Super Abrasives Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Super Abrasives Market Analysis
The super abrasives market is projected to register a CAGR of more than 9% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the market is estimated to have reached pre-pandemic levels and is expected to grow steadily.
- Increasing usage of super abrasives in the Electronics industry is likely to fuel the market growth during the forecast period.
- On the other hand, high initial investment due to the high cost of abrasives is expected to hinder market growth.
- Emerging technologies easing production and using super abrasives will likely create opportunities for the market in the coming years.
- The Asia-Pacific region is expected to dominate the market during the forecast period owing to its growing development in major countries such as India, China, and Japan.
Super Abrasives Market Trends
This section covers the major market trends shaping the Super Abrasives Market according to our research experts:
Expanding Electronics Industry
- Super abrasives find various applications in the electronics industry. These tools can be used to process semiconductor materials, ceramics, carbide alloys, copper and copper alloys, aluminum, resin, and rubber, which are majorly used in electronic component manufacturing.
- Super abrasive grinding tools are primarily used to develop Printed Circuit Boards (PCBs) PCBs in the electronics industry. PCBs are critical for many electronic devices, like desktop computers and home theater systems.
- Super abrasives in the electronics industry provide consistent slicing performance, uniform diamond counts, uniform wire diameter, even diamond distribution, and no diamond clustering.
- Super abrasives are also required in the electronics sector for disc texturing, wafer manufacturing, polishing, optic windows, semiconductors, and heat sinks.
- Furthermore, several electronic companies are also growing substantially. For instance, in 2022, Apple, with 378.7 billion US dollars in sales, ranked number one among other consumer electronics companies on the Forbes list, followed by Samsung Electronics. Thus, with the growth of electronic manufacturing companies, the demand for super abrasives also increases substantially.
- The increasing usage of more innovative and efficient electronic devices is expected to lead to increased demand for super abrasives and their tools.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the super abrasives market. Owing to the demand for electronics in countries such as China, India, and Japan, the demand for super abrasives in manufacturing is also increasing in the region.
- China includes the world's most extensive electronics production base. Electronic products, such as wires, cables, computing devices, and other personal devices, recorded the highest growth in the electronics segment. The country serves the domestic demand for electronics and exports electronic output to other countries. According to the National Bureau of Statistics of China, the revenue in the consumer electronics and household appliances segment reached CNY 934.64 million (~USD 138.40 million) in 2021.
- Furthermore, according to the International Organization of Motor Vehicle Manufacturers (OICA), China is the largest producer of automobiles, accounting for about 32.5% of the global volume. The country produced 26,082,220 units in 2021, registering an increase of 3% compared to 25,225,242 units in 2020.
- In India, the consumer durables, like electronic appliances, have witnessed a tremendous increase in production and sales, owing to the growing middle-class income, rapid urbanization, and change in lifestyle of the working class. Government initiatives have supported the expansion of consumer electronics products.
- The Indian electronics industry is one of the fastest-growing industries globally. The domestic electronics manufacturing sector is expanding at a steady rate, owing to favorable government policies, such as 100% foreign direct investment (FDI), no requirement for industrial licenses, and the technological transformation from manual to automatic production processes.
- According to the India Brand Equity Foundation (IBEF), the Indian electronics manufacturing industry is expected to reach USD 520 billion by 2025. Electrical and electronics production in India is expected to increase rapidly due to government initiatives with policies, such as Make in India, National Policy of Electronics, Net Zero Imports in Electronics, and Zero Defect Zero Effect, which offer a commitment to growth in domestic manufacturing, lowering import dependence, energizing exports, and manufacturing, like the "Make in India" program to make the country self-reliant.
- According to IATA (International Air Transport Association) report, India is poised to become the third-largest aviation market in the world by the end of the forecast period. According to the IATA, India is expected to overtake China and the United States as the world's third-largest air passenger market by 2030. The country is projected to demand 2,100 aircraft over the next two decades, amounting to over USD 290 billion in sales.
- All the factors above are expected to boost the market studied during the forecast period.
Super Abrasives Industry Overview
The super abrasives market is fragmented in nature. Some of the major players in the market include Asahi Diamond Industrial Co., Ltd., Saint-Gobain, 3M, NORITAKE CO., LIMITED, and TYROLIT, among others. (in no particular order).
Super Abrasives Market Leaders
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3M
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TYROLIT
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Asahi Diamond Industrial Co.,Ltd.
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NORITAKE CO., LIMITED
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Saint-Gobain
*Disclaimer: Major Players sorted in no particular order
Super Abrasives Market News
- June 2022: 3M announced that it had acquired Diamond Productions Inc. The company manufactures super abrasive diamonds, CBN (cubic boron nitride) wheels, and tools for dimensioning and finishing hard-to-grind materials.
- May 2022: Effective April 29, 2022, Heger company became part of Husqvarna Construction to expand the market of light equipment and diamond tools for construction.
Super Abrasives Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Drivers
- 4.1.1 Expanding Electronics Industry
- 4.1.2 Conventional Abrasives Substituted by Super Abrasives
-
4.2 Restraints
- 4.2.1 High Initial Investment due to High Cost of Abrasives
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
-
5.1 Material Type
- 5.1.1 Diamond
- 5.1.2 Cubic Boron Nitride (CBN)
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5.2 Application
- 5.2.1 Powertrain
- 5.2.2 Bearing
- 5.2.3 Gear
- 5.2.4 Tool Grinding
- 5.2.5 Turbine
- 5.2.6 Other Applications
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5.3 End-user Industry
- 5.3.1 Aerospace
- 5.3.2 Automotive
- 5.3.3 Medical
- 5.3.4 Electronics
- 5.3.5 Oil and Gas
- 5.3.6 Other End-user Industries
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Nordic Countries
- 5.4.3.6 Rest of Europe
- 5.4.4 Rest of the World
- 5.4.4.1 South America
- 5.4.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Asahi Diamond Industrial Co.,Ltd.
- 6.4.3 CUMI
- 6.4.4 Dr.Kaiser
- 6.4.5 Gunter Effgen GmbH
- 6.4.6 Heger GmbH Excellent Diamond Tools
- 6.4.7 Husqvarna Group
- 6.4.8 Hyperion Materials & Technologies
- 6.4.9 KURE GRINDING WHEEL
- 6.4.10 NORITAKE CO., LIMITED
- 6.4.11 Saint-Gobain
- 6.4.12 Tyrolit
- 6.4.13 Zhengzhou Hongtuo Superabrasive Products Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Emerging Technologies Easing Production and Use of Super Abrasives
Super Abrasives Industry Segmentation
Super abrasives are tools used for grinding and polishing in various automotive, electronics, aerospace, and other industries. Material Type, Application, End-user Industry, and Geography segment the super abrasives market. By Material Type, the market is segmented into Diamond and Cubic Boron Nitride. By application, the market is segmented into Powertrain, Bearing, Gear, Tool Grinding, Turbine, and Other Applications. By end-user Industry, the market is segmented into Aerospace, Automotive, Medical, Electronics, Oil and Gas, and Other End-user Industries. The report also covers the market size and forecasts for the market in 11 countries across the globe. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Material Type | Diamond | |
| Cubic Boron Nitride (CBN) | ||
| Application | Powertrain | |
| Bearing | ||
| Gear | ||
| Tool Grinding | ||
| Turbine | ||
| Other Applications | ||
| End-user Industry | Aerospace | |
| Automotive | ||
| Medical | ||
| Electronics | ||
| Oil and Gas | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Nordic Countries | ||
| Rest of Europe | ||
| Geography | Rest of the World | South America |
| Middle-East and Africa |
Super Abrasives Market Research FAQs
What is the current Super Abrasives Market size?
The Super Abrasives Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in Super Abrasives Market?
3M, TYROLIT, Asahi Diamond Industrial Co.,Ltd., NORITAKE CO., LIMITED and Saint-Gobain are the major companies operating in the Super Abrasives Market.
Which is the fastest growing region in Super Abrasives Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Super Abrasives Market?
In 2024, the Asia Pacific accounts for the largest market share in Super Abrasives Market.
What years does this Super Abrasives Market cover?
The report covers the Super Abrasives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Super Abrasives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Super Abrasives Industry Report
Statistics for the 2024 Super Abrasives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Super Abrasives analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
