Magnesium Diboride Powder Market Size, Share, Growth, and Industry Growth by Type (Academic Research and Enterprise Production) By Application (Application A, Application B, and Others) Regional Forecast (2022-2027)

REPORT OVERVIEW

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The global magnesium diboride powder market size was USD 3,117.38 million in 2020. The global COVID-19 pandemic has been unprecedented and staggering, with magnesium diboride powder experiencing lower-than-anticipated/higher-than-anticipated demand across all regions compared to pre-pandemic levels.  As per our research, the market is exhibiting a CAGR of 11.04% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Magnesium diboride (MgB2) is a low-cost and straightforward superconductor. The magazine Nature published an article about its superconductivity. It has the greatest critical temperature (Tc) among ordinary superconductors, at 39 K (-234 °C; -389 °F). Although this material was first synthesized and its structure verified in 1953, it was not until 2001 that its superconducting qualities were revealed. The discovery sparked a lot of interest.

The inorganic substance magnesium diboride powder (MgB2) has the formula MgB2. It's a dark gray solid that's insoluble in water. Because it turns superconducting around 39 K (234°C), the compound has gotten a lot of attention. Purity 99 percent, Purity 99.5 percent, and others are the most common types of magnesium diboride powder. Powder-in-tube (PIT) ex situ and in situ methods can be used to make superconducting magnesium diboride wire. A combination of boron and magnesium is lowered in diameter by ordinary wire drawing in the in-situ form. MgB2 is then formed by heating the wire to the reaction temperature.

COVID-19 Impact: Halt on Production and Supply Chain Disruption to Impede Sales. 

The magnesium diboride powder market report examines the impact of the Covid-19 including supply chain analysis, impact assessments on market size growth rates in various scenarios, and company responses to the COVID-19 epidemic. Due to the COVID-19 outbreak, mining activity has decreased. Due to social alienation and other circumstances, the mining sector has been shut down, resulting in a significant reduction in mineral output levels, which are unable to fulfill current demand. This aspect has hampered the total mining sector, which has had a detrimental impact on overall market production.

LATEST TRENDS

"Increasing Advancements to Bolster Market Progress"

Scientists have known about magnesium diboride for around 50 years, but no one had ever looked into its superconductivity - if it could conduct electrical current flawlessly, without resistance, when cooled to temperatures near absolute zero. In January 2001, Jun Akimitsu of Tokyo's Aoyama Gakuin University revealed that he and his research team have discovered that magnesium diboride becomes superconducting at 39 Kelvin (-389 F), about double the temperature of current intermetallic superconductors. Following the revelation, scientists all over the world scrambled to replicate and corroborate the Japanese findings.

Segmentation

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• By Type Analysis

By type, the market is segmented into Academic Research and Enterprise Production.

• By Application Analysis

Based on application, the market is classified into Application A, Application B, and Others.

DRIVING FACTORS

"Increasing Demand in Chemical Industry to Facilitate Industry Progress"

It is a somewhat uncommon superconductor, despite the fact that it is commonly thought to be a standard (phonon-mediated) superconductor. Its electronic structure is such that at the Fermi level, there are two types of electrons with vastly different properties, one of which (sigma-bonding) is considerably more strongly superconducting than the other (pi-bonding). This contradicts traditional phonon-mediated superconductivity ideas, which imply that all electrons behave in the same way. With two energy gaps, theoretical comprehension of the characteristics of MgB2 is practically complete. It was thought to act more like a low-Tc metallic than a high-Tc cuprate superconductor.

"Increasing Adoption in Various Applications to Magnify Market Growth"

Magnesium diboride could be used in superconducting magnets, power transmission lines, and sensitive magnetic field detectors, among other things. Magnesium diboride is a new material that has attracted a lot of attention. Research has primarily focused on the synthesis and superconducting element performance for industrial synthesis and sintering properties, electrical conductivity at room temperature, and liquid aluminum erosion resistance of fluoride, such as corrosive resistance study. So far, no MgB2 and its composite materials have been used in aluminum electrolysis cathodic area coverage. MgB2 is more easily sintered and densified than TiB2, and its electrical conductivity is similar to that of an aluminum electrolytic cathode. As a result, MgB2 and its composite materials are anticipated to be widely used as aluminum electrolytic cathode materials.

RESTRAINING FACTORS

"High Costs and Poor Mechanical Performance to Impede Market Progress"

Higher production cost is likely to hinder the magnesium diboride powder market growth.

REGIONAL INSIGHTS

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"Presence of a Developed Infrastructure to Bolster Growth in Asia Pacific"

Asia Pacific is expected to dominate the magnesium diboride powder market share because of the technology breakthroughs and China's highly developed construction and chemical sectors, and ongoing expenditures in the region to improve the agriculture segment over time. The refractory industries consume a significant amount of magnesite. Therefore, the presence of magnesite during the steel-making process is critical.

Ceramics are in high demand from both the residential and industrial sectors in Asia-Pacific, due to the region's expanding building business. In recent years, rising road construction operations in developing regions have increased demand for magnesite.

KEY INDUSTRY PLAYERS

"Key Players to Boost Demand Leading to Market Growth"

Due to the existence of several established players participating in various marketing techniques to enhance their market share, the magnesium diboride powder industry is extremely competitive and fragmented. Price, quality, brand, product differentiation, and product portfolio are used to profile the market's providers. Vendors are increasingly emphasizing product customization through client contact. In addition, the incorporation of expansion strategies enables companies to set up their manufacturing facilities globally and boost their reach. 

List of Market Players Profiled

• Materion Corporation (U.S.)
• Stanford Advanced Materials (U.S.)
• Luoyang Tongrun (China)
• Shanghai Xinglu Chemical Technology Co., Ltd. (China)
• Jinzhou Haixin Metal Materials Co.,Ltd (China)

REPORT COVERAGE

The research is based on firsthand knowledge, qualitative and quantitative analysis by industry analysts, and contributions from industry experts and participants across the value chain. The research examines parent market trends, macroeconomic data, and controlling factors in depth, and magnesium diboride powder market appeal by segment. The qualitative influence of key market factors on market segments and regions is also mapped out in the report.