Super Abrasives Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Material Type (Diamond and Cubic Boron Nitride (CBN)), End-user Industry (Aerospace, Automotive, Medical, Electronics, Oil and Gas, and Other End-user Industries), Application (Powertrain, Bearing, Gear, Tool Grinding, Turbine, and Other Applications), and Geography.

Market Snapshot

Market Summary - Super Abrasives Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The super abrasives market is expected to witness significant growth, at an estimated CAGR of 9.23% over the forecast period (2019-2024). The major factors driving the market are CNC machines replacing old technologies and conventional abrasives substituted by super abrasives.

  • Based on the end-user industry, the electronics segment dominated the market, followed by automotive and aerospace.
  • In 2018, 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.
  • In 2018, 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 of super abrasives.

Material Type
Diamond
Vitrified Diamond
Electroplated Diamond
Resin Bond Diamond
Metal Diamond
Cubic Boron Nitride (CBN)
Vitrified CBN
Electroplated CBN
Resin Bond CBN
Metal CBN
End-user Industry
Aerospace
Automotive
Medical
Electronics
Oil and Gas
Other End-user Industries
Application
Powertrain
Bearing
Gear
Tool Grinding
Turbine
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Italy
NORDIC Countries
Rest of Europe
Rest of the World
Brazil
Saudi Arabia
United Arab Emirates
Others

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Key Market Trends

Increasing Demand from the Automotive Industry

  • Owing to the properties, such as extreme hardness and no microcracking, super abrasives are proven to be beneficial in the manufacturing of efficient products for the industry.
  • Super abrasives are the ideal choice for manufacturing several essential automotive components, like powertrains, engines, and steering mechanisms.
  • Super abrasives are used in the finishing of cam/crankshaft grinding, gear shaft grinding, steering components, injection systems, and belts, among others.
  • The demand for powertrains is increasing significantly, and account for the majority of the super abrasives consumption.
  • There have been increasing technological developments in the automotive manufacturing processes, in order to achieve better fuel efficiencies and enhance the life of motor vehicles. The usage of super abrasives for manufacturing automotive components has proven to be useful in increasing the life of wheels, as well as achieving higher G-ratios at the same power.
  • The automotive industry has been growing significantly, for the past few years. In 2017, around 73.46 million cars were produced worldwide. In the past two decades, the automotive industry had perceived a lot of transformation, with the digitization of vehicles and increasing adoption of hybrid and electric vehicles.
  • Owing to the aforementioned factors, the demand for super abrasives used in the automotive sector is expected to increase at a consistent rate, in the near future.
Segmentation - Super Abrasives Market

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Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the super abrasives market in 2018. 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.
  • In India, the consumer durables, like electronics appliances, have witnessed a tremendous increase in the 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 production.
  • Many global manufacturers have expanded their production facilities in the country, and many manufacturing projects are underway in the next 10 years.
  • According to the India Brand Equity Foundation (IBEF), the Indian electronics market is expected to witness a CAGR of 41%, between 2017 and 2020, to reach a value of USD 400 billion. Such demand and viable opportunities for production, in the consumer electronics segment in India, are expected to provide a wide array of opportunities for the consumption of super abrasives in the coming years.
  • All the aforementioned factors, in turn, are expected to boost the market studied during the forecast period.
Regional - Super Abrasives Market

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Competitive Landscape

The super abrasives market is fragmented in nature, with top four players accounting for about 40% of the market. These include Asahi Diamond Industrial Co. Ltd, Saint-Gobain Abrasives Inc., 3M Company, and Noritake Co. Limited.

Major Players

  1. Asahi Diamond Industrial Co. Ltd
  2. Saint-Gobain Abrasives
  3. 3M
  4. Noritake

* Complete list of players covered available in the table of contents below

Market Concentration - Super Abrasives Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 CNC Machines Replacing Old Technologies

      2. 4.1.2 Conventional Abrasives Substituted by Super Abrasives

      3. 4.1.3 Increasing Use in the Automobile Sector

    2. 4.2 Restraints

      1. 4.2.1 High Initial Investment due to High Cost of Abrasives

      2. 4.2.2 Advanced Technological Requirements

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Material Type

      1. 5.1.1 Diamond

        1. 5.1.1.1 Vitrified Diamond

        2. 5.1.1.2 Electroplated Diamond

        3. 5.1.1.3 Resin Bond Diamond

        4. 5.1.1.4 Metal Diamond

      2. 5.1.2 Cubic Boron Nitride (CBN)

        1. 5.1.2.1 Vitrified CBN

        2. 5.1.2.2 Electroplated CBN

        3. 5.1.2.3 Resin Bond CBN

        4. 5.1.2.4 Metal CBN

    2. 5.2 End-user Industry

      1. 5.2.1 Aerospace

      2. 5.2.2 Automotive

      3. 5.2.3 Medical

      4. 5.2.4 Electronics

      5. 5.2.5 Oil and Gas

      6. 5.2.6 Other End-user Industries

    3. 5.3 Application

      1. 5.3.1 Powertrain

      2. 5.3.2 Bearing

      3. 5.3.3 Gear

      4. 5.3.4 Tool Grinding

      5. 5.3.5 Turbine

      6. 5.3.6 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

        4. 5.4.2.4 Rest of North America

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 NORDIC Countries

        6. 5.4.3.6 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Saudi Arabia

        3. 5.4.4.3 United Arab Emirates

        4. 5.4.4.4 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M Company

      2. 6.4.2 Action SuperAbrasive

      3. 6.4.3 Asahi Diamond Industrial Co. Ltd

      4. 6.4.4 Carborundum Universal Ltd

      5. 6.4.5 Guangdong Chanway Industrial Co. Ltd

      6. 6.4.6 Diamant Gesellschaft Tesch GmbH

      7. 6.4.7 Diametal AG

      8. 6.4.8 Dr.Kaiser

      9. 6.4.9 Eagles Superabrasives

      10. 6.4.10 Gunter Effgen GmbH

      11. 6.4.11 Ehwa Diamond Industrial Co. Ltd

      12. 6.4.12 Zhuhai Elephant Abrasives Co. Ltd

      13. 6.4.13 Finzler, Schrock & Kimmel GmbH

      14. 6.4.14 Heger GmbH Excellent Diamond Tools

      15. 6.4.15 Zhengzhou Hongtuo Superabrasive Products Co. Ltd

      16. 6.4.16 Husqvarna AB

      17. 6.4.17 Klingspor

      18. 6.4.18 Krebs & RiedelSchleifscheibenfabrik GmbH & Co.

      19. 6.4.19 KURE GRINDING WHEEL

      20. 6.4.20 Mirka Ltd

      21. 6.4.21 Noritake

      22. 6.4.22 Saint-Gobain Abrasives (Saint Gobain) 9.23 Sak Industries Private Limited

      23. 6.4.23 Hyperion Materials & Technologies

      24. 6.4.24 Shanghai Z&Y Industrial Diamond Co. Ltd

      25. 6.4.25 Sia Abrasives Industries AG

      26. 6.4.26 SlipNaxos Chile SA

      27. 6.4.27 Jiangsu Subei Grinding Wheel Factory Co. Ltd

      28. 6.4.28 Super Abrasives Inc.

      29. 6.4.29 Zische Schleifwerzeuge GmbH

      30. 6.4.30 Toyoda Van Moppes Ltd

      31. 6.4.31 Tyrolit

      32. 6.4.32 VSM AG

      33. 6.4.33 White Dove Company Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Expertise in Developing New Technology

    2. 7.2 Miniaturization of Super Abrasives to Nano Scale: Usage in Medical and Electronic Components

    3. 7.3 Growing Research for Cost Reduction

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