Global Superhard Materials Market to Reach US$16.5 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Superhard Materials market. The global market for Superhard Materials is forecast to reach US$16.5 billion by the year 2015. Market growth is dependent upon core technological innovations in areas such as miniaturization of components/devices and development of multifunctional components and materials with greater functionality.

Superhard Materials: A Global Strategic Business Report

Manufacturing industries are increasingly adopting latest production methods, which require knowledge based materials and components rather than mere empirical techniques. Some of the prominent trends shaping the market include stringent environment legislations and rising discernment about material recycling. There is an increased focus towards developing innovative superhard materials for structural applications such as abrasives and cutting tools for use in manufacturing and other processes. In addition, research is also on for fibre-reinforced advanced ceramics used as components in manufacturing facilities and heat resistant coatings for enhancing gas-turbine efficiency.

India and China are emerging as the primary markets for diamond cutting and polishing. Improvements in quality, advancements in mining and cutting procedures and large workforce crowned countries such as China and India with leading positions. The overall diamond market experienced considerable negative repercussions due to the global economic meltdown, wherein the prices as well as demand for rough diamond declined by about 25% in 2009. The diamond-mining sector in South Africa, one of the leading diamond producers worldwide, was among the worst affected during the year. European countries especially Italy and the UK registered decrease in demand for ceramics owing to slow production activity. With a perspective on global production, Russia, DRC (Democratic Republic of Congo) and Botswana emerged as the largest rough diamonds producers in volume terms. The market share of De Beers, one of the most influential players in diamond production, witnessed consistent decline from a monopolistic 90% share in the last decade or so to about 60% since 2004 and even lesser in the present scenario.

However, the diamond industry is expected to witness a turnaround on account of recovery in the US market and growth in Asian diamond markets such as China and India. While the European markets continue to be the leading markets for diamond, rapidly growing Asian economies are expected to form a significant market group. Diamond prices are expected to rise in the near future and companies engaged in diamond mining in the southern and central Africa are expected to witness considerable growth in the post recession period.

North America, comprising the US and Canada, represents the undisputed market leader, as stated by the new market research report on Superhard Materials. The region’s prospects continue to appear bright primarily on account of US’ dominance as one of the largest global consumers of industrial diamonds. The country is also a major producer and exporter of synthetic industrial diamonds. North America and Europe, mainly propelled by Russia make up a consolidated lion’s share of more than 75% in the global market. Contingent upon a new wave of technological developments and the US demand for industrial diamonds, the North American region is forecast to emerge as the fastest growing market through 2015. The Canadian market, renowned for its superior-quality diamonds, is experiencing robust growth opportunities in the Northwest Territories.

The Superhard Materials market is categorized by cemented carbides, tool steels, ceramics, diamonds, and cubic boron nitride (CBN/PCBN). Among the product segments, Cemented Carbide, widely used as cutting tools in industrial machines, represents the largest segment worldwide. In terms of fastest growing segment, Cubic Boron Nitride (CBN/PCBN) is projected to take the lead in the global market.

Some of the leading market participants include Abrasive Technology Ltd., Ceradyne Inc, Diamant Boart S.A., Dennis Tool & Supply Co., Novatek Inc., Precorp Inc., Sandvik Tooling AB, Diamond Innovations, Inc., Saint-Gobain Advanced Ceramics Corp., Sumitomo Electric Hardmetal Corp., US Synthetic Corp., Mudanjiang Jingangzhuan Boron Carbide, Element Six and several others.

The report titled “Superhard Materials: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, production trends, product profile, market share data, new product introductions, recent industry activity, and profiles of market players worldwide. Analysis is presented for major geographic markets such as North America, Europe and Rest of World. Market analytics are provided in terms of dollar (value) for product segments including Cemented Carbides, Tool Steels, Ceramics, Diamond and CBN/PCBN. The study also presents historic data for an insight into market evolution over the period 2000 through 2006.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Superhard_Materials_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com

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