Superconducting Materials Market Size, Share & Trends Analysis, By Product Type (Low Temperature Superconducting, High Temperature Superconducting Material), By End User Industry (Energy, Medical, Research & Development) By Region and Forecast Period 2022 – 2030. (Updated Version Available)

Report ID - MRC_1084 | Pages - 296 | Category - Electronics and Semiconductors

Superconducting Materials Market Overview:

Superconducting Materials Market Size was valued at USD 8.39 Billion in 2021, registering a CAGR of 9.49% during the forecast period (2022-2030), and is anticipated to hit around 18.97 Billion by 2030.

Superconducting material are materials that exhibits negligible electrical resistance when cooled below a certain threshold temperature. They could be metal, non-metal or metalloids in nature. Zirconium, vanadium, titanium, Mercury, zinc, tungsten, lithium, silicon are few most common examples of superconducting materials. These materials have varied applications in fields like medical industry, energy, electronics, telecom industry & defense and others. In medical industry, these materials play a critical role in the functioning of diagnosis machines such as MRI machine, CT scan, X- RAY machine and others. Superconducting material follows Meissner principle, hence this material present zero electrical resistance.

Furthermore, the demand for superconducting materials is estimated to rise during the forecast period as they have several applications across industries. Particularly, the demand from energy sector is estimated to outperform rest other markets and the reason behind this demand will be generated from green energy sector (wind and solar). These superconducting materials are capable of transmitting electricity more efficiently with minimal energy loss. This make them crucial component of electricity transmission in energy industry.

For instance, the government of India announced an investment of 2.44 trillion rupee in order to achieve the target of 500 GW green energy capacity by the year 2030. This includes installation of 8000+ circuit kilometer of transmission cables. Such ambitious initiatives by the major countries to develop green energy infrastructure will positively impact superconducting materials market demand.

Market Dynamics:


Continuous growth in medical and diagnosis industry has augmented the demand of superconducting materials, as they are critical in medical instruments. Furthermore, with rise in disposable incomes of Asia pacific region, the demand for electronic devices has increased the requirement for superconducting materials. Top players from consumer durable industry have stepped up their investments in R&D to develop new devices with better attributes. This is expected to surge the demand for these materials as the launches of product innovations have gained a pace. Furthermore, the growth of green energy infrastructure is also anticipated to fuel the demand for superconducting materials as they have crucial application is transmission equipment. These materials work exceptionally well when used in Magnetic levitation of transportation vehicles like high speed bullet trains. Thus, the aforementioned factors are the major drivers which increase the revenue generation from superconducting materials market.


Volatile prices of raw material which is crucial for development of superconducting materials is the major constraint faced by this market. The raw materials like yttrium are generally rare to find naturally which results in the overall increased exploration cost as this adds up during the extraction process. Another major constraint is limited life span of superconducting materials. This poses as a major limiting factor in its wide adoption in energy transmission infrastructure as they are generally build for long tenures.

COVID-19 Impact:

Initially, COVID -19 had negative impact on superconducting materials market with several restrictions being imposed by governments in order to curb the spread of COVID virus. These restrictions resulted into supply chain bottleneck causing cessation of manufacturing activities across the sector. With labor shortages due to restrictions, Commencement of new projects were delayed which further resulted into diminished demand for superconducting materials. But now in 2022, the economy has been reopened and is showing positive growth trends. The market demand is back at pre-COVID levels with no major constraints. These positive trends are estimated to last for prolonged period and will likely propel the demand for superconducting materials to new highs.

Superconducting Materials Report Coverage:

Report Attributes Report Details
Study Timeline 2016-2030
Market Size in 2030 (USD Billion) 18.97 Billion
CAGR (2022-2030) 9.49%
By Product Type Low Temperature Superconducting (LTS), High Temperature Superconducting Material (HTS)
By End Use Energy, Medical, Research & Development, Electronics, high speed locomotives And Others.
By Geography North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Key Players Evico Gmbh, Brukerenergy & Supercon Technologies, Inc., Metal Oxide Technologies, Hyper Tech Research, Hitachi Ltd., Inc., Superpower, Inc., Siemens AG, Southwire Co., Superconductor Technologies, Inc., Sumitomo Electric Industries Ltd., American Superconductor.

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Market Segmentation:

By Product Type

The product type segment is separated into low temperature superconducting (Lts) and high temperature superconducting material (Hts). The low temperature superconducting material segment held major market size at the time of study. These type of materials have simpler manufacturing process as compared to that of Hts. This makes them suitable for applications at mass scale in low level electric motors and appliances. On the other hand, the hot temperature superconducting material (Hts) have highly specialized and niche applications in the field of research and medical Hts. This segment is anticipated to gain majority superconducting materials market share during the forecast period. The reason being technological advancements which have reduced the production cost. Moreover, with surging investments into research and scientific studies the demand for these materials is set to rise. In recent times the Hts have found there use into electricity transmission lines which are far more efficient in transmission then traditional electric lines.

By End Use

The end-user segment is categorized into energy, medical, research & development, electronics, and other industries. In this segment, the largest market share is captured by the medical industry. The reason being abundant applications in high-end diagnostic machines like MRI’s and CT scan machines. Also, these materials have crucial applications in the field of biomagnetism. With more developments and advancements in the medical industry, the demand for superconducting materials is set to rise.

Applications in high-speed locomotives have also witnessed a rise in recent times. As superconducting materials are very effective in generating magnetic-levitation which virtually results in zero resistance between engine and the tracks. For instance, the test vehicle achieved a speed of 603 Kph when it ran on magnetic tracks made from superconducting materials at Yamanashi Maglev Test Line in initial development years (1997). This segment offers the scope of innovations in coming years as governments all over the world have initiated the rising spending in development of high-speed rail corridors. In the electronics industry, these materials are extensively used in development of generators that have a whopping 99% efficiency with half the length of wire than that in traditional generators as they pose zero resistance.

By Region

The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa & Latin America. This segment was majorly dominated by the Asia Pacific region. This region has massive consumption of electricity. In fact, Asia pacific region has more the double electricity requirement than the of North American region,

This high consumption results in requirement for a robust transmission system that could efficiently transmit electricity with minimal drainage. Thus, the need for superconducting materials is high. Furthermore, major countries like China and India have set targets to achieve net zero emissions which will further push the demand for these materials. The main reason is attributed to the crucial role of these materials in development of new green energy transmission infrastructure.

Superconducting Materials Market Competitive Landscape:

The competitive landscape of the market have been studied in this report, with the detailed profiles of the key market players functioning in this industry. It was noticed that augmented spending in Research and Development (R&D), product innovation, business strategies, and product launches have resulted into accelerated growth of this market. Key players in this market include-

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Superconducting Materials Market Size, Share & Trends Analysis, By Product Type (Low Temperature Superconducting, High Temperature Superconducting Material), By End User Industry (Energy, Medical, Research & Development) By Region and Forecast Period 2022 – 2030. (Updated Version Available)
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