What is Global Superabrasive Market?
The Global Superabrasive Market is a vast and complex field that encompasses a variety of materials and applications. Superabrasives are essentially extremely hard materials that are used in a variety of industries for cutting, grinding, and polishing. These materials are typically harder than traditional abrasives, such as silicon carbide and aluminum oxide, and are therefore capable of performing tasks that traditional abrasives cannot. The global market for these superabrasives is substantial and continues to grow. In 2022, the market was valued at a whopping US$ 1343 million. This figure is expected to increase to US$ 1713.6 million by 2029, representing a compound annual growth rate (CAGR) of 3.5% from 2023 to 2029.
Diamond, Cubic Boron Nitride (CBN), Others in the Global Superabrasive Market:
The Global Superabrasive Market is dominated by three major players who collectively hold over 55% of the market share. These companies have a significant influence on the market and its trends. However, there are also a number of smaller players who contribute to the diversity and dynamism of the market.
Automotive, Machinery, Metal Fabrication, Aerospace, Others in the Global Superabrasive Market:
In terms of product types, the diamond segment is the largest in the Global Superabrasive Market, accounting for about 80% of the market. Diamonds are not only the hardest known material, but they also have excellent thermal conductivity, a low coefficient of friction, and a low rate of wear. These properties make diamonds an ideal superabrasive for a wide range of applications. Other types of superabrasives, such as cubic boron nitride (CBN) and others, also have a presence in the market, but their share is significantly smaller.
Global Superabrasive Market Outlook:
The Global Superabrasive Market finds its applications in a variety of industries. The automotive industry, for instance, uses superabrasives for precision grinding and polishing of various components. Similarly, the machinery industry uses these materials for the manufacturing and maintenance of various types of machinery. The metal fabrication industry also relies heavily on superabrasives for tasks such as cutting, grinding, and polishing of metal parts. The aerospace industry is another major user of superabrasives, where they are used for the precision machining of various aerospace components. Other industries, too, find various uses for superabrasives, further contributing to the growth of the Global Superabrasive Market.
| Report Metric | Details |
| Report Name | Superabrasive Market |
| Accounted market size in 2022 | US$ 1343 in million |
| Forecasted market size in 2029 | US$ 1713.6 million |
| CAGR | 3.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Element Six, Sandvik, ILJIN Diamond, Zhongnan Diamond, Huanghe Whirlwind, Sino-Crystal Diamond, JINQU Superhard, CR GEMS, Anhui HongJing, Yalong Superhard Materials, Saint-Gobain, Sumitomo Electric Industries, Tomei Diamond, FUNIK, Famous Diamond, Besco Superabrasives |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
