Diamond tools are growing in popularity in advanced machining tools used for grinding, cutting, and polishing. The need for high-precision and durable machining tools in various industries is a key factor propelling the expansion of the diamond tools market. Key applications of diamond tools are in automobiles, electronics, and semiconductor industries. Salient features that make diamond as a popular material for high-precision tools is its extraordinary hardness, such as in Mohs hardness scale, and thermal conductivity landing to ‘heat diffusibility’. Diamonds have thus formed as an excellent material for forming sharp edges. This is a key factor bolstering its application in machining tools used in making components for automobile and aerospace industries.
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Efforts are ongoing to prolong the service life of diamond tools used in super machining applications, such as in precision automotive parts, such as high precision bearings. Strides made in electronics production has also bolstered the adoption of diamond tools. Advances in metal bond technologies are also expanding the scope of applications in the diamond tools market. Further, advances made in powder metallurgy has also opened new avenues in the market. Growing demand for diamond-impregnated tool components has also reinforced avenues in the market.
Diamond tools are growing in popularity in advanced machining tools used for grinding, cutting, and polishing. The need for high-precision and durable machining tools in various industries is a key factor propelling the expansion of the diamond tools market. Key applications of diamond tools are in automobiles, electronics, and semiconductor industries. Salient features that make diamond as a popular material for high-precision tools is its extraordinary hardness, such as in Mohs hardness scale, and thermal conductivity landing to ‘heat diffusibility’. Diamonds have thus formed as an excellent material for forming sharp edges. This is a key factor bolstering its application in machining tools used in making components for automobile and aerospace industries.
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Efforts are ongoing to prolong the service life of diamond tools used in super machining applications, such as in precision automotive parts, such as high precision bearings. Strides made in electronics production has also bolstered the adoption of diamond tools. Advances in metal bond technologies are also expanding the scope of applications in the diamond tools market. Further, advances made in powder metallurgy has also opened new avenues in the market. Growing demand for diamond-impregnated tool components has also reinforced avenues in the market.
Global Diamond Tools Market: Overview
The global diamond tools market is on a growth trajectory between 2019 and 2027. It will not just chart an impressive CAGR (Compound Annual Growth Rate) but also create new opportunities for growth for market players to dabble with. Besides, this growth will help the market accrue a higher worth over the stated period. A number of application in end-use industry is helping the market chart an upward, positive curve.
Global Diamond Tools Market: Notable Development
Certain developments happening in the market place are transforming the landscape. Some of these are outlined below.
- Saint Gobain Abrasives launched CarbonForce, new wheeling techniques. This new thin line of cubic boron nitride wheels to grind outer diameter is an innovative product brought to fore by the prominent player in high performance and highly engineered abrasives. Not only is thus 75% lighter steel integrated wheels but also has superior safety benefits. It is also better in terms of performance. Moreover, it reduces labor cost, dressing frequency and cycle time.
- Launch of SilentMax leads to better performance in blade cutting and has a very long life along with fastest cutting feature. Such innovation is a constant mark in the competitive landscape as product development to have a firm grasp on the market share.
The Diamond Tools Market is fragmented due to presence of a large number of international and regional players. Some of the key names in the diamond tools market are Asahi Diamond Industrial, Bosun, Saint Gobain, Ehwa, Hilti, ICS, Husqvarna AB, Makita, Bosch, Tyrolit, Blount, Hebei XMF Tools, Gangyan Diamond, Disco, Reliable Diamond Tool, Nanjing Sanchao Advanced Materials, Shibuya Company, Metabo Power Tools, Billon Power Diamond Tools Syntec Diamond Tools, OX Group International, MK Diamond Products, Lackmond, among others.
Global Diamond Tools Market: Key trends and driver
The global diamond tools market is on a upward trajectory owing to various trends and drivers.
There is a massive rise in construction activity and the trend is set to continue over the forecast period. As per a study by PwC, construction volumes will rise by 85% in the next ten tears – that is by 2030. Since diamond tools are extensively used for drilling, cutting, polishing, sharpening of metals, glass, polymeric plastic machine and so on, the global diamond tools market is set to see growth. It is also noteworthy here that out of the total growth in the market, more than half (about 57%) will be accounted for by just there countries – the United States, India and China.
- Expansion of healthcare and pharmaceutical industry is also leading to growth in the global diamond tools market. And, this market will see growth owing to a large number of factors like increase in incidence of chronic diseases and rise in geriatric population. By 2050, it is expected that one in every six people in the world will be 65 and above and in certain regions the situation will be more pronounced such as North America and Europe. Here, the ratio will be one in every four. Besides, by 2050, 2 billion people will be 60 and above – a steep rise from 900 million in 2015. Already, in 2018, number of people surpassed number of people aged 5 and below, thereby creating history.
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Global Diamond Tools Market: Regional Analysis
The global diamond tools market is set to see North America as the dominant region owing to high construction activity in the region and expansion of automotive industry. Basis increase in construction volumes, India and China will also drive growth in the global diamond tools market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
