors that are expected to propel sales of magneto rheological fluids over the next ten years.
Moreover, advancements in medical & prosthetics applications are also expected to boost demand for magneto rheological fluids in the United States owing to the presence of developed healthcare infrastructure and high healthcare spending potential. Shipments of magneto rheological fluids in the United States at present are estimated to account for a value of US$ 450 million.
Will Japan Be a Bankable Market for Magneto Rheological Fluid Manufacturers?
“Advancements in Robotics Technology Will Offer Attractive Business Scope”
The robotics industry in Japan is known across the world as one of the most advanced ones and this makes it a highly attractive MRF market as magneto rheological fluids are being extensively used in robotics. The rising adoption of robots and the increasing trend of automation are other factors that could boost magnetorheological fluid demand in Japan throughout the forecast period.
The Japan MRF market is predicted to exhibit expansion at a stellar 15.9% CAGR from 2022 to 2032. Demand for MR fluids in Korea is also anticipated to have a bright outlook and will be governed by the automotive industry in the country.
Which European Countries are Beneficial MRF Markets?
“Germany & United Kingdom to Be Lucrative European Markets”
Rising demand for automation and the presence of key automotive manufacturers in Germany is expected to prominently influence MR fluid sales over the coming years. Advancements in robotics and prosthetic technologies are also expected to fuel magneto rheological fluid demand in the European region through 2032.
Shipments of magnetorheological liquids in Germany are slated to increase at a 17% CAGR over the next ten years.
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Category-wise Insights
Which Application Accounts for Highest Magnetorheological Liquid Sales?
“Automotive Applications Driving Shipments of Magneto Rheological Fluids”
Based on application, the market for magneto rheological fluids is segmented into automotive, aerospace, building & construction, military & defense, optics, electrical & electronics, medical & prosthetics, robotics, and other applications.
The automotive industry is anticipated to witness the highest demand for magnetorheological fluids over the coming years and this can be ascribed to the development and deployment of magnetorheological liquid-based braking systems, clutching systems, and dampers. MRF-based systems are more responsive and effective and this is a prime factor that is projected to promote their adoption by prime automotive companies. It is estimated that in the next 20 years almost 50% of all vehicles could be using MRF-based suspension systems.
Increasing automotive production across the world and rising sales of vehicles are also expected to benefit magneto rheological fluid demand in the future. Sales of magnetorheological fluid-based systems in the aerospace industry are also expected to witness a notable increase as technology advances.
Which Base Fluid Will Witness High Demand through 2032?
“Synthetic Hydrocarbon Oils Set to Lead Market Demand”
Based on base fluid, the magneto rheological fluids market is segmented into silicon oils, mineral oils, synthetic hydrocarbon oils, paraffin oils, hydraulic oils, water, and others.
Synthetic hydrocarbon oils are anticipated to be at the forefront of global market development in the future owing to their high use in the automotive industry as gear oil, engine oil, etc. Demand for synthetic hydrocarbon oils is expected to rise at an astronomical 19% CAGR over the next ten years and is estimated to account for a revenue valuation of US$ 1.6 billion by the end of 2032. Meanwhile, demand for water is projected to increase at an 18.5% CAGR across the forecast period till 2032.
Competitive Landscape
Key players in the magneto rheological fluids market are expected to focus on mergers, acquisitions, and collaborations that will help them advance their research scope and expand their product portfolio. These strategies will also help magneto rheological fluid providers bolster their market presence.
- In March 2022, Aequita, a German industrial group announced its plans to acquire ZF Friedrichshafen AG’s electronic interfaces product line. The company aims to acquire and unlock potential associated with actuator technology involving magnetorheological fluids for haptic control.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Segments of Magneto Rheological Fluids Industry Research
-
By Base Fluid :
- Silicon Oils
- Mineral Oils
- Synthetic Hydrocarbon Oils
- Paraffin Oils
- Hydraulic Oils
- Water
- Others
-
By Application :
- Automotive
- Aerospace
- Building & Construction
- Military & Defense
- Optics
- Electrical & Electronics
- Medical & Prosthetics
- Robotics
- Other Industries
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Key Success Factors
- 5. Market Background
- 7. Global Market Volume (Units) Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 8. Global Market - Pricing Analysis
- 9. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Base Fluid
- 10.1. Silicon Oils
- 10.2. Mineral Oils
- 10.3. Synthetic Hydrocarbon Oils
- 10.4. Paraffin Oils
- 10.5. Hydraulic Oils
- 10.6. Water
- 10.7. Others
- 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application
- 11.1. Automotive
- 11.2. Aerospace
- 11.3. Building & Construction
- 11.4. Military & Defense
- 11.5. Optics
- 11.6. Electrical & Electronics
- 11.7. Medical & Prosthetics
- 11.8. Robotics
- 11.9. Other Industries
- 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region
- 12.1. North America
- 12.2. Latin America
- 12.3. Europe
- 12.4. East Asia
- 12.5. South Asia
- 12.6. Oceania
- 12.7. Middle East and Africa (MEA)
- 13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 16. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 17. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 18. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 19. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 20. Key and Emerging Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
- 21. Market Structure Analysis
- 22. Competition Analysis
- 22.1. QED Technologies
- 22.2. CK Materials Lab Co. Ltd.
- 22.3. ArProDEC
- 22.4. Liquid Research Limited
- 22.5. MRF-ENGINEERING
- 22.6. Kolektor Group
- 22.7. KURIMOTO Ltd.
- 22.8. Liquids Research Limited
- 22.9. Ioniqa Technologies
- 22.10. Akebono Brake Industry Co. Ltd.
- 22.11. Lord Corporation
- 22.12. Arus MR Tech
- 22.13. Industrial Metal Powders (India) Pvt. Ltd.
- 22.14. Anton Paar GmbH
- 23. Assumptions and Acronyms Used
- 24. Research Methodology
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List Of Table
Table 01: Global Market Volume (‘000 Units) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 02: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 03: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 04: Global Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Region
Table 05: North America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 06: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 07: North America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 08: Latin America Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 09: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 10: Latin America Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 11: Europe Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 12: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 13: Europe Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 14: South Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 15: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 16: South Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 17: East Asia Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 18: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 19: East Asia Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 20: Oceania Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 21: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 22: Oceania Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
Table 23: Middle East and Africa Market Value (US$ Mn) Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
Table 24: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Base Fluid
Table 25: Middle East and Africa Market Value (US$ Mn) Analysis and Opportunity Assessment 2017 to 2032, By Application
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List Of Figures
Figure 01: Global Market Volume (in 000' Units) Analysis, 2017 to 2021
Figure 02: Global Market Volume Forecast (in 000' Units), 2022 to 2032
Figure 03: Pricing Analysis (US$) Per Base Fluid, By Region, 2021
Figure 04: Pricing Analysis (US$) Per Base Fluid, By Region, 2021
Figure 05: Global Market Value Analysis (US$ Mn), 2017 to 2021
Figure 06: Global Market Value Forecast (US$ Mn), 2022 to 2032
Figure 07: Global Market Absolute $ Opportunity, 2022 to 2032
Figure 08: Global Market Share Analysis (%), By Base Fluid, 2022 to 2032
Figure 09: Global Market Y-o-Y Analysis (%), By Base Fluid, 2022 to 2032
Figure 10: Global Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 11: Global Market Share Analysis (%), By Application, 2022 to 2032
Figure 12: Global Market Y-o-Y Analysis (%), By Application, 2022 to 2032
Figure 13: Global Market Attractiveness Analysis by Application, 2022 to 2032
Figure 14: Global Market Share Analysis (%), By Region, 2022 to 2032
Figure 15: Global Market Y-o-Y Analysis (%), By Region, 2022 to 2032
Figure 16: Global Market Attractiveness Analysis by Region, 2022 to 2032
Figure 17: North America Market Value Share, By Base Fluid, 2022 (E)
Figure 18: North America Market Value Share, By Application, 2022 (E)
Figure 19: North America Market Value Share, By Country, 2022 (E)
Figure 20: North America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 21: North America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 22: North America Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis by Application, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 25: Latin America Market Value Share, By Base Fluid, 2022 (E)
Figure 26: Latin America Market Value Share, By Application, 2022 (E)
Figure 27: Latin America Market Value Share, By Country, 2022 (E)
Figure 28: Latin America Market Value Analysis (US$ Mn), 2017 to 2021
Figure 29: Latin America Market Value Forecast (US$ Mn), 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 31: Latin America Market Attractiveness Analysis by Application, 2022 to 2032
Figure 32: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 33: Europe Market Value Share, By Base Fluid, 2022 (E)
Figure 34: Europe Market Value Share, By Application, 2022 (E)
Figure 35: Europe Market Value Share, By Country, 2022 (E)
Figure 36: Europe Market Value Analysis (US$ Mn), 2017 to 2021
Figure 37: Europe Market Value Forecast (US$ Mn), 2022 to 2032
Figure 38: Europe Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by Application, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 41: South Asia Market Value Share, By Base Fluid, 2022 (E)
Figure 42: South Asia Market Value Share, By Application, 2022 (E)
Figure 43: South Asia Market Value Share, By Country, 2022 (E)
Figure 44: South Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 45: South Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 46: South Asia Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 47: South Asia Market Attractiveness Analysis by Application, 2022 to 2032
Figure 48: South Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 49: East Asia Market Value Share, By Base Fluid, 2022 (E)
Figure 50: East Asia Market Value Share, By Application, 2022 (E)
Figure 51: East Asia Market Value Share, By Country, 2022 (E)
Figure 52: East Asia Market Value Analysis (US$ Mn), 2017 to 2021
Figure 53: East Asia Market Value Forecast (US$ Mn), 2022 to 2032
Figure 54: East Asia Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 55: East Asia Market Attractiveness Analysis by Application, 2022 to 2032
Figure 56: East Asia Market Attractiveness Analysis by Country, 2022 to 2032
Figure 57: Oceania Market Value Share, By Base Fluid, 2022 (E)
Figure 58: Oceania Market Value Share, By Application, 2022 (E)
Figure 59: Oceania Market Value Share, By Country, 2022 (E)
Figure 60: Oceania Market Value Analysis (US$ Mn), 2017 to 2021
Figure 61: Oceania Market Value Forecast (US$ Mn), 2022 to 2032
Figure 62: Oceania Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 63: Oceania Market Attractiveness Analysis by Application, 2022 to 2032
Figure 64: Oceania Market Attractiveness Analysis by Country, 2022 to 2032
Figure 65: Middle East and Africa Market Value Share, By Base Fluid, 2022 (E)
Figure 66: Middle East and Africa Market Value Share, By Application, 2022 (E)
Figure 67: Middle East and Africa Market Value Share, By Country, 2022 (E)
Figure 68: Middle East and Africa Market Value Analysis (US$ Mn), 2017 to 2021
Figure 69: Middle East and Africa Market Value Forecast (US$ Mn), 2022 to 2032
Figure 70: Middle East and Africa Market Attractiveness Analysis by Base Fluid, 2022 to 2032
Figure 71: Middle East and Africa Market Attractiveness Analysis by Application, 2022 to 2032
Figure 72: Middle East and Africa Market Attractiveness Analysis by Country, 2022 to 2032
Figure 73: U. S. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 74: U. S. Market Value Share, By Base Fluid, 2022 (E)
Figure 75: U. S. Market Value Share, By Application, 2022 (E)
Figure 76: Canada Market Value Analysis (US$ Mn), 2022 & 2032
Figure 77: Canada Market Value Share, By Base Fluid, 2022 (E)
Figure 78: Canada Market Value Share, By Application, 2022 (E)
Figure 79: Mexico Market Value Analysis (US$ Mn), 2022 & 2032
Figure 80: Mexico Market Value Share, By Base Fluid, 2022 (E)
Figure 81: Mexico Market Value Share, By Application, 2022 (E)
Figure 82: Brazil Market Value Analysis (US$ Mn), 2022 & 2032
Figure 83: Brazil Market Value Share, By Base Fluid, 2022 (E)
Figure 84: Brazil Market Value Share, By Application, 2022 (E)
Figure 85: U. K. Market Value Analysis (US$ Mn), 2022 & 2032
Figure 86: U. K. Market Value Share, By Base Fluid, 2022 (E)
Figure 87: U. K. Market Value Share, By Application, 2022 (E)
Figure 88: Germany Market Value Analysis (US$ Mn), 2022 & 2032
Figure 89: Germany Market Value Share, By Base Fluid, 2022 (E)
Figure 90: Germany Market Value Share, By Application, 2022 (E)
Figure 91: France Market Value Analysis (US$ Mn), 2022 & 2032
Figure 92: France Market Value Share, By Base Fluid, 2022 (E)
Figure 93: France Market Value Share, By Application, 2022 (E)
Figure 94: Italy Market Value Analysis (US$ Mn), 2022 & 2032
Figure 95: Italy Market Value Share, By Base Fluid, 2022 (E)
Figure 96: Italy Market Value Share, By Application, 2022 (E)
Figure 97: Spain Market Value Analysis (US$ Mn), 2022 & 2032
Figure 98: Spain Market Value Share, By Base Fluid, 2022 (E)
Figure 99: Spain Market Value Share, By Application, 2022 (E)
Figure 100: Russia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 101: Russia Market Value Share, By Base Fluid, 2022 (E)
Figure 102: Russia Market Value Share, By Application, 2022 (E)
Figure 103: China Market Value Analysis (US$ Mn), 2022 & 2032
Figure 104: China Market Value Share, By Base Fluid, 2022 (E)
Figure 105: China Market Value Share, By Application, 2022 (E)
Figure 106: Japan Market Value Analysis (US$ Mn), 2022 & 2032
Figure 107: Japan Market Value Share, By Base Fluid, 2022 (E)
Figure 108: Japan Market Value Share, By Application, 2022 (E)
Figure 109: South Korea Market Value Analysis (US$ Mn), 2022 & 2032
Figure 110: South Korea Market Value Share, By Base Fluid, 2022 (E)
Figure 111: South Korea Market Value Share, By Application, 2022 (E)
Figure 112: India Market Value Analysis (US$ Mn), 2022 & 2032
Figure 113: India Market Value Share, By Base Fluid, 2022 (E)
Figure 114: India Market Value Share, By Application, 2022 (E)
Figure 115: ASEAN Market Value Analysis (US$ Mn), 2022 & 2032
Figure 116: ASEAN Market Value Share, By Base Fluid, 2022 (E)
Figure 117: ASEAN Market Value Share, By Application, 2022 (E)
Figure 118: Australia Market Value Analysis (US$ Mn), 2022 & 2032
Figure 119: Australia Market Value Share, By Base Fluid, 2022 (E)
Figure 120: Australia Market Value Share, By Application, 2022 (E)
Figure 121: New Zealand Market Value Analysis (US$ Mn), 2022 & 2032
Figure 122: New Zealand Market Value Share, By Base Fluid, 2022 (E)
Figure 123: New Zealand Market Value Share, By Application, 2022 (E)
Figure 124: GCC Countries Market Value Analysis (US$ Mn), 2022 & 2032
Figure 125: GCC Countries Market Value Share, By Base Fluid, 2022 (E)
Figure 126: GCC Countries Market Value Share, By Application, 2022 (E)
Figure 127: Turkey Market Value Analysis (US$ Mn), 2022 & 2032
Figure 128: Turkey Market Value Share, By Base Fluid, 2022 (E)
Figure 129: Turkey Market Value Share, By Application, 2022 (E)
Figure 130: South Africa Market Value Analysis (US$ Mn), 2022 & 2032
Figure 131: South Africa Market Value Share, By Base Fluid, 2022 (E)
Figure 132: South Africa Market Value Share, By Application, 2022 (E)
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the current magneto rheological fluids market value?
Worldwide sales of magneto rheological fluids account for a market value of US$ 1.5 billion in 2022.
What is the projected MRF market valuation?
Sales of MR fluids are expected to reach US$ 7.9 billion by 2032.
At what CAGR will magnetorheological fluid demand increase?
The MRF market is predicted to expand rapidly at 18% CAGR from 2022 to 2032.
Which type of base fluid is set to be the most popular?
Demand for synthetic hydrocarbon oils is anticipated to rise at 19% CAGR over the next ten years.
How fast will demand for MR liquids surge in Japan?
Sales of magnetorheological fluids in Japan are forecasted to rise at 15.9% CAGR through 2032.
Magneto-Rheological Fluids (MRF) Market