Super Abrasives Market Research Size, Share, Report, Analysis, Trends & Forecast to 2023

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Super Abrasives Market Research Report Forecast
to 2023
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2023
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Super Abrasives Market - 2023
Global Super Abrasives Market
Information Product Type (Vitrified Diamond,
Vitrified CBN, Resin Bond Diamond, Resin Bond
CBN, Metal/ Hybrid Bond CBN), Application
(Cutting Tools, Tool Industry, Machinery,
Electronics/ Smartphones), Region Forecast Till
2023 Synopsis of Super Abrasives Market Super
abrasives, one of the hardest abrasives available
in the global market, are used for the precision
grinding. Offer various useful properties such as
high abrasive strength, compression strength,
high thermal conductivity, better surface
finishing, and longer service life. The super
abrasives market is witnessing high growth due to
growing adoption of super abrasives over the
conventional abrasives due to the superior
properties and durability they offer.
Furthermore, extensive demand for super abrasives
from various end use industries as medical,
automotive, electronics, and others is another
factor fueling the growth of the global super
abrasives market. These abrasives are extensively
used in production and processing of engines,
brakes, steering, suspension systems, rubber
tires, windshield glass mirrors, and other body
parts. Additionally, the rising modernization in
the automotive industry is a reason for
significant demand for high performance
customized engines, which is expected to drive
the market growth in the automotive sector.
Furthermore, various stringent government
regulations for protection of environment health
and reduction in CO2 emission such as State
Environment Protection Act (SEPA) in China,
Bharat Stage Emission Standard (BSES) in India,
Clean Air Act and Clean Water Act in the U.S.,
and the European Union regulations under
Registration, Evaluation, Authorization of
Chemicals (REACH) are expected to fuel the
product demand further in the coming years. The
changing lifestyle trend coupled with the high
disposable income has augmented the demand for
these products, thereby, propelling the market
growth. However, the high cost of super abrasives
may challenge the market growth during the
forecast period 2017-2023. Nevertheless,
manufacturers have started investing more on
research and development to reduce production
cost of super abrasives is likely to offer
considerable opportunities in coming years. The
global super abrasives market was valued at USD
10,024.3 million in 2017 and is expected to reach
USD 1.4 billion at a CAGR of 6.57 by the end of
forecast period.
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Super Abrasives Market - 2023
Regional Analysis Regionally, the super
abrasives market is spanned across five regions
namely Asia Pacific, North America, Europe, Latin
America, and the Middle East Africa. Asia
Pacific emerged as the leading super abrasives
market in 2016, which was majorly driven by the
increasing demand for durable and efficient
automobiles. Asia Pacific region accounted for
58.40 of the overall value share in 2016 and is
expected to grow at a healthy CAGR of 7.51 over
the forecast period. The increasing production
and sales of automotive and consumer goods in
China, Japan, and India is the major driver of
the regional market. Europe is the second
largest region and was valued at USD 1,006.6
million in 2016 and is projected to grow at a
healthy CAGR of 5.39 during the review period
2017-2023. Segmentation The super abrasives
market is categorized on the basis of product
type, application, and region. On the basis of
the product type, the market is segmented into
vitrified diamond, vitrified CBN, resin bond
diamond, resin bond CBN, metal/ hybrid bond CBN,
metal/ hybrid bond diamond, electroplated
diamond, electroplated CBN, rotary dressers, and
stationary dressers. On the basis of the
application, the market is segmented into cutting
tools, tool industry, machinery, electronics/
smartphones, bearings, powertrain, turbines,
gear, medical, primary metal, and others. Based
on the region, the market is segmented into Asia
Pacific, Europe, Latin America, North America,
and the Middle East Africa.
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Super Abrasives Market - 2023
Key Players Some of the key players operating in
the global super abrasives market are Saint
Gobain (France), 3M (U.S.), Carborundum Universal
Limited (France), Noritake (Japan), Meister
Abrasives (U.S.), KREBA RIEDEL (Germany),
Tyrolit Schleifmittelwerke Swarovski K.G.
(Austria), TOYODA VAN MOPPES LTD. (Tokyo), SUPER
ABRASIVES (India), Zhengzhou Hongtuo Super
Abrasive Products Co., Ltd (China), VSM Abrasives
Corporation (Germany), and others. Key
Findings Global super abrasives market is
projected to reach USD 14,681.1 million by the
end of the forecast period at a healthy
CAGR Vitrified diamond product type accounted for
the largest value market share of 16.00 in
2016. Resin Bond Diamond was the second-largest
market in 2016, valued at USD 1,325.9 million in
2016 it is projected to grow at a CAGR of 7.11
during the forecast period Asia Pacific is the
largest and fastest growing market across the
globe, which accounted for 58.40 share of the
global market in 2016. Saint Gobain is the
leading manufacturer of high performance
polyamide Intended Audience Super abrasives
manufacturers Traders and distributors of super
abrasives Production process industries Potential
investors Raw material suppliers
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