The super abrasives market is expected to witness significant growth, at an estimated CAGR of over 9% over the forecast period. The major factors driving the market are CNC machines replacing old technologies and conventional abrasives substituted by super abrasives.
– Based on the end-user industry, the electronics segment dominated the market, followed by automotive and aerospace.
– Asia-Pacific dominated the market, holding a share of almost 50%. This is primarily due to the rising demand from the electronics and automotive industries.
– The diamond segment dominated the market, holding a share of almost 70%.
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Key Market Trends
Electronics Industry to Dominate the Market
– Super abrasives find various applications in the electronics industry. This is because of the type of materials that the super abrasive tools are capable of processing. The tools can be used to process semiconductor materials, ceramics, carbide alloys, copper and copper alloys, aluminum, resin, and rubber, all of which are majorly used in electronic component manufacturing.
– Printed Circuit Boards (PCBs) are the key elements for many electronic devices, like desktop computers and home theater systems, among others. Super abrasive grinding tools are largely used for the creation of PCB’s in the electronics industry.
– Super abrasives in the electronics industry provide consistent slicing performance, uniform diamond counts, uniform wire diameter, and even diamond distribution, and no diamond clustering.
– Asia-Pacific and European regions are expected to be the key driving regions for the consumption of super abrasives during the forecast period.
Asia-Pacific Region to Dominate the Market
– The Asia-Pacific region dominated the super abrasives market. Owing to the demand for electronics in countries, such as China, India, and Japan, the demand for super abrasives in the manufacturing processes is also increasing in the region.
– China has the world’s largest electronics production base. Electronic products, such as smartphones, OLED TVs, tablets, wires, and cables, recorded the highest growth in the electronics segment. The country not only serves the domestic demand for electronics but also exports electronic output to other countries.