The global market for magnetic particle fluids is growing by 15% annually and expected to double in size in five years from its 2019 level of $2.8 billion. It will reach $5.5 billion in 2024, according to a market research report, “Magnetorheological Fluid versus Ferro Fluids: Emerging Markets”, published by BCC Research.
Main applications for magnetic fluids are damping, sealing, precision polishing and mechanical power transmission, life sciences and audiology. Both types of fluids covered in the study are suspensions of magnetic particles but differ markedly in size.
Magnetorheological fluids, which have considerably larger particles sized typically 1 to 10 micrometers, are the dominant type in the market and account for about 95% of the market revenues. Ferrofluids have nanometer-sized magnetic particles, typically in the range of 1 to 100 nanometers. This enables them to maintain Brownian motion which helps the particles to remain in suspension in the liquid.
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