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 (2022-2032)
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.
Magneto Rheological Fluids Market Size (2022)
US$ 1.5 Billion
Projected Market Value (2032F)
US$ 7.9 Billion
Global Market Growth Rate (2022-2032)
United States Market Value (2022)
US$ 450 Million
Water Segment Market Growth Rate (2022-2032)
Germany Market Growth Rate (2022-2032)
Synthetic Hydrocarbon Oils Segment Market Value (2032F)
US$ 1.6 Billion
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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.
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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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.
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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.
Segments of Magneto Rheological Fluids Industry Research
By Base Fluid :
- Silicon Oils
- Mineral Oils
- Synthetic Hydrocarbon Oils
- Paraffin Oils
- Hydraulic Oils
By Application :
- Building & Construction
- Military & Defense
- Electrical & Electronics
- Medical & Prosthetics
- Other Industries
By Region :
- North America
- Latin America
- FAQs -
Worldwide sales of magneto rheological fluids account for a market value of US$ 1.5 billion in 2022.
Sales of MR fluids are expected to reach US$ 7.9 billion by 2032.
The MRF market is predicted to expand rapidly at 18% CAGR from 2022 to 2032.
Demand for synthetic hydrocarbon oils is anticipated to rise at 19% CAGR over the next ten years.
Sales of magnetorheological fluids in Japan are forecasted to rise at 15.9% CAGR through 2032.