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The global super-hard materials market stood at a value of around USD 6.28 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.7% to reach about USD 10.33 billion by 2032.
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As micron diamond is tough and has a high wear resistance, it is ideal for various industrial applications, such as cutting, drilling, polishing, grinding, etc., which is driving the market growth. It can effortlessly grind and polish hard alloys, ceramics, gems, and optical glass, among others, due to which its demand is significantly increasing. In addition, the growing use of micron diamond powder by major ceramic manufacturers is likely to aid the segment growth. The rising demand for precious stones in the jewellery industry is expected to further boost the demand for micron diamond, which is anticipated to propel the market for super-hard materials in the forecast period.
The super-hard materials industry in the Asia Pacific is driven by the rapid expansion of various end-use sectors in the region, including oil and gas, chemical and petroleum, automotive and transportation, and building and construction, among others. The market growth can also be attributed to the rising population, the increasing disposable incomes, the introduction of favourable government policies for the manufacturers, rapid urbanisation, and infrastructure development. Moreover, the increasing foreign direct investment in countries like India is likely to accelerate various development projects, thereby propelling the demand for super-hard materials.
super-hard materials are defined as extremely hard materials with hardness reaching more than 40 gigapascals. These highly tough materials are incompressible and deliver high mechanical performance. super-hard materials find their applications in major industries like electronics, construction, and petrochemicals, among others.
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Based on type, the market can be bifurcated into:
The different products of super-hard materials are as follows:
The market, based on form, is segmented into:
The major end uses of super-hard materials include:
The EMR report looks into the regional markets for super-hard materials like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The rising application of super-hard materials in the building and construction industry is driving the market. This can be attributed to the high strength and wear-resistance of the materials that stabilise the structure, keeping it safe from earthquakes, tsunamis, and other natural calamities. Over the forecast period, the utilisation of super-hard materials in residential and commercial constructions is likely to boost the market growth in the forecast period. Although the high cost of some super-hard materials such as diamond is likely to impede the market, the rising demand for super-hard materials in drilling, quarrying, and mining is anticipated to provide impetus to the growth of the market. Further, the increasing interest in renewable resources is predicted to further fuel the industry growth in the coming years.
The report gives a detailed analysis of the following key players in the global super-hard materials market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Product |
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Breakup by Form |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global super-hard materials market attained a value of nearly USD 6.28 billion.
The market is estimated to grow at a CAGR of 5.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 10.33 billion by 2032.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the rising application of super-hard materials in various end use industries and rapid infrastructural development in the emerging economies.
The growing R&D activities and technological advancements in the electrical and electronics industry are expected to drive the growth of the industry.
Intrinsic and extrinsic are the major types included in the market.
Micron diamond, polycrystalline diamond (PCD), cubic boron nitride (CBN), and polycrystalline cubic boron nitride (PCBN) are the different products of super-hard materials.
The various forms of super-hard materials are monocrystalline, polycrystalline, and composite, among others.
Automotive and transportation, building and constructions, chemicals and petrochemicals, drilling, mining, and quarry, and electrical and electronics, among others, are the significant end uses of super-hard materials.
The major players in the industry are ILJIN Diamond Co., Ltd., SF Diamond Co. Ltd., Henan Yalong Superhard Materials Co., Ltd., and Element Six (UK) Ltd., among others.
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