It is helpful to keep in mind that gain is defined as directivity times efficiency. A small loop antenna generally suffers from poor efficiency which translates to poor gain.
The directivity of the small loop antenna is largely fixed and is equal to that of a short dipole antenna. Only when the loop circumference becomes large enough that the current around the loop is no longer essentially uniform will the directivity begin to diverge. Generally, a loop with a circumference that is 1/10 of a wavelength or less is considered a small loop antenna with nearly uniform current.
The poor efficiency of the small loop antenna is largely due to its very low radiation resistance. As the area/diameter/radius of the (circular) loop is increased, its radiation resistance increases as the square of the area. So increasing the area of the loop can dramatically improved the radiation resistance and thus the efficiency and gain of the antenna.
Decreasing losses in the antenna also improves the efficiency of the small loop antenna. Larger, less resistive surface areas and better connections are often the most productive ways of decreasing RF resistive losses.
One might reason that increasing the area of the loop in order to increase radiation resistance will also increase the losses in the loop. This is true. However, the radiation resistance increases as the square of the area while the resistive losses generally increase linearly with the circumference of the loop. So while the losses are increasing, the more rapidly increasing radiation resistance more than makes up for the additional losses so efficiency can be dramatically improved.
- Glenn W9IQ