New York, United States , July 01, 2024 (GLOBE NEWSWIRE) -- The Super Abrasive Market Size is to Grow from USD 48.89 Billion in 2023 to USD 86.54 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.88% during the projected period.
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Super abrasive tools are those that use diamond or CBN (Cubic Boron Nitride) as the abrasive material and are used for polishing, grinding, or dressing. Because of their complementarity in the processing materials, diamond, and CBN (Cubic Boron Nitride) abrasives significantly broaden the spectrum of abrasive tools that can cover almost all processed materials, including high hardness, high brittleness, and high toughness materials. Natural and synthetic abrasives are the two main categories. Every application requires the usage of both kinds of abrasive materials. Pastes, powders, gains, and slurries are the most popular types of abrasive supplies. The abrasive classification system is based on grain size. The abrasives are used in numerous processes, including coating, polishing, core sanding, and repair sanding. Additionally, the automotive industry uses abrasives for dusting, polishing, and cleaning. Because of the increasing requirement for abrasives in the automotive industry for a range of applications, the market is growing as a result. Furthermore, the raw ingredients required to manufacture abrasives are imported from different nations, and using abrasives has very expensive operational costs. The market's expansion is restricted by a decrease in raw material availability related to the depletion of these resources.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the “Global Super Abrasive Market Size, Share, and COVID-19 Impact Analysis, By Raw Material (Natural & Synthetic), By Product Type (Coated Abrasives, Bonded Abrasives, and Super Abrasives), By End-Use Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electrical & Electronics Equipment, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033”
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The synthetic segment holds the largest market share of the super abrasive market during the projected timeframe.
Based on the raw material, the super abrasive market is divided into natural & synthetic. Among these, the synthetic segment holds the largest market share of the super abrasive market during the projected timeframe. Synthetic abrasives are products that treat chemicals or raw materials. Among these materials are alumina, silicon carbide, and synthetic diamond. Because they make it easier to modify the abrasive grain form, purity, and internal crystal structure, they are useful for a range of applications.
The coated abrasives segment accounted for the highest revenue share in the super abrasive market during the projected timeframe.
Based on the product type, the super abrasive market is divided into coated abrasives, bonded abrasives, super abrasives, and others. Among these, the coated abrasives segment accounted for the highest revenue share in the super abrasive market during the projected timeframe. The coated portion consists of grains, a backing material, and a bonding adhesive. Each of these components contributes to the unique characteristics of the product, allowing it to be applied in a range of situations. The utilization of coated abrasives in furniture, medical items, general engineering, consumer product manufacture, and hand and power tools will drive segmented growth.
The metal fabrication segment is anticipated to grow at the highest CAGR growth in the super abrasive market during the estimated period.
Based on the end-use industry, the super abrasive market is divided into automotive, machinery, aerospace, metal fabrication, electrical & electronics equipment, and others. Among these, the metal fabrication segment is anticipated to grow at the highest CAGR growth in the super abrasive market during the estimated period. By this type of fabrication, metal structures are created using cutting, bending, and assembly processes. This product functions as chop saws or cut-off saws, shaping metal into the desired shape with the help of their steel-cutting abrasive disks.
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Asia Pacific is expected to hold the largest share of the super abrasive market over the forecast period.
Asia Pacific is expected to hold the largest share of the super abrasive market over the forecast period. The increasing need for electronics in nations like China, India, and Japan is driving increased demand for super abrasives in the region's industrial sector. Building up the region's infrastructure attracted more capital to the manufacturing industry, and throughout the forecast period, the region's growing economies will fuel market expansion by producing more electric vehicles.
North America is predicted to grow at the fastest pace in the super abrasive market during the projected timeframe. Due to the United States' significant developments in technical advancement, machine component manufacture, and precise tooling, the market in the region is likely to increase. The pandemic resulted in a stronger focus on the production of electric vehicles in the region, and the recent development of aircraft manufacturing is expected to help the market's expansion throughout the projection period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the super abrasive market include Sino-Crystal Diamond, 3M, Nippon Resibon Corporation, Robert Bosch GmbH, JINQU Superhard, Anhui HongJing, Deerfos, Sak Industries, Carborundum Universal Limited, Saint Gobain, Deerfos, Asahi Diamond Industrial, Fujimi Incorporated, and Krebs & Riedel, and others.
Corporation, and others.
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Recent Developments
- In June 2023, 3M declared its acquisition of Diamond Productions Inc., a manufacturer of CBN (cubic boron nitride) and super abrasive diamond wheels and machinery for sizing and finishing difficult-to-grind materials used in the stone fabrication, woodworking, and metalworking industries.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the super abrasive market based on the below-mentioned segments:
Global Super Abrasive Market, By Raw Material
- Natural
- Synthetic
Global Super Abrasive Market, By Product type
- Coated Abrasives
- Bonded Abrasives
- Super Abrasives
Global Super Abrasive Market, By End-Use Industry
- Automotive
- Machinery
- Aerospace
- Metal Fabrication
- Electrical & Electronics Equipment
- Others
Global Super Abrasive Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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