DUBLIN, September 17, 2021--(BUSINESS WIRE)--The "Global Diamond Tools Market, By Product Type, Manufacturing Method, Application, End-User Industry - Estimation & Forecast till 2027" report has been added to ResearchAndMarkets.com's offering.
The global diamond tools market held a market size of USD 15,154.7 Million in 2020 and is expected to reach USD 24,286.7 Million by 2027. The global diamond tools market is anticipated to grow at a CAGR of 7.1% over the forecast period.
The demand for diamond tools is fueled by increased adoption of industry 4.0 across various end-use industries, and increased investments in construction industry. Whereas, high cost of diamond tools as compared to other cutting tools in the market, and fluctuations in raw material prices is expected to create hindrance in market growth.
The diamond tools market is a highly fragmented, with the presence of international and local players across various regions. This results in increased competition in the market. Market players are continuously focusing on geographical expansions in order to increase their client base.
(1) Increasing demand for efficient cutting tools to operate in extreme cutting conditions
Continuous increase in the demand for cutting tools, which can perform efficiently under extreme cutting conditions, is expected to fuel the growth of diamond tools market in the forthcoming years. Currently, manufacturing industry is looking for improving the mechanical properties of product materials, especially the material hardness. conventional cutting tools are heavily dependant on sintering the number of materials, and the time required to complete the sintering cycle, which in turn increases the cost of the whole process. Additionally, conventional methods are not effective for usage in extreme cutting conditions including extreme temperature and friction. Diamond tools offers wear resistance capability, and high thermal conductivity which makes the fabrication and processing of products easier. Due to these advantages offered by the diamond tools the market is expected to grow in the forthcoming years.
(2) Increased adoption of industry 4.0 is fueling the demand for diamond tools
Increased adoption of Industry 4.0 across various industries, is one of the most important factors driving the growth of diamond tools market. Industry 4.0 has brought a revolution in the manufacturing process, in turn increasing the capacity, volume, and reducing the cost of manufacturing process. Increased manufacturing activities has resulted in flourishing the demand for diamond tools across different industries.
(3) High cost of diamond tools is restraining the market growth
High cost of diamond tools is one of the most crucial factors, restraining the market growth. Diamond tools are worth the investment only for industries operating with advanced materials. Researchers are actively looking for the substitute of diamond tools. Introduction of Cubic Boron Nitride (CBN), the second hardest material after diamond, posed a big challenge in the diamond tools market.
The global diamond tools market report answers questions such as:
What is the market size and forecast of the global diamond tools market?
What are the inhibiting factors and impact of COVID-19 on the global diamond tools market during the assessment period?
Which are the products/segments/applications to invest in over the assessment period in the global diamond tools market?
What are the technology trends in the global diamond tools market?
What strategies are considered favourable for entering the global diamond tools market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Diamond Tools Market
Chapter 4. Global Diamond Tools Market Overview
Chapter 5. Diamond Tools Market Analysis, By Product Type
Chapter 6. Diamond Tools Market Analysis, By Manufacturing Method
Chapter 7.Diamond Tools Market Analysis, By Applications
Chapter 8.Diamond Tools Market Analysis, By End User Industry
Chapter 9.Diamond Tools Market Analysis, By Region/Country
Chapter 10. North America Diamond Tools Market Analysis
Chapter 11. Europe Diamond Tools Market Analysis
Chapter 12. Asia Pacific Diamond Tools Market Analysis
Chapter 13. Middle East & Africa Diamond Tools Market Analysis
Chapter 14. South America Diamond Tools Market Analysis
Chapter 15. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
Alpha Diamond Tools Co., Ltd.
Bell Impex (Juhai)
Compagnie de Saint-Gobain S.A.
Danyang Tianyi Diamond Tools Co., Ltd.
EHWA Diamond Industrial Co. Ltd.
Foshan Boer Ceramic Technique Co., Ltd.
G & G Surface Technology
For more information about this report visit https://www.researchandmarkets.com/r/slw5qv
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