According to the recent study the magnetorheological fluid market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 21% to 23% from 2023 to 2028. Growth in this market is primarily driven by growing use in base fluids in various end use industries, rising interest in smart materials, and surging usage of MR (magnetorheological) fluid in robotics in braking damping systems.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in magnetorheological fluid market by base fluid (silicon oil, mineral oil, synthetic hydrocarbon oil, paraffin oil, hydraulic oil, water, and others), application (automotive, aerospace, building construction, military defense, optics, electrical electronics, medical prosthetics, robotics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Synthetic hydrocarbon oil market is expected to remain the largest segment during the forecast period.”
Based on base fluid, the magnetorheological fluid market is segmented into silicon oil, mineral oil, synthetic hydrocarbon oil, paraffin oil, hydraulic oil, water, and others. Lucintel forecasts that the synthetic hydrocarbon oil market is expected to remain the largest segment as it is used with engine oils and gear oil due to its high thermal oxidative stability as well as low volatility.
“Within the magnetorheological fluid market, the automotive segment is expected to remain the largest application”
Based on application the automotive segment is expected to witness the highest growth over the forecast period due to increasing use of magnetorheological fluid in automotive industry for damping, braking, and clutching. Additionally, it is used as shock absorbers for vehicle suspension generally which is filled with fluid rather than plain oil or gas.
“North America will dominate the magnetorheological fluid market in near future”
North America will remain the largest region due to increase in adoption of industrial robots in various industries, such as building construction, automotive, aerospace, and existence of established infrastructure.
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Major players of magnetorheological fluid market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Kolektor, MRF Engineering, Ioniqa Technologies, Liquids Research, CK Materials Lab, ArProDEC, Industrial Metal Powders, Arus MR Tech, Lord, and Kurimoto are among the major magnetorheological fluid providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/magnetorheological-fluid-market.aspx or email@example.com