Market Overview:
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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