Super-Hard Materials Market growth trends for mechanical tools & industrial appliances, forecast by 2017 to 2024
Global Super-Hard Materials Market size is expected to grow at a moderate rate from 2017 to 2024 due to its use in various industrial appliances such as cutting tools, abrasives, grinding, wear-resistant coatings, and other protective coatings.
They can shape and scratch any object and so they are employed in many industrial operations such as turning, cutting, boring, drilling, grinding, etc. Super-hard materials market will be boosted by the product use in budding industries such as chemical processing and automotive.
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Global chemical sales in 2013 was around USD 5 trillion and has been increasing at almost double rate in the last decade. Automotive industry is also expected to grow at a favorable rate during this period. This will augment the super-hard materials market since the product is extensively used in this industry.
Regionally, Global Market Insights, Inc.’s Super-Hard Materials market research has the most in-depth, country focused estimates and forecasts for decision makers across the globe. An exhaustive list of company profiles for organizations active in the Super-Hard Materials market supports the regional analysis and information offering a competitive outlook on the industry. For each segment analyzed in this research, whether it is by product, application, material or end-use, a regional overview with historical data and Super-Hard Materials market forecast is provided to the reader. Such a cross-segmentation research analysis is also unique to reports by Global Market Insights, Inc.
By product types, super-hard materials market is segmented as diamond, cubic boron nitride, and other materials such as carbon nitrides, metal borides, boron sub oxide, etc. Diamond is an extremely hard material with high thermal conductivity and electrical insulation. Due to wide property variations among natural diamonds, synthetic diamonds became popular and are widely used for many applications.
Super-hard materials market is segmented according to product as monocrystalline, polycrystalline, and composite materials. Monocrystalline materials include diamond and cubic boron nitride and occupies a substantial share of the super-hard materials market. Composite materials include clad sheet for cutting tools, clad sheet for oil and gas, wire drawing and clad sheet die blanks used for mining.
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Asia Pacific, North America, Europe, Middle East & Africa and Latin America are the five regions that the super-hard materials market has been segmented. Asia Pacific is a significant market for the product owing to growing chemical processing, automobile and construction industries in this region.
North America and Europe super-hard materials market also has a substantial share and this is likely to increase owing to high growth in power generation, electronics and transportation industries. Latin America and Middle East & Africa market for the product will likely increase at a healthy rate due to improving economic condition of people in these regions are fuelling the growth of construction, automobile and chemical processing industries.
Key players in super-hard materials market are Zhengzhou Sino Crystal Diamond Company, Zhongnan Diamond Company, Henan Huanghe, SF Diamond Bosun Tools, Zhengzhou New Asia Superhard Material Composite Company, Henan Yalong Diamond Tools Company, KingDream Public, Sumitomo Electric Industries, Sandvik Group, Shenzhen Haimingrun Industrial Company, Advanced Technology & Materials Company, Monte Bianco Diamond Applications Company, King strong Material Engineering, CR Gems Diamond Company, Funik Ultrahard Material Company.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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