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Global Ferro Fluids Market to Grow at a CAGR of 5.2% During 2022-2027, Aided by the Increasing Demand for High Quality Electronics and Sealants
According to a new report by EMR titled, ‘Global Ferro Fluids Market Report and Forecast 2022-2027’, the global ferro fluids industry reached a value of about USD 54 million in 2020. The market is further expected to grow at a CAGR of 5.2% in the forecast period of 2022-2027.
Ferro fluids find numerous applications in optics-based products, owing to their liquid and magnetic properties. For instance, they are used in the production of optical switches, optical grating, nonlinear optical materials, magneto-optical wavelength filter, tuneable optical fibre filter, and optical modulators, among others. Ferro fluids can be used in the production of liquid seals that offer long-term stability in ion implanters, vacuum furnaces, arch dischargers, vacuum chunk mechanism, gas induction mechanism, x-ray generators, robots, epitaxial growth system, etching system, CVD equipment, and pump applications, among others. Ferro fluids are currently being utilised in the manufacturing of loudspeakers because these fluids can eliminate heat from the voice coil and passively decelerate the cone’s movement. Furthermore, ferro fluids are deployed in the non-destructive testing of several components like turbine blades, magnetic tapes, and stainless steels.
Some key industrial developments have shown the potential to be the key drivers of the market growth in the near future. For instance, Gamma Biosciences, which is a life sciences tool platform, has recently made the acquisition of BioMagnetic Solutions (BMS), which is a company that works with bio-separation and next-gen cell selection technology. BMS has successfully used nanoscale ferro fluids for the development of immunomagnetic cell separation systems, which can now be used for several bio-separation applications. Hence, important developments like this can help in propelling the future growth of the ferro fluids market.
Market Analysis by Product Type, Application, and Region:
- The market on the basis of product type can be divided into hydrocarbon solvent based, water based, oil based, and powder based.
- Based on application, the industry can be divided into medicine, cell separation, aerospace and defence, magnetic resonance imaging, analytical equipment, and electronics, among others.
- The regional markets for ferro fluids include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Key Findings of the Report:
- The increasing demand for high quality electronics and sealants is a key driver of the market.
- Large investments on R&D can propel the growth of the market.
- The application of ferro fluids in the medical equipment industry can play a pivotal role in determining the industry’s progress.
- The Asia Pacific region is expected to provide the market with immense growth opportunities.
Key Offerings of the Report:
- The EMR report gives an overview of the ferro fluids industry for the periods (2017-2021) and (2022-2027).
- The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the product type, application, and regions of ferro fluids.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.
The major players in the global ferro fluids market are Ferrotec Corporation, Liquid Research Limited, and Anncera LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
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