Cubic Boron Nitride Market Forecast 2016 - 2024

Cubic boron nitride (CBN) is a synthetically manufactured material, which is second to only diamond in hardness. One of its common synthesis processes is direct conversion of hexagonal boron nitride to CBN by treating at high pressure and temperature. CBN abrasives possess characteristics that exceed the values of conventional abrasives; for example, high strength and hardness, resistance to chemicals, heat, and abrasion; and ability to maintain the sharp cutting edges during use.

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The report estimates and forecasts the cubic boron nitride market on the global and regional levels. The study provides forecast between 2016 and 2024 based on volume (tons) and revenue (US$ Mn) with 2015 as the base year. The report comprises an exhaustive value chain analysis for each of the segments. It provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the cubic boron nitride market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the cubic boron nitride market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources. Furthermore, the report analyzes substitute analysis of cubic boron nitride and global average price trend analysis.

The report includes Porter’s Five Forces Model to determine the degree of competition in the cubic boron nitride market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users and regions have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report comprises price trend analysis for cubic boron nitride between 2016 and 2024.

Global Cubic Boron Nitride Market: Segmentation

The study provides a comprehensive view of the cubic boron nitride market by dividing it into product, application and geography segments. The products have been segmented into inserts, wheels, mesh and powder. The applications are segmented into raw abrasives, coatings, cutting & grinding, lapping & polishing, and others. These segments have been analyzed based on historic, present, and future trends. Regional segmentation includes the current and forecast consumption of cubic boron nitride in North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA). Market segmentation includes demand for consumption in all the regions individually.

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The product segment includes compounds of strontium such as inserts, wheels, mesh, and powder. Inserts are widely and predominantly used in cutting and grinding processes. Their shape, size, and content of CBN is determined by the processes in which they are expected to be employed. Powder is used as a raw material for manufacturing bonded abrasives, coated abrasives, polishes, cleaners, abrasive tools, grinding pastes, and other abrasive products. The application segment includes raw abrasives, coatings, cutting & grinding, lapping & polishing, and others. CBN is an extremely hard material and hence widely used as an abrasive, specifically in high-temperature applications. It is also widely used to coat a grinding wheel for fine grinding and lapping applications. Since the cutting and grinding of hardened and carbide steel is difficult, CBN powder or mesh, in the form of a coated surface over a grinding or polishing wheel, is used to perform finishing processes such as polishing, grinding, and lapping.

CBN is a synthetic material produced by treating hexagonal boron nitride (hBN) at high pressure and temperature. This process is similar to the production of synthetic diamond from graphite. The pressure range required for the process is high; however, this range can lowered by addition of boron oxide during the reaction. Sometimes, catalysts such as lithium, potassium, or magnesium and their nitrides and/or fluoronitrides are also required. To avoid growth of hexagonal phases or structures during explosive shock wave method or crystal growth in a temperature gradient method, boron trifluoride is added. These factors make the CBN manufacturing process expensive, which can act as a restraint to the market. Use of CBN has been increasingly recognized in ‘tool and cutter’ grinding applications as well as mass production grinding operations carried out in industries such as automotive, general engineering, and aerospace. CBN tools are more advantageous in comparison to traditional abrasives, which acts as a driver for the CBN market.

Global Cubic Boron Nitride Market: Research Methodology

Secondary research sources that were typically referred to include, but were not limited to, European Powder Metallurgy Association (EPMA), Metal Finishing News (MFN), Unified Abrasives Manufacturers' Association (UAMA), Federation of the European Producers of Abrasives (FEPA), company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.

In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.

Global Cubic Boron Nitride Market: Competitive Analysis

The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include 3M, Saint-Gobain, Element Six, NanoDiamond Products, Sandvik AB, Tomei Diamond Co. Ltd., Show Denko K.K., ILJIN Diamond Co. Ltd., and Asahi Diamond Industrial Co. Ltd. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).

The global cubic boron nitride market has been segmented as follows:

By Product

Inserts
Wheels
Mesh
Powder

By Application

Raw Abrasives
Coatings
Cutting & Grinding
Lapping & Polishing
Others

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