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Superhard Materials Market By Type (Diamond and Cubic Boron Nitride), By Form (Monocrystalline, Polycrystalline, and Composite), and by Region (North America, Asia-Pacific, Europe, and Rest of The World)‚ÄĒForecast Till 2030

ID: MRFR/CnM/5458-HCR | 100 Pages | Author: Priya Nagrale| July 2024

Global Superhard Materials Market Research (MRFR Insights)

The superhard materials market is anticipated to reach approximately USD 4.5 billion by 2030, at a CAGR of 5.5% from 2022 to 2030. These materials have Vickers hardnesses of more than 40 gigapascals (GPa). They can mold or scratch any material or object due to their exceptional mechanical performance, wear resistance, toughness, and incompressibility. The superhard materials market size is expected to reach approximately USD 4.5 billion by 2030. the product is suited for industrial activities such as cutting, drilling, grinding, turning, and a protective coating. The product is used in various end-user sectors, including automotive, building and construction, chemical, and petrochemical.

COVID-19 Impact Analysis

COVID-19 has negatively influenced all industries ly, including the market business. The pandemic has had differing degrees of influence on various segments of the superhard materials market. This has compelled every market player to make the necessary changes to remain in the market. The report provides in-depth insights into the pandemic's consequences as well as ideas for future preparedness. It also forecasts the Superhard Materials market's growth and recovery.

Superhard Materials Market Dynamics

Rising demand for superhard materials in manufacturing industries for cutting, drilling, boring, and grinding applications will likely fuel market revenue growth over the forecast period. Another important reason projected to contribute to market revenue growth is the increasing application of these materials in various end-use sectors such as automotive, construction, transportation, chemical, electronics, and so on.

Moreover, the superhard materials business will gain significant impetus as the manufacturing sector grows. The World Bank estimates that China's manufacturing sector GDP increased from 28.81% in 2016 to 29.34% in 2017. Similarly, the manufacturing sector's GDP in the United Kingdom increased from 9.01% in 2016 to 9.2% in 2017. Furthermore, government initiatives in developing economies such as India, such as the Make in India program, Digital India, and Foreign Direct Investment, would position the country as the world's fifth-largest manufacturing organization by the end of 2020. In the foreseeable future, these reasons will drive the industry.

Market Drivers

  • Rising Super-Hard Material Applications in the Building and Construction Sector to Drive Market Growth

The market is driven by the increasing use of superhard materials in the building and construction industries. This is due to the tremendous strength and wears resistance of the materials used to stabilize the structure, which keeps it safe from earthquakes, tsunamis, and other natural disasters. The use of superhard materials in residential and commercial constructions is expected to enhance market growth during the forecast period. For instance, in 2013, the superhard material and products industry's growth was delayed by insufficient demand from downstream petroleum, construction, and metal-cutting machine tool, as well as the weak economy, and many companies faced high operating costs as a result. In light of this, SF Diamond Co., Ltd, BOSUN Tools Co., Ltd, Henan Huanghe Whirlwind Co., Ltd, and other enterprises took various steps to expand their present production capacity and extend their industrial chain to improve their operational capabilities.

Market Restraints:

  • Raw material price volatility is a severe constraint that could stymie worldwide market revenue growth

These materials are manufactured at high temperatures and pressures, necessitating costly equipment and a high manufacturing cost. This will be a hindrance to the market shortly. Furthermore, a diamond's great affinity for ferrous materials and low oxidation resistance will limit its employment in machining ferrous materials.

Market Opportunities

  • Increasing demand for materials in the stone and construction market

This substance is mostly employed in the stone and building industries. This material contributes to increased impact resistance by incorporating a high abrasion-resistant layer on its surface, reducing tool wear and tear during the cutting process. It also has good heat resistance and thermal conductivity, resulting in better control over energy use while machining. Furthermore, it ensures smooth finishing surfaces with no cracks or chips after use, saving industrial enterprises time and money.

Superhard Materials Market Segmentation

Type Insights

The superhard materials market segmentation, based on type, is diamond and cubic boron nitride. The superhard materials market growth was prominently high under the diamond category in 2021 and is also anticipated to rose at the highest CAGR. Diamond is used in various industries, including jewelry, cutting materials, cosmetics such as diamond powder to eliminate wrinkles, and audio equipment. The new CVD technology will have a substantial impact on the expansion of the diamond industry. Because of its numerous industrial applications, cubic boron nitride will likewise rise in price. Because of their hardness and strength, they are widely utilized in cutting tools and abrasives.

Form Insights

The superhard materials market segmentation, based on form, is Monocrystalline, Polycrystalline, and Composite. In 2021, The monocrystalline category accounted for the greatest revenue share among form segments, and it is also expected to develop at the fastest CAGR during the forecast period. Due to their superior super abrasive qualities and strength, monocrystalline materials such as diamond and cubic boron nitride are increasingly used in numerous applications such as coatings, cutting tools, abrasives, and so on. Furthermore, the growing use of superhard composites in producing stealth aircraft and automotive body parts will drive the market shortly.

Global Superhard Materials Market Share, by Region, 2021 (%)Superhard Materials Market Share

Superhard Materials Market Overview, by Region

By region, the superhard materials market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Europe will exhibit the highest CAGR during the forecast period.


Over the forecast period, the Asia-Pacific market is expected to grow at the highest CAGR rate in terms of revenue. Some important drivers driving market revenue growth in the Asia-Pacific are economic expansion, an increase in the number of manufacturing businesses, and rising demand for these materials in building activities, cars and transportation, and the oil and gas industry.

North America

During the projected period, the North American market is expected to account for the largest revenue share. Growing manufacturing industries, industrialization, and rising demand for these materials like synthetic diamond and cubic boron nitride (CBN) in various industries are some of the primary drivers driving revenue growth in the North American market. Market participants in North America are concentrating on designing, developing, and manufacturing superhard materials.

Superhard Materials Market Competitive Landscape

The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have  reach with diverse product portfolios. Companies such Element Six (Luxembourg), Iljin Diamond (South Korea), Sandvik AB (Sweden), SF Diamond Co Ltd (China), Henan Huanghe Whirlwind Co Ltd (China), Funik Ultrahard Material Co. Ltd (China), Henan Yalong Superhard Materials Co. Ltd (Japan), among others, dominate the market due to product differentiation, strategic developments, financial stability, and diversified regional presence. Superhard materials manufacturing firms are focusing on developing new and inventive methods to make facility assets and services relevant and necessary for improving customer experience, business administration, occupational physiology, and supporting their core business. Property management services are tailored to property owners' short and long-term financial goals. Service and solution providers develop strategic property operations plan for their customers based on a zero-based operating budget and capital plan. To expand their market footprint and acquire more clients, these market players are investing in R&D and engaging in marketing strategies such as partnerships & collaborations, mergers & acquisitions, product launches, and developments.

List of the Major Companies Operating in the Superhard materials market are

Element Six (Luxembourg), Iljin Diamond (South Korea), Sandvik AB (Sweden), SF Diamond Co Ltd (China), Henan Huanghe Whirlwind Co Ltd (China), Henan Yalong Superhard Materials Co. Ltd (Japan), Funik Ultrahard Material Co. Ltd (China), Sumitomo Electric Industries Ltd (Japan), CR GEMS Superabrasives Co. Ltd (China), WorldWide Superabrasives LLC (China), Anhui Hongjing New Materials Co. Ltd (China), and others.

Scope of the Superhard Materials Market Report

Type Outlook

  • Diamond

  • Cubic Boron Nitride

Form Outlook

  • Monocrystalline

  • Polycrystalline

  • Composite

Region Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia and New Zealand

    • Rest of Asia-Pacific

  • Rest of the World

    • South America

    • Middle East

    • Africa

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

Superhard Materials Market Forecast & Size:

To identify and estimate the market size for the  superhard materials market report segmented by type and form by value (in US dollars). Also, to understand the consumption/ demand created by consumers of the  superhard materials market forecast between 2022 and 2030.

Market Landscape and Trends:

To identify the  superhard materials market growth and infer the drivers, restraints, opportunities, and challenges.

Market Influencing Factors:

To find out the factors which are affecting the  superhard materials market size

Impact of COVID-19:

To identify and understand the various factors involved in the market affected by the pandemic

Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Producers

  • Raw material suppliers

  • Retailers, wholesalers, and distributors

  • Governments, associations, and industrial bodies

Report Attribute/Metric Details
  Market Size   2030: USD 4.5 billion
  CAGR   5.5% CAGR (2022-2030)
  Base Year   2023
  Forecast Period   2024-2032
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Form
  Geographies Covered   North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
  Key Vendors   Element Six (Luxembourg), Iljin Diamond (South Korea), Sandvik AB (Sweden), SF Diamond Co Ltd (China), Henan Huanghe Whirlwind Co Ltd (China), Henan Yalong Superhard Materials Co. Ltd (Japan), Funik Ultrahard Material Co. Ltd (China), Sumitomo Electric Industries Ltd (Japan), CR GEMS Superabrasives Co. Ltd (China), WorldWide Superabrasives LLC (China), Anhui Hongjing New Materials Co. Ltd (China)
  Key Market Opportunities   Increasing demand for superhard materials in the stone and construction market
  Key Market Drivers   Rising Super-Hard Material Applications in the Building and Construction Sector to Drive Market Growth

Frequently Asked Questions (FAQ) :

High operating costs and high temperatures can prevent the superhard materials market growth.

The superhard materials market forecast period is 2024-2032

The market is expected to register a CAGR of ~5.5% over the next 10 years, according to the superhard materials market research.

Asia-Pacific is expected to register the highest CAGR during 2024-2032

North America held the largest share in 2023

The market size is expected to be USD 4.5 billion by 2030.

Element Six (Luxembourg), Iljin Diamond (South Korea), Sandvik AB (Sweden), SF Diamond Co Ltd (China), Henan Huanghe Whirlwind Co Ltd (China), Henan Yalong Superhard Materials Co. Ltd (Japan), and Funik Ultrahard Material Co. Ltd (China) are the major companies operating in the market.

Superhard Materials Market

The superhard materials market size is projected to grow by 5.5% in the forecast period.

By Type Diamond Cubic Boron Nitride
By Form Monocrystalline Polycrystalline Composite
Key Players
Companies Profiled   Element Six (Luxembourg)   Sandvik AB (Sweden)   Iljin Diamond (South Korea)   Henan Huanghe Whirlwind Co Ltd (China)   Sumitomo Electric Industries Ltd (Japan)   Funik Ultrahard Material Co. Ltd (China)   SF Diamond Co Ltd (China)   WorldWide Superabrasives LLC (China)   Henan Yalong Superhard Materials Co. Ltd (Japan)   CR GEMS Superabrasives Co. Ltd (China)   and Anhui Hongjing New Materials Co. Ltd (China)
Market Driving Forces   Growing manufacturing activities across industrial sector is also projected to drive the product market due to the rising use of superhard materials.
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