(EMAILWIRE.COM, March 26, 2022 ) Super Abrasives Market size is expected to be valued at US$11.1 billion by the end of the year 2027 after growing at a CAGR of 6.2% during the forecast period from 2022-2027. The growth of the manufacturing sector is highly driving the super abrasives market. Another major driving factor of super abrasives market is the increase in demand for vitrified diamond tools in the manufacturing industry and the increase in precision & machining tools due to the rise in production of motor vehicles and construction activities. Super abrasives are also extensively used in the automobile industry for the injection systems. The growth in the construction industry is also fuelling the demand for super abrasives market, as it is required for the cutting tools technologies used in the construction industry. The increase in implementation of these manufacturing technologies such as cutting tools, precision tooling and machining tools is also driving the super abrasives industry.
Impact of Covid-19
The COVID-19 pandemic has disrupted the business of super abrasives market in terms of production and logistics. The economic slowdown globally has affected the operation of the business which has led to the decrease in the production and eventually disrupting the supply chain of the product. There are heavy restrictions on imports and exports, which will in turn take a toll on the super abrasives industry. The marketing activities came to a standstill as there was an economic lockdown, affecting the marketing programmers and events. However, the situation is set to become normal by the end of the year 2021.
Super Abrasives Market Segment Analysis By Material Type
Diamond segment held the largest share in the super abrasives market in the year 2021 and is expected to grow at a CAGR of 5.6% during the forecast period. The increase in demand for vitrified diamond tools comes from the growing demand for cutting and grinding equipment. Diamond provides various advantages such as anti-adhesion, wear resistance, low friction coefficient and chemical inertness, which contributes to the increase in demand for diamond in the super abrasives market. Verified diamond tools are extensively used in various cutting tools applications, precision tooling etc., therefore increasing the demand for diamond segment in the super abrasives market. Synthetic diamonds are preferred over natural diamonds owing to the high efficiency offered by synthetic diamonds. These properties and advantages attached to the diamonds is driving the diamond segment of the super abrasives market.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=503192
Report Price: $ 4500 (Single User License)
Super Abrasives Market Segment Analysis By Form
Grinding Wheels segment held the largest share in the super abrasives market in the year 2021 and is expected to rise at the CAGR of 5.1% over the forecast period from 2022-2027. The increase in the use of grinding in construction sector for activities like smoothening steel bars, concrete surface grinding and tiles grinding is hugely driving the grinding wheels segment of the super abrasives market. Grinding wheels are also extensively used in sharpening tools, which is used in kitchen appliances and also medical appliances. The increase in need for precision tools is also driving the grinding wheels segment of the super abrasives market. According to Shake Deal, Indias largest procurement focused B2B e-commerce platform, grinding wheels are available at prices as low as US$6.17 (Rs.400 in India), which is used for commercial purposes and residential applications, such as for tool sharpening.
Super Abrasives Market Segment Analysis By Application
Tool grinding segment held the largest share of more than 30% in the super abrasives market in the year 2021. Super abrasives are hugely used in tool grinding application, as tools require high precision smoothening and sharpening. Tool grinding is extremely versatile and can be used to perform various grinding activities. It is used for commercial purposes as well as for applications used in residential purposes. The increase in demand for machining and sharpening is increasing the need for tool grinding segment in the super abrasives market. The growth in the manufacturing sector in the present days is one of the significant factor driving the super abrasives market. According to Indian Brand Equity Foundation, the manufacturing sectors gross value added (GVA) stood at US$397.14 billion in the year 2020 in India.
Super Abrasives Market Segment Analysis By End-User
IndustryElectricals and electronics segment held the largest share in the super abrasives market in the year 2021. Super abrasives are capable of processing various materials such as semi-conductor materials, ceramics, carbide alloys, copper, copper alloys, aluminum, resin, and rubber. According to Indian Brand Equity Foundation, the market size of electronics and electrical industry stood at US$400 billion in India in the year 2020, which will further drive the demand for super abrasives market. Super abrasives are highly used for making printed circuit boards (PCBs) in electronics devices, like desktop computers, home theater systems, laptops, smartphones etc., This has led to the increase in use of super abrasives in the electrical and electronics industry.
Super Abrasives Market Segment Analysis By Geography
Asia-Pacific region held the largest share of more than 35% in the super abrasives market in the year 2021. The increase in need for cost effective and innovative procedures (like automated systems, robotics, sensors etc.,) in the countries like India, China and South Korea has led to the increase in demand for super abrasives in the region. Increase in production and sales of electronic products in countries like China and India, owing to the growing middle-class income, change in lifestyles of the working class, and rapid urbanization is contributing to the growth of super abrasives in the market. The increase in production of electronics in the APAC region has contributed to the growth of super abrasives market. China is expected to reach US$152.7 billion in terms of value in the electronics products market in the year 2020.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=503192
Super Abrasives Market Drivers
Growing demand in construction and manufacturing sector
The increase in demand for super abrasives in construction industry for precision and smoothening activities is driving the super abrasives market. For instance, according to Invest India (National Investment Promotion & Facilitation Agency), the construction sector in India is expected to record a CAGR of 15.7% from year 2020 to year 2022 and reach US$738.5 billion by 2022, which is expected to further drive the super abrasives market. Super abrasives are used for smoothening tiles, steel bars and concrete surfaces in the construction market. The increase in use of abrasives in manufacturing sector in various applications such as grinding, sharpening, reshaping etc., are also driving the super abrasives market.
Increase in automated systems
Super abrasives are used by automated systems and machining centres. This requires higher machining process operating speed for better and smooth surface finish. Such automated system requires super abrasives as they use precision tooling technology and other applications. The rise in demand and use of such applications is set to drive the growth for super abrasives industry. The increase in implementation of these industrial innovations is set to fuel the demand for super abrasives products and lead to the growth of super abrasives market.
Super Abrasives Market Challenges
Complexity and high initial cost
The increasing complexity of super abrasives is one of the biggest challenges of the super abrasives market. The initial cost of investing on super abrasives is also quite high which makes it difficult for small and medium size enterprises to use super abrasives. These small and medium size business does not have access to R&D resources and intelligence reports, which makes them less aware of super abrasives products which acts as one of the significant challenges of the super abrasives market.
Super Abrasives Market Industry Outlook
New product launches, acquisitions and mergers, expansions, collaborations and investments are some of the key strategies adopted by players in theSuper Abrasives Market.
Major players in the Super Abrasives Market are Sak Abrasives Inc., Saint-Gobain, Action Super Abrasive, Carborundum Industrial Co. Ltd, Eagles Superabrasives, Ehwa Diamond Industrial Co. Ltd, Klingspor, Mirka Ltd, Sia Abrasives Industries and 3M among others.
In February 2019, Sak Abrasives Inc., a subsidiary of Sak Industries Private Ltd., acquired Buffalo Abrasives Inc. to expand its production capabilities and international presence.
Asia-Pacific market held the largest share in the super abrasives market owing to the increase in focus on cost-effective and innovative procedures(such as industrial robotics, sensors etc.,) adopted in the region.
The increase in automated systems and machining centres are driving the super abrasives market as they are used for better surface finish by high operating speed of the machining process.
The increase in use of applications such as precision tooling, cutting tools, injection systems etc., in the manufacturing, automobile and construction industry is also driving the super abrasive market.
The extensive use of super abrasives in aerospace applications and other industrial applications is also driving the super abrasives market growth.
Global Abrasives Market
For more Chemicals and Materials Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.
Discussion about this post