Global Super Abrasives Market by Product Type, Application, Region and Forecast to 2023

Global Super Abrasives Market Information: Product Type (Vitrified Diamond, Vitrified CBN, Resin Bond Diamond, Resin Bond CBN, Metal/ Hybrid Bond CBN), Application (Cutting Tools, Tool Industry, Machinery, Electronics/ Smartphones), Region – Forecast Till 2023

Market Scenario
One of the hardest forms of abrasives is the super abrasives that are mainly utilized for the precision grinding purpose. With properties like higher abrasive strength, high thermal conductivity, compression strength, longer service life, and better surface finishing, these super abrasives are highly used in various end-user industries. The global super abrasives market was estimated to reach the valuation of USD 10,024.3 million in the year 2017 and is further anticipated to reach the value of USD 1.4 billion by the year 2023. The market is growing at a CAGR of 6.57% during the forecast period (2017-2023).
The super abrasives market is seeing a higher development with the increasing adoption of the super abrasives over the ordinary abrasives because of the predominant properties and durability that they offer. Moreover, higher interest for super abrasives from different end-use businesses like medical, car, gadgets, and others; is another factor powering the development of the global super abrasives market. These abrasives are broadly utilized in the production of motors, brakes, suspension frameworks, steering, elastic and tires, windshield glass, and other body parts. Furthermore, the rising technological advancement in the automobile business is the reason behind the growing interest for high-performance customized engines, which is projected to drive the market development in the automotive sector.

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Market Segmentation
The super abrasives market is classified on the basis of its application, product type, and regional demand. Based on its product type, the market is bifurcated into vitrified CBN, vitrified diamond, resin bond diamond, metal/ hybrid bond diamond, resin bond CBN, metal/ hybrid bond CBN, electroplated diamond, rotary dressers, electroplated CBN, and stationary dressers. On the basis of its application, the market is divided into cutting tools, machinery, tool industry, primary metal, electronics/ smartphones, powertrain, bearings, turbines, medical, gear, and others. Based on its regional demand, the super abrasives market is segmented into global regions like Asia Pacific, Latin America, North America, Europe, and the Middle East & Africa.

Key Players
Some of the major players in the global super abrasives market include companies like Saint Gobain (France), Carborundum Universal Limited (France), 3M (U.S.), Noritake (Japan), KREBA & RIEDEL (Germany), Meister Abrasives (U.S.), Tyrolit Schleifmittelwerke Swarovski K.G. (Austria), SUPER ABRASIVES (India), TOYODA VAN MOPPES LTD. (Tokyo), VSM Abrasives Corporation (Germany), Zhengzhou Hongtuo Super Abrasive Products Co., Ltd (China), and others.

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Table of Content

1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
2.5 Key Takeaways
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.2.1 Relatively greater adoption of super abrasives than conventional abrasives
5.2.2 Broad application spectrum of super abrasives
5.2.3 Expanding automotive sector
5.3 Restraints
5.3.1 High prices associated with super abrasives
5.4 Opportunities
5.4.1 Increasing demand in the medical sector
5.4.2 Growing research projects for cost reduction
5.5 Challenges
5.5.1 Volatile super abrasives demand in the emerging economies

Continued…

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Ronard

Ronard Completed his Master in Communication, after completing his degree he opted full-time research as his career. Ronard Main Area of Specialization is Market Research, he also contributes to Various Online Blog

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