Global Ultra-hard Material Cutting Machines Market: Overview
The leading factor augmenting the global ultra-hard material cutting machines market is the growing demand for semiconductor substrates built from synthetic diamonds. Additionally, ultra-hard material cutting machines are finding greater uses in more industries, including mining, defense, and semiconductors and electronics. Advancements in technology such as the development of fiber lasers has also bolstered the global ultra-hard cutting machine market. The market is, however, restrained by factors such as the high cost and complexity of the machines. The market is segmented on the basis of types, into electrical discharge machines, laser cutting machines, and others. EDM have consistently led the global ultra-hard cutting machine market till 2015 and are expected to continue leading for the time being.
The global ultra-hard cutting machine market was valued at US$730.0 mn in 2015 and is expected to reach US$1.81 bn by the end of 2024, with its revenue expected to expand at a CAGR of 10.8% within a forecast period from 2016 to 2024. In terms of volume, the global ultra-hard cutting machine market is expected to reach 6661 units by the end of 2024.
APAC Dominates Global Ultra-hard Material Cutting Machine Market
Asia Pacific had held the leading share in the global ultra-hard cutting machine market in terms of both value and volume in 2015. Its value in 2015 was already greater than US$710 mn and is predicted to grow at a very fast rate till 2024. The demand for ultra-hard cutting machines in Asia Pacific has grown in the recent past due to industrial and technological developments in the region. The speedy adoption rate of newer technological innovations and a growing investments in research and development by private entities from the semiconductor and electronics industry is expected to further bolster the global ultra-hard cutting machine market.
In 2015, North America held the second largest share in the global ultra-hard cutting machine market. The region has been the base for a lot of key research and development activities and enjoys the early adoption of several of these innovations, especially in the U.S. These form the primary factors fuelling the growth of the ultra-hard material cutting market in North America. Europe has also been a fruitful region for the sales and development of ultra-hard material cutting machines, due to a heavy rate of use by countries such as Germany. There is also a great scope of increase of demand for the newer laser cutting machines available in the market.
EDMs Grab Lion’s Share in Global Ultra-hard Material Cutting Machine Market
The key types of ultra-hard cutting machines currently available are electrical discharge machines (EDM) and laser cutting machines, along with a collective minority of very niche machines. EDMs held the greater share in the global ultra-hard cutting machine market till 2015, a factor largely attributed to the increasing use of these machines in the production of medical devices and similar equipment. With the increasing rate of innovations and technological advancements in EDMs, their process has found a wider scope of application in the industries of electronics, aerospace, automobile, as well as the overall development of the industrial sector. Laser cutting machines currently take up the second place in the global ultra-hard cutting machine market in terms of demand and volume. Their demand is expected to grow favorably over the coming years owing to the increasing demand for advanced technology, coupled by its falling prices.
The leading players in the global ultra-hard material cutting machines market at the present moment, include DMG Mori(Japan), Bystronic, Incorporation (The U.S.), GF Machining Solutions (Switzerland), OGI Systems Ltd.(Israel), Coherent Incorporation (The U.S.), Rollomatic Inc.(The U.S), Coborn Engineering Company Limited(U.K.), Kennametal, Inc.(The U.S), United Grinding GmbH(Germany), and ANCA (Australia).
Global Ultra Hard Material Cutting Machines Market: Overview
Ultra hard material cutting machines are efficient tools that are used to cut, drill and groove various industrial super hard materials which include cubic boron nitride (CBN), polycrystalline diamond (PCD) and materials produced through chemical vapor deposition (CVD) among others. PCD falls under a cutting material type where the diamonds could be sintered to metal matrix. Each of this individual grains itself forms a mono crystalline. Only industrial ultra hard materials are considered under the scope of the report.
Global Ultra Hard Material Cutting Machines Market: Market Dynamics
Latest technology is one of the key factor driving the ultra hard cutting machine market globally. Latest technologies include new fiber laser technology in cutting ultra-hard materials. The fiber laser technology is 30 times faster than electrical discharge machines (EDM) and can cut ultra material like cubic boron nitride (CBN) and polycrystalline diamond (PCD).Growing application for synthetic-diamond semiconductor substrates is another factor driving the growth of the global ultra hard material cutting machines market. The growth in demand for synthetic-diamond semiconductor substrates is directly proportional to rise in demand for ultra hard cutting machines as they are required for cutting this material and giving them shape.
In addition, curving of complex shapes is easily achieved by ultra hard material cutting machines like the EDM as compared to using traditional used cutting machines. High precision rate can be achieved using the ultra hard material cutting machines, as it requires minimal space and does not damage the part with excess cutting tool pressure. Thus, the conjoint effect of all these drivers is set to bolster the growth of the global ultra hard material cutting machines market in the coming years. This factor is hindering the growth of the market at the global level, particularly in the developing countries.
Rise in application of CBN as a substitute for diamond is key driver for the growth in demand for CBN cutting machines over the forecast period. The chemical vapor deposition (CVD) finds a wide range of application with the end industries which involves enhancement and modification of substrate. Other end use industries which require CVD technologies involve cutting tools, microelectronics, medical and decorative coatings. CVD finds application in machining and cutting tools, thermal conductors, electronics and gemstones. Polycrystalline diamond (PCD) tipped tools are used in cutting and hard rock mining applications.
Global Ultra Hard Material Cutting Machines Market: Regional Analysis
Based on type, the global market has been segmented into Electrical Discharge Machines (EDM), Laser Cutting and Others. The Others segment mainly includes grinding machines among others By geography, the ultra hard material cutting machines market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Country level cross sectional data have also been incorporated in the report. Therefore, the global ultra hard material cutting machines market report offers extensive study of the market along with providing the forecast of the market in terms of revenue (USD Million) and volume (Units) from 2016 – 2024.
Global Ultra Hard Material Cutting Machines Market: Competitive Landscape
The key players in the global ultra hard material cutting machines market have been competitively profiled across the five broad geographic regions. This competitive landscape is inclusive of the various business strategies adopted by these major players and their recent developments in the field of ultra hard material cutting machines. Further, the report includes the market attractiveness analysis of the electrical discharge machines (EDM), laser cutting machines and others. Ultra hard materials used for only industrial application have been covered under the scope of the report An exhaustive analysis of the market dynamics of the global market that is inclusive of the market drivers, restraints and opportunities is covered under the purview of the study.
Some of the major players operating in the ultra hard material cutting machines market are: DMG Mori(Japan), GF Machining Solutions (Switzerland), Bystronic, Incorporation (The U.S.), Coherent Incorporation (The U.S.), OGI Systems Ltd.( Israel), Coborn Engineering Company Limited(U.K.), Rollomatic Inc.(The U.S), United Grinding GmbH(Germany), Kennametal, Inc.(The U.S) and ANCA(Australia) among others.
The global ultra hard material cutting machines market has been segmented into:
Ultra Hard Material Cutting Machines Market, by Type
- Electrical Discharge Machines (EDM)
- Laser Cutting Machines
Ultra Hard Material Cutting Machines Market, by Geography: The market is broadly segmented on the basis of geography into:
- North America
- The U.S
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America