According to TechSci Research report, “Global Super Abrasives Market By Product, By Application, By Region, Competition, Forecast & Opportunities, 2025”, the global super abrasives market is estimated at around $ 3.5 billion in 2020 and is projected to grow to $ 4.8 billion by 2025. Super abrasive materials are used for coating several tools, like grinding wheels to enhance their grinding output, which is driving the market growth. Rising demand for medical equipment such as surgical bone drills, pace makers, hearing aids, etc., is also boosting the growth of super abrasives market worldwide. Furthermore, manufacturing processes like machining centers and automated systems are widely using the product owing to requirement of high operating speeds for machining process. Due to the increasing implementation of these manufacturing technologies, the global super abrasives market is forecast to rev up over the next five years.
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Global super abrasives market has been 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, Cubic Boron Nitride (CBN) segment is the largest segment and is expected continue its dominance during the forecast period. The increasing awareness regarding the benefits of CBN over other hard materials used for various industrial processes, such as cutting, grinding, drilling, and boring, is having the most significant impact on the growth of CBN segment. Further, based on application, the automotive sector dominates the market, however, in the present scenario of Coronavirus pandemic, the automotive industry is experiencing huge fluctuations. Rapid decrease in vehicle sales coupled with shutting down of automobile and component manufacturing plants globally has negatively impacted the automotive industry. Nevertheless, super abrasives are experiencing significant demand from the medical industry. Due to the sudden onslaught of the Coronavirus pandemic, there is a sudden surge in demand for emergency medical equipment and protective gear, which is further driving the sales of super abrasives.
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Saint-Gobain Abrasives, Inc, Günter Wendt GmbH Radiac Abrasives, Inc, Noritake Co. Limited, Asahi Diamond Industrial Co., Ltd, 3M Company, Carborundum Universal Ltd, Guangdong Chanway Industrial Co. Ltd, etc., are the leading players operating in the global super abrasives market. “Asia-Pacific is expected to witness fastest growth in the global super abrasives market until 2025 on the account of increasing construction work and infrastructural activities coupled with rising per capita income levels across the developing economies such as China and India. Additionally, continuing growth of key end-user industries, like building, automotive, etc., coupled with rising emphasis on manufacturing sector, is further forecast to boost the growth of the 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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