Super Abrasives Market Research Report – Forecast to 2030

Super Abrasives Market Information: Product Type (Vitrified Diamond, Vitrified CBN, Resin Bond Diamond, Resin Bond CBN, Metal/ Hybrid Bond CBN), Application (Cutting Tools, Tool Industry, Machinery, Electronics/ Smartphones), Region – Forecast Till 2030

ID: MRFR/CnM/4502-CR | May 2018 | Region: Global | 100 Pages         

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Super Abrasives Market

The super abrasives market is estimated to have grown at a CAGR of 6.78 percent to USD 14.45 billion during the forecast 2021-2030.

Segmentation
Product Type Vitrified Diamond Vitrified CBN Resin Bond Diamond Resin Bond CBN Metal/ Hybrid Bond CBN
By Application Cutting Tools Tool Industry Machinery Electronics/ Smartphones
Key Players
Companies Profiled   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)
Drivers
Market Driving Forces   Growing adoption of super abrasives over conventional abrasives
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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 2021-2030. 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


Some of the key players 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 2017-2023.


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



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 14.45 billion 2030
  CAGR   6.78% 2030
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   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)
  Key Market Opportunities   rising modernization in the automotive industry
  Key Market Drivers   Growing adoption of super abrasives over conventional abrasives


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Frequently Asked Questions (FAQ) :

Super Abrasives Market is expected to reach a valuation of close to USD 14.45 billion by 2030.

The market is expected to exhibit a strong 6.78% CAGR over the forecast period from 2021 to 2030.

Growing adoption of super abrasives over conventional abrasives is the major driver for the global super abrasives market.

Asia Pacific is the leading regional market for super abrasives.

Leading players in the super abrasives market include Saint Gobain, 3M, and Noritake, among others.