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A single crystal superhard material possesses a hardness value exceeding 40 gigapascals when measured by the Vickers hardness test. These materials are extremely incompressible solids with high bond covalence and high electron density. Thus, these materials are widely utilized in a range of industrial areas including polishing, abrasives, cutting tools, and protective and wear-resistant coatings. Single crystal superhard materials are manufactured in high-temperature and high-pressure conditions by enhancing energy and using inexpensive raw materials. Different end products of these materials include cemented carbides, tool steels, ceramics, and diamond. Cement carbide is the most utilized end product in industrial end users such as machining of hard materials like carbon steel and stainless steel.
Growth in population and increased industrial activities augment the demand for power worldwide, which drives the global single crystal superhard materials market as these materials are used in power generation and production of alternative energy. Rapid growth of the mining industry is further expected to affect the market positively. Single crystal superhard materials can shape and scratch any object, and are therefore used in a broad array of industrial end users such as turning, cutting, grinding, boring and drilling, which is anticipated to boost the growth. However, rise in use of composite superhard materials and volatile raw material prices may hamper the market growth. Although increase in demand from emerging economies, such as Asia-Pacific and LAMEA, pose lucrative opportunities in the near future.
The global single crystal superhard materials market is segmented based on type, end user, and geography. On the basis of type, the market is divided into diamond, cubic boron nitride, and others. On the basis of end user, it is classified into aerospace, alternative energy, automotive, chemical processing, mold, die, infrastructure, electronics, general machining, construction, oil & gas, mining, shipbuilding, railroads power generation, paper & pulp, and others. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market focus on key market strategies, such as mergers, acquisitions, collaborations, and partnerships, to strengthen their market reach and maintain their position in the competitive market.
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