Global Super-Hard Materials Market Report and Forecast 2024-2032

Global Super-Hard Materials Market Outlook

The global super-hard materials market stood at a value of around USD 6.28 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.7% to reach about USD 10.33 billion by 2032.

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Micron Diamond Segment Holds a Significant Share in the Global Super-Hard Materials Industry

As micron diamond is tough and has a high wear resistance, it is ideal for various industrial applications, such as cutting, drilling, polishing, grinding, etc., which is driving the market growth. It can effortlessly grind and polish hard alloys, ceramics, gems, and optical glass, among others, due to which its demand is significantly increasing. In addition, the growing use of micron diamond powder by major ceramic manufacturers is likely to aid the segment growth. The rising demand for precious stones in the jewellery industry is expected to further boost the demand for micron diamond, which is anticipated to propel the market for super-hard materials in the forecast period.

The Asia Pacific Accounts for a Significant Share in the Market for Super-Hard Materials

The super-hard materials industry in the Asia Pacific is driven by the rapid expansion of various end-use sectors in the region, including oil and gas, chemical and petroleum, automotive and transportation, and building and construction, among others. The market growth can also be attributed to the rising population, the increasing disposable incomes, the introduction of favourable government policies for the manufacturers, rapid urbanisation, and infrastructure development. Moreover, the increasing foreign direct investment in countries like India is likely to accelerate various development projects, thereby propelling the demand for super-hard materials.

Super-Hard Materials Market Segmentation

super-hard materials are defined as extremely hard materials with hardness reaching more than 40 gigapascals. These highly tough materials are incompressible and deliver high mechanical performance. super-hard materials find their applications in major industries like electronics, construction, and petrochemicals, among others.

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Based on type, the market can be bifurcated into:

• Intrinsic
• Extrinsic

The different products of super-hard materials are as follows:

• Micron Diamond
• Polycrystalline Diamond (PCD)
• Cubic Boron Nitride (CBN)
• Polycrystalline Cubic Boron Nitride (PCBN)

The market, based on form, is segmented into:

• Monocrystalline
• Polycrystalline
• Composite
• Others

The major end uses of super-hard materials include:

• Automotive and Transportation
• Building and Constructions
• Chemicals and Petrochemicals
• Drilling, Mining and Quarry
• Electrical and Electronics
• Others

The EMR report looks into the regional markets for super-hard materials like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Applications of Super-Hard Materials in the Building and Construction Sector to Boost the Market Growth

The rising application of super-hard materials in the building and construction industry is driving the market. This can be attributed to the high strength and wear-resistance of the materials that stabilise the structure, keeping it safe from earthquakes, tsunamis, and other natural calamities. Over the forecast period, the utilisation of super-hard materials in residential and commercial constructions is likely to boost the market growth in the forecast period. Although the high cost of some super-hard materials such as diamond is likely to impede the market, the rising demand for super-hard materials in drilling, quarrying, and mining is anticipated to provide impetus to the growth of the market. Further, the increasing interest in renewable resources is predicted to further fuel the industry growth in the coming years.

Key Industry Players in the Global Super-Hard Materials Market

The report gives a detailed analysis of the following key players in the global super-hard materials market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• ILJIN Diamond Co., Ltd.
• SF Diamond Co. Ltd.
• Henan Yalong Superhard Materials Co., Ltd.
• Element Six (UK) Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report