The global Super Abrasives Market is forecast to reach USD 11.48 Billion by 2027, according to a new report by Reports and Data. The market is seeing an expanded interest for precision and machining tools for the production of motor vehicles and construction activities. In the construction industry, the product is used to manufacture drilling, sawing, and cutting tools to machine concrete, bricks, and stones. However, increasing complexity of super abrasive technology in high-performance applications and high initial costs make it difficult for small-scale and medium-scale companies to compete with the global market leaders and hence, will be hampering the demand of the market.
Rapid urbanization has changed the way of life of individuals and, thus, has expanded the pervasiveness of the construction sector for commercial purposes over a broad aspect; therefore, augmenting the demand for the market product. For ensuring smooth finishing of parts, the product is used as a grinding tool in the manufacturing of automobile parts such as steering mechanism, gear shaft, injection systems, and cam/crankshaft. Increasing motor and electric vehicle production anticipated boosting the market demand for the product in the coming years. The diamond segment is expected to grow significantly, owing to the increasing demand for precision tooling from the automotive and aerospace industries.
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Key participants include Radiac Abrasives Inc., Noritake Co. Ltd., Protech Diamond Tools Inc., Asahi Diamond Industrial Co. Ltd., 3M, American Superabrasives Corp., Saint-Gobain Abrasives Inc., Carborundum Universal Ltd., Eagle Superabrasives, and Action Superabrasive, among others.
Further key findings from the report suggest
- Based on product, Diamond accounted for the largest share of the market in 2019, owing to properties such as anti-adhesion, chemical inertness, low friction coefficient, and better wear resistance.
- Electronics Industry accounted for the largest share in the market, holding around 46.0% of the overall business in 2019, as it produces smaller and complicated parts with close tolerances that match correctly in machine components, thereby making it suitable for a variety of applications typically PCBs.
- The Asia Pacific dominated the market in 2019. The consistent focus on cost-effective and innovative procedures adopted in the area is driving the market. The Asia Pacific region holds approximately 61.0% of the Super Abrasives Market, followed by North America, which contains around 18.0% market in the year 2019.
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For the purpose of this report, Reports and Data have segmented into the global Super Abrasives Market on the basis of product, end-user, application, and region:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Cubic Boron Nitride
- Diamond
- Others
End-User Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Aerospace
- Automotive
- Medical
- Electronics
- Oil & Gas
- Others
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Powertrain
- Bearing
- Gear
- Tool Grinding
- Turbine
- Others
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Regional Bifurcation of the Super Abrasives Market Includes:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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