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Superconducting Materials Market

Global superconducting materials market size was valued at US$ 1,001.5 million in 2018 and is expected to register a CAGR of 4.85 in terms of revenue during the forecast period (2019-2027).
Superconducting Materials Market Size, Trend - 2027
The superconductivity of material is a phenomenon where there is zero
electrical resistance and expulsion of magnetic flux fields in typical materials
called superconductors when they are cooled below the critical temperature. In
other words, the superconductivity of material is the ability to transfer electrons
from atom to another without witnessing any sort of resistance at the critical
temperature. Metals, binary alloys, and metals compounds are typical
superconductors. Superconducting materials are used in various industries
including manufacturing, healthcare, and commercial. Moreover,
superconducting materials are used in power storage devices, power grids,
electric motors, transformers, electric power transmission, magnetic levitation,
fault current devices, and superconducting magnetic refrigeration. Gallium,
cadmium, aluminum, vanadium, zinc, tungsten, thorium, lead, titanium,
osmium, rhenium, tin, niobium, lanthanum are superconducting metals.
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Market Regional Analysis
Asia Pacific is projected to gain significant market share in global
superconducting materials market during the forecast period. Increasing demand
for superconducting materials from emerging economies such as India,
Thailand, China, Indonesia, Malaysia, and Vietnam are expected to propel the
market growth. Africa, Middle East, and Latin America have shown lucrative
environment for the market, owing to growing use of superconducting materials
in electronics industry. Moreover, European economies and the U.S. are
recovering from economic fall, which is expected to boost the market growth in
the near future.
Market Players
Major players operating in the global superconducting materials market are
Lonmin plc, Iluka Resources Limited, Cabot Corp., Glencore Xstrata plc, Alcoa
Inc., China Minmetals Corp., Alcan Inc., Tosoh Corp., DuPont, and Astron
Advanced Materials Ltd.
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