The global nanomagnetics market size is expected to reach USD 11.61 Billion in 2028 and register a revenue CAGR of 2.9% over the forecast period, according to latest analysis by Emergen Research. Global nanomagnetics market revenue growth is driven to a significant extent by rising demand from various end-use industries such as healthcare, electronics, and transportation.
Nanomagnetics is an effective method in making materials lighter, stronger, reactive and durable. Demand for nanomagnetics has been steadily increasing owing to the ongoing product and device miniaturization trend in the market. Increase in investment in R&D of nanomagnetics and surge in demand for more-energy efficient and effective devices are other factors driving revenue growth of the market.
Rising demand for Heating, Ventilation, and Air Conditioning (HVAC) systems and deployment of building automation solutions in various countries across the globe has been leading to increased demand for nanomagnetic devices. Nanomagnetic sensors find application in centralized security systems and rising focus on and need for enhanced safety and security is driving market growth. However, high cost of R&D and complex manufacturing process of nanomagnetics devices are key factors hampering market revenue growth.
One of the trends in the market is development of nanomagnetics for wireless charging applications. Wireless power transfer applications require improved performance magnetic materials for allowing critical functions such as inductive coupling and Electromagnetic Interference (EMI). The COVID-19 pandemic has created major demand for more scalable and affordable detection methods and new efficacious medical solutions that can be achieved using nanomagnetics. Researchers are increasingly using nanotechnology to develop remedies to alleviate chronic and acute effects of COVID-19 and variants.
The latest research report is dubbed as the first document encompassing the latest information about the Nanomagnetics market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Nanomagnetics industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
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Nanomagnetics Market -Competitive Landscape:
The research report offers key insights into the leading market players’ strengths and weaknesses, assessed using Porter’s Five Forces and SWOT analyses. The report includes Nanomagnetics market segmentation based on product type, application spectrum, and key regions. The investigative study estimates the market size, market share, and revenue generation over the forecast timeframe. The key players profiled in the report include: Samsung Electronics, Hitachi, Novanta Inc., IPG Photonics, Rofin-Sinar Technologies, LG Electronics, Osram, Amkor Technology, Tokyo Electron Limited, and Han\’s Laser Technology Industry Co., Ltd.
Nanomagnetics Market Key Highlights
In March 2020, MIP Diagnostics and Veravas announced an international agreement to improve diagnostics. It is a mutually beneficial agreement for the license, development, and supply of MIP specific for Veravas’ sample preparation technology. Veravas’s nanomagnetic particles will recognize, eliminate and measure substances from sample of patients to reduce the effects of complex interferences.
Data storage segment accounted for a significantly large revenue share in 2020 as several research studies are focusing on developing and implementing nanomagnetic materials for data storage, which is paving way for miniature data storage devices. Arrays of nanomagnetic materials could be deployed for producing hard disks with ultra-high-density storage or for development of solid-state memory with enhanced read/write speed and dense memory capacity. Benefits of nanomagnets in storage applications is due to nanomagnets’ hysteresis that is responsible for creation of two oppositely magnetized states that are capable of storing binary data.
Electronic segment accounted for a significantly large revenue share in 2020 due to increased application of nanomagnetic in electronics. Nanomagnetics are designed to boost electrical, thermal, and mechanical properties of electronic devices. Companies are producing large-scale nanomagnetic devices using nanoimprint lithography as it is a cost-effective procedure. Such initiatives are driving growth of this segment.
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Nanomagnetics Market Segmentation:-
Emergen Research has segmented the global Nanomagnetics market on the basis of application, end-use, and region:
Application Outlook (Revenue, USD Billion; 2018–2028)
Data Storage
Magnetic Tapes
Hard Disks
Magnetoresistive Random Access Memory (MRAM)
Others
Sensors
Giant Magnetoresistive (GMR) Sensors
Biosensors and Bioassays
Medical and Genetics
Imaging
Separation
Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
Transportation
Medical & Biotech
Manufacturing and Processing Industry
Electronics
Others
The report addresses the following key points:
The report estimates the expected market size from 2021-2028
The report provides a forecast of market drivers, restraints, and future opportunities for the Nanomagnetics market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
Key Regional Nanomagnetics Markets
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Nanomagnetics market, including the global and regional analysis of the market. The study covers critical information and factual data about the Nanomagnetics industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Nanomagnetics market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Nanomagnetics industry.
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