Superabrasive Market Size, Share, Growth, & Trends 2032

Superabrasive Market

Superabrasive Market By Material (Diamond, Cubic Boron Nitride, And Others), By End-User (Electrical & Electronics, Automotive, Oil & Gas, Building & Construction, Aerospace & Defense, And Medical), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024–2032

Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-4664 Published Date: Jun-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 8.21 Billion USD 13.47 Billion 5.65% 2023

Superabrasive Market: Size

The global superabrasive market size was worth around USD 8.21 billion in 2023 and is predicted to grow to around USD 13.47 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.65% between 2024 and 2032.

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The report covers a forecast and an analysis of the superabrasive market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on both volume (Million Carats) and revenue (USD Billion).

Superabrasive Market: Overview

Superabrasive is a material that exhibits superior grinding characteristics with an exceptionally long lifecycle. Superabrasive materials are coated on various tools, such as grinding wheels to improvise their grinding productivity. They are widely popular due to their peculiar characteristics like high scale hardness, entrenched lifecycle, and superlative performance. Superabrasives can be employed in a diverse range of forms, such as powder, coarse particles, grits, or coatings on tool as per operational needs. The superabrasive market includes products, such as tools, wear parts, and workpiece materials, to impart specific shapes to components and to enhance their hardness against grinding during usage. Along with the core function of grinding, superabrasive products are also deployed for drilling, polishing, lapping, and honing the surface of various components.

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The study covers the key drivers and restraints of the global superabrasive market and provides their impact on the market within the forecast period. Furthermore, the study also includes the analysis of opportunities available within the superabrasive market on a global level.

In order to offer the users of this report a comprehensive view of the global superabrasive market, we have included a detailed value chain analysis. To understand the competitive landscape within the market, an analysis of Porter’s Five Forces model for global superabrasive market has additionally been included. The study includes a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study also includes the market share of the key participants operating in the global superabrasive market. Moreover, the report covers the strategic development in the market along with acquisitions & mergers, agreements partnerships, collaborations & joint ventures, and regional growth of key players within the market on a global basis.

Superabrasive Market: Growth Drivers

The key factor driving the superabrasive market globally is the increasing awareness about the high-end technology and its benefits and the rapid growth of the automotive industry, which is a key end-user of superabrasives. Improved diversity of applications of superabrasive materials has also stimulated the global superabrasive market. However, the excessive cost of these materials that result in a high cost of production for various end-user industries, the lack of adequate skilled workforce to monitor the operations of superabrasive tools and price volatility of superabrasive products due to the fluctuating raw material prices may limit the superabrasive market globally. Alternatively, the superabrasive market is slated to generate innumerable growth opportunities due to the elevated demand for powertrains of automobiles and the flourishing automotive sector in emerging economies.

Superabrasive Market: Segmentation

The global superabrasive market is fragmented on the basis of material and end-user.

By material, the market is divided into diamond, cubic boron nitride, and others (wire dies and new crystals). The diamond segment held the largest share of around 70% of the global market in 2018. Diamond superabrasives are further divided into polycrystalline diamond, mesh diamond, and others (nanodiamond and chemical vapor deposited diamond). Cubic boron nitride further includes polycrystalline cubic boron nitride, mesh cubic boron nitride, and chemical vapor deposited cubic boron nitride. Cubic boron nitride materials are projected to show a higher CAGR, due to its superior thermal stability as compared to diamonds.

On the basis of end-user, the market includes automotive, oil and gas, building and construction, aerospace and defense, electrical and electronics, and medical.

Superabrasive Market: Report Scope

Report Attributes Report Details
Report Name Superabrasive Market Research Report
Market Size in 2023 USD 8.21 billion
Market Forecast in 2032 USD 13.47 billion
Growth Rate CAGR of 5.65%
Number of Pages 110
Key Companies Covered Element Six, Hyperion Materials & Technologies, Iljin Diamond, Showa Denko KK, Huanghe Whirlwind, Saint-Gobain, and ZZDM Superabrasive.
Segments Covered By End User, By Material, And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Superabrasive Market: Regional Analysis

The regional segment is divided into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

The Asia Pacific accounted for the largest share, of over 50%, of the global superabrasive market. This dominant market position can be attributed to elevated disposable income and purchasing power of consumers across the emerging economies of China and India and rapid growth in industrial output of key end-user industries, such as automotive, building and construction, etc.

Superabrasive Market: Key Players Drivers

Some major players of the global superabrasive market are:

  • Element Six
  • Hyperion Materials & Technologies
  • Iljin Diamond
  • Showa Denko KK
  • Huanghe Whirlwind
  • Saint-Gobain
  • ZZDM Superabrasive

This report segments the global superabrasive market into:

Global Superabrasive Market: Material Analysis

  • Diamond
    • Mesh Diamond
    • Polycrystalline Diamond
    • Other Diamond Materials
  • Cubic Boron Nitride
    • Mesh Cubic Boron Nitride
    • Polycrystalline Cubic Boron Nitride
    • Chemical Vapor Deposited Cubic Boron Nitride
    • Others
  • Others

Global Superabrasive Market: End-User Analysis

  • Electric and Electronics
  • Automotive
  • Oil and Gas
  • Construction and Building
  • Aerospace and Defense
  • Medical

Global Superabrasive Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Superabrasive is a material that exhibits superior grinding characteristics with an exceptionally long lifecycle. Superabrasive materials are coated on various tools, such as grinding wheels to improvise their grinding productivity. 

According to study, the global Superabrasive Market size was worth around USD 8.21 billion in 2023 and is predicted to grow to around USD 13.47 billion by 2032.

The CAGR value of Superabrasive Market is expected to be around 5.65% during 2024-2032.

Asia Pacific has been leading the global Superabrasive Market and is anticipated to continue on the dominant position in the years to come.
 

The global Superabrasive Market is led by players like Element Six, Hyperion Materials & Technologies, Iljin Diamond, Showa Denko KK, Huanghe Whirlwind, Saint-Gobain, and ZZDM Superabrasive.

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