Magnesium Diboride Powder Market

The global Magnesium Diboride Powder market size was USD 31.18 million in 2023, and is calculated at USD 34.55 Million in 2024. The market is projected to reach USD 96.52 Million by 2034, and register a revenue 10.82% over the forecast period (2025-2034).

Premium Insights:

Global Magnesium Diboride Powder market revenue growth has been registering steady incline along with technological advancements and increasing use of semiconductors and advanced electronics and electrical systems and components. Global demand for magnesium diboride (MgB2) powder continues to rise, driven by increasing use of this cost-effective superconducting material in semiconductors, cables, magnets, motors, and other components and devices. It plays a crucial role in equipment and medical imaging systems, particle accelerators, power grid and energy applications, electronics, and particularly in the manufacture of Magnetic Resonance Imaging (MRI) machines. Magnesium diboride (MgB2) magnets have exhibited potential in next-generation liquid-helium-free magnets for magnetic resonance imaging application. This material is appealing due to relatively high superconducting transition temperature, high current density, and low cost of raw material compared with current commercial niobium-titanium (Nb-Ti) magnets.

In addition, magnesium diboride shows major potential in nuclear magnetic resonance, magnetic drug delivery, fault current limiters, transportation (Maglev trains), and cables, and research is ongoing for a variety of applications and possibilities. Magnesium diboride superconductors are promising for large-scale use, but their critical current density (Jc) at high magnetic fields is too low in bulk form. However, an international research team has recently developed a method to improve Jc by optimizing sintering conditions and adding nanoscale boron and dysprosium oxide impurities. This advancement could enable practical applications of bulk magnesium diboride in medicine, transport, and research, among other sectors and industries.

Rising focus on energy-efficient power grids and hybrid rocket propulsion systems is also expected to contribute to inclining demand. Increasing research in superconductivity applications, supported majorly by significant government and private sector funding, is also supporting market growth. These trends are also expected to accelerate further along with demand for more efficient, high-purity materials for various applications and industries, and also due to emerging technologies like quantum computing and rapidly evolving electronics market.

Magnesium diboride (MgB2) is typically derived from magnesium and boron, which are two raw materials known for creating a compound with exceptional superconducting properties. The primary end products include high-performance powders and coatings, which are essential in MRI machines, particle accelerators, and emerging quantum computing devices. The advantages of magnesium diboride stem from ability to operate at higher temperatures than traditional superconductors, reducing cooling costs and enhancing efficiency. This material is lightweight, and a cost-effective alternative to heavier superconducting materials, making it ideal for medical imaging and next-generation energy transmission systems.

Recent trends include significant advancements in particle size reduction, allowing for nano-scale applications that improve conductivity and magnetic properties. The development of higher purity grades, such as 99.99% pure magnesium diboride, is also expanding its applications in precision-based fields like aerospace and defense. In addition, rising R&D investments in Asia Pacific and North America are driving further innovation, with companies exploring uses of MgB2 wires and cables in power grid infrastructure and 99.5% purity magnesium diboride in hybrid propulsion technology. Outcomes of these trends will present easier accessibility and cost reduction benefits, and further strengthen position of magnesium diboride as a key material in superconductivity applications.

Top Magnesium Diboride Powder Market Drivers and Trends:

• Rising Demand for Superconducting Materials in Medical Imaging: Increasing funding in healthcare infrastructure and expansion of facilities and healthcare services and offerings is driving demand for various equipment, machines, devices, and systems used in the sector. This is also driving demand for magnesium diboride for use in the production of MRI machines. Besides the superior superconducting properties and lightweight, use in high-field MRI systems offers lower operational costs due to its higher-temperature performance.
• Expansion of Power Grid and Renewable Energy Infrastructure: Various countries are focused on modernizing power grids and integrating renewable energy sources, and this is expected to drive need for efficient transmission technologies. Magnesium diboride is lightweight and cost-effective, making it an attractive choice for energy applications like superconducting cables and transformers. These materials can help reduce energy loss, thus promoting sustainable power distribution systems, especially as governments continue to invest in green energy initiatives.
• Advancements in Hybrid and Aerospace Propulsion: Magnesium diboride has potential applications in hybrid rocket engines and aerospace propulsion systems due to lightweight nature and thermal stability. This versatility supports ongoing R&D in aerospace industries, and is contributing to market growth. As demand for high-performance propulsion technology increases, especially in North America and Europe, the potential for increasing use of magnesium diboride in these cutting-edge applications is also expected to rise.
• Increasing Investment in Quantum Computing and Electronics: Continuous advancements and innovations in electronics and quantum computing is expected to drive incline in demand for semiconductors and more energy-efficient and superior components and cables etc. Magnesium diboride continues to exhibit superior positioning in new and emerging applications and products owing to excellent superconducting capabilities, which facilitate faster, energy-efficient processors. Companies are also investing in R&D to enhance these applications, especially in countries with strong semiconductor industries such as Japan, South Korea, and the US, and demand for Magnesium Diboride Powder is only expected to continue to incline.
• Rising Healthcare Expenditure and Research Funding: Increased spending on healthcare and medical R&D globally is also a key factor expected to support growth of the Magnesium Diboride Powder market. Benefits from applications beyond MRI, including in other advanced medical equipment are expected to continue to encourage use of components and products in more innovative devices and systems for healthcare applications.

Magnesium Diboride Powder Market Restraining Factor Insights

• High Production Costs and Complexity: The process of synthesizing ultra-pure magnesium diboride, essential for high-performance applications, involves complex purification and handling, driving up costs. This high production cost restricts accessibility and use of this material in ultra-pure form, especially for smaller firms or in emerging markets where cost-effective alternatives are priority.
• Temperature Sensitivity and Operational Challenges: The superconducting properties of magnesium diboride work best at intermediate temperatures, generally requiring advanced cooling systems that can be challenging to maintain. In specific applications, such as those requiring sustained ultra-low temperatures, this limitation restricts its use compared to other superconductors that perform well at cryogenic temperatures.
• Research and Development Limitations: Ongoing R&D to enhance properties of magnesium diboride may be providing favorable results, but developing stable, cost-effective solutions remains challenging. As a newer material in superconductivity, magnesium diboride requires significant investment in R&D to achieve practical and scalable applications in fields like quantum computing or advanced energy transmission, which can slow commercialization.
• Alternative Materials and Competition: The availability of other materials with favorable superconducting properties, such as Yttrium Barium Copper Oxide (YBCO) and certain high-temperature superconductors, can add a level of competition in this market. These alternatives are better suited for certain specialized applications, which can prompt adoption or use, and have a negative impact on revenue share of the Magnesium Diboride Powder market.
• Health and Environmental Concerns: Handling and disposal of raw materials, particularly boron compounds, raise environmental and safety concerns, which could hinder adoption. Also, regulations around the use and disposal of these compounds can vary in regions with stringent environmental laws, and this can also potentially impact market growth to some extent.

Magnesium Diboride Powder Market Opportunities

• Expanding Applications in Emerging Industries: Ongoing advancements in electronics, quantum computing, and aerospace presents significant avenues for Magnesium Diboride Powder manufacturers to gain entry into emerging industries where superconductivity and energy efficiency are key focal points. By investing in R&D for nano-scale Magnesium Diboride Powders, companies can leverage demand from industries requiring precise, high-performance materials for applications like superconducting qubits and hybrid propulsion. This expansion into specialized sectors could provide stable, high-margin revenue streams as these industries grow.
• Market Expansion through Mergers and Acquisitions: Strategic mergers and acquisitions offer manufacturers an approach to quickly expand market share and diversify product offerings. Acquiring companies specializing in advanced ceramics or high-purity material synthesis, for instance, would allow magnesium diboride manufacturers and suppliers to broaden their portfolio and widen customer base. This can also create cross-market synergies, especially with companies targeting medical, energy, and electronics sectors, where demand for superconducting materials is strong.
• Collaborative R&D and Product Customization: By forming partnerships with research institutions and tech firms, companies can co-develop magnesium diboride products tailored to specific applications, such as more efficient superconducting wires or custom powders for aerospace use. Collaborative R&D minimizes costs, accelerates innovation, and aligns products with evolving industry standards, allowing companies to capitalize on demand in high-tech and medical fields.

Magnesium Diboride Powder Market Segmentation:

By Purity:

• Technical Grade (90-95% Purity)
• High Purity (96-98% Purity)
• Ultra-High Purity (99% Purity & Above)
• Specialty Grade (Custom Purity Levels)

By Particle Size:

• Nano-Scale Powder
• Micro-Scale Powder
• Sub-Micro Scale Powder

By Application:

• Superconductors
• Magnetic Resonance Imaging (MRI)
• Particle Accelerators
• Power Grid and Energy Applications
• Propulsion Systems
• Other

By End-User Industry:

• Healthcare and Medical
• Electronics and Electrical
• Energy & Power
• Research & Development
• Aerospace
• Other

Segment Insights:

By Purity:

In 2023, the ultra-high purity segment among the purity segments accounted for largest revenue share. Demand for 99% and above purity powder is high for use in advanced applications such as MRI machines and particle accelerators, where impurities must be minimized to ensure optimal conductivity and performance. Also, demand for such ultra-pure materials is particularly strong in research and healthcare sectors, driven by a need for precise and reliable materials in cutting-edge technologies. Technological advancements in purification processes also play a significant role in steady growth of this segment, as various innovations to improve the scalability and accessibility of ultra-pure Magnesium Diboride Powders open up further appeal for more specialized applications.

By Particle Size:

The nano-scale powder segment accounted for largest revenue share among the by particle size segments in 2023, and this can be attributed to enhanced superconducting properties, including superior conductivity and magnetic performance. These characteristics make nano-scale powder highly suitable for use in superconducting applications, where even minute improvements in conductivity can yield significant benefits. Also, the ongoing miniaturization trend in electronics and growing interest in nano-engineering are having a positive impact on demand for nano-scale powders, as the smaller particle size contributes to better material integration and performance in compact devices. Academic and industrial research further supports rising demand, as nano-scale powders are frequently used in experiments and product development, and this trend is expected to continue to support revenue growth of this segment.

By Application:

The superconductors segment accounted for largest share among the application segments in 2023, largely due to use of this MgB2 magnets in MRI machines and the potential role in power grid modernization. Superconducting materials, including magnesium diboride, are increasingly used in MRI machines due to ability to achieve high magnetic fields with low energy loss, thereby enhancing machine efficiency and performance. Also, the global push for more energy-efficient infrastructure is positioning potential for magnesium diboride in power grid applications. In addition, government and private sector funding aimed at advancing superconducting technology is expected to continue to support innovation and advancements across medical and energy sectors, and derive demand for superconductors and in turn support growth of the MgB2 powder market.

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By End-User Industry:

Among the end-user industry segments, the healthcare and medical segment accounted for largest revenue in 2023. Importance of MRI technology across the healthcare sector and capability of magnesium diboride superconductors to enhance imaging capabilities due to high conductivity and magnetic field strength are a combination of factors supporting growth of this segment. Also, rising healthcare expenditure, particularly in emerging economies, is driving a corresponding increase in demand for MRI machines and related superconducting materials. Ongoing advancements in medical imaging technology also support this growth, as demand for newer equipment drives parallel demand for materials like magnesium diboride to achieve the performance enhancements essential for cutting-edge diagnostics and treatment in the healthcare sector.

Regions and Countries

North America

• United States
• Canada
• Mexico

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India

Rest of Asia Pacific

• Latin America
• Brazil
• Argentina

Rest of Latin America

• Middle East & Africa
• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Rest of MEA

Magnesium Diboride Powder Market Regional Landscape:

Among the regional markets in 2023, Asia Pacific led with largest revenue share, and factors contributing to revenue growth include substantial advancements in superconducting applications and advanced manufacturing sectors, especially in China, Japan, and South Korea. These countries have been making significant investments in electronics, healthcare, and energy sectors, which rely substantially on superconductive materials like magnesium diboride. Focus in Japan and South Korea on electronic devices and strong investments in healthcare technology and superconductor research in China are also factors driving steady growth of the Asia Pacific Magnesium Diboride Powder market.

North America Magnesium Diboride Powder market is expected to register fastest revenue growth rate among the regional markets in the coming years, supported majorly by increasing R&D investment and advancements in superconductivity applications. Demand for magnesium diboride for applications in hybrid propulsion, MRI technology, and electrical power systems from the US and Canada has been steady and rising more recently. Also, presence of well-established research infrastructure and government funding for healthcare, energy, and advanced electronics sectors as well as rising investments in aerospace applications, coupled with ongoing innovations in power generation technologies, are expected to continue to support rapid revenue growth of the Magnesium Diboride Powder market in the region.

Europe Magnesium Diboride Powder market also holds a strong market position, led by high demand for Magnesium Diboride Powder and end-products from Germany, France, and the UK, where high-performance materials are essential for advanced research and healthcare applications and equipment.​

In the Latin America Magnesium Diboride Powder market, Brazil and Mexico are expected to represent high-growth potential with increasing healthcare infrastructure and rising focus on renewable energy. Currently however, the regional market accounts for a modest market share, but is expected to gain momentum in the near future.

Magnesium Diboride Powder Market Competitive Landscape:

Company List:

• Materion Corporation
• Stanford Advanced Materials
• Luoyang Tongrun
• Shanghai Xinglu Chemical Technology Co., Ltd.
• Jinzhou Haixin Metal Materials Co., Ltd.
• Mason Graphite Inc.
• BASF SE
• Gordon Holding
• Treibacher Industrie AG
• Mogul Chemicals
• Jiangxi Copper Corporation
• Alfa Aesar
• Nanjing Kinetics Co Ltd.
• Mitsubishi Materials Corporation
• Superconductor Technologies Inc.

Competitive Landscape:

The competitive landscape of the global Magnesium Diboride Powder market is evolving due to continuous innovation, strategic partnerships, and product diversification among key players. Leading companies, such as BASF SE, Mason Graphite Inc., and Treibacher Industrie AG, are leveraging advanced Research and Development (R&D) to improve material purity and performance, in order to meet increasingly stringent requirements of high-tech applications like superconductors and medical imaging. Companies are also adopting new purification and manufacturing techniques to enhance quality, thereby strengthening their market position and catering to industries requiring high-performance materials​.​

In addition, companies are entering into partnerships and collaborations to expand their consumer base while accessing technologies to enable further advancements. Companies are also working closely with research institutions to explore new applications in electronics and energy storage, diversifying their market presence beyond traditional uses. Product portfolio expansion is another key approach, as companies introduce magnesium diboride in various particle sizes and purity levels to meet specific industry needs. Furthermore, sustainability practices are gaining traction, with companies investing in eco-friendly production methods to align with global environmental standards, thereby attracting environmentally conscious consumers​. Companies are also targeting emerging markets, especially in Asia Pacific, by establishing regional distribution centers to lower costs and increase accessibility. ​​

Recent Developments

• October 12, 2023: ASG and CERN celebrated the completion of 1,450 kilometers of MgB2 round wire at ASG Superconductors in Genoa, Italy, specifically developed for the HL-LHC Superconducting Link project. This milestone marks the culmination of a journey that began with R&D of a novel, robust superconducting wire designed to transfer high currents at temperatures above 25 K, leading to large-scale industrial production. The wire, produced in lengths exceeding 3.5 kilometers, which is a significant achievement for high-temperature superconductors, is a crucial component of the superconducting link for HL-LHC. The R&D phase focused on improving mechanical properties of the wire, which enabled the complex cabling for the Superconducting Link. This includes eight high-current MgB2 transmission lines, which will deliver helium gas-cooled power to the HL-LHC superconducting magnets. This successful collaboration between CERN and industry has led to the large-scale production of the first ex-situ MgB2 superconducting wire used in a high-current (around 120 kA) power transmission project. The availability of this wire and its associated cables paves the way for further applications in power transmission across various sectors and the development of energy-efficient magnets.
• July 19, 2022: A paper published in Ceramics International on a study by researchers at the Shibaura Institute of Technology (SIT) investigated the potential for magnesium diboride (MgB2) superconductors to serve as cost-effective alternatives to traditional bulk magnets in medical machinery such as MRI and CT scanners, as well as electric motors. Unlike high-temperature superconductors that rely on rare earth metals and complex, costly fabrication processes, MgB2 offers several advantages: it is lightweight, cost-effective, and easier to shape into intricate designs. Researchers introduced an innovative approach using ultrasonication with distilled water, significantly refining boron for MgB2 superconductor production. This method not only reduces production costs by avoiding rare and expensive materials, but also enhances the magnetic properties of MgB2, making it more efficient as a superconducting material. The findings suggest that this technique could improve the viability of MgB2 superconductors in a range of applications, potentially accelerating adoption in advanced medical and industrial equipment.

Frequently Asked Questions:

Q: What is the global Magnesium Diboride Powder market size in 2024 and what is the projection for 2034?

A: The global Magnesium Diboride Powder market size was calculated at USD 34.55 million in 2024 and expected to reach USD 96.52 million 2034

Which regional market accounted for largest revenue share in 2023, and what is the expected trend over the forecast period?

A: Asia Pacific accounted for largest revenue share in the global market in 2023, and is expected to continue to register an inclining growth rate over the forecast period.

Q: Which are the major companies are included in the global Magnesium Diboride Powder market report?

A: Major companies in the Magnesium Diboride Powder market report are Materion Corporation, Stanford Advanced Materials, Luoyang Tongrun, Shanghai Xinglu Chemical Technology Co., Ltd., Jinzhou Haixin Metal Materials Co., Ltd., Mason Graphite Inc., BASF SE, Gordon Holding, Treibacher Industrie AG, Mogul Chemicals, Jiangxi Copper Corporation, Alfa Aesar, Nanjing Kinetics Co Ltd., Mitsubishi Materials Corporation, Superconductor Technologies Inc.

Q: What is the projected revenue CAGR of the global Magnesium Diboride Powder market over the forecast period?

A: The global Magnesium Diboride Powder market is expected to register a CAGR of 10.82% between 2025 and 2034.

Q: What are some key factors driving revenue growth of the Magnesium Diboride Powder market ?

A: Some key factors driving market revenue growth increasing demand for nitrogen-based fertilizers in agriculture, rising food security concerns, and expanding global population. Ammonium trioxonitrate or ammonium nitrate (with chemical formula NH4NO3), is also used in the manufacture of explosives and increasing mining activities and civil and infrastructure works are expected to drive demand.