Asia Pacific to Dominate Global Super Abrasives Market During Forecast Period
Growing demand for super
abrasives from electronics and automotive industry to drive the growth of
global super abrasives market during the forecast period
According to
TechSci Research report, “Global Super
Abrasives Market By Product, By Application, By Region, Competition,
Forecast & Opportunities, 2025”, global super abrasives market is expected to grow at
a CAGR of close to 6% over the forecast period. Super abrasive materials are
used for coating several tools, like grinding wheels in order to enhance their
grinding output, which is driving the market growth. Moreover, rapid automotive
industrial growth, which is a key end-user of super abrasives, is also
anticipated to positively influence the growth of global super abrasives market
through 2025. Furthermore, manufacturing processes like machining centers and automated
systems are widely using the product owing to requirement of high operating
speeds for machining process. Therefore, due to the increasing implementation
of these manufacturing technologies, the global super abrasives market is
forecast to rev up over the coming years.
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Global super
abrasives market can be segmented based on product, application and region.
Considering the product, the market is fragmented into cubic boron nitride,
polycrystalline, CVD diamonds and nano
diamonds. Out of which, CVD diamonds segment is estimated to be the largest
segment by registering a CAGR of over 6% during the forecast period, which can
be attributed to growing demand for diamonds as cutting and grinding tools. In
addition to this, numerous characteristics exhibited by diamonds such as anti-adhesion,
better wear resistance, chemical inertness and low coefficient of friction,
which is anticipated to positively influence the segment growth over the coming
years. Furthermore, manufacturers of super abrasives prefer synthetic diamonds
over natural diamonds due to their high efficiency. Thus, increase in demand
for synthetic diamonds is anticipated in giving healthy push to market growth until
2025.
Protech Diamond
Tools Inc., Radiac Abrasives, Inc, American Superabrasives Corp, Noritake Co.
Limited, Asahi Diamond Industrial Co., Ltd, 3M Company, Saint-Gobain Abrasives
Inc, Carborundum Universal Ltd, Guangdong Chanway Industrial Co. Ltd, Action
SuperAbrasive among others are the leading players operating in global super
abrasives market.
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“Asia-Pacific
dominated the market until 2019 and is forecast to hold its dominance over the
next 5 years as well on the account of increasing construction work and
infrastructural activities, rise in disposable income as well as purchasing
power of consumers across the developing economies such as China and India. Additionally,
surging growth of key end-user industries, like building, automotive, etc.
coupled with growing emphasis on manufacturing sector, is further forecasted to
boost the growth of global super abrasives market through 2025”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Super Abrasives Market By Product, By Application,
By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global super
abrasives market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global super abrasives
market.
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