Global Superhard Materials Market is anticipated to grow at a positive CAGR in the forthcoming period. Superhard materials are those materials that display a class of superiority and mechanical performance, toughness, wear resistance and incompressibility which can be used extensively in wide range of applications. Thus, applications ranging from polishing tools and cutting activities in the machinery industry in milling and petrochemical industry encompass as driving force for market growth for superhard materials market.
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From the commercial point of view, diamond and cubic boron nitride that mass produced are best known to be superhard materials. However, both of these are known to display limitations such as inferior thermal stability and low hardness and fracture toughness. Overall, synthesizing superhard materials resulting into improved performance, hardness, toughness and thermal stability are highly desired.
Driving factors responsible for the growth of superhard materials market include extensive demand for Superhard Materials in manufacturing operations. Also, the rise in demand from petroleum industries in the APAC region and growth in infrastructure and construction activities are expected to boost the market growth.
Segmentation for superhard materials based on group includes composite superhard materials, monocrystalline super hard and superhard materials & tools. Segmentation based on applications for superhard materials market include coatings, cutting tools, general medicine, semiconductor assembly, wear parts polishing stones, construction composite, polycrystalline tools, abrasives and subsystem components.
Based on segmentation by type, the superhard materials market include cubic boron nitride and diamond. Based on end-user segmentation, the superhard materials market include aerospace, chemical processing, automotive, die, mold, electronic, infrastructure, construction, general machining, oil & gas, shipbuilding, paper and pulp sectors and railroads power generation.
Geographically, Superhard Materials Market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. APAC regions are expected to grow at a higher CAGR in the forthcoming period and a heavy consumer for superhard materials owing to presence of manufacturing base and artificial diamonds. North America and Europe market is also expected to gain a trajectory growth in the forthcoming period.
The key players in the superhard materials market include Sumitomo Electric Industries Ltd, ILJIN, Zhongnan Diamond Co Ltd, Element Six, Whirlwind, SF Diamond, Funik Ultrahard Material Co Ltd, Sandvik Group, Zhengzhou Sino-Crystal Diamond Co Ltd.
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