Superconducting Materials Market to Reach USD 14.2 Billion, Globally by 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Superconducting Materials market” that contains information from 2018 to 2032. The superconducting materials market is estimated to register a CAGR of 10.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global superconducting materials market— evico GMBH, Hitachi, Ltd., Hyper Tech Research, Inc., JAPAN SUPERCONDUCTOR TECHNOLOGY, INC. (JASTEC), MetOx Technologies, Inc., NEXANS, Sumitomo Electric Industries, Ltd., Super Conductor Materials Inc., Superconductor Technologies Inc., Super Power Inc., Western Superconducting Technologies Co, Ltd. and others.

Market Highlights

The global superconducting materials market is accounted to register a CAGR of 10.30% during the forecast period and is estimated to reach USD 14.2 Billion by 2032.

The superconducting materials market is advancing with the development of high-temperature superconductors, revolutionizing fields like energy transmission and medical devices by enabling efficient and powerful applications.

Segment Analysis

The global superconducting materials market has been segmented based product type and end-user industry.

On the basis of product type, the market is segmented into low-temperature superconducting materials (LTS) and high-temperature superconducting materials (HTS). The low-temperature superconducting materials (LTS) segment dominated the market in 2022. Select LTS materials are still employed in select MRI applications even though High-Temperature Superconductors (HTS) are the preferred material for high-field MRI equipment.

Based on end-user industry, the global superconducting materials market has been segmented into medical, electronics and other. The medical category generated the most income in 2022. The primary force in the medical industry is the use of superconducting magnets in high-field MRI equipment.

Regional Analysis

The global superconducting materials market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Superconducting materials market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Superconducting materials market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Superconducting materials market comprises of Middle East, Africa, and Latin America.

The North America superconducting materials market dominated this market in 2022 (45.80%). North America, and notably the United States, dominate the healthcare and medical research sectors. The market for superconducting materials is driven by the need for state-of-the-art MRI equipment in medical centers and academic institutions. These devices rely on superconducting magnets to generate the robust and steady magnetic fields required for high-resolution imaging.

Moreover, the Europe market has been persistently growing over the forecast period. The European Organization for Nuclear scientific (CERN), one of the many top-notch scientific institutions in the continent, uses superconducting materials in its particle accelerators and experiments. The need for enhanced superconducting materials is driven by the ongoing expansion of scientific research initiatives.

The Asia-Pacific superconducting materials market is expected to grow at the fastest CAGR from 2023 to 2032. More money is being spent on research and innovation in the Asia-Pacific area. Governments and commercial organizations collaborate on projects requiring superconducting materials, such as quantum computing and better electronics, which serves to increase demand.

Furthermore, the rest of the world's superconducting materials market is divided into the Middle East, Africa, and Latin America. The superconducting materials market in Latin America is on the rise, with advancements in high-temperature superconductors playing a pivotal role. These materials are transforming industries such as energy transmission and healthcare, offering efficient and powerful solutions to address regional needs for enhanced technology and infrastructure.

Key Findings of the Study

• The global superconducting materials market is expected to reach USD 14.2 Billion by 2032, at a CAGR of 10.30% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market as the Asia-Pacific region is spending more money on innovation and research


• Based on end-user industry, the medical segment was attributed to holding the largest market in 2022.


• evico GMBH, Hitachi, Ltd., Hyper Tech Research, Inc., JAPAN SUPERCONDUCTOR TECHNOLOGY, INC. (JASTEC), MetOx Technologies, Inc., NEXANS, Sumitomo Electric Industries, Ltd., Super Conductor Materials Inc., Superconductor Technologies Inc., Super Power Inc., Western Superconducting Technologies Co, Ltd. and others.