Magnetite nanoparticles can be synthesized in a variety of ways, including the coprecipitation method, high-temperature decomposition, electrochemical methods, and constrained environments. One of the most convenient ways to synthesize magnetite nanoparticles is by using polyol, which plays many roles, including acting as a solvent for inorganic components, reducing an iron precursor, and stabilizing the magnetite during the nucleus growth step. In addition, polyol can also serve as protective capping for the magnetite nanomaterials. Magnetic imaging of magnetite nanoparticles has been shown to be effective in imaging the magnetic properties of the particles. These images provide an important insight into the particle shape and size distribution.
Market Statistics:
The Global Magnetite Nanoparticles Market is estimated to account for US$ 54.97 Mn in terms of value by the end of 2021.
Global Magnetite Nanoparticles Market: Drivers
The magnetite nanoparticles market growth is attributed to increased focus on nanotechnology. Increased investments by biomedical companies and research laboratories is expected to boost the magnetite nanoparticles market. In addition, increasing investments in cancer treatments will benefit the market in the near future. Furthermore, the product's potential for use in water treatment is also expected to boost the market growth over the forecast period. Additionally, the market will continue to grow if there is increased research and development in this field.
Global Magnetite Nanoparticles Market: Opportunities
Increasing government expenditure on biotechnology is projected to present lucrative growth opportunities over the forecast period. For instance, in February 2022, In the Union Budget 2022-23, the Department of Biotechnology was allotted Rs. 2,581 crore (US$ 343.56 million) for developing basic infrastructure, genetic engineering, technologies and bioinformatics, agriculture biotechnology, and training skilled professionals.
Global Magnetite Nanoparticles Market: Restraints
The price volatility of raw materials could hamper the growth of the market over the forecast period.
Global Magnetite Nanoparticles Market - Impact of Coronavirus (Covid-19) Pandemic:
With the imposed of lockdown by government in the first half of 2020 to prevent the spread of the infection, various manufacturing factories have been closed for quite a long period. This has negatively affected the production of magnetic nanoparticles. Thus, the consumption of magnetic nanoparticles has witnessed a slowdown in 2020.
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https://www.coherentmarketinsights.com/market-insight/magnetite-nanoparticles-market-5404
Key Takeaways:
The global Magnetite Nanoparticles market was valued at US$ 54.97 Mn in 2021 and is forecast to reach a value of US$ 117.83 Mn by 2030 at a CAGR of 9.78% between 2022 and 2030.
Biomedical segment held dominant position in the global Magnetite Nanoparticles market in 2021, accounting for 80.95% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Magnetite Nanoparticles Market Trends:
The increasing importance of health care services and the growing prevalence of chronic diseases is expected to increase demand for these products. Furthermore, the demand for these materials is also expected to increase due to their use in spintronics, nanowires, and quantum dots. Additionally, these materials are used in various industrial applications, such as batteries, fuel cells, and photovoltaic film coatings which is further anticipated to shape the market growth positively.
Growing demand for medical applications and investments in the development of novel technologies will drive the magnetite nanoparticles market in the coming years. For instance, the use of the products in magnetic resonance imaging and brain tumor treatment is expected to lead to a rise in the global magnetic resonance imaging market in the next few years. Moreover, growing government support for the advancement of technologies is acting as a key trend for agnetite nanoparticles market.
Global Magnetite Nanoparticles Market: Competitive Landscape
American Elements, Cytodiagnostics Inc., nanoComposix, Nanografi Nano Technology, Nanoshel LLC, NNCrystal US Corporation, Sigma-Aldrich (Merck KGaA), SkySpring Nanomaterials Inc. (ssnano.com), Strem Chemicals Inc., and US Research Nanomaterials Inc.
Global Magnetite Nanoparticles Market: Recent Developments
In December 2019, nanoComposix partnered with EM Japan to broaden the distribution of its products to customers throughout Japan.
In May 2020, nanoComposix established a partnership with Amplicon Biotech to expand access to the suite of products and services offered by the former, for customers across India.
