Superhard Materials Market Growth Analysis | 2023-2028

Market Insights

The superhard materials market was estimated at USD 4.68 billion in 2022 and is likely to grow at a CAGR of 5.10% during 2023-2028 to reach USD 6.35 billion in 2028.

Want to know more about the market scope? Register Here

What are Superhard Materials

Super-hard materials are materials that possess a hardness level exceeding 40 gigapascals. They find applications in various industrial processes such as abrasives and polishing and cutting wear-resistant tools and protective coatings.

Market Dynamics

Growing manufacturing sector and utilization of the product in major end-user industries including automotive, building & construction, chemical and petrochemicals are the major factors expected to drive the growth of the global super-hard materials market. In addition, use of the product for protective coating, metal sheets cutting, etc. in the automotive and transportation industries is expected to fuel the growth of the global super-hard materials market during the forecast period.

Want to have a closer look at this market report? Click Here.

Segment Analysis

By Product Type

The market is segmented as diamond, cubic boron nitride, and others. Diamond generated substantial revenue in 2022 and covers over half of the total market. The segment is estimated to maintain its dominance during the forecast period as well. The growth of the segment is owing to the product being majorly used for grinding, cutting, and machining materials including titanium alloys, cemented carbides, ceramics, quartz stone, asphalt, glass, etc. These are also used in dressers, drill bits and wire drawing dies.

By Form Type

The market is segmented as monocrystalline, polycrystalline, composite, and others. Composite form type is expected to remain the largest segment of the market owing to the increasing use of super-hard composites to manufacture stealth aircraft and automotive body parts.

By End-User Type

The market is segmented as automotive & transportation, building & construction, chemicals & petrochemicals, drilling, mining & quarrying, electrical & electronics, and others. The building & construction end-user type is estimated to account for the major share of the superhard materials market during the forecast period on account of rising urbanization driven by the increasing middle- and high-income population, especially in the Asia-Pacific region. On the other hand, the electrical & electronics industry is also estimated to register significant growth in the market over the forecast period as super-hard materials are used for the manufacturing of heat conductors, high-power transistors, optics and optoelectronics.

Regional Analysis

Asia-Pacific dominated the superhard materials market in 2022, and is estimated to continue its leading position during the forecast period as well. The region’s growth is owing to the rising chemical and petrochemical industries in South Korea, India, and the Southeast Asian countries. The Asia-Pacific region is followed by North America and Europe. Improvements in economy, increasing manufacturing activities, and growing demand for machine tools used for industrial applications in North America and Europe drive the super-hard materials market in the respective regions.

Know the high-growth countries in this report. Register Here.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market. 

The super-hard materials market is segmented into the following categories:

By product type:

• Diamond
• Cubic Boron Nitride
• Others

By form type:

• Monocrystalline
• Polycrystalline
• Composite
• Others

By end-user type:

• Automotive & Transportation
• Building & Construction
• Chemicals & Petrochemicals
• Drilling
• Mining & Quarrying
• Electrical & Electronics
• Others

By region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Click Here, to learn the market segmentation details.

Key Players

Some of the key players in the super-hard materials market are-

• Element Six
• Sandvik
• ILJIN Diamond
• Zhongnan Diamond
• Huanghe Whirlwind
• JINQU Super-hard
• Sumitomo Electric Industries
• FUNIK
• SF-Diamond
• Zhengzhou Zhong Peng
• Besco Superabrasives
• Yalong Super-hard Materials
• CR GEMS
• Anhui HongJing.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the global superhard materials market.

What Deliverables Will You Get in this Report?

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Segmentation

• Current market segmentation by any one of the form types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.