Lucintel's latest market report analyzed that magnetorheological fluid provides attractive opportunities in the automotive, aerospace, building & construction, military & defense, optics, electrical & electronics, medical & prosthetics, and robotics applications. The magnetorheological fluid market is expected to reach $XX billion by 2028 with a CAGR of 21% to 23%. In this market, synthetic hydrocarbon oil is the largest segment by base fluid, whereas automotive is largest by application. Adoption of ‘smart materials’ in haptic actuators and advancement of teleoperation technology provides strategic growth path in this market.
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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. The synthetic hydrocarbon oil segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, as it is used with engine oils and gear oil due to its high thermal oxidative stability as well as low volatility.
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The Magnetorheological Fluid Market is marked by the presence of several big and small players. Some of the prominent players offering magnetorheological fluid include Kolektor, MRF Engineering, Ioniqa Technologies, Liquids Research, CK Materials Lab, ArProDEC, Industrial Metal Powders, Arus MR Tech, Lord, and Kurimoto.
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