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Magnetite Nanoparticles Market Size, Share Global Analysis Report, 2022 – 2028
Magnetite Nanoparticles Market By Type (Iron-Based, Cobalt Based, Others), By Application (Electronics, Wastewater Treatment, Energy, Medical, Others), and By Region - Global Insights, Growth, Size, Share, Comparative Analysis, Trends and Forecast 2022 – 2028
Industry Insights
[205+ Pages Report] According to Facts and Factors, The global magnetite nanoparticles market was valued at USD 59.02 million in 2021 and is predicted to increase at a CAGR of 10.62% to USD 109.23 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
Market Overview
The global magnetite nanoparticles market is primarily growing due to the popularity of magnetic storage devices. Advancements in medicine and healthcare are projected to propel the worldwide magnetite nanoparticles market during the forecast period. Rapid developments in the electronics industry attributed to rising demand for high-tech products are contributing to the product demand. Magnetite nanoparticles are extensively used in MRI scans as a contrasting agent Furthermore, the necessary requirements for catalysis in a wide range of chemical reactions have resulted in significant market demand during the forecast period.
Increased demand for magnetite nanoparticles in microelectronics and nanoelectronics, owing to the increased use of advanced devices, is propelling market expansion in the region. Also, prominent industry players are continuously engaged in offering innovative magnetite nanoparticle-based solutions to cater to the growing customer demands which are likely to drive the market growth during the forecast period. Moreover, the need for magnetite nanoparticles in medical testing and diagnosis shall play an integral role in market growth. Besides, raw materials including surfactants, polymers, ferric chloride, sodium hydroxide, and magnetite effect and their fluctuation in prices also have an impact on the major players and their manufacturing costs. This factor restrains the global magnetite nanoparticle market growth.
Impact of COVID - 19
The global magnetite nanoparticles market has slowed due to the COVID-19 epidemic. As demand for the product fell sharply from end-use sectors, the market faced several challenges. The large volume of Magnetite Nanoparticles companies felt the impact of the COVID-19 pandemic in multiple dimensions and are now emphasizing sustained growth over the long-term future Some of the most affected industries are energy and power, healthcare, construction and more. As a result of these being major end-users of magnetite nanoparticles, the global industry had to deal with huge revenue losses. Even the imbalance in demand and supply gap brought on by the crisis slowed down the market growth rate.
The pandemic caused a substantial slowdown in the wastewater treatment and energy industries. As a result, it influenced the global magnetite nanoparticles market. Manufacturers are comprehending strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation. Government supporting research and development and providing financial aid to the best firms, the worldwide market is quickly rebounding. The duration of the virus outbreak remains a key factor in assessing the overall impact of the pandemic. However, the global Magnetite Nanoparticles industry is expected to stabilize after 2021.
Segmentation Analysis
The global magnetite nanoparticles market is segregated based on product type, applications and region.
In terms of product type, the Iron category is expected to witness significant growth during the forecasted period The demand for iron oxide nanoparticles is expected to index growth due to unique properties such as superparamagnetic, easy separation methodology, high surface area, and volume-to-surface area.
In terms of applications, the medical segment holds the major revenue share in the market during the forecast period. Factors such as a surge in affordable healthcare plans as well as a rise in the number of life-threatening chronic disorders are responsible for the significant growth of this segment. The rising acceptance of magnetite nanoparticles for the diagnosis/treatment of medical conditions such as brain tumors, cancer, etc. is projected to increase their demand for biomedical applications. Moreover, the medical diagnosis of some illnesses is expected to witness significant growth because of cheap health plans provided by private organizations and rising average life expectancy.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 59.02 Million |
Projected Market Size in 2028 |
USD 109.23 Million |
CAGR Growth Rate |
10.62% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Strem Chemicals Inc, Nanoshel LLC, Reade International Corp., nanoComposix, Certifications Cytodiagnostics Inc, and Others |
Key Segment |
By Type, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Regional Landscape
North America is predicted to hold the highest share in the Magnetite Nanoparticles market during the forecast period due to political instability. The rising use of nanotechnology-based devices based on production and application, especially in the U.S. will further flourish the growth of the market in this region. The other factors propelling the growth of the market in this region include the availability of cheap labor and favorable government policies.
List of Key Players in the Global Magnetite Nanoparticles Market:
- Strem Chemicals, Inc
- Nanoshel LLC
- Reade International Corp.
- nanoComposix
- Certifications Cytodiagnostics Inc
The global magnetite nanoparticles market is segmented as follows;
Based on Type
- Iron-Based
- Cobalt Based
- Others
Based on Application
- Electronics
- Wastewater Treatment
- Energy
- Medical
- Others
Based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Strem Chemicals Inc
- Nanoshel LLC
- Reade International Corp.
- nanoComposix
- Certifications Cytodiagnostics Inc
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