Resin Bond Diamond Powder Market: Overview
- Resin bond diamond powder is a type of diamond abrasive grain. Resin bond diamond powder is a monocrystalline diamond. It displays sharp friable-resin bond crystals, micronized from selected industrial grade powders.
- Resin bond diamond powder is a manmade diamond powder, it is one of the hardest manmade abrasives utilized in a variety of grinding, lapping, and polishing applications
- Resin bond diamond powder is used in various applications containing machining of materials such as glass, tungsten carbide, surface conditioning, and ceramics. It is an ideal synthetic material employed for all phenolic, vitrified, and polyimide bond diamond tools.
- It also offers superior performance while processing hard alloys and various non-metal materials. The exceptional property of multicrystalline diamond powder is its ability to micro-fracture.
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Rise in Demand for Abrasives to Drive the Resin Bond Diamond Powder market
- Resin bond diamond powder is increasingly being used in the manufacture of abrasives which are extensively utilized in automotive, building & construction, metal fabrication, and various manufacturing industries. This is a key factors driving the global resin bond diamond powder market.
- Expansion of the construction industry in emerging economies, such as China, India, and Brazil, owing to an increase in residential construction is expected to boost the global resin bond diamond powder market during the forecast period
- Volatility in prices of raw materials is likely to hamper the global resin bond diamond powder market in the near future
- Supply of raw material utilized to produce resin bond diamond powder is witnessing shortages due to the industrial shutdown triggered due to the COVID 19 outbreak. Disrupted raw material supply is projected to hamper full-scale operations. Supply shortage has also fueled the prices of raw material. Affected downstream supply chain might take longer for deliveries. The industrial shutdown has also adversely impacted product and inventory transportation, as logistic services have been hampered due to the COVID-19 outbreak.
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Coated Type Segment to Offer Lucrative Opportunities
- Based on type, the global resin bond diamond powder market can be segmented into coated type and uncoated type
- The coated segment of the global resin bond diamond powder market is estimated to expand at a rapid pace during the forecast period
- Coated diamond powder is manufactured by advanced compound plating and chemical plating technique. Varieties of coated resin bond diamond powder are used in phenolic and polyimide bonds. Uncoated products are used in hybrid and vitrified bonds.
Tungsten Carbide Segment to Hold Major Share of Market
- Based on application, the resin bond diamond powder market can be divided into tungsten carbide, glass, ceramic, and others
- The tungsten carbide segment holds a major share of the global resin bond diamond powder market, led by a rise in the demand for industrial machinery, drilling & cutting tools, abrasives, and mining tools. Tungsten carbide is also utilized in armor-piercing ammunition.
- The ceramic segment also holds a vital share of the global resin bond diamond powder market
Asia Pacific to Constitute Significant Share of Global Resin Bond Diamond Powder Market
- In terms of region, the global resin bond diamond powder market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is anticipated to hold a significant share of the global resin bond diamond powder market in the near future
- Increasing industrialization and rising demand for industrial machinery in countries in Asia Pacific, such as China and India, is anticipated to drive the resin bond diamond powder market across the region
- Expansion of manufacturing industry and the construction sector in Asia Pacific is likely to boost the resin bond diamond powder market in the region
- North America is also anticipated to hold a key share of the global resin bond diamond powder market during the forecast period
- The market in Latin America and Middle East & Africa is projected to expand at a steady pace during the forecast period due to the stable demand for resin bond diamond powder in the manufacturing industry.
Key Players in Market
The global resin bond diamond powder market was highly fragmented in 2019. Prominent players operating in the global resin bond diamond powder market seek to enter into partnership agreements for the development of innovative products.
Key players operating in the global resin bond diamond powder market include:
- L.M. Van Moppes & Sons
- E-Grind Abrasives
- Advanced Abrasives Corporation
- Gem Diamond Products
- Henan Mochen Superabrasives
- Tomei Diamond
- Changsha Shili Superhard Material
- Henan E-Grind Abrasives Co., Ltd.
- Gem Diamond Products
- Xinren Superabrasives Co., LTD.
Global Resin Bond Diamond Powder Market: Research Scope
Global Resin Bond Diamond Powder Market, by Type
- Coated Type
- Uncoated Type
Global Resin Bond Diamond Powder Market, by Application
- Tungsten Carbide
- Others (precious stones, dies, pellets, etc.)
Global Resin Bond Diamond Powder Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.