Diamond Tools Market
Global Market Study on Diamond Tools: Rising Usage with CNC Machines at Automotive Production Plants Propels Demand
Diamond Tools Market Segmented By Abrasive Type, Drilling Tools, Cutting Tools, Sawing Tools, Milling Tools, Diamond Dressers, Diamond Gauging Fingers Tool Type with Metal-bonded, Resin-bonded, Electroplated Manufacturing Method
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.
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- Kyocera Unimerco A/S
- Dellas S.p.A.
- Shinhan Diamond
- Sumitomo Electric Industries, Ltd.
- Texas Diamond Tools, Inc.
- HILTI Group
- ALPHA DIAMOND TOOLS CO., LTD.
- Shijiazhuang Kitsibo Tools Co., Ltd.
- Sanwa Diamond Tools
- Hunan Qiliang Abrasive Tools Co., Ltd.
- Danyang Tianyi Diamond Tools Co., Ltd.
- FUJIAN QUANZHOU JINLI DIAMOND CUTTING TOOLS CO., LTD
- Monte-Bianco Diamond Applications Co., Ltd.
- Compagnie de Saint-Gobain S.A.
- Syntec Diamond Tools, Inc.
- BELL IMPEX (Juhai)
- G & G Surface Technology
- Quanzhou JDK Diamond Tools Co., Ltd
- Fujian Wanlong Group (Hong Kong) CO., LTD.
- Quanzhou Huangchang diamond tools Co. Ltd.
- Foshan Boer Ceramic Technique Co., Ltd.
- QUANZHOU JINSHAN STONE TOOLS
- Quanzhou Tianli Grinding Tools Co., Ltd.
- Husqvarna AB
- Tyrolit Schleifmittelwerke Swarovski KG
- EHWA Diamond Industrial Co. Ltd.
- TOOLGAL Industrial Diamonds Ltd.
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.
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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.
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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.
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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
- How is the diamond tools market expected to grow over the projected period?
- What direction is the diamond tools market expected to take in terms of volume and value during the forecast period?
- How are macro-economic factors affecting the growth of the diamond tools market?
- What are the key market drivers in the diamond tools market?
- What are the important opportunities and improvement areas for diamond tool manufacturers?
- What are the key developments and trends taking over the diamond tools market?
- Which are the emerging countries that are expected to create significant growth opportunities in the diamond tools market?
Diamond Tools Market: Segmentation
|By Tool Type||
|By Manufacturing Method||
|By End Use||