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Superhard Materials Market, Will Witness Tremendous Growth Over the Forecast Timeframe

Author : Rahul Varpe | Published Date : 2019-06-11 

Superhard Materials Market have a broad scope of application including building & construction, automotive, defense, machine building, drilling, metal working, surgery and other industries. Growth in automobile industry will flourish the superhard material market by the end of forecast timeframe. According to OICA, total automotive production in China was registered nearly 29 million units with 3.19% increase from 2017. This growth trend will boost the product demand till 2025.

Growth in manufacturing industry in Asia pacific will boost product market by the end of 2025. According to World Bank Statistics, Singapore?s manufacturing industry gross domestic product increased from 17.3% in 2013 to 18% in 2017. Moreover, South Korea manufacturing sector GDP increased from 26.7% in 2016 to 27.5% in 2017. Such growth in the manufacturing sector will increase the product demand in coming years.

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According to a new research report by Global Market Insights, Inc. Superhard Materials Market size will surpass USD 6.5 billion by 2025.

Superhard materials are considered as endorsed product in building & construction industry. These materials are used to manufacture grinding, polishing and cutting tools for machining glass, reinforced concrete, natural stone, woods, ceramics, semiconductor materials, and metals. Brazil building & construction industry will reach USD 210 billion till 2025. In 2017, Brazilian government invested around USD 14.4 billion in the country?s airports, roads, energy and port?s infrastructure under Infrastructure Concessions Program which will further enhance the product demand in upcoming years.

According to product type, superhard materials market is fragmented into CBN and diamond. The other niche materials include alloys, titanium nitrides, boron nitrides, etc. Diamond will generate revenue of nearly USD 3.5 billion in 2025. They are used as tracer styli for surface measurement instruments, as diamond gramophone needles with high polish and gloss for optimum performance, for drawing dies, and many other applications, including spade drills for drilling holes, etc.

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According to form type, the market is classified into composite, monocrystalline and polycrystalline. The other niche forms include slurry, micron powder, etc. Polycrystalline superhard materials will generate revenue of around USD 3 billion in 2025 and will grow at a considerable rate. Monocrystalline segment will lose its share to polycrystalline over the time period owing to the latter?s better surface finish and high removal rates.

North America market, led by the U.S, will account for one-third of superhard materials market share. Improving economy, escalating manufacturing activities and ensuing rise for machine tools demand in various industrial operations will flourish superhard material market in coming years.

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Major players for superhard material market include Zhengzhou Zhong Peng, SF-Diamond Huanghe Whirlwind, Element Six, Sandvik, Zhongnan Diamond, Anhui HongJing, Yalong Superhard Materials, and JINQU Superhard.

Read More @ https://www.marketwatch.com/press-release/Aluminum-Alloys-Market-Expected-To-Grow-At-A-Highest-CAGR-Over-The-Forecast-Timeframe-2019-06-10

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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