According to MRFR analysis, the global magnetite nanoparticles market is projected toregister a CAGR of 10.9% to reach USD 112.43million by the end of 2027.
Magnetite nanoparticles are obtained from magnetite (Fe3O4). These nanoparticles exhibit super magnetic properties at ambient temperatures and can be manipulated using a magnetic field. Magnetic nanoparticles are often available in colloidal form. These nanoparticlesgarner considerable interest from the biomedical application sector due to their biocompatibility and super magnetic properties.
Increasing investments by research laboratories and biomedical companies to explore and develop potential applications for magnetite nanoparticles are expected to be the primary factor driving the growth over the forecast period. Scientists are exploring avenues to use magnetite nanoparticles as a drug delivery agent and in efficacy in cancer treatment. Additionally, potential product use in water treatment applications is expected to boost the product demand in the upcoming period.
In the European Union, nanomaterials are covered by the REACH and CLP regulations—some of the most rigorous regulatory frameworks forensuring the safe use of chemicals and mixtures. As of January 1,2020, detailedlegal requirements under REACH apply for companies that manufacture or import nanoforms. These reporting obligations address specific information requirements outlined in revised annexes to the REACH regulation:
- Characterization of nanoforms or sets of nanoforms covered by the registration (Annex VI);
- Chemical safety assessment (Annex I)
- Registration information requirements (Annexes III and VII-XI); and
- Downstream user obligations (Annex XII).
- Growing adoption of nanomaterials in biomedical applications
- Potential applications in the wastewater treatment industry
- Growth of the medical imaging sector
- Complex manufacturing process.
- Bio-medical: The bio-medical segment accounted for the largest market share in 2019 andis one of the fastest-growing segments. Magnetite nanoparticles are widely used in MRI scans as a contrasting agent.Significant use of MRI scans to diagnose various medical primarily boosts the segment growth. Additionally, the potential product application in pharmaceutical drug delivery and cancer treatment is expected to boost the market growth over the forecast period significantly.
- Electronics: The electronics application segment is expected to grow at a significant pace during the forecast period.Magnetite nanoparticles exhibit immense potential in the advancement of data storage technology. The product can potentially be used in the development of ‘Magnetoresistive RAM.’
- Wastewater treatment: The wastewater treatment application segment is expected to attain a significant share of the overall market by 2027. Anticipated commercial use of magnetite nanoparticles in remediation and removal of various pollutants such as glyphosate from wastewater is expected to boost the segment growth in the upcoming period.
- Others: The others segment consists of energy and chemical processing, among others.
- North America
- Latin America
- Middle East & Africa
- North America: Wide-ranging support to nanomaterials research activities has been the primary factor driving the North American magnetite nanoparticles market.Various government and private organizations are commissioning research activities in the field of magnetite nanoparticles. For instance, US EPA, under its Small Business Innovation Research (SBIR) imitative, had commissioned a research project to develop low-cost commercial-scale magnetite (Fe3O4) nanoparticles for the enhanced remediation of contaminated groundwater.
- Europe: The European market is expected to progress at a significant pace during the forecast period. Growing research funding by the European Union toward nanotechnology research is expected to be the primary factor driving the regional market.
- Asia-Pacific: The market in this region is expected to grow at the fastest pace over the forecast period. Increasing utilization of MRI imaging is anticipated to fuel the product demand within the region. Moreover, the rapid growth of nanotechnology research activities in India, Japan, and China is expected to aid market growth in the near future.
- Latin America: Relativelysmall but rapidly developing nanotechnology research sector within the region is expected to drive the market.
- Middle East & Africa: The establishment of world-class research facilities in Saudi Arabia, the UAE, Israel, Qatar are expected to generate significant demand for magnetite nanoparticles over the forecast period. Additionally, the growth of the diagnostic imaging sector is projected to boost the market growth over the forecast period.
- Chemicals, Inc.
- US Research Nanomaterials, Inc.
- American Elements
- Nanoshel LLC
- Merck KGaA
- Nanocomposix, Inc.
- Reade International Corp.
- Cytodiagnostics, Inc.
- SkySpring Nanomaterials, Inc.
- Nanografi Nano Technology
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
US Research Nanomaterials, Inc.
Reade International Corp.
SkySpring Nanomaterials, Inc.
Nanografi Nano Technology
Key Market Opportunities
Complex manufacturing process.
Key Market Drivers
Growing adoption of nanomaterials in biomedical applications