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Super Abrasives Market Competitiveness, Forecasting and Insights for the Next Decade

Super Abrasives Market Competitiveness, Forecasting and Insights for the Next Decade

The recent “Super Abrasives Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “Super Abrasives Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global Super Abrasives Market Analysis and Growth Forecast:

The global super abrasives market held a market value of USD 6,351.5 Million in 2020 and is projected to reach USD 9,767.4 Million by the year 2027. The market is anticipated to grow at a CAGR of 6.5% from 2017 to 2027.

Super abrasives are special tools utilized for precision grinding. They are known as super abrasives owing to their unparalleled performance, extraordinary hardness, and longevity. The market is majorly driven owing to the conventional abrasives substituted by super abrasives and the use of diamond in grinding wheels for precision & machining tools. However, the high-performance application coupled with high initial cost and the lack of raw material availability & stringent regulations is anticipated to negatively hamper the market growth.

Competitive Landscape

Major players in the global Super Abrasives market include Action SuperAbrasive, 3M, Asahi Diamond Industrial Co. Ltd, CarborundumUniversal Ltd, Diametal AG, Element Six (UK) Limited, Finzler, Schrock & Kimmel GmbH, Henan Huanghe Whirlwind Co., Ltd., Husqvarna AB, Hyperion Materials & Technologies, ILJIN DIAMOND CO., LTD, Noritake, Saint-Gobain S.A., SHOWA DENKO K.K., Super Abrasives Inc., and Zhengzhou ZZDM Superabrasives Co., Ltd., among others.

The cumulative market share of the five major players is near about 40.5%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in April 2021, Hyperion Material & Technologies completed the acquisition of Crafts Technologies, a manufacturer of high-precision manufacturer of custom-made cemented tungsten carbide solutions. Furthermore, in June 2020, Element Six launched the DNV-B1, a general-purpose chemical vapor deposition quantum grade diamond. This expanded company’s product portfolio.

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Growth Influencers:

Conventional abrasives substituted by super abrasives

Conventional abrasives include silicon carbide and corundum, among others. They are natural grains usually blended or fuelled with other abrasive grains so that the grinding wheel can perform as required. On the other hand, super abrasives use synthetic or natural diamonds or CBN, a synthetic grain. They have substituted conventional abrasives, as they can run at higher speeds, and their thermal stability is also higher. This also adds to their long life. They also require less dressing as compared to their conventional counterparts due to their durability. For instance, if a manufacturer has 30 to 40 parts per dress with a conventional abrasive, they have 1,200 parts per dress for a CBN abrasive. This makes it ideal for high-volume environments as well. All these factors are expected to positively influence market growth.

Usage of diamond in grinding wheels for machining and precision tools

Diamond is the most used precision tool grinding method for cutting tools which are utilized for making stamping dies, precision machinery components, and injection molds. The diamond is grown on industrial scales to supply the tremendous demand of the metalworking industry globally. These diamonds are also more uniform in shape as well as hardness, as compared to natural diamonds. Furthermore, diamonds are significantly harder than conventional abrasives, such as silicon carbide and aluminum oxide. Such factors are anticipated to fuel growth in super abrasives market.

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Segments Overview:

The global Super Abrasives market is segmented into product, application, and industry.

By Product

Cubic boron nitride (CBN)
Vitrified CBN
Electroplated CBN
Resin Bond CBN
Metal CBN

Diamond
Vitrified Diamond
Electroplated Diamond
Resin Bond Diamond
Metal Diamond

The diamond segment is anticipated to grow at the fastest growth rate of 6.7% owing to the rising demand for diamonds in manufacturing cutting and grinding tools. The CBN segment is also expected to grow significantly owing to its properties such as thermal conductivity, high electrical resistance, and low thermal expansion.

By Application,
Powertrain
Bearing
Gear
Tool Grinding
Turbine
Other Applications

The powertrain segment is expected to hold the largest market share of around 30% owing to the increasing demand for super abrasives in the segment. The tool grinding segment is anticipated to grow at the fastest CAGR during the forecast period.

By Industry,
Construction
Energy (O&G, Mining)
Automotive
Electricals & Electronics
Medical Devices
Aerospace
Metal Fabrication
Other Applications

The electrical & electronics segment held the largest market share in 2020, owing to the increasing demand for precision grinding technology for creating smaller as well as complex pieces along with tight tolerances that fit correctly in machine components. The medical devices segment is expected to grow at the fastest CAGR of 7.7%.

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Regional Overview

By region, the global Super Abrasives market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.

The Asia Pacific region accounted for the largest market share of around 45% owing to the increasing demand for super abrasives in emerging economies, such as India and China. Furthermore, precision tooling is a rapidly growing market in India, which is also expected to contribute to market growth.

The North American region is anticipated to witness significant growth due to the presence of major players in the region. Europe and South America are also estimated to grow at considerable growth rates.

The global Super Abrasives market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players

Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets

Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments

Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Super Abrasives market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.

Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Super Abrasives market report answers questions such as:

  • What is the market size and forecast of the Global Super Abrasives Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Super Abrasives Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Super Abrasives Market?
  • What is the competitive strategic window for opportunities in the Global Super Abrasives Market?
  • What are the technology trends and regulatory frameworks in the Global Super Abrasives Market?
  • What is the market share of the leading players in the Global Super Abrasives Market?
  • What modes and strategic moves are considered favorable for entering the Global Super Abrasives Market?

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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