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The global superconducting materials market grew at a CAGR of around 14% during 2015-2020. Superconducting materials refer to various metallic compounds or alloys that can conduct electricity/ electric charge with no resistance and without releasing heat, sound and energy. Some of the commonly used superconducting materials include gallium, cadmium, aluminum, vanadium, zinc, tungsten, thorium, lead, titanium and lanthanum. These materials are available in the form of powders or crystals, magnets, wires and cables. They are widely used in power storage devices, power grids, electric motors, magnetic levitation trains, magnetic resonance imaging (MRI) and electromagnetic generators. As a result, they find extensive applications across various industries, including electronics and medical.
Significant growth in the electronics and medical industries across the globe represents one of the key factors creating a positive outlook for the market. Superconducting materials are extensively used in the MRI equipment to diagnose various medical ailments, such as cardiovascular and musculoskeletal disorders, by producing accurate images of the internal organs. In line with this, electronics manufacturers use these materials for resistance-free conductivity in electric fans, elevators, pumps, industrial equipment, air conditioners, televisions and refrigerators. Additionally, various product innovations, such as the development of high-temperature superconducting fibers, are acting as other major growth-inducing factors. They are commonly used to manufacture high-endurance power cables, which can transmit energy at high speeds and can be efficiently utilized in various storage systems. Other factors, including the utilization of superconducting materials for improving the performance of smart grids, along with extensive research and development (R&D) activities, are anticipated to drive the market further. Looking forward, IMARC Group expects the global superconducting materials market to exhibit strong growth during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global superconducting materials market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type and end use industry.
Breakup by Product Type:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.) and Western Superconducting Technologies Co. Ltd.
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