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Cubic Boron Nitrates Market

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Cubic Boron Nitrates Market

Cubic Boron Nitrates Market (Product - Inserts, Wheels, Mesh, and Powder; Application - Raw Abrasives, Coatings, Cutting & Grinding, and Lapping & Polishing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Global Cubic Boron nitrates Market: Snapshot

The advantages provided by cubic boron nitrates abrasive tools over the tools made of diamond have surfaced as the key factor behind the substantial growth of the global cubic boron nitrates market. Although diamond is the hardest material used for industrial operations, such as turning, cutting, drilling, boring, and grinding, it has several technological limitations. Cubic boron nitrates, on the other hand, can overcome the issues faced by diamond and maintain its hardness at room temperature as well as over a wide range of temperatures, making them sturdy and more dependable.

With the increasing demand for cubic boron nitrates across the world, the opportunity in this market is estimated to rise at a CAGR of 7.10% from 2016 and 2024, increasing from US$531.3 mn in 2015 to US$978.9 mn by the end 2024. Although the market looks promising at present, the expensive production process may create obstacles in the growth trajectory of this market in the years to come.

cubic boron nitride market

Demand for Inserts to Remain Strong

Inserts, wheels, mesh, and powder are the main products available in the global market for cubic boron nitrates. Among these, the demand for inserts is higher than others and is anticipated to remain so over the next few years. The increasing application of inserts in the metal processing industry, owing to the rising requirement of processes, such as cutting, grinding, and finishing for products in the automotive, medical, and the aerospace sectors is expected to boost the demand for inserts across the world in the near future.

As a result of the increasing utilization of inserts in cutting and grinding applications, the demand for wheels is likely to decline noticeably over the next few years. Among applications, the demand for cubic boron nitrates products is significantly high in the cutting and grinding segment.

Asia Pacific to Remain on Top

Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific are the key geographical segments of the global market for cubic boron nitrates. Asia Pacific led this market in 2015 with a share of 35%. Analysts expect this regional market to remain leading over the next few years, thanks to the presence of a large number of market players and the extensive demand for cubic boron nitrates in various Asian economies, China, India, and Japan. The significant growth in the automotive, medical, and the aerospace industries observed in developing countries will also support the Asia Pacific market for cubic boron nitrates in the years to come.

Among other regional markets, Europe is likely to remain witnessing a steady rise, whereas, Latin America and the Middle East and Africa are expected to experience moderate growth due to the dearth of manufacturing facilities and their export-oriented economies over the forthcoming years.

With the presence of a large pool of players, the global cubic boron nitrates market displays a competitive landscape. REX-LEE, FUNIK Ultrahard Material Co. Ltd., Sumitomo Electric Industries Ltd., Sumitomo Electric Hardmetal Corp., ILJIN Diamond Co. Ltd., Asahi Diamond Industrial Co. Ltd., Tomei Diamond Co. Ltd., SHOWA DENKO K.K., Reishauer AG, Baltic Abrasive Technologies, Element Six, NanoDiamond Products, Sandvik AB, Advanced Abrasives Corp., Saint-Gobain, and 3M are some of the leading players in the worldwide market for cubic boron nitrates.

Advances in Nanotechnologies to Spur New Research in Cubic Boron Nitrates Market

Boron nitrates hold an incredible potential in materials sciences. Equipped with nanotechnologies, industries have been able to utilize boron nitrates in range of applications. The drive for cubic boron nitrates stems from the continuous advances made in processing of materials and growing understanding of computed properties. They are similar in properties of diamond, only with better machinability. Thus, cubic nitrates are increasingly utilized in metal processing technologies such as in cutting and grinding applications. The applications are expected steady for the next few years, underpinning the prospects in the cubic boron nitrates market. Research and development activities have recently lean on thermal stability of cubic boron nitrates at high temperature. Cubic boron nitrates have shown promising potential in aerospace applications, the reason having to do with their stability at high temperatures. In particular, they are used in improving the thermal stability and output performance. In particular, efforts toward modifying the characteristics have paved way to the prospects of a few novel applications. A case in point is demand for boron nitrates to meet the function of materials that can withstand the wide temperature range of  −100 to +130 ◦C in deep space applications. Ongoing research in these areas are boosting the prospects in the cubic boron market.

The COVID-19-led lockdowns on economies in 2020 and 2021 have been instrumental in changing the face of business, in terms of tactical, operational, and strategic parameters. The post-pandemic world had thus seen decline in several firm activities, bringing economic growth to screeching halt especially in 2020. Manufacturing industries have suffered the most, the key reasons being lack of raw materials availability and supply chain bottlenecks. Nevertheless, some companies were keen on consolidating the value chain from raw material suppliers to producers to retailers to boost the last mile delivery. New vendors and distributor frameworks emerged, adding impetus to the growth momentum of the cubic nitrates market.

The global cubic boron nitrates market has been segmented as follows:

By Product
  • Inserts
  • Wheels
  • Mesh
  • Powder

By Application
  • Raw Abrasives
  • Coatings
  • Cutting & Grinding
  • Lapping & Polishing
  • Others

By Region
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Middle East and Africa (MEA)
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America

     

    1. Preface
        1.1.Report Scope and Market Segmentation
        1.2.Research Highlights

    2. Assumptions and Research Methodology
        2.1.Report Assumptions
        2.2.Secondary Sources and Acronyms Used
        2.3.Research Methodology

    3. Executive Summary
        3.1.Market Snapshot
        3.2.Top Trends

    4. Market Overview
        4.1.Product Overview
        4.2.Market Indicators

    5. Market Dynamics
        5.1.Drivers and Restraints Snapshot Analysis
              5.1.1.Drivers
              5.1.2.Restraints
              5.1.3.Opportunities
        5.2.Global Cubic Boron Nitrates Market Analysis and Forecast
        5.3.Porter’s Analysis
              5.3.1.Threat of Substitutes
              5.3.2.Bargaining Power of Buyers
              5.3.3.Bargaining Power of Suppliers
              5.3.4.Threat of New Entrants
              5.3.5.Degree of Competition
        5.4.Value Chain Analysis
        5.5.Product to Application Comparison Matrix
        5.6.Global Cubic Boron Nitrates Market Outlook, 2015

    6. Cubic Boron Nitrates Market Analysis, by Product
        6.1.Introduction
        6.2.Key Findings
        6.3.Global Cubic Boron Nitrates Market Volume Share Analysis, by Product
        6.4.Global Cubic Boron Nitrates Market Forecast and Analysis, By Product
              6.4.1.Inserts
              6.4.2.Wheels
              6.4.3.Mesh
              6.4.4.Powder
        6.5.Global Cubic Boron Nitrates Market Attractiveness Analysis, by Product
        6.6.Key Trends

    7. Cubic Boron Nitrates Market Analysis, by Application
        7.1.Introduction
        7.2.Key Findings
        7.3.Global Cubic Boron Nitrates Market Value Share Analysis, by Application
        7.4.Global Cubic Boron Nitrates Market Forecast and Analysis, by Application
              7.4.1.Raw Abrasives
              7.4.2.Coatings
              7.4.3.Cutting & Grinding
              7.4.4.Lapping & Polishing
              7.4.5.Others
        7.5.Global Cubic Boron Nitrates Market Attractiveness Analysis, by Application
        7.6.Key Trends

    8. Global Cubic Boron Nitrates Market Analysis by Region
        8.1.Global Market Size Growth Scenario, by Region, 2015
        8.2.Key Findings
        8.3.Global Cubic Boron Nitrates Market Value Share Analysis, by Region
        8.4.Global Cubic Boron Nitrates Market Forecast, by Region
              8.4.1.North America
              8.4.2.Latin America
              8.4.3.Europe
              8.4.4.Asia Pacific
              8.4.5.Middle East and Africa
        8.5.Global Cubic Boron Nitrates Market Attractiveness Analysis, by Region
        8.6.Key Trends

    9. North America Cubic Boron Nitrates Market Analysis
        9.1.Key Findings
        9.2.North America Cubic Boron Nitrates Market Overview
        9.3.North America Cubic Boron Nitrates Market Volume Share Analysis, by Product
        9.4.North America Cubic Boron Nitrates Market Forecast, by Product
        9.5.North America Cubic Boron Nitrates Market Value Share Analysis, by Application
        9.6.North America Cubic Boron Nitrates Market Forecast, by Application
        9.7.North America Cubic Boron Nitrates Market Value Share Analysis, by Country
        9.8.North America Cubic Boron Nitrates Market Forecast, by Country
              9.8.1.U.S.
              9.8.2.Canada
        9.9.North America Cubic Boron Nitrates Market Attractiveness Analysis

    10. Latin America Cubic Boron Nitrates Market Analysis
        10.1. Key Findings
        10.2. Latin America Cubic Boron Nitrates Market Overview
        10.3. Latin America Cubic Boron Nitrates Market Volume Share Analysis, by Product
        10.4. Latin America Cubic Boron Nitrates Market Forecast, by Product
        10.5. Latin America Cubic Boron Nitrates Market Value Share Analysis, by Application
        10.6. Latin America Cubic Boron Nitrates Market Forecast, by Application
        10.7. Latin America Cubic Boron Nitrates Market Value Share Analysis, by Country
        10.8. Latin America Cubic Boron Nitrates Market Forecast, by Country
              10.8.1.Brazil
              10.8.2.Mexico
              10.8.3.Rest of Latin America
        10.9. Latin America Cubic Boron Nitrates Market Attractiveness Analysis 

    11. Europe Cubic Boron Nitrates Market Analysis
        11.1. Key Findings
        11.2. Europe Cubic Boron Nitrates Market Overview
        11.3. Europe Cubic Boron Nitrates Market Volume Share Analysis, by Product
        11.4. Europe Cubic Boron Nitrates Market Forecast, by Product
        11.5. Europe Cubic Boron Nitrates Market Value Share Analysis, by Application
        11.6. Europe Cubic Boron Nitrates Market Forecast, by Application
        11.7. Europe Cubic Boron Nitrates Market Value Share Analysis, by Country
        11.8. Europe Cubic Boron Nitrates Market Forecast, by Country
              11.8.1.Germany
              11.8.2.France
              11.8.3.U.K.
              11.8.4.Spain
              11.8.5.Italy
              11.8.6.Rest of Europe
        11.9. Europe Cubic Boron Nitrates Market Attractiveness Analysis

    12. Asia Pacific Cubic Boron Nitrates Market Analysis
        12.1. Key Findings
        12.2. Asia Pacific Cubic Boron Nitrates Market Overview
        12.3. Asia Pacific Cubic Boron Nitrates Market Volume Share Analysis, by Product
        12.4. Asia Pacific Cubic Boron Nitrates Market Forecast, by Product
        12.5. Asia Pacific Cubic Boron Nitrates Market Value Share Analysis, by Application
        12.6. Asia Pacific Cubic Boron Nitrates Market Forecast, by Application
        12.7. Asia Pacific Cubic Boron Nitrates Market Value Share Analysis, by Country
        12.8. Asia Pacific Cubic Boron Nitrates Market Forecast, by Country
              12.8.1.China
              12.8.2.Japan
              12.8.3.India
              12.8.4.ASEAN
              12.8.5.Rest of Asia Pacific
        12.9. Asia Pacific Cubic Boron Nitrates Market Attractiveness Analysis

    13. Middle East and Africa Cubic Boron Nitrates Market Analysis
        13.1. Key Findings
        13.2. Middle East and Africa Cubic Boron Nitrates Market Overview
        13.3. Middle East and Africa Cubic Boron Nitrates Market Volume Share Analysis, by Product
        13.4. Middle East and Africa Cubic Boron Nitrates Market Forecast, by Product
        13.5. Middle East and Africa Cubic Boron Nitrates Market Value Share Analysis, by Application
        13.6. Middle East and Africa Cubic Boron Nitrates Market Forecast, by Application
        13.7. Middle East and Africa Cubic Boron Nitrates Market Value Share Analysis, by Country
        13.8. Middle East and Africa Cubic Boron Nitrates Market Forecast, by Country
              13.8.1.GCC
              13.8.2.South Africa
              13.8.3.Rest of MEA
        13.9. Middle East and Africa Cubic Boron Nitrates Market Attractiveness Analysis

    14. Competition Landscape
        14.1.Global Cubic Boron Nitrates Market Share Analysis, by Company (2015)
        14.2.Company Competition Matrix
        14.3.Company Profiles
              14.3.1. 3M
                        14.3.1.1.Company Description
                        14.3.1.2.Business Overview
              14.3.2. Saint-Gobain
                        14.3.2.1.Company Description
                        14.3.2.2.Business Overview
                        14.3.2.3.SWOT Analysis
                        14.3.2.4.Strategic Overview
              14.3.3. Advanced Abrasives Corporation
                        14.3.3.1.Company Description
                        14.3.3.2.Business Overview
              14.3.4. Sandvik AB
                        14.3.4.1.Company Description
                        14.3.4.2.Business Overview
              14.3.5. NanoDiamond Products
                        14.3.5.1.Company Description
                        14.3.5.2.Business Overview
              14.3.6. Element Six
                        14.3.6.1.Company Description
                        14.3.6.2.Business Overview
                        14.3.6.3.SWOT Analysis
                        14.3.6.4.Strategic Overview
              14.3.7. Baltic Abrasive Technologies
                        14.3.7.1.Company Description
                        14.3.7.2.Business Overview
              14.3.8. Reishauer AG
                        14.3.8.1.Company Description
                        14.3.8.2.Business Overview
              14.3.9. SHOWA DENKO K.K.
                        14.3.9.1.Company Description
                        14.3.9.2.Business Overview
                        14.3.9.3.SWOT Analysis
                        14.3.9.4.Strategic Overview
              14.3.10. Tomei Diamond Co., Ltd.
                        14.3.10.1.Company Description
                        14.3.10.2.Business Overview
              14.3.11. Asahi Diamond Industrial Co. Ltd.
                        14.3.11.1.Company Description
                        14.3.11.2.Business Overview
                        14.3.11.3.SWOT Analysis
                        14.3.11.4.Strategic Overview
              14.3.12. ILJIN DIAMOND CO. LTD.
                        14.3.12.1.Company Description
                        14.3.12.2.Business Overview
              14.3.13. Sumitomo Electric Hardmetal Corporation
                        14.3.13.1.Company Description
                        14.3.13.2.Business Overview
              14.3.14. Sumitomo Electric Industries, Ltd.
                        14.3.14.1.Company Description
                        14.3.14.2.Business Overview
                        14.3.14.3.SWOT Analysis
                        14.3.14.4.Strategic Overview
              14.3.15. FUNIK Ultrahard Material Co. Ltd.
                        14.3.15.1.Company Description
                        14.3.15.2.Business Overview
              14.3.16. REX-LEE
                        14.3.16.1.Company Description
                        14.3.16.2.Business Overview

    15. Key Takeaways

    List of Tables

    Table 01: Global Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Product, 2015–2024
    Table 02: Global Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
    Table 03: Global Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Region, 2015–2024
    Table 04: North America Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Product, 2015–2024
    Table 05: North America Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
    Table 06: North America Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024
    Table 07: Latin America Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Product, 2015–2024
    Table 08: Latin America Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
    Table 09: Latin America Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024
    Table 10: Europe Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Product, 2015–2024
    Table 11: Europe Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
    Table 12a: Europe Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024
    Table 12b: Europe Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024
    Table 13: Asia Pacific Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Product, 2015–2024
    Table 14: Asia Pacific Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
    Table 15: Asia Pacific Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024
    Table 16: Middle East & Africa Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Product, 2015–2024
    Table 17: Middle East & Africa Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Application, 2015–2024
    Table 18: Middle East & Africa Cubic Boron Nitrates Market Volume (Tons) and Revenue (US$ Mn) Forecast, by Country, 2015–2024

    List of Figures

    Figure 01: Market Snapshot
    Figure 02: Global Cubic Boron Nitrates Market Size (US$ Mn) and Volume (Tons) Analysis, 2015–2024
    Figure 03: Global Cubic Boron Nitrates Market Size and Volume, Y-o-Y Growth Projection, 2015–2024
    Figure 04: Global Cubic Boron Nitrates Market Volume Share, by Product, 2015
    Figure 05: Global Cubic Boron Nitrates Market Value Share, by Application, 2015
    Figure 06: Global Cubic Boron Nitrates Market Volume Share, by Region, 2015
    Figure 07: Global Cubic Boron Nitrates Market Volume Share Analysis, by Product, 2015 and 2024
    Figure 08: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Inserts, 2015–2024
    Figure 09: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Wheels, 2015–2024
    Figure 10: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Mesh, 2015–2024
    Figure 11: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Powder, 2015–2024
    Figure 12: Global Cubic Boron Nitrates Market Attractiveness Analysis, by Product
    Figure 13: Global Cubic Boron Nitrates Market Value Share Analysis, by Application, 2015 and 2024
    Figure 14: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Raw Abrasives, 2015–2024
    Figure 15: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Coatings, 2015–2024
    Figure 16: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Cutting & Grinding, 2015–2024
    Figure 17: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Lapping & Polishing, 2015–2024
    Figure 18: Global Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Analysis, by Others, 2015–2024
    Figure 19: Global Cubic Boron Nitrates Market Attractiveness Analysis, by Application
    Figure 20: Global Cubic Boron Nitrates Market Value Share Analysis, by Region, 2015 and 2024
    Figure 21: Global Cubic Boron Nitrates Market Attractiveness Analysis, by  Region
    Figure 22: North America Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 23: North America Cubic Boron Nitrates Market Attractiveness Analysis, by Country
    Figure 24: North America Cubic Boron Nitrates Market Volume Share Analysis, by Product, 2015 and 2024
    Figure 25: North America Cubic Boron Nitrates Market Value Share Analysis, by Application, 2015 and 2024
    Figure 26: North America Cubic Boron Nitrates Market Value Share Analysis, by Country, 2015 and 2024
    Figure 27: North America Cubic Boron Nitrates Market Attractiveness Analysis, by Product
    Figure 28: North America Cubic Boron Nitrates Market Attractiveness Analysis, by Application
    Figure 29: Latin America Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 30: Latin America Cubic Boron Nitrates Market Attractiveness Analysis, by Country
    Figure 31: Latin America Cubic Boron Nitrates Market Volume Share Analysis, by Product, 2015 and 2024
    Figure 32: Latin America Cubic Boron Nitrates Market Value Share Analysis, by Application, 2015 and 2024
    Figure 33: Latin America Cubic Boron Nitrates Market Value Share Analysis, by Country, 2015 and 2024
    Figure 34: Latin America Cubic Boron Nitrates Market Attractiveness Analysis, by Product
    Figure 35: Latin America Cubic Boron Nitrates Market Attractiveness Analysis, by Application
    Figure 36: Europe Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 37: Europe Cubic Boron Nitrates Market Attractiveness Analysis, by Country
    Figure 38: Europe Cubic Boron Nitrates Market Volume Share Analysis, by Product, 2015 and 2024
    Figure 39: Europe Cubic Boron Nitrates Market Value Share Analysis, by Application, 2015 and 2024
    Figure 40: Europe Cubic Boron Nitrates Market Value Share Analysis, by Country, 2015 and 2024
    Figure 41: Europe Cubic Boron Nitrates Market Attractiveness Analysis, by Product
    Figure 42: Europe Cubic Boron Nitrates Market Attractiveness Analysis, by Application
    Figure 43: Asia Pacific Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 44: Asia Pacific Cubic Boron Nitrates Market Attractiveness Analysis, by Country
    Figure 45: Asia Pacific Cubic Boron Nitrates Market Volume Share Analysis, by Product, 2015 and 2024
    Figure 46: Asia Pacific Cubic Boron Nitrates Market Value Share Analysis, by Application, 2015 and 2024
    Figure 47: Asia Pacific Cubic Boron Nitrates Market Value Share Analysis, by Country, 2015 and 2024
    Figure 48: Asia Pacific Cubic Boron Nitrates Market Attractiveness Analysis, by Product
    Figure 49: Asia Pacific Cubic Boron Nitrates Market Attractiveness Analysis, by Application
    Figure 50: Middle East & Africa Cubic Boron Nitrates Market Revenue (US$ Mn) and Volume (Tons) Forecast, 2015–2024
    Figure 51: Middle East & Africa Cubic Boron Nitrates Market Attractiveness Analysis, by Country
    Figure 52: Middle East & Africa Cubic Boron Nitrates Market Volume Share Analysis, by Product, 2015 and 2024
    Figure 53: Middle East & Africa Cubic Boron Nitrates Market Value Share Analysis, by Application, 2015 and 2024
    Figure 54: Middle East & Africa Cubic Boron Nitrates Market Value Share Analysis, by Country, 2015 and 2024
    Figure 55: Middle East & Africa Cubic Boron Nitrates Market Attractiveness Analysis, by Product
    Figure 56: Middle East & Africa Cubic Boron Nitrates Market Attractiveness Analysis, by Application
    Figure 57: Global Cubic Boron Nitrates Market Share Analysis, by Company (2015)

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