Asia Pacific to Dominate Global Super Abrasives Market During Forecast Period


Posted March 20, 2020 by Techsci-research

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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Last Updated March 20, 2020