Dublin, July 05, 2021 (GLOBE NEWSWIRE) -- The "Superconducting Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The global superconducting materials market is expected to grow with a CAGR greater than 10% during the forecast period. One of the major factors driving the market is the increasing expenditures on medical machinery & equipment. However, inadequate availability of feedstock materials such as Yttrium is hindering the growth of the market studied.
Growing demand from the electronics industry is another major driver for the market studied. Among the end-user industries, the medical industry is likely to account for the highest market share during the forecast period. Asia-Pacific is expected to witness the highest growth rate during the forecast period.
Key Market Trends
Medical Sector is Expected to Dominate the Market
- Currently, medical sector accounts for the highest market share of the global superconducting materials market
- There has been a surge in demand for magnetic resonance imaging (MRI) machines in the past few years owing to the rising health issues and concerns globally.
- Superconducting materials are required in MRI machines to provide energy in order to maintain the large magnetic fields. Superconducting materials try to reduce the resistance in the wires to almost zero.
- Also, governments in several developing countries have increased their expenditure in the medical sector in order to improvise equipment efficiency.
- Owing to the above-mentioned factors, the medical sector is expected to witness the highest demand for superconducting materials during the forecast period.
Asia-Pacific to Dominate the Market
- In the recent past, there has been significant growth in the demand for superconducting materials in the Asia-Pacific region.
- The surge in demand is majorly attributed to the increasing electrical & electronics production in the region.
- China and India are expected to witness strong growth in the demand for superconducting materials, owing to the favorable government support to the electrical & electronics industry to increase production.
- Additionally, the medical industry in the Asia- Pacific region has witnessed a major growth in recent years which is likely to drive the market studied
- Hence, owing to the above-mentioned factors, Asia-Pacific is likely to witness the highest growth rate during the forecast period.
Competitive Landscape
The global superconducting materials market is moderately consolidated as the majority of the market share is divided among few players. Some of the key players in the market include evico GmbH, Hitachi, Ltd., Nexans, SuperPower Inc., and Sumitomo Electric Industries, Ltd., among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Expenditures on Medical Machinery & Equipments
4.1.2 Growing Demand from the Electronics Industry
4.2 Restraints
4.2.1 Inadequate Availability of Feedstock Materials such as Yttrium
4.2.2 Impact of COVID-19 Pandemic
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Low-temperature Superconducting Materials (LTS)
5.1.2 High-temperature Superconducting Materials (HTS)
5.2 End-user Industry
5.2.1 Medical
5.2.2 Electronics
5.2.3 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 ASEAN Countries
5.3.1.6 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 evico GMBH
6.4.2 Hitachi Ltd.
6.4.3 Hyper Tech Research, Inc.
6.4.4 JAPAN SUPERCONDUCTOR TECHNOLOGY, INC.
6.4.5 Metal Oxide Technologies LLC
6.4.6 Nexans
6.4.7 Sumitomo Electric Industries, Ltd
6.4.8 Super Conductor Materials, Inc.
6.4.9 Superconductor Technologies Inc.
6.4.10 SuperPower Inc.
6.4.11 Western Superconducting Technologies Co,Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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