BCC Research Projects the Global Nanomagnetic Materials and Devices Market to Reach $9 Billion by 2017
According to BCC Research the global market for nanomagnetic materials and devices is expected to reach $9 billion by 2017. The data storage product sector of the nanomagnetics market generated nearly $6.9 billion in wholesale-level sales in 2012 and should reach nearly $8.4 billion in 2017 while markets for sensors, biosensors, bioassay products and GMR sensors will be the fastest growing segments.
Wellesley, MA (PRWEB) May 21, 2013
According to BCC Research, the global market for nanomagnetic materials and devices is currently $7.3 billion and will top $9 billion by 2017. Therefore, certain types of nanomagnetic materials already represent a mature market.
The data storage product sector of the nanomagnetics market generated nearly $6.9 billion in wholesale-level sales in 2012 and is expected to reach nearly $8.4 billion in 2017. Products like MRAMS have been commercialized since the 2004 BCC report and are poised for expanding growth in the number of shipments. Overall growth in MRAM sales will be lower due to steadily reduced per-unit prices.
The fastest-growing markets will be for sensors, including biosensors, bioassay products, and giant magnetoresistive (GMR) sensors. Sales topped $53 million in 2012 and should grow at a compound annual growth rate (CAGR) of 15.3% to reach $108 million by 2017.
These are followed by a group of “other” markets, including nanocrystalline soft magnetic cores, magnetic fluids, catalysts and environmental remediation products. Together they represent a $97 million market, which is forecast to grow to a combined $209 million by 2017.
There are diverse companies involved in the area of nanomagnetics, ranging from biotechnology startups to major global electronics companies. Some of these firms are primarily materials companies, acting as suppliers of nanomagnetic material products, such as magnetic fluids, magnetic microspheres, or nanocrystalline magnetic alloys. Some companies in the business are captive producers of nanomaterials for higher value-added end products, such as hard disks or GMR sensors. A final group of companies incorporate nanomagnetic materials from outside suppliers into both mundane and up-and-coming products, from loudspeakers to biochips.
It is worth noting that there is not so much a nanomagnetics industry as there are a number of industries or market segments that are affected by nanomagnetics technology and materials. These market segments include industrial products, information storage devices, and biotechnology. Companies involved in each of these areas are developing and using nanomagnetics technology and products.
BCC Research has identified approximately 50 companies that are active in developing and using nanomagnetics-related products and technology.
Nanomagnetics: Materials, Devices and Markets (NAN033B) is a valuable resource for those who need to understand the technological and market impact of magnetic materials and devices based on nanotechnology, and for decision-makers in companies or institutions that:
- Manufacture, process, or sell magnetic nanomaterials, including nanoparticles, microspheres, ferrofluids, thin films, and bulk materials
- Develop or fabricate devices based on nanomagnetic materials, such as GMR heads, hard disks, MRAM or biosensors
- Are seeking partners for their nanomagnetic commercialization efforts
- Provide consulting, public relations, or other services to the nanotechnology community
- Are planning to make investments or acquisitions in the nanotech space
- Produce or market conventional magnetic materials and devices
- Develop competing technologies or products in areas in which nanomagnetic materials and devices will have (or are already having) an impact.
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