Global Superconducting Materials Market Size 2019, by Type (Low Temperature Superconducting Materials (LTS), High Temperature Superconducting Materials (HTS)), by End-use (Medical, Electronics, Research & Development), by Region and Forecast to 2025
Apr 2020
Total Pages: 80
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The global superconducting materials market was valued at approximately USD 1.10 billion in 2019 and is projected to expand at an impressive CAGR of 15.4% over the forecast period. Growth in medical imaging device technology and subsequent increase in usage in electronics applications is the key factor to augment the demand for superconducting materials market over the forecast period.
.png "Global Superconducting Materials Market Size, 2019-2025 (USD Billion)")
The phenomenon of superconductivity was discovered in 1911, after which constant developments have led to its growing commercial usage in the medical and electronics industry. However, rigorous research on the materials showing superconductivity is done so as to discover its usage in other industrial verticals.
Superconducting materials are known to save a huge amount of energy and therefore suitable for electronics and power grid applications. Most of the identified superconducting materials are metals, however, there are exceptions wherein extra materials can be doped with the non-metals and form superconducting materials.
Currently, the healthcare industry is the largest application area of superconducting material. The Healthcare industry widely used low-temperature superconducting materials (LTS) in advanced medical devices such as MRI (Magnetic Resonance Imaging). The addition of superconductors in medical scanner devices gives highly precise medical images. Growing demand from the healthcare industry and overall increase in research & development are projected to boost the demand for superconducting materials market over the forecast period.
Key segments of the global superconducting materials market
Type Overview, 2015-2025 (Kilo Tons) (USD Million)
- Low temperature superconducting materials (LTS)
- High temperature superconducting materials (HTS)
End-use Overview, 2015-2025 (Kilo Tons) (USD Million)
- Medical
- Electronics
- Research & Development
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- North America
- US
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global superconducting materials market
- The Global superconducting materials market has been mainly driven by growing usage in the medical devices industry.
What does the report include?
- The study on the global superconducting materials market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forcesanalysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type and end use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- Executives of Global superconducting materials companies that are engaged in the superconducting materials production
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to global superconducting materials market
- Venture capitalists and investors looking for more information on the future outlook of the Global superconducting materials market
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
Indian MRI industry insights:
Magnetic resonance imaging is one of the most flexible diagnostic imaging systems and has excellent spatial accuracy for providing a wide range of imaging solutions. The Indian market for MRI machines features a highly competitive vendor market, mainly due to a growing appetite for improved functionality and reliability of the product. This demand motivated the majority of players to perform ongoing research and innovation and to bring new products to the market space.
Major vendors for MRI equipment in India-
- Siemens AG
- GE Healthcare
- Philips Healthcare
- Toshiba
- Hitachi
According to medical buyers, the Indian market for magnetic resonance imaging (MRI) stood at USD 227 Million in 2017. Based upon the market categorization on different categories of MRI equipment, the 1.5T segment dominated the Indian MRI industry with more than 60% of market share. Technologically superior 3T MRI machines are anticipated to witness impressive growth. Overall, growing investments and increasing adoption for technologically advanced machinery are projected to boost the demand for superconducting materials.
Role of superconducting materials in medical machinery and devices:
Apart from low-temperature superconducting materials, high-temperature materials are also projected to bring several advancements in medical imaging technology. HTS yields many benefits in these devices when used in high field magnetic coils. Usage of HTS in Nuclear Magnetic Resonance (NMR) spectroscopy yields higher frequency operation and higher magnetic fields which results in better spectral resolutions.
The global superconducting materials market is segmented based on the type and end-use.
Global superconducting materials market by type-
Based on type, the global superconducting materials market is categorized into low-temperature superconducting materials (LTS) and high-temperature superconducting materials (HTS). In this segment, the high-temperature superconducting materials (HTS) segment is projected to witness significant growth in terms of market demand over the forecast period. High-temperature superconducting materials are getting increasingly used for medical device applications such as in magnetic resonance imaging owing to which demand for low-temperature materials is set to rise during the forecast period.
Global superconducting materials market by end use-
Based on the end-use, the global superconducting materials market is segmented medical, electronics and research & development. In this, the medical segment accounted for more than 60% of the market share in terms of demand in the global superconducting materials market. Growth in demand for MRI (Magnetic Resonance Imaging) scanner across the globe is the key factor to augment the market demand. Incorporation of superconductors enables higher-resolution imaging due to which precise detection and location of the disease are possible. Apart from MRI machines, superconducting materials are also used in other medical devices such as NMR and Magnetoencephalography (MEG). The rising prevalence of such medical conditions and lack of an alternative is among the key factors to boost market growth.
Based on region, the global superconducting materials market is categorized into key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Furthermore, the global superconducting materials market is also studied for key countries such as the US, UK, Germany, China, India among others.
.png "Asia Pacific Superconducting Materials Market Size, 2019-2025 (USD Billion)")
Asia Pacific led the global market demand with more than 37% of market share in 2019. The growing medical industry in the region along with the growing manufacturing base for medical devices such as MRI is the key factor to boost the market demand. Growing population, increasing economies of scale in the region is creating new opportunities for the medical industry. Furthermore, increasing government support to provide adequate healthcare facilities is also projected to boost the medical devices as well as superconducting materials market demand over the forecast period.
The global superconducting materials market is a competitive market with the presence of a significant number of global companies. These companies are thoroughly engaged in research & development as per the demand from the end-use industries. Superconducting materials are a forward integrated market wherein key players closely work with the end-user industry demands.
Hyper Tech Research Inc., Superconductor Technologies Inc., American Superconductor, Siemens AG, Sumitomo Electric Industries, Ltd., Evico GMBH, Metal Oxide Technologies Inc., Hitachi Ltd., AML Superconductivity and Magnetics, Western Superconducting Technologies Co. Ltd. and SuperPower Inc., are some of the key players in the global superconducting materials market.
The global superconducting materials market was valued at approximately USD 1.10 billion in 2019 and is projected to expand at an impressive CAGR of 15.4% over the forecast period. Growth in medical imaging device technology and subsequent increase in usage in electronics applications is the key factor to augment the demand for superconducting materials market over the forecast period.
The phenomenon of superconductivity was discovered in 1911, after which constant developments have led to its growing commercial usage in the medical and electronics industry. However, rigorous research on the materials showing superconductivity is done so as to discover its usage in other industrial verticals.
Superconducting materials are known to save a huge amount of energy and therefore suitable for electronics and power grid applications. Most of the identified superconducting materials are metals, however, there are exceptions wherein extra materials can be doped with the non-metals and form superconducting materials.
Currently, the healthcare industry is the largest application area of superconducting material. The Healthcare industry widely used low-temperature superconducting materials (LTS) in advanced medical devices such as MRI (Magnetic Resonance Imaging). The addition of superconductors in medical scanner devices gives highly precise medical images. Growing demand from the healthcare industry and overall increase in research & development are projected to boost the demand for superconducting materials market over the forecast period.
Key segments of the global superconducting materials market
Type Overview, 2015-2025 (Kilo Tons) (USD Million)
- Low temperature superconducting materials (LTS)
- High temperature superconducting materials (HTS)
End-use Overview, 2015-2025 (Kilo Tons) (USD Million)
- Medical
- Electronics
- Research & Development
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- North America
- US
- Canada
- Europe
- Germany
- United Kingdom
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global superconducting materials market
- The Global superconducting materials market has been mainly driven by growing usage in the medical devices industry.
What does the report include?
- The study on the global superconducting materials market includes analysis of qualitative market indicators such as drivers, restraints, challenges and opportunities
- Additionally, the market competition has been evaluated using the Porter’s five forcesanalysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of type and end use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the considered segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
- Executives of Global superconducting materials companies that are engaged in the superconducting materials production
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to global superconducting materials market
- Venture capitalists and investors looking for more information on the future outlook of the Global superconducting materials market
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
Chapter 1. Introduction
1.1. Introduction to the Study
1.2. Market Definition and Scope
1.3. Units, Currency, Conversions and Years Considered
1.4. Key Stakeholders
1.5. Key Questions Answered
Chapter 2. Research Methodology
2.1. Introduction
2.2. Data Capture Sources
2.2.1. Primary Sources
2.2.2. Secondary Sources
2.3. Market Size Estimation
2.4. Market Forecast
2.5. Assumptions and Limitations
Chapter 3. Executive Summary
Chapter 4. Market Outlook
4.1. Introduction
4.2. Market dynamics
4.2.1. Market Drivers
4.2.2. Market Restraints
4.2.3. Market Opportunities
4.3. Porter’s Five Forces analysis
4.4. Value chain analysis
4.5. Regulatory framework
Chapter 5. Global Superconducting Materials Market Overview, By Raw Material
5.1. Introduction
5.2. Low temperature superconducting materials (LTS)
5.3. High temperature superconducting materials (HTS)
Chapter 6. Global Superconducting Materials Market Overview, By End-use
6.1. Introduction
6.2. Medical
6.3. Electronics
6.4. Research & Development
Chapter 7. Global Superconducting Materials Market Overview, By Region
7.1. Introduction
7.2. North America
7.2.1. US
7.2.2. Canada
7.3. Europe
7.3.1. Germany
7.3.2. UK
7.3.3. France
7.3.4. Rest of Europe
7.4. Asia Pacific
7.4.1. China
7.4.2. Japan
7.4.3. India
7.4.4. Rest of Asia Pacific
7.5. Latin America
7.5.1. Brazil
7.5.2. Mexico
7.5.3. Rest of Latin America
7.6. Middle East & Africa
Chapter 8. Company Profiles
8.1. Hyper Tech Research Inc.
8.1.1. Company overview
8.1.2. Product portfolio
8.1.3. Key developments
8.1.4. Financial performance
8.2. Superconductor Technologies Inc.
8.2.1. Company overview
8.2.2. Product portfolio
8.2.3. Key developments
8.2.4. Financial performance
8.3. American Superconductor
8.3.1. Company overview
8.3.2. Product portfolio
8.3.3. Key developments
8.3.4. Financial performance
8.4. Siemens AG
8.4.1. Company overview
8.4.2. Product portfolio
8.4.3. Key developments
8.4.4. Financial performance
8.5. Sumitomo Electric Industries, Ltd.
8.5.1. Company overview
8.5.2. Product portfolio
8.5.3. Key developments
8.5.4. Financial performance
8.6. Evico GMBH
8.6.1. Company overview
8.6.2. Product portfolio
8.6.3. Key developments
8.6.4. Financial performance
8.7. Metal Oxide Technologies Inc.
8.7.1. Company overview
8.7.2. Product portfolio
8.7.3. Key developments
8.7.4. Financial performance
8.8. Hitachi Ltd.
8.8.1. Company overview
8.8.2. Product portfolio
8.8.3. Key developments
8.8.4. Financial performance
8.9. AML Superconductivity and Magnetics
8.9.1. Company overview
8.9.2. Product portfolio
8.9.3. Key developments
8.9.4. Financial performance
8.10. Western Superconducting Technologies Co. Ltd.
8.10.1. Company overview
8.10.2. Product portfolio
8.10.3. Key developments
8.10.4. Financial performance
Chapter 9. Competitive Landscape
9.1. Competitive Landscape 2019
9.2. Global ranking/positioning
9.3. Strategic Framework