According to IMARC Group’s latest report, titled “Superconducting Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.’ the global superconducting materials market size reached US$ 1,068 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,642 Million by 2028, exhibiting a growth rate (CAGR) of 16.8% during 2023-2028.

What are Superconducting Materials?

Superconducting materials are alloys, or metallic compounds, which facilitate the constant transfer of electric charge without resistance. They can be formulated from various materials like lead, mercury, rhenium, lanthanum, cerium, silicon, uranium, zinc, thorium, and titanium. Semiconducting materials can be classified into high-temperature semiconductors (HTS) and low temperature semiconductors (LTS). They are extensively deployed in power grids, storage devices, magnetic amplification devices, electric motors, and electromagnetic generators.

What are the growth prospects and trends in the superconducting materials industry?

The rising utilization of superconducting materials in different verticals, such as defense, healthcare, transportation, science, and research, is propelling the market growth. For instance, nuclear magnetic resonance (NMR) and magnetic resonance imaging (MRI) technologies are widely used in the healthcare industry for diagnosing cardiovascular and musculoskeletal disorders in patients. Moreover, rising investments in research and development, along with the increasing usage of these materials in elevators, fans, pumps, televisions, and air conditioners, are further expected to impel the market growth. 

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What is included in market segmentation?

The report has segmented the market into the following categories:

• 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.

Who are the key players operating in the industry?

The report covers the major market players including: 

Breakup by Product Type:

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

Breakup by End Use Industry:

• Medical
• Electronics
• Energy
• Defense
• Others

Based On Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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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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