Nanomagnetics Market - Forecast(2021 - 2026)

 

Nanomagnetics Market Overview

Nanomagnetics market is forecast to reach $8.0 billion by 2025, after growing at a CAGR of 3.9% during 2020-2025, owing to the increasing demand for nanomagnetic from various end-use industries such as electronics, medical, and automotive as it is one of the most effective methods to make materials stronger, lighter, durable, and reactive. Globally, biotechnology, data storage, and retrieval, development of efficient and advanced technology, growing demand for nanomagnetic devices are the prime growth drivers of the global nanomagnetics market. Furthermore, increasing government initiative across the globe, and growing demand for minimally invasive and non-invasive surgical procedures is also anticipated to propel the market during the forecast period.

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Report Coverage

The report: “Nanomagnetics Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the nanomagnetics Industry. 

By Application: Sensors (Biosensors and Bioassays, and Giant Magnetoresistive (GMR) Sensors), Separation, Imaging, Data Storage (Magnetic Tapes, Hard Disks, Magnetoresistives Random Access Memory (MRAM), and Others), and Others.

By End-Use Industry: Medical and Bio-Tech (Targeted Therapies, Drug Delivery, Diagnostics, and Others), Biochemistry, Transportation, Electronics, Manufacturing and Processing Industry, and Others.

By Geography: North-America, South-America, Europe, Asia Pacific, and RoW.

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Key Takeaways

• Asia Pacific dominates the nanomagnetics market, due to the increasing demand for nanomagnetics from the electronics sector in the region. By 2025, India could create a digital economy of $800 billion to $1 trillion. The growing electronics sector will propel the nanomagnetics market in the Asia Pacific.
• According to the United States International Trade Commission, the total exports of electronic products grew by $7.9 billion (3 percent) to $268 billion in 2017 in the United States. Since electronic products are widely using nanomagnetics, it is anticipated that the increasing demand for electronic products will further drive the nanomagnetics market.
• Nanomagnetics surgeries are being extensively done to address the drug delivery devices and diagnosis of diseases such as cancer and ailments of the brain or the heart, which is the major factor driving the nanomagnetics market growth during the forecast period.

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Nanomagnetics Market Segment Analysis - By Application

The sensors segment held the largest share in the nanomagnetics market in 2019, owing to extensive usage of nanomagnetics in the manufacturing of sensors. The sensors using smart nanomagnetics have applications for rapid, specific, sensitive, inexpensive, in-field, on-line and/or real-time detection of pesticides, antibiotics, pathogens, toxins, proteins, microbes, plants, animals, foods, soil, air, and water. Thus, nanomagnetic sensors are excellent analytical tools for pollution monitoring, by which implementation of legislative provisions to safeguard biosphere could be made effectively plausible. Great advances in nanomagnetic sensors systems have the enormous prospect in industrial, defense, and clinical medicine applications. This coupled with diverse applications of the nanosensors is the key contributor to the dominance of this segment in the nanomagnetics market during the forecast period.

Nanomagnetics Market Segment Analysis - By End-Use Industry

The electronics segment held the largest share in the nanomagnetics market in 2019 and is growing at a CAGR of 5.1%, owing to its extensive application in electronic industries as sensor materials for pressure, due to its several characteristics, such as electrical and thermal conductivity, electromagnetic energy, magnetic properties, and mechanical strength. Heat dissipation in electronic devices requires interface materials with high thermal conductivity and therefore nanomagnetics have been designed to boost the thermal, electrical, and mechanical properties. The large scale fabrication of nanomagnetic logic devices is done using nanoimprint lithography, as it is a fast and cost-effective way to fabricate nanomagnetic logic devices. According to the Electronic Industries Association Of India (ELCINA), the total production of the electronics sector in India was Rs.3,87,525 crore in 2017-18, compared to Rs.3,17,331 crore in 2016-17, exhibiting a growth of about 22%. The electrical and magnetic properties of nanomagnetic enhance the electrical conductivity in ceramics, increases the electric resistance in nano metals thus making it unique to be extensively used in electronic materials such as sensor fabrication, electromagnetic interference shielding, optoelectronics, microwave-assisted magnetic recording (MAMR), superconductivity and memory chips, which is anticipated to drive the nanomagnetics demand in the market during the forecast period.

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