According to MRFR analysis, the global magnetite nanoparticles market size is expected to reach over USD 112.43million by the end of 2027at a CAGR of 10.9%.
Magnetite nanoparticles—synthesized from magnetite (Fe3O4) iron ore—exhibit super magnetic property at ambient temperatures. These nanomaterials are witnessing growing interest from the biomedical research sector due to their biocompatibility and their super magnetic properties. Scientists have undertaken various research activities to explore the potential application of magnetic nanoparticles in cancer treatment, microfluidics, in vivo imaging, and drug delivery. Furthermore, the possible use of magnetic nanoparticles to improve data storage systems in the electronics industry is expected to boost the product demand over the forecast period.
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This segment is divided into bio-medical, electronics, wastewater treatment, and others.
• Bio-medical: Bio-medical application segment is expected to progress at the fastest growth rate over the forecast period. Growing research activities in the bio-medical sector to explore the potential use of magnetite nanoparticles in cancer treatment and drug delivery applications is projected to be the primary factor in boosting the segment growth.
• Electronics: The electronics segment is expected to account for a significant share in the global magnetite nanoparticles market by 2027.The growing product adoption in the nanoelectronics industry as nanowires, spintronics, and quantum dots isanticipated to drive the growth of this segment.
• Wastewater treatment: The wastewater treatment segment is expected to grow significantly over the forecast period. The growing adoption of magnetite nanoparticles in high gradient magnetic separation (HGMS) techniques for wastewater treatment is projected to drive the segment growth.
• Others: The other segment consists of energy and chemical processing, among others.
• North America: The North American magnetite nanoparticles market is being driven by rising product demand for research applications from its well-established bio-medical research industry.
• Europe: Europe is projected to grow at a significant pace on account of increasing financial support to nanomaterials research activities within the region.
• Asia-Pacific: Asia-Pacific is anticipated to emerge as the fastest growing market by 2017. The potential adoption of magnetite nanoparticles in the region’s well established electronics industry is expected to be one of the major factors driving the regional market.
• Latin America: Significant investments in nanotechnology research activities are anticipated to provide a major boost to the product demand.
• Middle East & Africa: Growing adoption of MRI imaging is projected to provide a major boost to the demand for magnetite nanoparticles within the region.
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