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The market trends of super abrasives reveal a dynamic landscape driven by advancements in manufacturing, technological innovations, and the growing demand for precision machining in various industries. One significant trend is the increasing adoption of super abrasives, including diamond and cubic boron nitride (CBN), in the manufacturing of cutting tools and grinding wheels. Super abrasives offer exceptional hardness and wear resistance, making them indispensable for applications requiring high precision, such as aerospace components, automotive parts, and medical devices. This trend is particularly pronounced in the aerospace industry, where the demand for advanced materials and intricate machining processes has fueled the use of super abrasives for cutting, grinding, and shaping critical components.
The automotive industry is another key player shaping market trends in super abrasives. As the automotive sector evolves with the integration of lightweight materials, electric vehicles, and advanced engine technologies, the demand for precise and efficient machining solutions is on the rise. Super abrasives play a vital role in manufacturing components like crankshafts, camshafts, and transmission parts, contributing to improved performance, durability, and fuel efficiency. The trend towards electric vehicles, with their specialized components and materials, further emphasizes the importance of super abrasives in the automotive manufacturing process.
Additionally, the medical and healthcare industry contributes to the demand for super abrasives in the production of precision medical devices and implants. Super abrasives are employed in shaping and finishing processes for materials like titanium and stainless steel used in orthopedic implants, dental tools, and surgical instruments. The medical sector's focus on high-precision and biocompatible materials aligns with the capabilities offered by super abrasives, driving their increased adoption in this industry.
A noteworthy trend in the super abrasives market is the development of innovative applications and formulations to meet specific industry requirements. Manufacturers are investing in research and development to create super abrasives with enhanced properties, such as improved thermal stability, increased cutting efficiency, and extended tool life. These advancements cater to the evolving needs of industries like electronics, where super abrasives are used for precision grinding in the production of semiconductors, electronic components, and optical devices.
Challenges in the super abrasives market include the cost of production, particularly for synthetic diamonds and CBN, and the need for continuous innovation to address specific industry demands. The market is competitive, with manufacturers striving to develop cost-effective and high-performance super abrasives to stay ahead. Environmental considerations and sustainability are also becoming significant factors, prompting the industry to explore eco-friendly alternatives and recycling methods for super abrasive materials.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | rising modernization in the automotive industry |
Super Abrasives Market Highlights:
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 (%)
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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