Magneto Rheological Fluids Market Value Share, Supply Demand, share and Value Chain 2017-2025

Magneto rheological fluids, more commonly known as MR fluids, are non – Newtonian smart fluids which have the ability to change their apparent viscosity when subjected to a magnetic field. These fluids have a large range of apparent viscosity, and can also turn into viscoelastic solids. The strength of the subjected magnetic field determines the relative change in apparent viscosity of the MR fluids. Due to viscosity changing ability, MR fluids find several uses in damping and shock absorbing applications. It also finds application in products such as prosthetic limbs, haptic displays, and body armor. Magneto rheological fluids are suspensions of magnetic particles in a liquid base. Various other chemicals such as surfactants and additives are often added to the fluid to enhance its properties. The magnetic particle size, liquid base, and materials also vary according to the applications.

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Magneto rheological fluids have been in research phase for a long time; however, in recent years, the demand for these smart fluids is on the rise. The benefits offered by magneto rheological fluids over conventional damper fluids are overwhelming. Conventional fluids cannot provide the required damping. For example, a low viscosity fluid damper results in an over damped suspension system whereas a high viscosity fluid damper results in an under damped suspension system. Also, on plain tarmac roads, less damping is required, which calls for higher viscosity damper fluids, and the reverse is true for off-road applications. These desired characteristics and changes can be achieved by a single system with MR fluids. This is expected to increase the demand for magneto rheological fluids in the coming years. Automobile application majorly drives demand. Military applications are also likely to generate huge demand for magneto rheological fluids in the future. Furthermore, MR fluid also has a potential to be used as primary fluid in robotics, especially humanoid robots. The versatility of magneto rheological fluids is already being used in prosthetic limbs for damping the shocks and jolts of the human body.

The magneto rheological fluids market, based on liquid base, can be segmented as silicone oil, mineral oil, hydrocarbon oil, water, and glycol. The use of liquid base varies as per the application and shear stress. Furthermore, the suspended magnetic particles used in magneto rheological fluids also vary. Ferromagnetic materials such as carbonyl iron powder, cobalt-iron alloy powder, nickel alloy powder, and electrolytic iron powder are widely used as suspension particles in magneto rheological fluids. Based on applications, magneto rheological fluids can be categorized as automobile, defense, electrical & electronics, building & construction, medical & prosthetics, robotics & bionics, and others. Automobile is a major application of magneto rheological fluids, with the demand largely generated from the luxury/sports vehicle segment. In the construction industry, magneto rheological fluid dampers are used to damp the vibrations of suspension and cable-stayed bridges. The robotics & bionics segment is also expected to create significant demand for magneto rheological fluids over the forecast period.

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In terms of geography, the magneto rheological fluids market can be segregated into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Europe and North America are key regions of the magneto rheological fluids market, due to the rising demand from automobile (especially from luxury vehicles segment) and defense applications. Furthermore, rise in construction industry and growth in infrastructure in countries such as Germany, France, the U.S., and Italy are fuelling the demand for magneto rheological fluids in Europe and North America. The magneto rheological fluids market in Asia Pacific and Latin America is also expanding rapidly due to the rise in automobile sales, infrastructure growth, and home appliances sales in the region. Countries such as Japan, China, and South Korea are rapidly advancing in the field of robotics, and thus are expected to create significant demand for magneto rheological fluids for robotics and bionics applications.

Prominent players operating in the global magneto rheological fluids market are BASF SE, Lord Corporation, and Liquid Research Ltd.

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