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Super Abrasives Market Share

ID: MRFR//4502-CR | 100 Pages | Author: Priya Nagrale| May 2018

In the highly competitive Super Abrasives market, strategic positioning is essential for companies to thrive in the abrasives and manufacturing industry. Super Abrasives, advanced materials known for their exceptional hardness and durability, demand thoughtful approaches to secure a significant market share and gain a competitive edge.

A foundational strategy in the Super Abrasives market is product differentiation. Companies focus on creating unique formulations or specialized applications of Super Abrasives. By offering distinct features such as enhanced abrasive particle characteristics, improved cutting efficiency, or specific formulations for different machining processes, businesses can carve out a niche for themselves. This not only attracts customers with specific precision machining needs but also establishes a recognizable brand identity, setting them apart from competitors.

Pricing strategies play a pivotal role in market share positioning within the Super Abrasives market. Some companies adopt a cost leadership approach, aiming to provide Super Abrasives at competitive prices without compromising on quality. This strategy appeals to industries with cost-conscious considerations and helps gain traction in segments where pricing is a critical factor. On the other hand, premium pricing positions Super Abrasives as high-quality, high-performance materials, targeting industries willing to invest more for superior cutting performance and extended tool life.

Strategic collaborations and partnerships are another key element in market share positioning. Companies often form alliances with machinery manufacturers, end-users, or research institutions to strengthen their Super Abrasives portfolio. These collaborations can lead to innovations, improved manufacturing processes, or access to new markets. By pooling resources and expertise, businesses can enhance their competitive position and offer comprehensive solutions tailored to the specific needs of their partners.

Geographical expansion is pivotal for market share positioning in the Super Abrasives market. This may involve entering new markets or consolidating efforts in existing ones to broaden the customer base. Understanding regional manufacturing preferences, adapting products to meet local machining standards, and navigating diverse regulatory landscapes are essential components of successful geographical expansion strategies.

Innovation is a driving force in the Super Abrasives market, and companies that invest in research and development gain a significant advantage. Continuous improvement in Super Abrasives formulations, the introduction of novel cutting applications, and the development of environmentally friendly options contribute to staying competitive. Innovation aligned with evolving industry trends, such as precision grinding for aerospace components or advancements in electronic device manufacturing, is crucial for maintaining a leadership position.

Effective marketing and communication strategies are indispensable for market share positioning in the Super Abrasives market. Companies must articulate the value proposition of their Super Abrasives products clearly, emphasizing the benefits in terms of cutting efficiency, tool life extension, and superior surface finishes. Leveraging various communication channels, including digital marketing, participation in manufacturing industry events, and collaborations with industry influencers, allows businesses to reach a wider audience and create brand awareness.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation   2021
Historical Data 2019 & 2020
Forecast Period   2021-2030
Growth Rate   6.78% 2030

Super Abrasives Market Overview 


The super abrasives market is estimated to have grown at a CAGR of 6.78 percent to USD 14.45 billion during the forecast 2024-2032. 


Super abrasives have various applications in the electronics industry. This is because of the type of materials that the super abrasive tools can process. The devices are used to process ceramics, copper and copper alloys, aluminum, resin, semiconductor materials, carbide alloys, and rubber, usually used in electronic component manufacturing. Super abrasive grinding tools are largely used to create PCBs in the electronics industry. Printed Circuit Boards (PCBs) are the critical elements for many electronic devices, like desktop computers and home theater systems, and various others. The demand for precision and machining tools helps in the increasing demand for the production of motor vehicles and construction activities. The product is used to manufacture drilling, sawing, and cutting tools to machine concrete, bricks, and stones in the construction industry.  The product is used as a grinding tool in the manufacturing of automotive components. Like steering mechanism, injection systems, gear shaft, and cam/crankshaft to provide smooth parts finishing. Increasing production of motor and electric vehicles is expected to boost the demand for the product in the market over the coming years. Due to this disparity, small and medium-sized businesses have been challenged to compete in the market. Especially for developing items which require new technologies. They also have a longer product life and less machine downtime, which results in the high initial cost and cheap machining expenses,


Global Super Abrasives Market, by Application, 2017 (%)


 Super Abrasives Market


Source: MRFR Analysis


Key Players


List of the key companies operating in the global super abrasives market are


Saint Gobain (France), 3M (U.S.), Carborundum Universal Limited (France), Noritake (Japan), Meister Abrasives (U.S.), KREBA & RIEDEL (Germany), Tyrolit Schleifmittelwerke Swarovski K.G. (Austria), TOYODA VAN MOPPES LTD. (Tokyo), SUPER ABRASIVES (India), Zhengzhou Hongtuo Super Abrasive Products Co., Ltd (China), VSM Abrasives Corporation (Germany), and others.


Regional Analysis


Regionally, the super abrasives market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific emerged as the leading super abrasives market in 2016, which was majorly driven by the increasing demand for durable and efficient automobiles. Asia Pacific region accounted for 58.40% of the overall value share in 2016 and is expected to grow at a healthy CAGR of 7.51% over the forecast period. The increasing production and sales of automotive and consumer goods in China, Japan, and India is the major driver of the regional market.


Europe is the second largest region and was valued at USD 1,006.6 million in 2016 and is projected to grow at a healthy CAGR of 5.39% during the review period 2022-2030.


Segmentation


The super abrasives market is categorized on the basis of product type, application, and region. On the basis of the product type, the market is segmented into vitrified diamond, vitrified CBN, resin bond diamond, resin bond CBN, metal/ hybrid bond CBN, metal/ hybrid bond diamond, electroplated diamond, electroplated CBN, rotary dressers, and stationary dressers.


On the basis of the application, the market is segmented into cutting tools, tool industry, machinery, electronics/ smartphones, bearings, powertrain, turbines, gear, medical, primary metal, and others. Based on the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.


Recent Development


An automotive component manufacturer, namely Detroit Speed, entered into a partnership with Saint-Gobain Abrasives to promote its Norton brand. The move is anticipated to help the former increase its consumer base. A business alliance in Europe and Asia has been formed by Asahi and Tyrolit to expand their product portfolio for electronics, bearings, and gearing industries. This move has allowed Asahi Diamond Group to enhance its bearing & gearing industry portfolio.

Geographic Analysis 


The report covers brief analysis of geographical region such as:



  • North America

    • U.S.

    • Canada



  • Europe

    • Germany

    • U.K

    • Russia

    • France

    • Spain

    • Italy

    • Rest of Europe



  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of Asia Pacific



  • Latin America

    • Brazil

    • Argentina

    • Mexico

    • Rest of Latin America



  • Middle East & Africa

    • Turkey

    • Iran

    • Rest of the Middle East & Africa




Key Findings



  • Global super abrasives market is projected to reach USD 14,681.1 million by the end of the forecast period at a healthy CAGR

  • Vitrified diamond product type accounted for the largest value market share of 16.00% in 2016.

  • Resin Bond Diamond was the second-largest market in 2016, valued at USD 1,325.9 million in 2016; it is projected to grow at a CAGR of 7.11% during the forecast period

  • Asia Pacific is the largest and fastest growing market across the globe, which accounted for 58.40% share of the global market in 2016.

  • Saint Gobain is the leading manufacturer of high performance polyamide


Intended Audience



  • Super abrasives manufacturers

  • Traders and distributors of super abrasives

  • Production process industries

  • Potential investors

  • Raw material suppliers

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