Super Abrasives Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Market

Super Abrasives Market Outlook - 2027

Super abrasives are important materials used in the manufacturing industry. It manufactures different kinds of machining products. These super abrasives are generally used as a substrate to make machining products. Super abrasives are used in various forms, such as coarse particles, powders, and grits, to bind a tool. Variety of materials, such as wire dies, cubic boron nitride, and diamond, are used in the manufacturing industry as super abrasives materials. Besides the manufacturing industry, super abrasive materials are also used in other industries.

COVID-19 scenario analysis:

• The demand for super abrasives is expected to decrease in 2020 due to low demand from different industries, such as manufacturing and automotive, owing to the lockdown imposed by governments of many countries.
• COVID-19 pandemic has shut-down the production of various products in the super abrasives industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of super abrasives market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries, including the U.S., Germany, Italy, the UK, and China, which have been badly affected by the spread of corona virus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

There are different products included in the super abrasives market. These products are used to shape the surfaces and grind materials for design. Work piece materials, wear parts, and tools are included in these product categories. Different products, such as wire dies, cubic boron nitride, and diamond, are known as super abrasive materials. Ultra precision machining of wires, such as stainless steel, nickel, aluminum, and bronze, which are non-ferrous wires is done by using wire dies. Synthetic diamond, which is a type of diamond, is also used as super abrasive materials. 

Diamond is the hardest mineral amongst all minerals. It is a form of carbon. Diamond can be used in a variety of applications such as high precision grinding equipment, car body work, grinding wheels, and for cutting of stones & concrete. Along with industrial applications, diamond is also used in jewelry application. Diamond has cubic crystalline structure and can be used in a variety of applications. Therefore, the demand for diamond as a super abrasive material is expected to rise during the forecast period. Chemical vapor deposition (CVD) and high pressure high temperature (HPHT) are processes that are used to manufacture synthetic diamond. The wear rate of super abrasive material is very low and the requirement of wheel change is also less compared to conventional abrasives. This could be the important driving factor for the growth of the super abrasives market.   

The number of manufacturing industries in countries from the Asia-Pacific region, such as India and China, are increasing rapidly. Proper finishing of the manufactured component is a crucial process for which grinding is required. Super abrasives are widely used in the grinding wheel. Therefore, the Asia-Pacific region is considered as an important region for the growth of the super abrasives market.  

Manufacturing companies are increasing in different countries across the world. Super abrasives are very important for the manufacturing sector as these are used for various applications. This could be the key driving factor for the growth of the super abrasives market. Furthermore, the use of diamond as an abrasive material in manufacturing of grinding wheel provides additional advantage as diamond is a very strong mineral. Therefore, grinding wheels also become strong and the chances of wear of wheel get reduced. This is expected to increase the use of diamond as a super abrasive material during the forecast period.

Key restraining factor for the growth of the super abrasives market

The cost of diamond is high compared to other materials. When the diamond is used as super abrasive in the manufacturing of the grinding wheel, the cost of the wheel also increases. Therefore, many manufacturers prefer conventional abrasives. This could restrain the growth of the super abrasive market.   

Key benefits of the report:

• This study presents the analytical depiction of the super abrasives market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the super abrasives market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed super abrasives market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Super Abrasives Market: Global Opportunity Analysis and Industry Forecast, 2020-2027 Report Highlights