According to a study published by Insure Insights, the global diamond tools market is anticipated to grow at a CAGR of 7.2% during the forecast period. Diamond tools are the kind of cutting tools with diamond speck integrated to the serviceable parts of the tool via bonding substances or other. These cutting tools have exceptional characteristics, such as resistance to heat, sharpness in cutting edge, excessive hardness, and superior thermal conductivity. Diamond cutting tools are widely employed in industries such as the geological prospecting industry, stone processing industry, machining, and transportation industry.

Top Driver: Extensive Employment in Optical Industries and Extended Application

The diamond tools market is estimated to grow due to its extensive employment in optical industries for cutting lenses, mirrors, and other glasses. Diamond geological drill bits and diamond oil drills are utilized in mining and oil & gas industries, thereby boosting the demand of the market. The growing demand in construction activities for the diamond saw blades is also fueling for the market growth. Moreover, the tools in woodworking, engineering ceramic, auto spare processing, IT and home appliances products, processing, and mechanical industries are having broad applications, driving the market demand.

Construction Segment Estimated to Witness Significant Growth in the Coming Years

Based on the industry, the global diamond tool market has been segmented construction industry, transportation industry, stone processing industry, and others. Among these, construction segment is estimated to grow at a significant pace in the forecast period due to the rising construction activities across the world. Based on the product, the market has been segmented into diamind sawing tools, diamond drilling tools, diamond cutting tools, and abrasive type.

Rising Construction Activities to Benefit North America Market

North America holds the largest market share in the global diamond tools market and is estimated to continue to dominate the market in the forecast period. The growth is attributed to the factors such as increase in construction activity in the region and rapid proliferation of automotive industry., robust governmental initiatives and ongoing projects will propel the market in this region.

Players to Focus on Diamond tool market

The global diamond tool market is estimated to stay fragmented during the forecast period owing to the possible new entrants, Major key players operating in the global diamond tool are Asahi Diamond Industrial, Husqvarna AB, Tyrolit, Ehwa, Hilti, ICS, Blount, Bosun, Saint Gobain, Disco, Hebei XMF Tools, Gangyan Diamond, Reliable Diamond Tool

Blount International: In October 2018, Blount International announced that it has acquired Merit Engineering and Equipment Company (“Merit”). The Merit brand of concrete cutting products and their manufacturing facility will be integrated into Blount’s Concrete Cutting and Finishing (“CCF”) business unit. CCF manages the ICS® brand of concrete cutting equipment and is the exclusive distributor of Pentruder® wall saws and wire saws in the America.

Husqvarna AB: Husqvarna Group’s Construction division acquired Diamond Tool Supply Inc. out of Michigan, USA, a leading producer of polishing and grinding diamond tools for concrete, stone and terrazzo. The acquisition is aimed to reinforce Husqvarna’s position as a market leader of complete solutions for the construction grinding and polishing industry.

Scope of the Report)

By Product

• Diamond Sawing tools
• Diamond Drilling Tools
• Diamond Cutting Tools
• Abrasives Type

By Industry

• Construction Industry
• Stone processing industry
• Transportation
• Others

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.