Superconducting Materials Market Poised to Reach US$ 2,642 Million 2023-2028, Driven by Impressive 16.8% CAGR: IMARC Group

How Big is the Superconducting Materials Market?

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.

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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

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Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

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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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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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