Global Superconducting Materials Market to Expand at 17.2% CAGR 2014-2020

Superconductors are materials that conduct electricity without any resistance. These possess the ability to carry electricity indefinitely without any loss of energy. Superconducting materials exhibit several physical properties such as critical magnetic field, heat capacity, critical temperature, and critical current density. These properties may vary depending upon the type of the superconducting material. However, properties such as resistivity remain independent of the material. Introduction of magnetic resonance imaging (MRI) machines that entail superconducting materials has transformed the medical industry. Other applications in various industries such as transportation, military, electronics, and power utilities have also benefited significantly from the usage of superconducting materials. Based on their critical temperature, superconducting materials are divided into high temperature superconductors (HTS) and low temperature superconductors (LTS).

For More Industrial Insights Get PDF Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1002

Demand for superconducting materials is anticipated to rise significantly during the forecast period due to growth of the medical industry. Superconductors have wide scope of application in MRI technology owing to technological advancements in the medical industry. This trend in technology is likely to continue further beyond the forecast period and hence the market is bright for superconducting materials. Additionally, increasing demand for highly efficient electric motors is expected to be one of the major factors driving demand for superconducting materials such as wires and magnets during the forecast period. However, the volatility in the prices of certain raw materials such as yttrium, due to various supply constraints associated with these raw materials, is likely to hamper market growth in the coming years. The rising demand for superconducting materials in magnets in several end-user applications, such as high-speed trains, cryogenics and biomagnetism, is expected to provide new opportunities for market growth.

Low temperature superconducting materials was the largest product segment in the global superconducting materials market, accounting for over 80% share in 2013. However, high temperature superconducting materials are expected to drive the market in the near future due to extensive research and development. Innovation in high temperature superconducting materials is likely to be the major area of focus in the near future. Furthermore, technological applications of high temperature superconducting materials in niche application areas are projected to increase the market share of high temperature superconducting materials in the near future.

Request for Customization:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1002

Major players in the superconducting materials industry include Superconductor Technologies, Inc. (STI), American Superconductor (AMSC), evico GmbH, Hitachi, Ltd., Metal Oxide Technologies, Inc., Siemens AG and Hyper Tech Research, Inc.

ABOUT US:
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.