Market Size of Super Abrasives Industry
| 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 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 | ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Super Abrasives Market Size Summary
The super abrasives market is anticipated to experience significant growth over the forecast period, driven by increasing applications in the electronics industry. These abrasives are essential for processing materials such as semiconductors, ceramics, and various alloys, which are crucial in manufacturing electronic components like Printed Circuit Boards (PCBs). The demand for super abrasives is further bolstered by the expansion of electronic manufacturing companies, with major players like Apple and Samsung leading the charge. However, the high initial investment required for these abrasives poses a challenge to market growth. Despite this, emerging technologies that streamline production processes present new opportunities for market expansion.
The Asia-Pacific region is expected to dominate the super abrasives market, with countries like China, India, and Japan at the forefront due to their robust electronics and automotive industries. China's extensive electronics production base and India's rapidly growing electronics manufacturing sector, supported by favorable government policies, are key contributors to this dominance. The increasing demand for consumer electronics and automobiles in these regions is driving the need for super abrasives. Additionally, the market is characterized by fragmentation, with major players such as Asahi Diamond Industrial Co., Ltd., Saint-Gobain, and 3M actively participating in market developments through strategic acquisitions and expansions.
Super Abrasives Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Drivers
-
1.1.1 Expanding Electronics Industry
-
1.1.2 Conventional Abrasives Substituted by Super Abrasives
-
-
1.2 Restraints
-
1.2.1 High Initial Investment due to High Cost of Abrasives
-
-
1.3 Industry Value-Chain Analysis
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Bargaining Power of Suppliers
-
1.4.2 Bargaining Power of Consumers
-
1.4.3 Threat of New Entrants
-
1.4.4 Threat of Substitute Products and Services
-
1.4.5 Degree of Competition
-
-
-
2. MARKET SEGMENTATION (Market Size in Value)
-
2.1 Material Type
-
2.1.1 Diamond
-
2.1.2 Cubic Boron Nitride (CBN)
-
-
2.2 Application
-
2.2.1 Powertrain
-
2.2.2 Bearing
-
2.2.3 Gear
-
2.2.4 Tool Grinding
-
2.2.5 Turbine
-
2.2.6 Other Applications
-
-
2.3 End-user Industry
-
2.3.1 Aerospace
-
2.3.2 Automotive
-
2.3.3 Medical
-
2.3.4 Electronics
-
2.3.5 Oil and Gas
-
2.3.6 Other End-user Industries
-
-
2.4 Geography
-
2.4.1 Asia-Pacific
-
2.4.1.1 China
-
2.4.1.2 India
-
2.4.1.3 Japan
-
2.4.1.4 South Korea
-
2.4.1.5 Rest of Asia-Pacific
-
-
2.4.2 North America
-
2.4.2.1 United States
-
2.4.2.2 Canada
-
2.4.2.3 Mexico
-
-
2.4.3 Europe
-
2.4.3.1 Germany
-
2.4.3.2 United Kingdom
-
2.4.3.3 Italy
-
2.4.3.4 France
-
2.4.3.5 Nordic Countries
-
2.4.3.6 Rest of Europe
-
-
2.4.4 Rest of the World
-
2.4.4.1 South America
-
2.4.4.2 Middle-East and Africa
-
-
-
Super Abrasives Market Size 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.
