The global superhard materials market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Rising demand for superhard materials for cutting, drilling, boring, and grinding applications in manufacturing industries is expected to drive market revenue growth over the forecast period. Increasing application of these materials in various end-use industries, such as automotive, construction, transportation, chemical, electronics, etc., is another major factor expected to contribute to revenue growth of the market.
Superhard materials are materials with a hardness value of more than 40 gigapascals (GPa), according to the Vickers hardness test. They are incompressible solids with high electron density and high bond covalency. These highly elastic materials possess high thermal conductivity and mechanical strength, which make them best suited for industrial applications. Urbanization and rapid expansion and development of manufacturing industries across the globe are boosting market revenue growth. Increasing demand for cutting tools and machinery in various industries, such as automobiles, construction, mining, oil gas, chemical, and aerospace industries, is leading to rise in demand for and adoption of superhard materials globally.
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Top Players in the Global Superhard Materials Market:
Element Six, Sandvik, ILJIN Diamond, Zhongnan Diamond, Huanghe Whirlwind, JINQU Superhard, Sumitomo Electric Industries, FUNIK, SF Diamond, Saint-Gobain, Zhengzhou Zhong Peng, Besco Superabrasives, Henan Yalong Superhard Materials, CR GEMS, and Anhui HongJing.
Some well-known applications of superhard materials are: cutting wear-resistant tools and machinery, semiconductor fabrication, protective coatings, abrasives, polishing, etc. These materials can be widely used in cutting, drilling, turning, boring, and grinding applications in manufacturing industries, due to their ability to shape and scratch any object. Another major application of these materials is in the production of alternative energy. Major players operating in the market are focusing on increasing production of quality products to meet rising demand from different industries.
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Market segmentation based on Type Outlook:
- Automotive Transportation
- Building Construction
- Chemicals Petrochemicals
- Drilling, Mining Quarrying
- Electrical Electronics
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Superhard Materials market over the forecast period?
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- Which regional market is expected to lead in terms of revenue share in the global Superhard Materials market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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