The global superhard materials
market has been spanned across five regions, namely, ASIA-Pacific, North
America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific held the largest and
the fastest growing market for superhard materials in 2017. China and India are
the major contributors for the growth of product market in this region. The
demand for superhard materials from automotive and constructing industries has
been surging due to the rising usage of these materials in transportation
vehicles, cars, and construction sites. Superhard materials offer high
compression strength, shear resistance, and high resistance to chemicals. This
makes it desirable for use in these end-use industries. The regional market is
expected to show strong growth in the global superhard materials market in the
review period.
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North America held the second
largest share in the global superhard materials market. The rising disposable
income in this region has attributed to the growing sales of automotive in this
region, thus leading to the growth of automotive industry. The growing
automotive industry and construction industry in this region are fueling the
growth of superhard materials market. This growth is expected to continue in
the forecast period due to the growing demand for superhard materials in these
end-use industries.
European market is projected to
grow at a faster pace in the review period. Owing to the unique properties
offered by the superhard materials such as high melting temperature and high
thermal resistance, the demand for superhard materials has escalated in the
electrical & electronics industry. It also has widespread application in
automotive and petrochemical industry. Growing electrical & electronics
industry, automotive industry in this region are driving the superhard
materials market in this region.
Latin American market is expected
to grow at a moderate pace during the review period. The factors
attributing to the growth of superhard materials market in this region are the
growing use of superhard materials at mining sites, and in manufacturing
equipment in the industries. Thus, the growing manufacturing activities and
rising demand for industrial sector would boost the superhard materials market
in this region in the coming years.
The Middle East & Africa
market is expected to show steady growth in the global superhard materials
market, due to the surging demand for superhard materials from drilling sites,
and storage tanks, and processing equipment in petrochemical industry.
Key Players:
Sumitomo Electric Industries Ltd
(Japan), Element Six (Luxembourg), Sandvik AB (Sweden), Iljin Diamond (South
Korea), Henan Huanghe Whirlwind Co Ltd (China), SF Diamond Co Ltd (China),
WorldWide Superabrasives LLC (China), Henan Yalong Superhard Materials Co. Ltd
(Japan), Funik Ultrahard Material Co. Ltd (China), CR GEMS Superabrasives Co.
Ltd (China), and Anhui Hongjing New Materials Co. Ltd (China) are among the
prominent players operating at the forefront of global superhard materials
market.
Market Segmentation:
The global superhard
materials market has been categorized on the basis of type, form,
end-users and region.
On the basis of type, global
superhard materials market has been segmented into diamond, cubic boron
nitride, and others.
Based on form, the global
superhard materials market has been divided into monocrystalline,
polycrystalline, and composite.
The market has also been
segmented on the basis of end-users into transportation, building &
constructions, chemical, oil & gas, mining, electrical & electronics,
and others.
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