Superconducting Materials Market to Reach US$1,298.4 Million by 2020, Driven by Surging Demand from Healthcare.

A recently released report from Transparency Market Research (TMR) forecasts that the global superconducting materials market will expand at a whopping 17.2% CAGR from 2014 to 2020. TMR, a U.S.-based market intelligence company, indicates that the global superconducting materials market will reach a market value of US$1,298.4 million by 2020, up from US$427.5 million in 2013. The report, titled ‘Superconducting Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’, is available for sale on the company website. As per the findings of this research report, rising demand for MRIs in the healthcare sector and surging demand for electric motors are the key market drivers for the global superconducting materials market. The rising popularity of superconducting materials can be attributed to their ability to carry electricity without any energy loss.

This TMR research report segments the global superconducting materials market on the basis of product, application, and geography. There are two types of superconducting materials, namely low temperature and high temperature. In 2013, the low temperature superconducting materials segment held the highest share in the overall market. However, owing to extensive R&D, the segment of high temperature superconducting materials will expand robustly in the forthcoming years. Moreover, highly advanced applications and use of high temperature superconducting materials in niche areas of application will increase the share of the high conducting superconducting materials segment in the near future. 

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The application of superconducting materials can be observed in the areas of electronics, healthcare, research and development, and others. The healthcare application segment of the superconducting materials market has always been the dominant one and is expected to retain its leading position during the forecast period as well. Power utilities, military, and transportation are the other areas of application in the global superconducting materials market.According to this report, geographically, Asia Pacific holds the highest share in the overall superconducting materials market owing to widespread use of low temperature superconducting materials in medical imaging applications. Rising health awareness coupled with a large population are the key drivers of the Asia Pacific superconducting materials market, which is projected to expand at a CAGR of 18% between 2014 and 2020. Much of the demand for superconducting materials in North America comes from the areas of energy generation and particle research. 

The key companies in the global superconducting materials market are as follows: Siemens AG, Metal Oxide Technologies Inc., Hyper Tech Research Inc., Hitachi Ltd., Superconductor Technologies Inc., Evico GMBH, and American Superconductor. Fluctuating raw material prices continue to hamper the growth of the global superconducting materials market. Also, surging popularity of superconducting magnets will create several opportunities for growth in the global superconducting materials market. 

Browse the full Superconducting Materials (Low Temperature (LTS) and High Temperature (HTS) Market for Medical, Research and Development, Electronics and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/superconductors-market.html

Superconducting Materials Market - Product Segment Analysis

• Low temperature superconducting materials (LTS)
• High temperature superconducting materials (HTS)

Superconducting Materials Market - Application Analysis

• Medical
• Research and development
• Electronics
• Others (Including transportation, energy generation, etc.)

Superconducting Materials Market - Regional Analysis

• North America
• Europe
• Asia Pacific
• Rest of the World (RoW)

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. 

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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