The Global Magnesium Diboride Powder Market Size is valued at 34.87 million in 2023 and is predicted to reach 78.49 million by the year 2031 at a 10.75% CAGR during the forecast period for 2024-2031.
Magnesium diboride is widely employed in the electronics industry due to its superconducting qualities. Magnesium diboride is crushed with silver and utilized in superconducting wires. It is used to match superconducting radio frequencies. In recent years, the Magnesium Diboride Powder Market has seen promising growth due to applications in the healthcare sector. Increasing demand from end-use sectors such as electronics and electrical, healthcare, and energy is likely to boost market expansion. Despite the fact that it is widely assumed to be a typical (phonon-mediated) superconductor, it is a rather unusual superconductor.
However, the market was affected by the COVID-19 pandemic, including supply chain analyses, impact evaluations on market size growth rate scenarios, and corporate responses to the COVID-19 pandemic. The mining sector has been closed down due to social alienation and other factors, resulting in a major fall in mineral output levels. This element has impeded the entire mining sector, negatively impacting overall market production.
The magnesium diboride powder market is segmented on the basis of purity and application. Based on purity, the market is segmented as 99%, ≥99.5%, and others. The application segment includes electrical power, propulsion, accelerator magnets, medicine, and others.
The 99% category is expected to hold a significant share of the global Magnesium Diboride Powder Market in 2024. Magnesium Boride, a closed-loop cryocooler employed in the MRI superconducting magnet, has superconducting properties derived from high purity grade (99%) compounds widely available from leading market enterprises for industrial applications. It can be used to make high-temperature boron-based piezoelectric materials. Small particle size and high surface area powder can also be utilized to pace up the reaction with Mg and reduce the grain size of the MgB2 product. Furthermore, it has been established that undesired contaminants promote weak-link behavior, lowering MgB2's critical current. As a result, magnesium diboride powder that is 99% or purer is favored. These elements are propelling this segment's revenue growth.
The electrical power segment is projected to grow at a rapid rate in the global Magnesium Diboride Powder Market. In spite of its critical temperature of 39 K, the superconductor MgB2 has enormous potential for a wide range of electric power applications. The essential parameters of state and properties required for application in power devices have developed quickly in recent years, and at 4.2 K, they currently match or even outperform some high-temperature superconducting copper oxide perovskites in the 20 to 25 K range. Furthermore, considerable progress has been made in developing wire shapes that are economically scalable for large-scale production. All of these outstanding properties prove that MgB2 has a great deal of potential in both power applications and electrical devices, and these elements are propelling this segment's revenue growth.
Asia Pacific magnesium diboride powder market is expected to report the highest market share in terms of revenue in the near future. This is due to increased demand for magnesium diboride as an electrical medium in MRI machines and improved application of magnesium diboride in power generation facilities in countries such as Japan and China, which will boost revenue development in this region.
North America is anticipated to account for the highest revenue CAGR during the projection period, owing to rising demand for hybrid propulsion systems and ramjet technology, as well as increasing demand for power generation systems and electrical power applications such as electric wires and generators, as well as the presence of significant market companies and strategic initiatives undertaken by them, as well as increased R&D activities in various countries throughout the region.
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Report Attribute |
Specifications |
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Market size value in 2023 |
USD 34.87 Mn |
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Revenue forecast in 2031 |
USD 78.49 Mn |
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Growth rate CAGR |
CAGR of 10.75% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Purity And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Stanford Advanced Materials, Shanghai Xinglu Chemical Technology Co., Ltd., Materion Corporation, Luoyang Tongrun, Jinzhou Hoixin Metal Materials Co., Ltd., Hitachi, Ltd., Thermo Fisher Scientific, Inc. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Magnesium Diboride Powder Market Snapshot
Chapter 4. Global Magnesium Diboride Powder Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Purity Estimates & Trend Analysis
5.1. by Purity & Market Share, 2023 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Purity:
5.2.1. 99%
5.2.2. ≥99.5%
5.2.3. Others
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2023 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Electrical Power
6.2.2. Propulsion
6.2.3. Accelerator Magnets
6.2.4. Medicine
6.2.5. Others
Chapter 7. Magnesium Diboride Powder Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Purity, 2023-2031
7.1.2. North America Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.1.3. North America Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.2. Europe
7.2.1. Europe Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Purity, 2023-2031
7.2.2. Europe Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.2.3. Europe Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Purity, 2023-2031
7.3.2. Asia Pacific Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.3.3. Asia Pacific Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.4. Latin America
7.4.1. Latin America Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Purity, 2023-2031
7.4.2. Latin America Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.4.3. Latin America Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Purity, 2023-2031
7.5.2. Middle East & Africa Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by Application, 2023-2031
7.5.3. Middle East & Africa Magnesium Diboride Powder Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Stanford Advanced Materials
8.2.2. Shanghai Xinglu Chemical Technology Co., Ltd.
8.2.3. Materion Corporation
8.2.4. Luoyang Tongrun
8.2.5. Jinzhou Hoixin Metal Materials Co., Ltd.
8.2.6. Hitachi, Ltd.
8.2.7. Thermo Fisher Scientific, Inc.
8.2.8. Other Prominent Players
Magnesium Diboride Powder Market By Purity-
Magnesium Diboride Powder Market By Application-
Magnesium Diboride Powder Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
