Global Super Abrasives Market Size Estimated To Reach US$ 9,...| MENAFN.COM

Thursday, 07 July 2022 01:20 GMT

Global Super Abrasives Market Size Estimated To Reach US$ 9,767.4 Million By 2027- Exclusive Report By Astute Analytica

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New Delhi, June 07, 2022 (GLOBE NEWSWIRE) -- The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for Global Super Abrasives Market from US$ 6,694.5 Million in 2021 to US$ 9,767.4 Million by 2027. The market is anticipated to grow at a CAGR of 6.5% during the forecast period 2022-2027.

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Super Abrasives are used for the most precision grinding. They are known for their extraordinary hardness, wheel life and exceptional performance. Super Abrasive wheels use diamond and CBN technology to cut demanding materials such as carbide, high speed steel, ceramics, and glass. Hardness, abrasion resistance, compressive strength, thermal conductivity are all features designed to achieve a high level of precision and quality, making them a logical choice for a wide range of applications. Super abrasives are becoming more widely used in a variety of industries, including automotive, medical (dental equipment), aerospace, cutting, non-ferrous metals, stone, ceramic materials, and oil and gas exploration. Construction activity has increased as a result of the rapid growth of urbanization and improved living standards.

Market Analysis

Global Super Abrasives Market is majorly driven by factors such as conventional abrasives substituted by super abrasives and use of diamond in grinding wheels for precision and machining tools. Super abrasives have substituted conventional abrasives as they work at higher speed which adds to their long life. Grinding is required for finishing in traditional machining procedures as well as electrical discharge machining in some production processes. The use and demand for super abrasives such as diamond have increased the market for super abrasives globally. However, factors such as high-performance application and high initial cost is anticipated to negatively hamper the market growth. Also, growing concern about environmental protection, stringent regulations by government and lack of raw material availability inhibit the market growth of super abrasives market.

Key Takeaways from the Global Super Abrasives Market Report

  • In terms of product, the diamond segment is estimated to have the highest share in the global super abrasives market in 2021 owing to increasing demand for cutting and grinding tools as diamonds have chemical inertness, anti-adhesion, a low coefficient of friction, and better wear resistance. Vitrified diamond holds the highest share in the diamond segment in 2021.
  • Based on application, powertrain has the largest share in the super abrasives market in 2021. However, the tool grinding segment is estimated to project the highest CAGR during the forecast period. This is attributed to increasing demand of diamond discs for grinding and polishing powertrains in the automotive industry.
  • Electrical and electronics industry dominates the global super abrasives market in 2021 due to increasing demand for precision grinding technology to manufacture smaller, more complicated bits with precise tolerances that fits properly in machine components.
  • Asia Pacific dominates the global super abrasives market and is further expected to continue its dominance over the forecast period. This is due to the rise in demand for machinery and tools and rise in government initiatives to promote construction activities in the APAC region. Furthermore, the presence of leading vendors in the region is also enhancing the market growth.

Regional Analysis

  • In terms of market revenue, the US holds the major share in the North America super abrasive market during the forecast period because of the region's growing demand from the automotive and construction industries.
  • Western Europe has the fastest CAGR in the European super abrasives market with a CAGR of 6.9% during forecast period owing to rapid growth in the expansion of automotive and machine manufacturing units.
  • China is the highest shareholder in the Asia Pacific Super Abrasives Market. Asia-Pacific region dominated the super abrasives market. The demand for super abrasives in industrial processes is expanding in the region as a result of the growing demand for electronics in nations like China, India and Japan.
  • South Africa is growing at the fastest CAGR in the Middle East and Africa super abrasives market. South Africa is growing at a CAGR of 8.3% during the forecast period 2022-2027, the growth in this region is mainly attributed to increasing investments in non-oil business and rising number of infrastructure companies in the region.

Competitive Landscape

Global Super Abrasives Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the global market include 3M, Action SuperAbrasive, Asahi Diamond Industrial Co. Ltd., Carborundum Universal Ltd., Diametal AG, Element Six (UK) Limited, Finzler, Schrock & Kimmel GmbH and Henan Huanghe Whirlwind Co., Ltd.

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Report Attribute Details
Market Size Value in 2021 US$ 6,694.5 Million
Market Outlook for 2027 US$ 9,767.4 Million
Expected CAGR Growth 6.5%
Base Year 2021
Forecast Period 2022-2027
Top Market Players 3M, Action SuperAbrasive, Asahi Diamond Industrial Co. Ltd., Carborundum Universal Ltd., Diametal AG, Element Six (UK) Limited, Finzler, Schrock & Kimmel GmbH and Henan Huanghe Whirlwind Co., Ltd. among others.
Segments Covered By Product, By Application, By Industry, By Region
Geographies Covered North America, Europe, Asia Pacific, South America, Middle East and Africa
Customization Options Get your customized report as per your preference. Ask for customization

Segmentation Overview

Global Super Abrasives Market is segmented based on product, application, industry and region. The industry trends in global marketplace are sub-divided into different categories in order to get a holistic view of the global super abrasives market.

Following are the different segments of the Global Super Abrasives Market:

By Product Segment of the Global Super Abrasives Market is Sub- Segmented into:

  • Cubic boron nitride (CBN)
    • Vitrified CBN
    • Electroplated CBN
    • Resin Bond CBN
    • Metal CBN
  • Diamond
    • Vitrified Diamond
    • Electroplated Diamond
    • Resin Bond Diamond
    • Metal Diamond

By Application Segment of the Global Super Abrasives Market is Sub- Segmented into:

  • Powertrain
  • Bearing
  • Gear
  • Tool Grinding
  • Turbine
  • Other Applications

By Industry Segment of the Global Super Abrasives Market is Sub- Segmented into:

  • Construction
  • Energy (O&G, Mining)
  • Automotive
  • Electricals & Electronics
  • Medical Devices
  • Aerospace
  • Metal Fabrication
  • Others

By Region Segment of the Global Super Abrasives Market is Sub- Segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Argentina
    • Brazil
    • Rest of South America

To gain more insights into the market with a detailed table of content and figures, click here:

About Astute Analytica 
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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