Global Super Hard Materials Market growing at a CAGR of 5.5% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Jul 2023
Key Market Overview
Consegic Business Intelligence analyzes that the super hard materials market is predicted to grow at a compound annual growth rate of 5.5% from 2023 to 2030 and is expected to reach USD 9,017.83 million in 2030 which was valued at USD 5,910.83 million in 2022.
The report highlights the increasing adoption of super hard materials in building & construction projhects, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the super hard materials market.
Global Super Hard Materials Market By Overview
The super hard materials market is bifurcated into type, form, and application. Based on product type the market is segmented into diamond, cubic boron nitride, and others, in 2022, the diamond segment dominate in the overall super hard materials market. The form segment is categorized into monocrystalline, polycrystalline, and composite. In 2022, the monocrystalline segment accounted for the highest market share in the super hard materials market. The end-use industry segment is categorized into aerospace, building and construction, chemicals and petrochemicals, mining, electrical and electronics, and others. In 2022, the building and construction segment accounted for the highest market share in the super hard materials market.
Get Free SampleMarket Dynamics
Driver:
- Booming building and construction activities at the global level are spurring the growth of the global super hard materials market.
- The rising adoption of super hard materials in the electrical and electronics industry is driving the super hard materials market growth.
Restraints:
- The high cost of super hard materials is restraining the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Product Type | Diamond, Cubic Boron Nitride, and Others |
| By Form | Monocrystalline, Polycrystalline, and Composite |
| By End-use Industry | Aerospace, Building and Construction, Chemicals and Petrochemicals, Mining, Electrical and Electronics, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
As per the study, the market is dominated by certain major companies such as Element Six, ILJIN Diamond, Huanghe Whirlwind, and SF Diamond which have a strong market position in current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more durable, ensure superior functioning, and others. Furthermore, the super hard materials market is expected to witness substantial growth in the coming years due to the growing investment in commercial projects in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Element Six
- ILJIN Diamond
- Huanghe Whirlwind
- SF Diamond
- Besco Superabrasives
- Henan Yalong Superhard Materials
- Anhui HongJing
- Hyperion Materials & Technologies
- Zhengzhou E-Abrasive Superhard Materials Co., Ltd
- Zhengzhou Sino-Crystal Diamond Co., Ltd.