COVID-19 Analysis on Super Abrasives Market, Development Trends, Key Manufacturers and Competitive Analysis 2023

Super Abrasives Market Analysis 

The global super abrasives market is projected to touch USD 1.4 billion at a 6.57% CAGR between 2017-2023, reveals the new Market Research Future (MRFR) report. Super abrasives, simply put, are materials that are utilized for precision grinding and also offering useful properties like high thermal conductivity, better surface finishing, compression strength, and high abrasive strength. Based on its higher thermal stability, its shelf life is longer, thereby making it preferable over their conventional counterparts. Owing to its alluring features, super abrasives have wide applications in primary metal, medical, gear, turbines, powertrain, bearings, electronics/smartphones, machinery, tool industry, cutting tools, and others. 

Numerous factors are adding to the global super abrasives market demand. Such factors, as revealed by the latest MRFR report, include heightened demand from electronics, automotive, and medical industries, shifting consumer preference to super abrasives from traditional abrasives owing to its durability and superior properties, rapidly growing automotive industry, and growing research and development efforts. Additional factors adding market growth include high disposable income, changing lifestyle trend, increasing use in the processing and production of windshield glass and mirrors, rubber and tires, suspension systems, steering, brakes, and engines, modernization in the auto industry to develop high performance customized engines, and stringent government regulations to reduce carbon dioxide emission and protection of environmental health in China, India, and the US. 

On the contrary, the high price of super abrasives, fluctuations in raw material prices, limited understanding of consumer needs, and lack of expertise may limit the super abrasives market growth over the forecast period. 

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Super Abrasives Market Segmentation

The Market Research Future Report provides an inclusive segmental analysis of the super abrasives market based on application and type. 

By type, the super abrasives market is segmented into stationary dressers, rotary dressers, electroplated CBN, electroplated diamond, metal/hybrid bond diamond, metal/hybrid bond CBN, resin bond CBN, resin bond diamond, vitrified CBN, and vitrified diamond. 

By application, the super abrasives market is segmented into primary metal, medical, gear, turbines, powertrain, bearings, electronics/smartphones, machinery, tool industry, cutting tools, and others. 

Super Abrasives Market Regional Analysis

By region, the global super abrasives market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), Latin America, & the Middle East and Africa (MEA). Of these, the APAC region will have the lions share in the market over the forecast period for the increasing production as well as sales of automotive in India, Japan, and China and growing precision tooling market. 

The global super abrasives market in North America is predicted to have significant growth over the forecast period for the reviving automotive sector. The US is a key contributor in the region for the growing demand for cars that are driving the need for CBN that in turn, is boosting the market growth. 

The global super abrasives market in Europe is predicted to have healthy growth over the forecast period for the increasing trade and manufacturing of auto parts in the region. 

The global super abrasives market in Latin America and the MEA is predicted to have stable growth over the forecast period. 

Key Players 

Notable players profiled in the global super abrasives market report include VSM Abrasives Corporation (Germany), Zhengzhou Hongtuo Super Abrasive Products Co., Ltd (China), SUPER ABRASIVES (India), TOYODA VAN MOPPES LTD. (Tokyo), Tyrolit Schleifmittelwerke Swarovski K.G. (Austria), KREBA & RIEDEL (Germany), Meister Abrasives (U.S.), Noritake (Japan), Carborundum Universal Limited (France), 3M (U.S.), and Saint Gobain (France). Industry players have incorporated strategies such as extensive research and development activities, strategic alliances, mergers and acquisitions, joint ventures, new product developments, and collaborations to stay ahead in the competition and also cater to consumers growing needs. 

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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