The global magnetite nanoparticles market size was valued at USD 43.9 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2019 to 2027. Increasing demand for the product in end-use industries such as bio-medical, wastewater treatment, electronics, and energy is expected to drive the market.

Description

The global magnetite nanoparticles market size was valued at USD 43.9 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2019 to 2025. Increasing demand for the product in application industries such as bio-medical, electronics, wastewater treatment, and energy is expected to drive the market.

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 Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and analyzes the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global magnetite nanoparticles market report based on application and regional:

• Application Outlook (Revenue, Thousand USD, 2017 - 2027)
  • Bio-medical
  • Electronics
  • Wastewater Treatment
  • Energy
  • Others

Application Insights

The bio-medical segment is expected to advance at a CAGR of 10.9%, in terms of revenue, over the forecast period. The medical diagnosis of several illnesses is expected to witness a surge owing to affordable health plans provided by private organizations and increasing average life expectancy. An increase in life-threatening and chronic disorders is anticipated to augment the demand for the product over the forecast period. The application of magnetite nanoparticles is witnessing significant growth owing to the rising penetration of the product as nanowires, spintronics, and quantum dots in the nanoelectronics industry. Furthermore, rapid developments in the electronics industry on increasing demand for high-tech products are likely to impact the product demand over the forecast period positively.

The energy segment was valued at USD 2.8 million in 2018 owing to the increasing utilization of the product in photovoltaic film coatings, batteries, and fuel cells. In addition, nanomaterials are extensively utilized in research activities for obtaining efficient prototype solar panels, thermoelectric materials, and nano-bioengineering of enzymes. Magnetite nanoparticles are used in high gradient magnetic separation (HGMS) techniques for wastewater treatment owing to their high adsorption properties. Other advantages of using the product for wastewater treatment include decreased generation and transportation of sludge and reduced disposal costs.

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 Regional Insights

The North American economy is characterized by high diversity due to major developed and advanced economies such as the U.S. and Canada. Continuous efforts in the research & development of magnetite nanoparticles to explore potential product applications in various end-use industries are expected to drive this regional market over the forecast period.

Rising health awareness in Germany has resulted in augmented demand for clinical analysis and therapeutic solutions. Increasing adoption of magnetite nanoparticles for diagnosis and treatment of various medical conditions such as cancer and brain tumor is expected to augment their demand in biomedical applications in Europe.

The substantial growth of the electronics industry in the Asia Pacific due to the presence of notable semiconductor industry is expected to positively impact the demand for magnetite nanoparticles in electronics applications over the forecast period. Rising product demand from microelectronics and nanoelectronics to increase utilization of advanced devices is further anticipated to augment the market growth.

The Central & South America (CSA) market for magnetite nanoparticles is anticipated to witness sluggish growth on account of political instability. This factor is anticipated to restrain the regional market despite the growth capabilities due to inexpensive labor and floor space for manufacturing and research facilities.

Key Companies & Market Share Insights

The market for magnetite nanoparticles is characterized by the presence of local as well as regional players. Some market players include Nanografi Nano Technology, US Research Nanomaterials, Inc., and Nanoshell LLC. Market players are offering customized products to sustain the market competition.

For instance, Strem Chemicals, Inc. and American Elements provide magnetite nanoparticles with standard and customized technical specifications to better serve customer needs. The increasing inclination of the companies in the market toward developing and implementing new technologies in different application industries is anticipated to augment the demand for magnetite nanoparticles. Some of the prominent players in the magnetite nanoparticles market include:

• Nanografi Nano Technology
• US Research Nanomaterials, Inc.
• Nanoshell LLC

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