Magneto Rheological Fluid Market - Overview
Magneto rheological fluid (MR fluid or MRF) can be defined as smart and controllable fluids. It is a non-colloidal mixture of ferromagnetic particles randomly dispersed in oil or water, along with surfactants used to avoid the settling of suspended particles. MR fluid, when subjected to magnetic field, quickly increases its apparent viscosity and becomes a viscoelastic solid. Similarly, when the magnetic field is removed, the MR fluid changes back to its original liquid state. These properties are highly useful in applications such as damping and braking and clutching systems in industries such as automotive, aerospace, building & construction, military & defense, optics, and robotics. MR fluid requires state-of-the-art technology and is a capital intensive market. Therefore, just a few companies operate in the MR fluid market. However, increase in consumer awareness about the benefits of using MR fluid technology is expected to boost the usage of the fluid in the near future. Asia Pacific was the dominant consumer of MR fluids in 2017. This trend is anticipated to continue during the forecast period. Asia Pacific is estimated to be followed by North America, Europe, Latin America, and Middle East & Africa.
This report analyzes and forecasts the MR fluid market at the global and regional level. The market has been forecast based on volume (liters) and revenue (US$ Mn) from 2017 to 2026. The study includes drivers and restraints of the global MR fluid market. It also covers the impact of these drivers and restraints on demand for MR fluid during the forecast period. The report also highlights the opportunities in the MR fluid market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global MR fluid market. Porter’s Five Forces model for the MR fluid market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global MR fluid market by segmenting it in terms of base fluid, application, and region. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for MR fluid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual segments in all the regions.
The study includes profiles of major companies operating in the global MR fluid market. Just 10 companies operate in the global MR fluid market. They are Lord Corporation, Arus MR Tech, CK Materials Lab, Liquids Research Limited, Ioniqa Technologies, QED Technologies, Industrial Metal Powders (I) Pvt. Ltd., ArProDEC, Kolektor Group, and MRF Engineering LLC. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report provides the estimated market size of MR fluid for 2017 and forecast for the next nine years. The global market size of MR fluid has been provided in terms of revenue and volume. Market numbers have been estimated based on key base fluids, applications, and regions of the MR fluid market. Market size and forecast for each major type has been provided in terms of global and regional/country markets.
Key Takeaways of Study
The global MR fluid market has been segmented as follows:
MR Fluid Market, by Base Fluid
MR Fluid Market, by Application
MR Fluid Market, by Region
MRRSE offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.Get A Free Custom Research Quote