Magnetic Stirrer Market Size, Share, Growth, and Industry Analysis, By Type (Regular Magnetic Stirrer, Hot-Plate Magnetic Stirrer, Multi-Position Magnetic Stirrer), By Distribution (Chemical Industry, Education & Research, Pharmaceutical Industry, Other Applications), Regional Insights and Forecast to 2032

Updated On: 22 April 2024

MAGNETIC STIRRER MARKET REPORT OVERVIEW

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global magnetic stirrer market size was USD 1489.8 million in 2020 and market to touch USD 2174.09 million by 2032 at CAGR 3.2% during the forecast period.

A magnetic stirrer comprises a type of scientific instrument that rotates a stir bar that is magnetic inside a container using a magnetic field. This creates a vortex, which helps to mix or stir the solution or liquid inside. It is frequently employed in several scientific and research fields, including food testing, chemistry, biology, and medicines.

With a fastest predicted growth rate during the anticipated timeframe, the magnetic stirrer market growth has a bright future ahead of it. Numerous variables contribute to this expansion. First, the market is anticipated to be pushed by the growing need for laboratory instruments and equipment, which is being caused by the expansion of the biotechnology and pharmaceutical industries. In these sectors, magnetic stirrers are vital equipment for a number of procedures, such as mixing bioreactors, titrating, and preparing samples.

COVID-19 Impact: Operations at a Reduced Capacity to Deplete Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID-19 had a major negative effect on the growth of the marketplace because it reduced demand for the product from important end users, most industries were operating at a reduced capacity, research and university departments were not adequately funded, major educational institutions were temporarily closed, the supply chain was disrupted, and lockdowns made it difficult to provide post-sale services. During the early stages of the pandemic, this had a significant effect on the market. But with services and research picking back up, the market has grown back to levels seen prior to the outbreak.

LATEST TRENDS

"Automation and Digitization of Laboratory Operations to Stimulate Market Development"

The growing automation and digitization of laboratory operations, which is driving up demand for the equipment with enhanced features and connectivity choices, is one of the new developments within the market. The market is expanding as a result of growing expenditures made in research and development to create equipment that is more robust and efficient. Furthermore, there is an increasing emphasis on energy- and environmentally-friendly magnetic stirrers, as well as the creation of portable, small versions that take up less room and are simple to use. Additionally, the market is seeing a shift toward product innovation and customisation to meet the needs of certain applications and user requirements.

MAGNETIC STIRRER MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into magnetic stirrer, hot-plate magnetic stirrer, multi-position magnetic stirrer.

Magnetic Stirrer: A magnetic stirrer, often called a magnetic mixer, is a type of lab instrument that uses a revolving magnetic field to spin a stir bar, also known as a flea, immersed in a liquid swiftly, churning it. Standard magnetic stirrers don't include a heating element and are used for simple stirring tasks.

Hot-Plate Magnetic Stirrer: In extrusion cutting, unlike conventional cutting, where the qualities of the material that is being cut also play a role in determining the deformation, the process can be characterized as mathematically restricted orthogonal cutting.

Multi-Position Magnetic Stirrer: Multiple stirring positions are provided by multi-position magnetic stirrers, which boost efficiency and productivity in the lab. These market categories serve a range of sectors' needs for scientific and research.

• By Application

Based on application the global market can be categorized into chemical industry, education & research, pharmaceutical industry, other applications.

Chemical Industry: Numerous industries, including the chemical industry, research and education, the pharmaceutical industry, and others, use magnetic stirrers. These stirrers are employed within the chemical industry to blend, mix, and dissolve substances.

Education & Research: Magnetic stirrers are useful tools for conducting experiments and examining materials in the fields of education and research.

Pharmaceutical Industry: These tools are used in the pharmaceutical sector for medication production and formulation development.

Other Applications: Furthermore, magnetic stirrers are used in other industries to provide homogenous mixtures and effective processes in tasks including food preparation and water purification.

DRIVING FACTORS

"Growing Need for Laboratory Instruments to Support Market Expansion"

With a fastest predicted growth rate during the anticipated timeframe, the market has a bright future ahead of it. Numerous variables contribute to this expansion. First, the market is anticipated to be pushed by the growing need for laboratory instruments and equipment, which is being caused by the expansion of the biotechnology and pharmaceutical industries. In these sectors, magnetic stirrers are vital equipment for a number of procedures, such as mixing bioreactors, titrating, and preparing samples.

"Rising Research and Development Activities to Foster Industry Progress"

Furthermore, the need for this equipment is being fuelled by rising investments in research and development across a number of industries. For their scientific and analytical activities, research institutes, university labs, and pharmaceutical businesses primarily depend on these instruments. Furthermore, technological developments have made it possible to create more sophisticated and effective magnetic stirrers with features including automated procedures, accurate speed adjustment, and digital controls that are drawing in clients and expanding the market.

RESTRAINING FACTOR

"High Temperature Problem to Stop Market Evolution"

To prevent harm to the machine, the instrument must be kept dry and clean, and while not in use, the power should be turned off. Extremely high temperatures prevent the use of magnetic stirring because they will erode the stir bars' protective coating. Viscose liquids and thick suspensions cannot be adequately churned, nor can huge amounts of liquids.

MAGNETIC STIRRER MARKET REGIONAL INSIGHTS

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"Asia Pacific Sovereignty Upon the Business Owing to Financial Assistance by the Government "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

By the end of 2035, the Asia Pacific is expected to have the biggest magnetic stirrer market share. Research & development efforts have increased significantly in Asia Pacific in a number of areas, including biotechnology, chemicals, and pharmaceuticals. Consequently, there has been an increase in demand for laboratory apparatus such as stirrers. The Asia Pacific governments have been providing financial assistance and incentives for research and development, which has increased demand for laboratory supplies including stirrers. A sizeable portion of worldwide government spending on R&D was allocated to the Asia Pacific area.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Corning (U.S.)
• Grant Instruments (U.K.)
• IKA-Works (U.S.)
• Scientific Industries (U.S.)
• Thermo Fisher Scientific (U.S.)
• Argos (U.K.)
• Azzota (U.S.)
• Cole-Parmer (U.S.)
• Dynalon (U.S.)
• Hanna Instruments (U.S.)
• Heidolph Instruments (Germany)
• Neutec Group (U.S.)
• Scilogex (U.S.)
• Troemner (U.S.)

INDUSTRIAL DEVELOPMENT

March 2023: The recent purchase of Shaffer, industrial mixers, and process equipment from Bundy Baking Solutions has been announced. INXIS Group, an authority within ingredient automation, pre-dough structures, mixing, and depositing methods for the food and medical industries, along with its monetary sponsor IK Partners, is happy to announce this.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.