Low-Temperature Superconductors Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The low-temperature superconductors market is anticipated to grow at a significant CAGR of 5.6% during the forecast period (2022-2028). Low-temperature superconductor, which typically refers to Nb-based alloys (Titanium) and A15 (Vanadium and Nickel) superconductors. “Temperature” here refers to the temperature below which the superconductor must be cooled in order for it to become superconducting, for low-temperature superconductors that temperature is usually well below 20 K (-253°C).Titanium alloy has become the dominant commercial superconductor asit can be economically manufactured in a ductile form with the prerequisite nano-structure needed for high critical current density generated by strong vortex pinning. Tin, while being based on the brittle A15 intermetallic phase, can be made into robust composites with fine-grain nanostructures and high critical current densities in km lengths. The major factor driving the growth of the market is the rising usage of magnetic resonance machines (MRI) machines in the healthcare sector in which low-temperature superconductors are used.

The global low-temperaturesuperconductors market is segmented based ontype and application. Based ontype, the market is sub-segmented intotitanium, vanadium, nickel, tin and others. Based on application, the market is sub-segmented into medical, electronics, and others. Among these applications, the medical sector has the major application of low-temperature superconductors asthe rising usage of MRI machines in the healthcare sector is driving its growth. The MRI machines are used for the diagnosis of tumors in the body.Thus, high prevalence of tumor is also a factor boosting the demand for MRI machines, which in-turn drive the market growth.

The market players are contributing significantly to the market’s growth by adopting various strategies, including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in November 2021, Researchers ofChina and Russia had discovered superconductivity in two new phases of a hydride material at pressures much lower than those needed to stabilize other recently-discovered hydride superconductors. The work will aid the search for lower-pressure and potentially room-temperature superconductors.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- American Superconductor Corp., Bruker Corp., Cryomagnetics, Inc., Fujikura Ltd., Japan Superconductor Technology, Inc., and Sumitomo Electric Industries, Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Low-Temperature Superconductors Market Report by Segment

By Type

• Titanium
• Vanadium
• Nickel
• Tin
• Others

By Application

• Medical
• Electronics
• Others