Diamond tools are machine tools with grains fixed on the functional parts of these tools via a bonding material or another method. Diamond tools have salient advantages as compared to other machine tools, such as high hardness, cutting edge sharpness, and good thermal conductivity, among others. Diamond tools are made from synthetic diamonds or pieces of diamond that are not used for jewelry or ornamental purposes.
The global diamond tools market continues to be studied with the deep understanding of a slew of macro- and micro-economic factors. Emphasis on enriched cutting efficiency and reducing wastage in the form of chips is expected to continue to foster the demand for diamond tools over the slated time period. Increasing automotive production is creating lucrative opportunities for the diamond tools market. For example, diamond tools are used to perform crucial operations pertaining to engine blocks, engine heads, and cylinder blocks gallery, among others. Furthermore, growth in the construction industry is also expected to shape up the global demand for diamond tools over the coming years. In addition, new ongoing construction buildings require diamond tools to smoothen and finish the floors, walls, and other areas, which, in turn, is expected to boost the demand for diamond tools over the coming years.
The global diamond tools market is estimated to grow at a CAGR of more than 7.0%, and is estimated to reach an approximate value of US$ 22,000 Mn by the end of the forecast period.
Abrasive Type and Milling Tools Prominent for Diamond Tools Manufactures
On the basis of tools type, the abrasive type segment is projected to dominate throughout the forecast period, owing to continued demand from the construction industry for floor finishing. The abrasive type segment is also categorized into finishing-based & lapping-based. The finishing-based sub-segment is estimated to grow at prominent CARG of more than 7.0% over the forecast period. Moreover, in 2018, the finishing-based sub-segment is expected to account for nearly 5X share as compared to the lapping-based sub-segment in the global market. The milling tools segment is estimated to create more than US$ ~3,000 Mn absolute & opportunity during the forecast period.
In Terms of Annual Growth, the Electroplated Segment is Estimated to Grow at a Substantial Pace throughout the Forecast Period
By manufacturing method, the electroplated segment is projected to gain significant traction in the global diamond tools market, owing to these tools accounting for high efficiency and being more economic as compared to metal-bonded and resin-bonded. However, the metal-bonded segment is expected to account for a sizable share in the global diamond tools market. The resin-bonded segment is expected to grow at an approximate CAGR of 7.0% in the coming years, due to these tools having excellent cutting ability that helps reduce chipping and fractures.
Global Diamond Tools Market Growth is Directly Dependent Upon the Growth of End-Use Industries
By end use, the construction segment is estimated to be an attractive segment as compared to other segments, owing to increasing spending on construction around the world. The construction segment is also categorized into glass, stone, and ceramic. Among these, the ceramic segment is projected to grow at a CAGR of around 3.0% during the forecast period. In the global market, the fabrication & general manufacturing segment is expected to grow with little value share, owing to the prevalence of HSS and carbide tools. Automotive, healthcare & pharmaceutical, and aerospace & defense end users are also expected to present opportunistic potential in the global diamond tools market over the forecast period.
Upcoming Construction Projects in Respective Regions a Key Driver for the Diamond Tools Market
On a regional level, the market in South Asia is projected to grow at a CAGR of around 9.0%, owing to robust growth in the construction industry, coupled with rising automotive vehicle production. Latin America is also expected to represent healthy opportunity for the abrasive type segment, owing to rapid growth in the construction industry in Brazil, which, in turn, is also expected to shape up the diamond tools market in the region over the forecast period. Furthermore, in the Middle East & Africa, the construction industry is growing at a significant pace, due to the increasing number of upcoming projects in GCC countries, which is paving the smooth way for the diamond tools market over the slated time period.
Diamond Tools Market Structure
The global diamond tools market is fragmented due to a large number of global companies operating in the market, as well as many local diamond tool manufactures across several regions, particularly in China and India. The presence of a significant bunch of domestic as well as international players is creating a competitive environment in the global diamond tools market. Organized players are projected to generate more than US$ 3,000 Mn, collectively, in 2018, through the selling of diamond tools across the globe. Moreover, diamond tool manufacturers are strategically making strong footholds around the world through business expansion in developing as well as developed countries.
Key Questions Answered in the Diamond Tools Market Report
Persistence Market Research’s recently published research study on the diamond tools market, titled, 'Diamond Tools Market: Global Industry Analysis 2013-2017 and Forecast 2018-2028', offers a detailed value-volume analysis of the diamond tools market, along with insights via BPS analysis in (US$ Mn), market attractiveness analysis, and Y-o-Y growth on the basis of tool type, manufacturing method, and end-use industry. The volume analysis for the diamond tools market has been considered in ‘000 units (number of diamond tools), covering data for the historical period ranging from 2013-2017, and forecasted period up to 2028, with 2017 as the base year.
In addition to the quantitative analysis provided by market size estimates and growth trends, the report on the global diamond tools market also provides qualitative analysis in the shape of market dynamics, such as drivers, restraints, trends, opportunities, forecast factors, macroeconomic factors, market definition, Porter's analysis, and other factors that influence and impact the global diamond tools market.
The report on the global diamond tools market aims to provide insights with regards to market size and its associated development for interested stakeholders. Marketing and business intelligence has been facilitated through information based on competition landscape, business strategies, technology roadmap, and list of market participants with relevant information on diamond tools. PMR has not only presented research findings but also has added suitable recommendations and market dynamics that can be helpful for market entry, business development, and sustenance in the diamond tools market space.
Diamond Tools Market: Report Description
For a comprehensive understanding of the diamond tools market in the finest possible way, the report has been categorically segmented into a multitude of categories on the basis of tool type, manufacturing method, and end use. Market size estimation and analysis have been provided on a global level, as well as by prominent regions and associated countries in North America, Latin America, Europe, South Asia, East Asia, and the Middle East & Africa.
The first section of the diamond tools market report includes the market introduction/definition, wherein, product definition, taxonomy, and market definition by segments where significance and utility scope of each sub-segment has been briefed. The market definition also provides an outline of research assumptions/ limitations binding on the research study, on the basis of which the entire framework has been devised.
The second section of the global diamond tools market report includes macroeconomic factors, along with value chain analysis, drivers, restraints, trends, and opportunities that have a profound influence on market growth. Information has been backed up with suitable examples and facts as obtained from official and authentic data credentials. In the subsequent section, the diamond tools market viewpoint has been covered, which includes global value and volume analysis.
Diamond Tools Market: Segmentation
By Tool Type
By Manufacturing Method
By End Use
The diamond tools market report provides significant information pertaining to the above-mentioned segments in the global diamond tools market. The final part in the market background is included in the forecast factors, which includes a study of the factors that are expected to have an impact on the diamond tools market, such as technological growth, investments, and other key insights pertaining to the diamond tools market.
A section dedicated to the pricing analysis of diamond tools has been provided on the basis of tool type on regional fronts, whose weighted average selling price has been computed to arrive at global average prices. This pricing analysis provides pricing by each configuration. Assumptions and key considerations for the same have also been elucidated.
The sections that follows consists of the global diamond tools market analysis by tool type, manufacturing method, end use, and region/country. The overall analysis of the diamond tools market begins with overall global market assessment, followed by the analysis of numerous regions citing the macroeconomic environment of each particular region. Each regional section of the report contains qualitative data and quantitative aspects of the global diamond tools market.
In the final section of the report, we have provided a competition analysis with company market share analysis pertaining to diamond tools, and the performance of manufactures by tier. In the competition dashboard section of the global diamond tools market report, we have provided a dashboard view of major players, along with market share and their key business strategies. This helps clients understand the strategies deployed by market players, and allows them to develop effective strategies accordingly.
Diamond Tools Market: Research Methodology
The first stage of research includes the formulation of a primary hypothesis, which was gathered from primary as well as secondary approaches. The subsequent stage involves the triangulation of data gathered from two approaches.
For the final data analysis of the diamond tools market, we have considered 2017 as the base year, and basic data was collected from public sources as well as sources such as company annual reports, investor presentations and press releases, World Bank Statistics on revenue sales, newsletters, published reports on the public domain, industry association reports, and paid databases on finance and corporate information. The collated data from these sources was further validated from product manufacturers, distributors, end-user procurement agencies, and regional representatives.
For market estimation, we have considered both, demand-side as well as supply-side drivers and trends. Historical data includes data for the period 2013-2017, and forecast estimation for the period 2018-2028. Our team has considered product and technology developments, market trends, mergers and acquisitions, and strategic developments among the manufacturers of diamond tools.
The forecast presented in the global diamond tools report evaluates the actual market size (US$ Mn) in 2017 with regard to the product (diamond tools), and the expected market value in the global diamond tools market over the forecast period. Moreover, the report shows the market attractiveness for the coming ten years. This market attractiveness value helps clients identify real opportunities in the global diamond tools market.
Further, our team also considered mandated industry standards and regulations of diamond tools for every region, which are approximately same as HSS tools and carbide tools. Furthermore, to analyze the market share and competition analysis, we tracked key company developments such as collaborations, expansion, mergers & acquisitions, new orders, product launches, awards, and recognitions.
For market share and tier analysis based on key and regional players in the diamond tools market, we collected the data from annual reports published by the manufacturers of diamond tools, and estimated the market share of players on the basis of the distribution of the product at a regional level. Competition benchmarking has been provided for the top nine competitors with respect to the sales performance of diamond tools.