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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Superconductor material easily conducts electricity without any resistance. They are capable of conducting electricity without any loss of energy and have various potential properties such as high heat capacity and critical temperature. Superconductor materials are widely used across various industries including medical where it is used in magnetic resonance imaging (MRI) machines.

The global superconducting materials market is estimated to be valued at US$ 1,522.4 million in 2021 and is expected to exhibit a CAGR of 17.2 % over the forecast period (2021-2028).

Recent Developments:

In September 2021, Superconductor Technologies Inc. merged with Allied Integral United, Inc. Following the completion of the Merger, the businesses being conducted by the Company became the continuation of primarily, AIU's business, including the continued development of its virtual, in-home care service - Clearday at Home, and its membership-based daily care offering - Clearday Club.

In May 2021, Allied Integral United Inc., entered into an updated merger agreement with Superconductor Technologies, or STI.

Asia Pacific region held dominant position in the global superconducting materials market in 2020, accounting for 40.8% share in terms of value, followed by North America and Europe, respectively. As the medical industry in the Asia- Pacific region has witnessed a major growth in recent years which is likely to drive the market.

Figure 1. Global Superconducting Materials Market Value (US$ Mn), by Region, 2020

Superconducting Materials  | Coherent Market Insights

Global Superconducting Materials Market: Drivers

The growing demand for electric motors across superconducting materials is expected to foster market growth. Electric motors are majorly used in applications such as compressors, fans, elevators, and pumps. Increasing consumption of electricity due to growing populations is projected to propel the market growth. Superconducting materials enhance the efficiency of electric motors and thus growing demand for electric motors is expected to augment the market growth of the superconducting materials.

Robust growth in the electronic industry across developing regions is expected to drive the market growth of the superconducting materials. Growing consumer spending’s on various electronic products due to increasing disposable income is also projected to propel the market growth. The growing penetration of electric vehicles around the globe in order to curb the growing carbon emission and growing strict environmental regulations is again projected to augment the market growth of the superconducting materials.

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Superconducting Materials Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 1,522.4 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 17.2% 2028 Value Projection: US$ 4,637.7 Mn
Geographies covered:
  • Regions: North America, Europe, Asia Pacific, Rest of the world
Segments covered:
  • By Product Type: Low-temperature Superconducting Materials (LTS), High-temperature Superconducting Materials (HTS)
  • By Application: Medical, Electronics, Research & Development, Others 
Companies covered:

Superconductor Technologies, Inc., American Superconductor, Evico GmbH, Hitachi, Ltd., Metal Oxide Technologies, Inc., Siemens AG, Hyper Tech Research, Inc., Toshiba Corporation, and Sumitomo Electric Industries Ltd

Growth Drivers:
  • Growing demand for electric motors across superconducting materials 
  • Robust growth in the electronic industry across developing regions
Restraints & Challenges:
  • High operating cost at low voltage (power distribution) 
  • High manufacturing cost of superconductor and lack of standard testing facility

Global Superconducting Materials Market: Opportunities

Potential market opportunities across sectors such as healthcare, Industrial processing, transportation, research, and electronics & communication is propelling market growth. Robust growth in the aforementioned industry across developing countries due to the increasing disposable income of the consumers is augmenting the market growth of the superconducting magnets. Thus, the emerging application of the product across the aforementioned end-user industry is stimulating market growth.

Increased research and development activities by manufacturers for developing innovative and new products with enhanced properties are projected to offer to bring opportunities. Major manufacturers are investing heavily in R&D to encourage innovation in the product in order to obtain a competitive advantage around the globe. Thus, growing such research and development activities around the globe for continuous product innovation will favor the market growth in the near future.

Market Trends:

Low-temperature superconducting materials are gaining traction in the market. It has broad application across MRI and nuclear magnetic resonance (NMR) in the healthcare industry. Moreover, low-temperature superconducting materials are cost-efficient and also has stable operational properties when compared to high-temperature superconducting materials. Additionally, high-temperature superconducting materials are quite expensive which is again propelling demand for low-temperature superconducting materials.

Improving standard of living coupled with the changing lifestyle of the consumer is driving demand for advanced electronic gadgets. This is creating a huge demand for superconducting materials. The increasing population and growing number of various players in the domestic as well as international market are again expected to foster the market growth of the superconducting materials. All these factors are influencing the overall growth of the superconducting materials market.

Figure 2. Global Superconducting Materials Market Share, By Application, 2020

Superconducting Materials  | Coherent Market Insights

Key Takeaways of the Graph:

  • Among application, the medical segment held dominant position in the market and accounted for 75.6% share in the global superconducting materials market in 2020. The segment is expected to reach US$ 4,637.7 million in 2028. Owing to surge in demand for magnetic resonance imaging (MRI) machines in the past few years owing to the rising health issues and concerns globally. 

Global Superconducting Materials Market: Restraints

High operating cost at low voltage (power distribution) is limiting the adoption of superconducting materials. This is expected to hinder the market growth over the forecast period.

High manufacturing cost of superconductor and lack of standard testing facility is expected to hamper the market growth. Moreover, mismatch demand and supply in terms of a superconductor is also projected to restrict the market growth of superconducting materials.

Global Superconducting Materials Market: Competitive Landscape

Major players operating in the global superconducting materials market include, Superconductor Technologies, Inc., American Superconductor, Evico GmbH, Hitachi, Ltd., Metal Oxide Technologies, Inc., Siemens AG, Hyper Tech Research, Inc., Toshiba Corporation, and Sumitomo Electric Industries Ltd.

Superconducting Materials are those which have a high conductivity level, i.e. the ones which can be used for various applications because they have no elastic limit at high temperatures or in extreme pressure conditions. The unique feature of superconducting materials is that they can be cooled down to very low temperatures without losing any of their properties, and still maintain their super-conducting properties after cooling down to room temperature. Many superconductors have already been developed and tested at low temperatures. Some popular superconductors include buckles, roll-off tapes, thin films, thin rods, thin wires, and magnetic bearings.

Market Dynamics:

Increasing adoption of electric grid system is expected to propel growth of the global superconducting materials market. For instance, in August 2021, ComEd, an electric utilities company and American Superconductor announced the successful integration of American Superconductor’s REG system, which utilizes high-temperature superconductor wire to enhance the reliability, resiliency and performance of the electric power grid.

Major players operating in the global superconducting materials market are focused on adopting M&A strategies to enhance their market share. For instance, September 2021, Superconductor Technologies Inc. announced to change its name to Clearday, Inc. after its merger with Allied Integral United, Inc.

 Key features of the study:

  • This report provides in-depth analysis of the global superconducting materials market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global superconducting materials market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Superconductor Technologies, Inc., American Superconductor, Evico GmbH, Hitachi, Ltd., Metal Oxide Technologies, Inc., Siemens AG, Hyper Tech Research, Inc., Toshiba Corporation, and Sumitomo Electric Industries Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global superconducting materials market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global superconducting materials market

Detailed Segmentation:

  • Global Superconducting Materials Market, By Product Type:
    • Medical
    • Research & Development
    • Electronics
    • Others
  • Global Superconducting Materials Market, By Function Type:
    • Low temperature superconducting materials (LTS)
    • High temperature superconducting materials (HTS)
  • Global Superconducting Materials Market, By Region:
    • North America
      • Product Type
        • Medical
        • Research & Development
        • Electronics
        • Others
      • Function Type
        • Low temperature superconducting materials (LTS)
        • High temperature superconducting materials (HTS)
      • By Country
        • Canada
        • U.S.
    • Europe
      • Product Type
        • Medical
        • Research & Development
        • Electronics
        • Others
      • Function Type
        • Low temperature superconducting materials (LTS)
        • High temperature superconducting materials (HTS)
      • By Country
        • U.K.
        • France
        • Germany
        • Rest of Europe
    • Asia Pacific
      • Product Type
        • Medical
        • Research & Development
        • Electronics
        • Others
      • Function Type
        • Low temperature superconducting materials (LTS)
        • High temperature superconducting materials (HTS)
      • By Country
        • China
        • India
        • ASEAN
        • Australia
        • Rest of Asia Pacific
    • Latin America
      • Product Type
        • Medical
        • Research & Development
        • Electronics
        • Others
      • Function Type
        • Low temperature superconducting materials (LTS)
        • High temperature superconducting materials (HTS)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Product Type
        • Medical
        • Research & Development
        • Electronics
        • Others
      • Function Type
        • Low temperature superconducting materials (LTS)
        • High temperature superconducting materials (HTS)
      • By Sub-Region
        • Middle East
        • Africa
  • Company Profiles
    • Sonoco Products Company*
      • Company Overview
      • Product Portfolio
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Sealed Air Corporation
    • Packaging Corporation of America
    • Packaging Corporation of America
    • BASF SE
    • Cascades Inc.
    • Pregis Corporation
    • Ranpak Corp
    • Storopack Hans Reichenecker GmbH
    • Advanced Protective Packaging Ltd

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, Product Type
      • Market Snippet, Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • PEST Analysis
      • PORTER’s Five Forces Analysis
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
  4. Global Superconducting Material Market - Impact of Coronavirus (Covid-19) Pandemic
    • Overview
    • Factors Affecting Global Superconducting Material Market – COVID-19
    • Impact Analysis
  5. Global Superconducting Material Market, By Product Type, 2017- 2028 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Low temperature superconducting materials (LTS)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn)
    • High temperature superconducting materials (HTS)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn)
  6. Global Superconducting Material Market, By Application, 2017- 2028 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, 2021 - 2028
      • Segment Trends
    • Medical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn)
    •  Research & Development
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn)
    •   Electronics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 - 2028, (US$ Mn)  
  7. Global Superconducting Material Market, By Region, 2017- 2028 (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, For Region, 2021 - 2028
    • North America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.S.
        • Canada
    • Latin America
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Europe
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Share Analysis, By Country, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Country, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Country
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Middle East & Africa
      • Market Share Analysis, By Sub-Region, 2020, 2022 and 2028 (%)
      • Y-o-Y Growth Analysis, By Sub-Region, 2021 – 2028
      • Market Share Analysis, By Product Type, 2020, 2022 and 2028 (%)
      • Market Share Analysis, By Application, 2020, 2022 and 2028 (%)
      • By Region
        • Middle East
        • Africa
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Superconductor Technologies, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • American Superconductor
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Evico GmbH
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hitachi, Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Metal Oxide Technologies, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Siemens AG
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Hyper Tech Research, Inc.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Toshiba Corporation
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
      • Sumitomo Electric Industries Ltd.
        • Company Overview
        • Component Portfolio
        • Financial Performance
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 50 market data tables* and 45 figures* on "Pressure Sensitive Adhesives Market” - Global forecast to 2028.

FAQgrowicon

Frequently Asked Questions

The global superconducting material market size is estimated to be valued at US$ 1,522.4 Million in 2021 and is expected to exhibit a CAGR of 17.2% between 2021 and 2028.
Growing demand for electric motors across superconducting materials and robust growth in the electronic industry across developing regions are factors boosting demand for superconducting materials.
High operating cost at low voltage (power distribution) and high manufacturing cost of superconductor and lack of standard testing facility are factors hindering growth of the market.
The market was valued at US$ 1,298.4 million in 2020.
By application, medical segment held dominant position in the market in 2020.
Low-temperature superconducting materials are gaining traction in the market.
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