Magneto Rheological (MR) Fluid Market is expected to grow at a moderate rate during the forecast period 2018-2023. Magnetorheological fluid (MR fluid) is a smart fluid used as a carrier fluid, which increases its viscosity in the presence of a magnetic field. The MR fluid consists of micro and nano-sized magnetized iron particles suspended in a base fluid. The fluid can be used to design devices for different applications such as in the automotive sector, it is extensively used braking and clutching system. Major advantages of MR fluid include easy controllability, direct interface with electronics, easy construction of devices, and power efficiency and quick response.
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MR fluid has varied application in the automotive sector. It can be used in shock absorbers, dampers, and brakes in a vehicle. Major automotive companies such as General Motors, Chevrolet, Porsche, Acura, Audi has used MR fluid in their models. Moreover, the MR fluid has increasingly being used in civil infrastructure and household appliances. Major factors that are hampering the growth of the MR fluid market includes availability of limited commercial products and the high cost of high-quality MR fluid products. Lack of consumer awareness regarding the benefits of MR fluids, which includes its longevity, can be considered as another major threat acting in the growth of the market. However, the MR fluid is finding application in several military applications such as damper of military vehicles, bulletproof jackets, which is act as an opportunity for the growth of the market in the near future. There are several research projects being carried out to find the effectiveness of MR fluid as a protective element against earthquake in the building. Furthermore, the high investment made by the key players and research institute in the R&D of MR fluid further regarded as a major factor in the growth of the global MR fluid market in future.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global MR Fluid Market Report Segment
By Carrier Fluid
- Silicon Oil
- Mineral Oil
- Paraffin Oil
- Hydraulic Oil
- Synthetic Oil
- Others
By Application
- Automotive
- Electrical & Electronics
- Aerospace& Defense
- Medical & Prosthetics
- Others
Global MR Fluid Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
The report covers
- Comprehensive research methodology of global MR fluid market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global MR fluid market.
- Insights about market determinants which are stimulating the global MR fluid market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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