Global Super Abrasive Market
Posted by manisha on April 22nd, 2021
Global Super Abrasive Market size was US$ XX Bn. in 2019 and is expected to reach US$ 5.1 Bn. by 2027, at a CAGR of XX% during forecast period.
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Super abrasive is a material that shows superior grinding characteristics with a very long lifecycle. Super abrasive materials are coated on many tools, like grinding wheels to improvise their grinding productivity. They are extensively popular because of their peculiar characteristics like high scale hardness, entrenched lifecycle, and superlative performance.
In the recent time, the super abrasive grains of cubic boron nitride (CBN) are used in many industrial applications. Aluminium oxide (Al2O3) is one of the conventional materials for crushing wheels. This Aluminum oxide wheel, in addition to others, has its certain drawbacks. Such as, it has to eradicate deposited carbon frequently during the process of grinding, to keep its performance up to its stated level and efficiency.
Improved diversity of applications of super abrasive materials has also stimulated the global market for super abrasive. However, the excessive cost of these materials that result in a high cost of production for many industries and price volatility of super abrasive products because of the fluctuating raw material costs may limit the super abrasive global market. Similarly, the report covers all the trends and technologies playing a major role in the growth of the super abrasive market over the forecast period.
The report covers the segments in the super abrasive market such as product, application, and end-user. Based on the product, a diamond segment expected to grow at the highest XX% CAGR during the forecast period. Diamond is used in the machining of materials like cast iron, nickel, and cobalt-based superalloys, where precision in machining operations is of prime importance.
By End-User, electric and electronics segment is expected to grow at the highest CAGR of XX.XX% and anticipated to hold the highest market share of XX% over the forecast period. This is owing to the growing demand for precision grinding technology to make smaller and complex pieces with tight tolerances, which fit properly in machine components.
The APAC is expected to continue to hold the largest XX% share in the super abrasive market owing to rising disposable income and growing purchasing power for electronic gadgets in emerging countries such as China, Japan and India leading to increasing demand for super abrasives in the region.
In India, the consumer durables, such as electronic appliances, have witnessed a tremendous upsurge in the production and sales, because of the growing middle-class income, rapid urbanization, and change in lifestyle of the working class. China has the world’s major electronics production base. Electronic products, like tablets, wires, and cables, smartphones, recorded the highest growth in the electronics segment.
In recent years, major players in the super abrasive market have taken several strategic measures, such as facility expansions and partnerships. In June 2019, 3M proclaimed to joint venture with Diamond Productions Inc. to strengthen their stone formulating procedure. The collaboration helped both the companies to expand their stone, concrete and marble to hard-to-grind dimension products.
The objective of the report is to present a comprehensive analysis of the Global Super Abrasive Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
For more information of visit:https://www.maximizemarketresearch.com/market-report/global-super-abrasive-market/63677/
Global Super Abrasive Market, By Product
• North America
This Report Is Submitted By : Maximize Market Research Company
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About the Authormanisha
Joined: June 26th, 2020
Articles Posted: 99
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