Grand View Research, Inc: Global Superconducting Magnet Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2015 To 2022.
Global superconducting magnet market is presumed to have positive growth over the next seven years owing to growing demand from numerous end-use applications. This magnet is used for the working of MRI machines and for producing the nuclear magnetic resonance (NMR) apparatus. Growing medical industry in developing regions is expected to be beneficial for the overall market demand. Nuclear waste recycling is another important end-use industry. This magnet is used for nuclear waste stabilization. In paper production industry it is used for eliminating magnetic contamination from wood pulp. These growing trends varied across wide range of industries are predicted to drive the global superconducting magnet market. Uncertain technological awareness among industry participants on account of nascent stage of the industry is predicted to hinder the overall market growth.