Quantum materials market set to reach $96.9 billion by 2032

The global race to develop and deploy quantum-ready materials is accelerating rapidly, with new data projecting the quantum materials market to soar from $10.42 billion in 2024 to $96.9 billion by 2032. Driven by breakthroughs in quantum computing hardware, next-generation semiconductors, and topological electronics, the sector is now one of the fastest-growing deep-tech markets worldwide, DataM Intelligence reports.

If you are interested in semiconductor innovation, materials engineering, or emerging quantum technologies, this trend highlights where new opportunities, challenges, and competitive pressures will surface over the coming decade.

Quantum materials are a class of engineered or naturally occurring materials whose properties are governed by quantum mechanical effects such as superposition, entanglement, or topological protection. These traits enable conductivity without resistance, ultra-efficient switching, or finely tunable optical responses, which are capabilities essential for quantum processors, advanced sensors, and energy-efficient electronics. As quantum technology moves from concept into real-world applications, understanding and monitoring these materials becomes critical for Europe’s semiconductor ecosystem, research institutes, and next-gen device developers.

Market drivers

According to DataM Intelligence, the market’s aggressive CAGR of 32.15% through 2032 is powered by several converging forces. Quantum computing commercialization remains a primary engine, backed by more than $5 billion in public investment and $2.3 billion in private funding in 2024 alone. These systems require ultra-pure superconducting materials, photonic components, and defect-engineered diamonds to fabricate scalable qubits.

In addition, a boom in quantum sensors is reshaping medical imaging, defense navigation, and space applications. Devices built on superconducting films, nitrogen-vacancy diamonds, and topological materials are enabling leaps in precision and sensitivity.

Meanwhile, the semiconductor industry is increasingly turning to 2D materials, graphene layers, and topological insulators to push device performance while reducing energy consumption. According to the report, this trend is particularly relevant in Europe, where research consortia and semiconductor manufacturers are intensifying work on quantum-grade materials.

Segment and regional highlights

Topological insulators led all material categories in 2024 with 26% market share, valued at $2.7 billion, followed by graphene and quantum dots at 23% and 18% respectively. On the application side, quantum computing held the largest share at 38%, driven by demand for qubit fabrication materials and photonic chips. Quantum sensing followed at 27%, the report indicates.

Regionally, the United States dominated the market with 41% of global revenue, supported by $3.2 billion in federal quantum R&D funding and increased deployments of quantum sensors and quantum-secure communication pilots. With Europe expanding its quantum computing roadmaps and semiconductor capacity, the rapid evolution of the quantum materials landscape presents significant strategic implications for research labs, foundries, and system developers across the continent.