Global Super Abrasives Market (2021 to 2027) - by Product, Application, Industry and Region
Added 09-03-21 04:04:02pm EST - “The "Global Super Abrasives Market, By Product (CBN, Diamond), By Application (Bearing, Gear, Tool Grinding, Turbine, Powertrain, Others), By Industry (Construction, Automotive, Aerospace, Metal Fabrication, Others), Estimation &…” - Finance.yahoo.com
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DUBLIN, Sept. 3, 2021 /PRNewswire/ -- The "Global Super Abrasives Market, By Product (CBN, Diamond), By Application (Bearing, Gear, Tool Grinding, Turbine, Powertrain, Others), By Industry (Construction, Automotive, Aerospace, Metal Fabrication, Others), Estimation & Forecast, 2017 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global super abrasives market held a market value of USD 6,351.5 Million in 2020 and is projected to reach USD 9,767.4 Million by the year 2027. The market is anticipated to grow at a CAGR of 6.5% from 2017 to 2027.Super abrasives are special tools utilized for precision grinding. They are known as super abrasives owing to their unparalleled performance, extraordinary hardness, and longevity. The market is majorly driven owing to the conventional abrasives substituted by super abrasives and the use of diamond in grinding wheels for precision & machining tools. However, the high-performance application coupled with high initial cost and the lack of raw material availability & stringent regulations is anticipated to negatively hamper the market growth.Growth Influencers:
Conventional abrasives substituted by super abrasivesConventional abrasives include silicon carbide and corundum, among others. They are natural grains usually blended or fuelled with other abrasive grains so that the grinding wheel can perform as required. On the other hand, super abrasives use synthetic or natural diamonds or CBN, a synthetic grain. They have substituted conventional abrasives, as they can run at higher speeds, and their thermal stability is also higher. This also adds to their long life. They also require less dressing as compared to their conventional counterparts due to their durability. For instance, if a manufacturer has 30 to 40 parts per dress with a conventional abrasive, they have 1,200 parts per dress for a CBN abrasive. This makes it ideal for high-volume environments as well. All these factors are expected to positively influence market growth.Usage of diamond in grinding wheels for machining and precision toolsDiamond is the most used precision tool grinding method for cutting tools which are utilized for making stamping dies, precision machinery components, and injection molds. The diamond is grown on industrial scales to supply the tremendous demand of the metalworking industry globally. These diamonds are also more uniform in shape as well as hardness, as compared to natural diamonds. Furthermore, diamonds are significantly harder than conventional abrasives, such as silicon carbide and aluminum oxide. Such factors are anticipated to fuel growth in super abrasives market.Competitive Landscape
Major players in the global Super Abrasives market include Action SuperAbrasive, 3M, Asahi Diamond Industrial Co. Ltd, CarborundumUniversal Ltd, Diametal AG, Element Six (UK) Limited, Finzler, Schrock & Kimmel GmbH, Henan Huanghe Whirlwind Co., Ltd., Husqvarna AB, Hyperion Materials & Technologies, ILJIN DIAMOND CO., LTD, Noritake, Saint-Gobain S.A., SHOWA DENKO K.K., Super Abrasives Inc., and Zhengzhou ZZDM Superabrasives Co., Ltd., among others.The cumulative market share of the five major players is near about 40.5%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in April 2021, Hyperion Material & Technologies completed the acquisition of Crafts Technologies, a manufacturer of high-precision manufacturer of custom-made cemented tungsten carbide solutions. Furthermore, in June 2020, Element Six launched the DNV-B1, a general-purpose chemical vapor deposition quantum grade diamond. This expanded company's product portfolio.
What are the inhibiting factors and impact of COVID-19 on the Global Super Abrasives Market during the assessment period?
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