Title: Superconducting Materials Market growth drivers & Challenges by 2024
1Superconducting Materials Market Price, Research
Report, Analysis from 2017 to 2024
2Global Market Scenario of Aluminum Alloys Industry
- The Superconducting Materials Market growth
trends are analysed from recent past with an eye
on coming years in this report that also offers
projections for Superconducting Materials
industry targeted at helping in business
decisions. - Superconducting Materials Market size is poised
to exceed USD 2 billion 2024 according to a new
research report by Global Market Insights, Inc. - Sturdy growth indicators in the medical industry
will be the major growth prospect for the global
superconducting materials industry in the coming
years. Substantial government investment towards
medical machinery equipment including MRI to
enhance operational efficiency will lift
superconducting materials market share in the
coming years. - The industry will follow similar growth dynamics
with electronics sector, as the product is
essentially used in several electronic items to
provide smooth conductivity.
3Continue-
- For instance, low temperature superconducting
material (LTS) owing to its excellent
transformation properties helps in providing high
critical current densities, which makes it
preferred in the electronic products. - Sturdy growth in RD across various sectors
including transportation, medical,
telecommunication, electronics, etc. will boost
demand for the product in the coming years. This
trend will in turn stimulate the superconducting
materials market size by 2024, as it is
essentially used in electronic items, medical
equipment, telecommunication, etc. - Rare earth elements including yttrium are used as
primary feedstock for manufacturing the product
which in turn lead to volatile prices due to
inadequate availability of feedstock. Thus,
wavering raw material price dynamics is likely to
hamper superconducting materials market size in
the coming years. - However, prevailing demand to create robust
magnetic field for its application in fast
trains, transformers, motors, wind turbines, etc.
shall create plentiful industry growth prospects
in the near future.
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5360 Industry Analysis
- Product Analysis-
- Aluminum alloy market price, based on product
types, is segmented into wrought and cast alloys.
Wrought alloys will likely have a considerable
share owing to its superior strength and lighter
weight than cast alloys. They find major
applications in the automotive and aerospace
industries. - Aluminum alloys market application segments are
categorized into construction, transportation,
packaging, electrical, machinery, and others
including consumer goods, etc. Construction
industry, driven by the increasing need for
shelters for the continuously growing population
in the urban areas, will generate revenue above
USD 35 billion in 2024.
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6Regional Analysis In 2016, Asia Pacific
superconducting materials market share
constituted for a major chunk of the industry
share. Substantial business size along with
decent growth rate by 2024 will be primarily due
to emerging economies primarily in China and
India due to noteworthy investment in medical,
RD and electronics industry resulting in budding
product use in the region. North America market
is forecast to attain CAGR of over 16 during the
forecast period owing to well established medical
sector with excellent diagnosing machinery
equipment. This will lead to increasing product
use in technologically advanced electronic
products, resulting in higher gains in the
superconducting materials business size by
2024. Competitive Analysis Key industry share
contributors of superconducting materials
are American Superconductor, Superconductor
Technologies Inc, Siemens AG., Hitachi Limited,
Hyper Tech Research Inc and Evico GMBH.
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