Superconducting Materials Market (Updated Version Available)

Superconducting Materials Market Size, Share & Trends Analysis, By Product Type (Low-temperature Superconducting Materials (LTS), and High-temperature Superconducting Materials (HTS)), Application (Magnetic Resonance Imaging (MRI), Magnetoencephalography (MEG), Magnetic-Energy Storage Systems, Electric Power Generators, Electric Motors, Power Transmission, and Others ), End Use (Medical Devices, Electronics Industry, and Others) By Region, Forecast Period 2023 - 2030

Report ID : RI_673838 | Date : March 2023 | Format : ms word ms Excel PPT PDF

This Report Includes The Most Up-To-Date Market Figures, Statistics & Data
Key Market Overview:

Superconducting Materials Market size was valued at USD 5.50 Billion in 2022, registering a CAGR growth of 9.8% during the forecast period (2023-2030), and the market is projected to be valued at USD 11.62 Billion by 2030.

Superconducting materials are materials that can conduct electricity with zero electrical resistance at extremely low temperatures. This phenomenon, known as superconductivity, occurs when certain materials are cooled below a critical temperature. There are two types of superconducting materials namely, low-temperature superconductors (LTS) and high-temperature superconductors (HTS). LTS requires cooling to temperatures as low as -269°C using liquid helium. HTS, on the other hand, operates at higher temperatures, usually between -135°C to -165°C using liquid nitrogen which is more cost-effective and easier to handle than liquid helium. Additionally, superconducting materials offer several advantages over conventional conductors, including zero electrical resistance, higher current densities, and magnetic fields. This makes them highly attractive for various applications such as power transmission and distribution systems, medical equipment, high-performance computing, and transportation systems.

Furthermore, technological advancements in the superconducting field by the major key players are resulting in various other opportunities for use in different applications. For instance, superconducting materials are being used in the development of quantum computers that can perform complex calculations rapidly. Quantum computers utilize superconducting circuits to store and manipulate quantum information that is likely to have significant implications in fields such as drug discovery, cryptography, and materials science.

Superconducting Materials Market Report Coverage:

Report AttributesReport Details
Study Timeline2017-2030
Market Size in 2030 (USD Billion)11.62 Billion
CAGR (2023-2030)9.8 %
Base Year2022
By Product TypeLow-temperature Superconducting Materials (LTS), and High-temperature Superconducting Materials (HTS)
By ApplicationMagnetic Resonance Imaging (MRI), Magnetoencephalography (MEG), Magnetic-Energy Storage Systems, Electric Power Generators, Electric Motors, Power Transmission, and Others
By End UseMedical Devices, Electronics Industry, and Others
By Geography
  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]

  • North America [United States, Canada, Mexico]

  • Middle East & Africa [GCC, North Africa, South Africa]

  • South America [Brazil, Argentina, Columbia, Chile, Peru]
  • Key PlayersAIQ Smart Clothing Inc., Bebop Sensors Inc., Clothing+ Ltd., Interactive Wear AG, Outlast Technologies LLC, Schoeller Textil AG, Microsoft, Sensoria Inc., Nike, Inc., HEXOSKIN (CARRÉ TECHNOLOGIES INC.), and DuPont de Nemours, Inc.

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    Market Dynamics:


    • The growing need for high-performance computing for applications such as weather forecasting, artificial intelligence, and big data analytics is driving demand for superconducting materials. Superconducting circuits have the potential to enable faster and more efficient computing, making them attractive for use in next-generation computers.

    • Superconducting materials are used in medical equipment such as magnetic resonance imaging (MRI) machines and particle accelerators, essential for the diagnosis and treatment of various diseases. The increasing demand for medical equipment in the healthcare sector is accelerating the growth of the superconducting materials market.


    Superconducting materials are generally more expensive than traditional conductors, which is likely to limit their adoption in certain applications. The cost of materials, cooling systems, and related infrastructure can be a significant barrier to entry for some companies. For instance, some high-temperature superconductors require expensive liquid nitrogen cooling and add to the overall cost of the system. Therefore, limiting the adoption of superconducting materials in various sectors.


    Superconductors are being explored as a promising solution for generating sustainable fusion energy, which involves the fusion of atomic nuclei to release energy. These materials are utilized to generate strong magnetic fields that are likely to contain and regulate the plasma utilized in fusion reactors, thus, enabling the generation of significant amounts of energy. For instance, a team of researchers from the Plasma Science & Fusion Center at the Massachusetts Institute of Technology, in collaboration with Commonwealth Fusion Systems, are planning to utilize superconducting technology to manufacture magnets on a scale suitable for fusion. Thereby, generating lucrative opportunities for the superconducting materials market over the forecast period.

    Market Segmentation:

    By Product Type

    The product type segment is categorized into low-temperature superconducting materials (LTS) and high-temperature superconducting materials (HTS). In 2022, the low-temperature superconducting segment accounted for the highest market share due to their requirement of extremely low temperatures, usually below -269°C, to operate effectively. LTS materials include niobium-titanium (NbTi) and niobium-tin (Nb3Sn) alloys, commonly used in applications such as MRI machines, particle accelerators, and fusion reactors. However, the high-temperature superconducting segment is expected to be the fastest-growing over the forecast period in the superconducting materials market owing to their widespread use in applications such as power generation, fault current limiters, and magnetic levitation systems.

    By Application

    The application segment is divided into magnetic resonance imaging (MRI), magnetoencephalography (MEG), magnetic-energy storage systems, electric power generators, electric motors, power transmission, and others. The MRI segment accounted for the highest share of the superconducting materials market. This is due to the widespread usage of superconducting materials in MRI for several years driven by the increasing prevalence of chronic diseases and an aging population.
    However, electric power generators are expected to be the fastest-growing segment in the superconducting materials market during the forecast period as superconducting materials are used in electric power generators owing to their ability to reduce energy losses and increase efficiency.

    By End Use

    Based on the end-use segment, the market is segmented into medical devices, the electronics industry, and others. In 2022, the medical devices segment dominated the superconducting market due to the application of superconducting materials in a variety of medical devices, such as MRI machines, magnetoencephalography (MEG) systems, and particle accelerators for cancer treatment. For instance, the use of superconducting magnets in MRI machines has become increasingly common due to their ability to produce stronger and more stable magnetic fields than traditional electromagnets, resulting in higher-quality images. Moreover, the electronics industry is anticipated to witness significant growth in the market over the forecast period. This is attributed to the fact that superconducting materials have potential applications in the electronics industry, such as in the development of high-speed computing and communication devices, quantum computers, and sensitive detectors for scientific research.

    By Region

    By region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounted for the highest market share in 2022. This is due to the rising population coupled with increasing concerns regarding health among individuals owing to which the demand for medical equipment such as MRI and magnetoencephalography is increasing in the region. Additionally, the major end-users of superconducting materials such as medical devices, electronics, and power transmission are also boosting the market in the region due to the heavy demand for superconducting materials in these industries for various applications.

    However, North America is expected to be the fastest-growing region in the superconducting materials market during the forecast period. The government in North America has been actively supporting research and development activities through funding and grants. For instance, the U.S. Department of Energy (DOE) announced USD 9.1 million in capital for 13 projects in Quantum Information Science (QIS) with significance to nuclear physics. This has led to the establishment of several research centers and collaborations between industry and institutes, further driving innovation and growth in the superconducting materials market.

    Superconducting Materials Market Competitive Landscape:

    The market is highly competitive, with a large number of players operating at the global and regional levels. The players compete on various parameters such as price, quality, innovation, and customer service. They are constantly investing in research and development to improve their products and expand their market share. Mergers, acquisitions, and partnerships are also common strategies employed by companies to enhance their market position and expand their product portfolio. Key players in the market include-

    • American Superconductor
    • Evico GmbH.
    • Metal Oxide Technologies, Inc.
    • BrukerEnergy &Supercon Technologies, Inc.
    • SuperPower Inc., (The Furukawa Electric Co., Ltd.)
    • Sumitomo Electric Industries Ltd.
    • Western Superconducting Technologies
    • NEXANS
    • Cryomagnetics
    • Hyper Tech Research

    Recent Developments:

    • In November 2022, Philips has collaborated with MagCorp, a magnet solutions provider from the United States, to investigate the potential of superconducting magnets for MR scanners that can function without the need for cooling to extremely low temperatures of -452°F or -269°C using liquid helium.

    • In April 2022, a research team led by Associate Professor Mazhar Ali at TU Delft uncovered the possibility of one-way superconductivity without the presence of magnetic fields. Superconductors have the potential to enhance the speed of electronics by several hundred times while maintaining zero energy loss.
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