Superconducting Materials Market - Forecast(2023 - 2028)

Report Code: CMR 75047 Report Format: PDF + Excel

Superconducting Materials Market Overview

Superconducting Materials Market is expected to be valued at US$1.6 billion by the end of the year 2027 after growing at a CAGR of 15.3% during the forecast period from 2022-2027. The superconducting materials market has been witnessing exponential growth owing to the increase in the use of superconducting materials across various end-use industries. Superconducting materials have excellent electrical resistance and magnetic resonance. Superconductors have a wide scope of application in the medical industry, specifically in MRI technologies owing to technological advancements in the medical industry. Superconducting materials are extensively used in electrical cabling and magnetic flux fields. Furthermore, the increase in demand for highly effective electric motors is also a major driving factor of the superconducting materials market.

COVID-19 Impact

Amid the Covid-19 pandemic, the superconducting materials market has been affected in terms of production and logistics. The major economic shutdown across the globe due to the pandemic has severely affected the mobility of the business, which has in turn impacted the growth and demand for superconducting materials market. The situation is however expected to improve by the year ending 2021.

Superconducting Materials Market Report Coverage

The report: “Superconducting Materials Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Superconducting Materials Industry.

By Product Type: Type 1 and Type 2.
By Material Type: Low Temperature, Medium Temperature, and High Temperature.
By Application: Wires & Cables, Coils, Fault Current Limiters, Wind Turbine Generators, Flat Components, and Others.
By End-Use Industry: Healthcare, Electronics, Energy and Power, Telecommunication, Automotive and Transportation, and Others.
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, France, Netherlands, Belgium Spain, Russia and Rest of Europe), APAC (China, Japan India, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways

  • Asia-Pacific market held the largest share in the Superconducting Materials market due to the high application of low temperature superconductors in medical applications such as MRI and NMR.
  • The increase in need for effective electric motors is also driving the demand for superconducting materials.
  • The increase in demand from various end-use industries, due to the technological advancements such as high-speed trains, bio-magnetism and cryogenics.

FIGURE: Asia-Pacific Superconducting Materials Market Revenue, 2021-2027 (US$ Billion)

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Superconducting Materials Market Segment Analysis - By Product Type 

Type 2 superconductors segment held the largest share of more than 55% in the superconducting materials market in the year 2021. Type 2 superconductors, also known as semiconductors that have high critical temperature and high critical magnetic field and is good conductor of electricity. The use of type 2 superconducting materials in the medical appliances such as MRI and NMRs, has contributed to the increase in demand for superconducting materials. The increase in the production of MRI devices is giving boost to the type 2 superconductors in the market. According to Arkenea, the health tech industry is anticipated to reach US$280 billion by the year end of 2021, which is hugely driving the medical equipment market, and is further increasing the demand for type 2 superconductors in the health tech industry.

Superconducting Materials Market Segment Analysis - By Material Type

High temperature superconductors segment held the largest share of more than 25% in the superconducting materials market in the year 2021. The technological applications of high temperature superconducting materials in niche application areas such as bio magnetism and bullet train manufacturers are increasing the demand for high temperature superconductors. The increase in adoption of bullet trains in many countries such as Japan, the US, South Korea, UAE, and China and the increasing trend in the adoption and research in the field of bio magnetic therapy in the healthcare industry is also highly driving the demand for high temperature superconductors in the superconducting materials.

Superconducting Materials Market Segment Analysis - By Application

Wires and Cables segment held the largest share more than 25% in the superconducting materials market in the year 2021. Wires and cables have the most use and multi-purpose across various end-use industries for various machinery and devices. Wires and cables are an essential part of various electric devices, therefore making it the most sought-after application in the superconducting materials market. According to GSM Association, the Unified communications as a service will grow at a rate of 9.5% to reach US$24.8 million by the year 2024, which will further drive the demand for wires and cables market as it is an essential component in a Tele-communication industry.

Superconducting Materials Market Segment Analysis - By End-Use Industry

Medical Industry segment held the largest share of more than 30% in the superconducting materials market in the year 2021. Rising demand for MRI and NMR devices from the medical field is the biggest driving factor of superconducting materials. The increasing health standards and awareness in various countries is contributing to the growth of superconducting materials market. The increase in the use of superconducting materials in medical technology is set to drive the demand for the superconducting materials market.

Superconducting Materials Market Segment Analysis – By Geography

Asia-Pacific region held the largest share of more than 40% in the superconducting materials market in the year 2021. This is influenced by the high application of low temperature super conductors in medical applications. The large population coupled with increasing health awareness in the region has led to the increase in demand for medical devices which in turn has given rise to the demand for superconducting materials. The total value of Asian healthcare market reached US$ 2660 in 2020. According to Invest India, the medical device sector is projected to register a CAGR of 14.8% and is expected to reach $11.86 bn in 2021-22. The investment of startups in the health tech industry was valued at US$140.2 million, which is driving the superconducting materials in health tech industry in the region.

Superconducting Material Market Drivers

Increase in need for high voltage transmission applications in the medical industry

The increase in need for medical devices due to various dis-abilities and medical conditions in the present generation is giving rise to the demand for superconducting materials market. The increase in the recent trend for high voltage transmission applications in the medical industry such as cathode ray tubes, X-rays and other medical application devices is driving the superconducting materials in the healthcare industry. The increase in number of diseases is increasing the demand for such medical equipment's which is increasing the demand for superconducting materials, that has good electrical resistance and magnetic resonance. According to Heart disease and stroke statistics—2020 update: a report from the American Heart Association, about 655,000 Americans die from heart disease every year, that is 1 in every 4 deaths. Furthermore, a mysterious case of brain disease was reported in few people in Canada during the beginning of the year 2021 by the Canadian government. This will increase the demand for X-rays, cathode ray tubes and other medical applications. The increase in use and demand of medical devices is therefore increasing the demand for superconducting materials.

Growing demand for effective electric motors 

The increase in demand for effective electric motors in various end use industries has increased the demand for superconducting materials. Electric motors used in electric vehicles utilizes superconducting materials for most of its process. According to International Energy Agency, the sales of electric cars topped 2.1 million globally in 2019, registering a 40% year-on-year increase. Only about 17 000 electric cars were on the world’s roads in 2010. By 2019, that number had swelled to 7.2 million, which is contributing to the growth of superconducting materials market in the electrical vehicles industry.

Superconducting Materials Market Challenges

Volatility in the prices of certain raw materials

Certain raw materials such as yttrium has a very volatile pricing system, which is one of the biggest challenge faced by the superconducting materials market.  The volatility in the price can be attributed to the supply constraints of yttrium. The price of yttrium was valued at INR 4,961.0 per 10 grams as on April 2021. This price is quite expensive for the quantity. This is one of the biggest challenges restraining the growth of superconducting materials market.

Superconducting Materials Industry Outlook

Expansions, acquisitions and mergers, new product launches, collaborations and investments are some of the key strategies adopted by players in this market. Superconducting Materials top 10 companies include:

  1. American Superconductor (AMSC)
  2. Fujikura Ltd. (Japan)
  3. Metal Oxide Technologies, Inc.
  4. Hyper Tech Research, Inc.
  5. Superconductor Technologies (STI), Inc.
  6. Bruker Corporation (U.S.)
  7. evico GmbH
  8. Hitachi, Ltd.
  9. Siemens AG
  10. Furukawa Electric Co., Ltd. (Japan).

Acquisitions/Technology Launches

On October 05, 2020, AMSC acquired Northeast Power Systems Inc., a New-York based company for $26 million, which will further strengthen the presence of AMSC in the region. This will help in broadening the portfolio of AMSC in  medium voltage metal-enclosed capacitor banks, harmonic filters, fast switching reactive power solutions and surge protection products.

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1. Superconducting Materials Market- Market Overview
    1.1 Definitions and Scope
2. Superconducting Materials Market - Executive Summary
    2.1 Key trends by Product Type
    2.2 Key trends by Material Type
    2.3 Key trends by Application
    2.4 Key trends by End-Use Industry
    2.5 Key trends by Geography
3. Superconducting Materials Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Superconducting Materials Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Superconducting Materials Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Superconducting Materials Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Superconducting Materials Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Superconducting Materials Market – By Product Type (Market Size -$Billion)
    8.1 Type 1
    8.2 Type 2
9. Superconducting Materials Market – By Material Type (Market Size -$Billion)
    9.1 Low Temperature
    9.2 Medium Temperature
    9.3 High Temperature
        9.3.1 First Generation
        9.3.2 Second Generation
10. Superconducting Materials Market – By Application (Market Size -$Billion)
    10.1 Wires and Cables
        10.1.1 Spiral Shielded Wires
        10.1.2 Electric Wires
        10.1.3 Coaxial Cables
        10.1.4 Thunderbolt Cables
    10.2 Coils
    10.3 Fault Current Limiters
    10.4 Wind Turbine Generators
    10.5 Flat Components
    10.6 Others
11. Superconducting Materials Market – By End-Use Industry (Market Size -$Million/Billion)
    11.1 Healthcare
    11.2 Electronics
    11.3 Energy & Power
    11.4 Telecommunication
    11.5 Automotive & Transportation
    11.6 Others
12. Superconducting Materials Market - By Geography (Market Size -$Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Superconducting Materials Market – Entropy
    13.1 New Product Launches
    13.2 M&As, Collaborations, JVs and Partnerships
14. Superconducting Materials Market – Industry/Segment Competition Matrix Premium
    14.1 Company Benchmarking Matrix- Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Superconducting Materials Market – Key Company List by Country Premium Premium
16. Superconducting Materials Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7    
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"