Superconductivity is a typical phenomenon in which zero electrical resistance and discharge of magnetic fields occurs in specific materials when cooled below a distinctive critical temperature. A superconductor is a basically a material that transfers electrons at critical temperature from one atom to another without generating any type of resistance (sound, heat, or any other form of energy). Superconducting materials typically include metals, compounds (covalent superconductors) and binary alloys. The demand for superconductors across the globe is growing swiftly owing to their increasing applications in healthcare, commercial and industrial sectors. Moreover, superconductors are also widely used in magnetic resonance imaging and in technologically advanced studies.
Furthermore, in future, the superconductors would be used in applications such as high-performance smart grid, power storage devices, transformers, electric power transmission, electric motors, fault current limiters, superconducting magnetic refrigeration and magnetic levitation devices. The rising demand for superconductors in all such existing and future applications is expected to drive the global superconducting materials market in the near future.
Superconducting metals comprise aluminum, cadmium, gallium, hafnium, mercury, indium, iridium, lanthanum, molybdenum, osmium, protactinium, niobium, lead, rhenium, ruthenium, tin, tantalum, technetium, thorium, titanium, thallium, uranium, vanadium, tungsten, zinc and zirconium. Moreover, various graphite compounds are used as superconducting materials. Furthermore, binary alloys such as lanthanum hexaboride, magnesium diboride, niobium-germanium, niobium monoxide, niobium nitride, niobium-tin, niobium-titanium, yttrium borides, titanium nitride and zirconium nitride among others are used for producing superconductors. The growing demand for superconductors in various superconductivity applications is predicted to drive the demand for superconducting materials in the next few years.
Asia Pacific is expected to be the fastest growing market for superconducting materials in the coming years. The major reason for this is the growing demand from developing countries such as China, India and South East Asian countries such as Thailand, Indonesia, Vietnam and Malaysia. In addition, the countries in the geographies such as Africa, South America and the Middle East are showing vigorous economic growth since the last few years. These nations mainly include South Africa, Argentina, Brazil, Saudi Arabia, Jordan, Egypt and Israel. Additionally, the U.S. and the European economies are slowly but surely recovering from the economic slump. All such industrial, economic, and demographic factors are eventually creating a positive prospect for the global economy.
Considering this positive prospect, the industries such as electrical, electronics, automotive and healthcare are expected to record an astonishing growth in the near future. There is an astounding market potential for the electrical and electronics industry in the countries such as China, India, Thailand, Indonesia, Vietnam and Brazil among others. The major companies operating in the electronics industry are principally focusing on these developing economies for tapping their immense market potential. The key manufacturers of advanced electronic products are setting research and development facilities in these growing countries. Due to this, the demand for superconducting materials in different end-user industries such as electronics, electrical, automotive and healthcare is expected to grow at a remarkable rate in the next six years. Therefore, the global superconducting materials market is projected to experience a momentous growth in the coming years.
Some of the major companies operating in the global superconducting materials market are Glencore Xstrata plc, Lonmin plc., Alcan Inc., Alcoa Inc., Cabot Corp., DuPont, Astron Advanced Materials Ltd., Iluka Resources Limited, Tosoh Corp. and China Minmetals Corp. among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
More Reports on Semiconductors and Electronics Market: http://www.transparencymarketresearch.com/semiconductor-market-reports-5.html
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