According to IMARC Group’s latest report, titled “Superconducting Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.’ the global superconducting materials market size reached US$ 902.6 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,290.2 Million by 2027, exhibiting a growth rate (CAGR) of 17.3% during 2022-2027

Superconducting materials are substances or alloys that transfer electric charges without any electrical resistance when cooled below a specific threshold temperature. They include various metals, non-metals, or metalloids, such as mercury, zinc, tungsten, zirconium, vanadium, titanium, lithium, and silicon. These components can conduct electricity without energy loss and possess high heat capacity and critical temperature properties. Consequently, superconducting materials are widely used in scanners, power transmission systems, particle accelerators, and generators.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Superconducting Materials Market Trends:

The significant expansion in the electronics industry and the increasing purchase of various consumer electronics are primarily driving the market growth. Semiconductor materials are widely incorporated in sensors, analog-to-digital converters, and ultrafast routers for digital communication systems. Moreover, the extensive product utilization in magnetic resonance imaging (MRI) and nuclear magnetic resonance (NMR) spectroscopy to generate high-quality images for the diagnosis of various cardiovascular diseases (CVDs) are supplementing the market growth. Furthermore, the rising environmental concerns have prompted the uptake of electric vehicles (EVs)  to curb the growing carbon emissions, which, in turn, is supplementing the product demand. Besides this, strategic collaborations amongst key players to enhance item efficacy and the emerging applications of superconducting materials in high-speed trains, cryogenics, biomagnetism, quantum computers, and information processing are bringing many potential opportunities to the market.

Competitive Landscape:

American Superconductor Co.
Evico GmbH
Hitachi Ltd.
Hyper Tech Research Inc.
Metal Oxide Technologies Inc.
Siemens AG
Sumitomo Electric Industries Ltd.
Superconductor Technologies Inc.
SuperPower Inc
The Furukawa Electric Co. Ltd.
Western Superconducting Technologies Co. Ltd.

Key Market Segmentation:

Breakup by Product Type:

Low-temperature Superconducting Materials (LTS)
High-temperature Superconducting Materials (HTS)

Breakup by End Use Industry:

Medical
Electronics
Energy
Defense
Others

Breakup by Region:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                           

Market Performance (2015-2020)
Market Outlook (2021-2026)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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