Super Abrasive Market

Super Abrasive Market Size by Material Type [Diamond and Cubic Boron Nitride (CBN)], Application (Powertrain, Bearing, Gear, Tool Grinding, Turbine and Others), End-User Industry (Aerospace, Automotive, Medical, Electronics, Oil & Gas and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14581
  • Published Date: Nov, 2024
  • Pages: 239
  • Category: Chemicals & Materials
  • Format: PDF
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The global super abrasive market was valued at USD 6 billion in 2023 and growing at a CAGR of 6.50% from 2024 to 2033. The market is expected to reach USD 11.26 billion by 2033. Super abrasives are used in many industries, such as automotive, semiconductor, and construction. They are used in the automobile industry because they require high-precision components, which can be made durable with the help of these super abrasives. In addition, super abrasives are also used in the construction industry. The construction industry is growing very fast in developing regions, which is increasing the demand for super abrasives. Super abrasives can also be used in building maintenance work.

Market Introduction:

Super abrasives are hard materials used for grinding, cutting, shaping and polishing other materials. Super abrasives are harder than conventional abrasives. This is why these super abrasives are used to handle hard materials. The cutting speed of super abrasives is very fast, which helps industries to increase their productivity. Super abrasives provide smooth surfaces. This is possible because super abrasives are very fine, and their edges are very sharp and due to this they are able to provide smooth surfaces. Tools made from super abrasives have a very long life. This does not cause downtime in production and there is no need to replace the tool before time. This can save companies from losses, and it will benefit them in the long run.

Super Abrasive Market Size

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Recent Development
  • For instance, in February 2019, Sak Abrasives Inc. announced the acquisition of Buffalo Abrasives. This acquisition will help Sak Abrasives Inc. expand its manufacturing capabilities and increase its global reach.

Market Dynamics:

Drivers

Increasing Demand from Manufacturing and Metalworking Industries- Super abrasive is widely used in the manufacturing and metalworking Industries, so its demand is constantly increasing. The main reason for this is the properties of super abrasives, which differentiate them from traditional abrasives. Now, industries pay more attention to providing a smooth finish to the end product, and they can do this with the help of super abrasive material. Super abrasives are capable of providing high-precision grinding and finishing. Due to super abrasives, industries can use more durable and hard materials. Ceramics, alloys and composites are materials on which traditional abrasives do not work effectively. The use of super abrasives also reduces the machine's energy consumption, increases the industry's productivity, and reduces expenses.

Restraints:

High Cost of Super Abrasive Materials- The cost of Super Abrasive is high, which is why many small manufacturers are unable to purchase it, so they are left behind. Because due to the high cost, their profit margin will decrease, due to which they will not be able to expand their business. Due to this, small players may adopt conventional abrasive, which will lead to a decline in the growth of the super abrasive market. This high price will affect the underdeveloped countries the most. Manufacturing and metalworking industries in these regions try to maximize their efficiency at the lowest cost. Due to this high cost, the market growth in these regions will slow down, due to which, in the future, these regions will show interest in investing in or adopting any advanced solutions.

Opportunities:

Technological Advancements in Super Abrasive Materials - Technological advancements can create opportunities for the super abrasive market, further increasing its growth in the coming years. Manufacturers can increase the life of super abrasive tools and improve their performance and durability with the help of technological advancements in coatings. Due to these advanced coatings, super abrasives can be used in high-temperature applications. This advancement will also decrease the wear and tear of super abrasives and increase their efficiency. Apart from coating, manufacturers can also improve bonding technology. This will strengthen the bonding between abrasive particles and tools, increasing their life. The user will not need to change the tool frequently, reducing operational costs and increasing industry productivity.

Challenges:

Intense Competition from Conventional Abrasives - Conventional abrasives are cheaper to produce than super abrasives. The materials used to make conventional abrasives are easily available everywhere, so manufacturers do not need to increase costs. The process of making them is also less expensive, which benefits the manufacturers. Developing countries mostly use these conventional abrasives because their industries want to produce products using cost-effective technology so that their profit margin can increase, they can expand their business, and they can remain in the market for a long time. Conventional Abrasives can also be used with standard machines. This does not require the manufacturers to change their existing machines, which saves their costs.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia pacific emerged as the largest market for the global super abrasive market, with a 53.79% share of the market revenue in 2023.

The Asia Pacific region will account for the largest market share with revenue growth. Many underdeveloped countries in the Asia Pacific are the manufacturing hubs of industries. So, due to this, super abrasives are used the most in this region, and the demand for them remains high. Due to this, the countries of this region can finish their products properly and increase production speed. Along with this, the governments of these countries are also making full efforts to develop the industries. They make many policies to develop the infrastructure of the industries and make investments so that the industries can grow. The industries can buy new technologies, machines and equipment through these policies and investments. It is very cheap to produce super abrasives in Asia Pacific regions because the labour cost here is very low, making it easy to control the product's price.

Asia Pacific Region Super Abrasive Market Share in 2023 - 53.79%

 

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Material Type Segment Analysis

The material type segment is divided into diamond and cubic boron nitride (CBN). The diamond segment dominated the market, with a market share of 54% in 2023. Diamond is the hardest material. Its hardness makes it ideal for applications such as grinding, cutting, finishing, and polishing. Diamonds can be easily used on hard materials such as glass, ceramics, and composites. It can also be easily used on materials such as aluminium and copper. Due to its high hardness, diamond tools need not be replaced frequently. Another feature of diamonds is that they do not react with chemicals, which makes them suitable for applications on surfaces where chemicals are used.

Application Segment Analysis

The application segment is divided into powertrain, bearing, gear, tool grinding, turbine and others. The tool grinding segment dominated the market, with a market share of 21.78% in 2023. For tool grinding, materials with high tolerances and can provide accuracy are used. Super abrasives have these qualities and can also provide a smooth surface finish. Due to these qualities, it proves beneficial for the end user to use super abrasives in the long run because they have a longer life and do not have to be replaced frequently.

End-User Industry Segment Analysis

The end-user industry segment is divided into aerospace, automotive, medical, electronics, oil & gas and others. The automotive segment dominated the market, with a market share of 23.69% in 2023. Super abrasives will be used the most in the automotive sector because many vehicle components are made of hard materials, and super abrasives are used to cut and finish those materials. At the same time, due to the increasing vehicle demand, the automotive sector's growth will continue to increase. Safety is given a lot of attention in the automotive sector, and high-quality tools are also used for this.

Some of the Key Market Players:
  • 3M Company
  • Sak Abrasives Inc.
  • Saint Gobain
  • Noritake Co. Limited
  • Asahi Diamond Industrial Co., Ltd.
  • CUMI
  • KURE GRINDING WHEEL
  • Gunter Effgen GmbH
  • Dr.Kaiser
  • ZHUHAI ELEPHANT ABRASIVES CO., LTD.
  • Super AbrasivesIndia
  • VSM AG
  • Protech Diamond Tools Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 6 Billion
Market size value in 2033 USD 11.26 Billion
CAGR (2024 to 2033) 6.50%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Material Type, Application, End-User Industry

Frequesntly Asked Questions

As per The Brainy Insights, the size of the super abrasive market was valued at USD 6 billion in 2023 to USD 11.26 billion by 2033.

The global super abrasive market is growing at a CAGR of 6.50% during the forecast period 2024-2033.

The Asia Pacific region emerged as the largest market for the super abrasive.

Increasing demand from manufacturing and metalworking industries will influence the market's growth.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global super abrasive market based on below-mentioned segments:

Global Super Abrasive Market by Material Type:

  • Diamond
  • Cubic Boron Nitride (CBN)

Global Super Abrasive Market by Application:

  • Powertrain
  • Bearing
  • Gear
  • Tool Grinding
  • Turbine
  • Others

Global Super Abrasive Market by End-User Industry:

  • Aerospace
  • Automotive
  • Medical
  • Electronics
  • Oil & Gas
  • Others

Global Super Abrasive Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
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    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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