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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.
The super abrasives market is shaped by various factors that collectively influence its dynamics. One primary driver is the growing demand across industries for precision grinding tools that offer exceptional hardness and durability. Super abrasives, such as diamond and cubic boron nitride (CBN), are extensively used in manufacturing processes for cutting, grinding, and polishing applications in sectors like automotive, aerospace, and electronics. The unique properties of super abrasives, including high hardness and thermal stability, contribute significantly to their adoption, impacting the overall super abrasives market.
Technological advancements and innovations in super abrasives play a pivotal role in driving market growth. Continuous research and development efforts focus on enhancing the performance and efficiency of super abrasive tools, exploring new applications, and developing cost-effective manufacturing methods. Innovations in bond systems, abrasive particle designs, and manufacturing techniques contribute to the development of high-performance super abrasives that meet the evolving needs of different industries. Manufacturers strive to offer solutions that enhance precision and productivity in various machining processes.
The global economic landscape significantly influences the super abrasives market. Economic growth often leads to increased manufacturing activities, driving the demand for high-precision tools like super abrasives. Conversely, economic downturns may impact certain industries, affecting the demand for super abrasives. The market's sensitivity to economic fluctuations underscores the importance of monitoring global economic trends for stakeholders in the super abrasives industry.
Regulatory considerations and standards also play a crucial role in shaping the super abrasives market. Due to their use in critical manufacturing processes, super abrasives are subject to regulations concerning workplace safety, environmental impact, and compliance with industry standards. Meeting these regulatory requirements is essential for super abrasives manufacturers to ensure market acceptance and meet the expectations of consumers and regulatory authorities.
Raw material availability and pricing are critical considerations in the super abrasives market. The primary raw materials for super abrasives, such as diamond and CBN, are sourced from natural or synthetic origins. Fluctuations in the prices and availability of these raw materials can impact the overall production cost of super abrasives. Manufacturers closely monitor raw material markets to adjust their strategies and maintain cost-effectiveness in the competitive market.
Geographical factors also play a role in shaping the super abrasives market. Different regions may have varying levels of industrialization, manufacturing activities, and infrastructure development, influencing the demand for super abrasives. Areas with a strong presence in precision machining and advanced manufacturing may experience higher demand for super abrasives products.
Environmental considerations are increasingly influencing the super abrasives market. As industries strive to adopt more sustainable practices, there is a growing focus on developing eco-friendly super abrasives and sustainable manufacturing processes. Manufacturers are exploring ways to enhance the environmental profile of super abrasives, including the use of recycled materials, responsible sourcing, and reducing the environmental impact of production.
Health and safety considerations also play a role in the super abrasives market, particularly concerning workplace exposure to abrasive particles during manufacturing processes. Occupational safety standards and regulations impact production practices and worker safety in industries utilizing super abrasives. Compliance with these health and safety standards is essential for super abrasives manufacturers to ensure a safe working environment and meet regulatory requirements.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 6.78% 2030 |
Super Abrasives Market Highlights:
Super Abrasives Market OverviewÂ
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 (%)
 
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 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 AnalysisÂ
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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