Superconducting Materials Market Size By Product (Low Temperature, High Temperature), By End-user (Medical, Research & Development, Electronics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Published Date: May 2017 | Report ID: GMI1630 | Authors: Kiran Pulidindi Report Format: PDF

  Request Sample
Summary Table of Contents Industry Coverage Methodology

Industry Trends

Superconducting Materials Market size was more than USD 650 million in 2016 and will witness 17% growth over the projected timespan.

U.S. Superconducting Materials Market Size, By End-User, 2013 - 2024 (USD Million)
U.S. Superconducting Materials Market Size, By End-User, 2013 - 2024 (USD Million)

Get more details on this report - Request Free Sample PDF

Surge in demand for magnetic resonance imaging (MRI) due to government spending for improving equipment efficiency will enhance superconducting materials market size by 2024. MRI equipment utilize superconducting materials and are employed in the diagnosis of several healthcare related problems including cardiovascular liver and musculoskeletal issues by producing images of structures of internal body parts. These practices are gradually improving with growing medical and healthcare sector to help in developing the equipment, which will subsequently boost superconducting materials size over the projected timespan. There has been increasing research to diagnose bariatric and claustrophobic patients using MRI. For instance, the global MRI equipment business size is likely to experience gains close to 10% CAGR over the forecast period.

Electronics industry manufactures a wide range of electronic items including fans, elevators, pumps, machineries, AC, televisions, refrigerator, etc. which utilize the product for resistance free conductivity and henceforth, will stimulate the superconducting materials market size by 2024. Strong growth indicators in the global electronic industry on account of increasing consumer spending towards electronic gadgets, which will drive superconducting materials market size by 2024. Furthermore, prevailing electronics industry is attributed to increasing electronic vehicles in the industry due to changing market trends to reduce emissions to attain sustainable environment will complement growth.

Several rare-earth metals such as yttrium are dominant feedstock used in superconducting materials market share. Limited availability along with volatile pricing of raw materials is expected to hamper market size by 2024. However, increasing demand for superconducting magnets having the tendency to develop strong magnetic field finds widespread end-user in high speed trains, cryogenics, and bio magnetism which will create ample of opportunities for superconducting materials market size by 2024.

Superconducting Materials Market, By Product

Low temperature superconducting materials market share constitutes a major chunk of the overall industry share in 2016. It was valued at over USD 400 million in the same year. The segment is forecast to exhibit promising gains owing to widespread applications in MRI and nuclear magnetic resonance (NMR) in medical industry. It is cost efficient and has stable operational abilities compared to high temperature superconducting materials which is quite expensive to be utilized across wide ranging end-users.

High temperature superconducting materials is used when the critical temperature is more than 77 K (Kelvin). Commercial end-user of high temperature product is limited due to high manufacturing cost of its components (brittle ceramics) and inability for easy transformation into wires or other useful shapes. Henceforth, they are used where they have intrinsic advantage such as in manufacturing scientific magnets in which size and electrical consumption is critical.

Superconducting Materials Market, By End-user

Global superconducting materials market size for medical industry was valued more than USD 640 million in 2016. It shall witness highest gains during the forecast period due to increasing product use in manufacturing machineries used in diagnosing and curing diseases including MRI, NMR, Magnetoencephalography (MEG) etc. Government has been encouraging increasing investment in medical and healthcare sector to improve the efficiency of machineries used in diagnosis of fatal diseases which will subsequently contribute size by 2024.

Global superconducting materials market share for R&D sector is projected to grow at over 17% CAGR during the forecast period. The segment growth will be mainly due to broad scope of R&D across various end-user industries including telecommunication, electronics, medical, transportation, etc. for developing new product and services. Key players of the aforementioned industries are heavily investing in the R&D to encourage innovation in product and services to attain competitive advantage across the globe. For instance, telecommunication sector is engaged in replacing conventional filters with the superconducting filters which are more efficient in picking up signals and thereby improving antenna range. Such developments in R&D sector will help boost size by 2024.

Superconducting Materials Market, By Region

Asia Pacific led the overall superconducting materials market size and was valued at over USD 250 million in 2016. This is attributed to growing medical industry which is employed in manufacturing superconducting materials based machineries used for diagnosing diseases. Medical industry is witnessing significant gains due to increasing health awareness and improving infrastructure in the region. Furthermore, the region has witnessed prominent growth in R&D sector across various end-user industries including telecommunication, electronics, transportation, energy generation, etc. which will subsequently stimulate the regional market size over the projected timeframe.

North America market is forecast to attain CAGR of over 16% during the forecast period owing to well established medical sector with excellent diagnosing machinery & equipment. In addition, mounting electronics industry owing to technological advancements in the region will drive superconducting materials size during the forecast period. This will lead to increasing product use in technologically advanced electronic products, resulting in higher gains in the superconducting materials business size by 2024.

Competitive Market Share

Key superconducting materials market share contributors are Siemens AG, American Superconductor, Evico GMBH, Hyper Tech Research Inc., Superconductor Technologies Inc and Hitachi Ltd. Major product manufacturers are in the long-term procurement contract with the end-user industries such as medical, electronics, R&D, transportation, energy generation etc. as the industry requires varying product characteristics for manufacturing machinery, equipment, electronic items, etc. This helps the company in attaining better market presence across the industry ecosystem.

The industry is forward integrated as the major players including Hengyang Hengfei Cable, Changsha Asian Light Economic Trade and Guangzhou Jiechuang Trading are engaged in manufacturing and supplying product across the globe. Furthermore, the product manufacturers are investing in R&D to develop technologically advanced and flexible products to be used in wide ranging machineries which will eventually help in attaining promising future growth opportunities.

Superconducting Materials Industry Background

Superconducting Materials Market Segmentation

Get more details on this report - Request Free Sample PDF

Superconducting materials has application across various end-user industries including medical, electronics, R&D, transportation, energy generation, etc., as it conducts electricity without any resistance which results in reducing energy losses. Thus, growing aforementioned industries across the globe will positively influence the superconducting materials market size during the forecast period.

In addition, pressing need for developing technologically advanced equipment to improve operational efficiency will subsequently lead to escalating superconducting materials market size by 2024. Low temperature product led the overall industry in 2016 on account of mounting medical industry due to rising health awareness and growing infrastructure primarily in Asia Pacific which will subsequently boost market size by 2024.

What Information does this report contain?

Historical data coverage: 2013 to 2016; Growth Projections: 2017 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

Premium Report: Details

Pages: 122
Tables: 137
Charts / Figures: 13
Companies covered: 15
Countries covered: 17

Special Requests?

Inquire Before Buying
This site is protected by Trustwave's Trusted Commerce program Authorize.Net Merchant - Click to Verify BBB Rating - Click to Verify

15% Free Customization
Share your Requirements

Customize this Report

Questions? Speak to an Analyst

Full Name *
Email *
Phone (With Country Code)
Message *
Are you human?
2 + 1 =

Your personal details are secure. Privacy Policy

Connect with our sales team

Chat With Us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info. I Agree