|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
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The super abrasives market is expected to witness significant growth, at an estimated CAGR of more than 9% over the forecast period (2022-2027).
The major factors driving the market are CNC machines replacing old technologies and conventional abrasives substituted by super abrasives.
- The Covid pandemic has largely impacted the abrasives negatively, with the decrease in the demand from end-user industries such as automotive, oil and gas, aerospace and electronics. 2021 has been estimated to have helped in the growth of superabrasives but has not yet reached the pre pandemic levels.
- Based on the end-user industry, the electronics segment dominated the market, followed by automotive and aerospace.
- Asia-Pacific dominated the market, holding a share of almost 50%. This is primarily due to the rising demand from the electronics and automotive industries.
- The diamond segment dominated the market, holding a share of almost 70%.
Scope of the Report
The consumption of super abrasives, along with the tool components (such as an abrasive disc), is taken into account for the calculation of the global demand for super abrasives. The scope of the report includes Material Type, Application, End-user Industry, and Geography. By Material Types the market is segmented by Diamond and Cubic Boron Nitride, by application, the study includes Powertrain, Bearing, Gear, Tool Grinding, Turbine, and Other Applications, in terms of End-user Industry, the market is segmented into Aerospace, Automotive, Medical, Electronics, Oil and Gas, and Other End-user Industries, and finally, the segmentation in Geography includes Asia-Pacific, North America, Europe, and Rest of the World. The report offers market size and forecasts for super abrasives in terms of revenue (USD million) for all the above segments.
|Oil and Gas|
|Other End-user Industries|
Key Market Trends
Electronics Industry to Dominate the Market
- Super abrasives find various applications in the electronics industry. This is because of the type of materials that the super abrasive tools are capable of processing. The tools can be used to process semiconductor materials, ceramics, carbide alloys, copper and copper alloys, aluminum, resin, and rubber, all of which are majorly used in electronic component manufacturing.
- Super abrasive grinding tools are largely used for the creation of PCBs in the electronics industry. Printed Circuit Boards (PCBs) are the key elements for many electronic devices, like desktop computers and home theater systems, among others
- Super abrasives in the electronics industry provide consistent slicing performance, uniform diamond counts, uniform wire diameter, even diamond distribution, and no diamond clustering.
- Asia-Pacific and European regions are expected to be the key driving regions for the consumption of super abrasives during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the super abrasives market. Owing to the demand for electronics in countries, such as China, India, and Japan, the demand for super abrasives in the manufacturing processes is also increasing in the region.
- China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, and cables, recorded the highest growth in the electronics segment. The country not only serves the domestic demand for electronics but also exports electronic output to other countries.
- In India, the consumer durables, like electronics appliances, have witnessed a tremendous increase in production and sales, owing to the growing middle-class income, rapid urbanization, and change in lifestyle of the working class. Government initiatives have supported the expansion of consumer electronics products.
- Many global manufacturers have expanded their production facilities in the ASEAN region following the supply chain bottle neck during the pandemic in China, and many manufacturing projects are underway in the next 10 years.
- Such aforementioned factors, in turn, are expected to boost the market studied during the forecast period.
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The super abrasives market is fragmented in nature, with top four players accounting for about 40% of the market. These include (in no particular order) Asahi Diamond Industrial Co. Ltd, Saint-Gobain Abrasives Inc., 3M, and Noritake Co. Limited, among others.
No new recent developments are available pertaining to the market.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 CNC Machines Replacing Old Technologies
4.1.2 Conventional Abrasives Substituted by Super Abrasives
4.2.1 High Initial Investment due to High Cost of Abrasives
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Material Type
22.214.171.124 Vitrified Diamond
126.96.36.199 Electroplated Diamond
188.8.131.52 Resin Bond Diamond
184.108.40.206 Metal Diamond
5.1.2 Cubic Boron Nitride (CBN)
220.127.116.11 Vitrified CBN
18.104.22.168 Electroplated CBN
22.214.171.124 Resin Bond CBN
126.96.36.199 Metal CBN
5.2.4 Tool Grinding
5.2.6 Other Applications
5.3 End-user Industry
5.3.5 Oil and Gas
5.3.6 Other End-user Industries
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.2 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 NORDIC Countries
188.8.131.52 Rest of Europe
5.4.4 Rest of the World
184.108.40.206 Middle East and Africa
220.127.116.11 South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Asahi Diamond Industrial Co. Ltd
6.4.3 Carborundum Universal Ltd
6.4.5 Gunter Effgen GmbH
6.4.6 Heger GmbH Excellent Diamond Tools
6.4.7 Husqvarna AB
6.4.8 Hyperion Materials & Technologies
6.4.9 KURE GRINDING WHEEL
6.4.10 Mirka Ltd
6.4.12 Saint-Gobain Abrasives (Saint Gobain)
6.4.13 SlipNaxos Chile SA
6.4.15 Zhengzhou Hongtuo Superabrasive Products Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emerging Technologies Easing Production and Use of Super Abrasives
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Frequently Asked Questions
What is the study period of this market?
The Super Abrasives Market market is studied from 2017 - 2027.
What is the growth rate of Super Abrasives Market?
The Super Abrasives Market is growing at a CAGR of >9.25% over the next 5 years.
Which region has highest growth rate in Super Abrasives Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Super Abrasives Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Super Abrasives Market?
Asahi Diamond Industrial Co. Ltd, Saint-Gobain Abrasives, 3M, Noritake, TYROLIT are the major companies operating in Super Abrasives Market.