In response to the market demand for global CBN abrasives, industry veterans have given the following analysis based on market conditions in recent years. A report published in the "Global Industry Analysis" in early 2009 predicts that by 2012, the global market demand for cubic boron nitride (CBN) abrasives will reach $194 million, which is the average between 2008 and 2012. The compound annual growth rate (CAGR) reached 3.6%. Among them, the demand for CBN abrasives in the Asia Pacific region grew the fastest, and the CAGR reached 5.2% during this period. Japan is the main regional market for CBN abrasives, and the market demand in 2008 is expected to be 42.2 million US dollars. Although the current economic situation will certainly have an impact on the above forecast, the report entitled “Global Strategic Business Report: CBN Abrasives†is still very meaningful for determining the recent trend of CBN. The report shows that in some major industries, the use of CBN will increase. The report also provides a comprehensive review of CBN's global key markets, product innovations and recent industry activities, including the United States, Canada, Japan, France, Germany, the United Kingdom, Italy, Spain, Russia, Asia Pacific (excluding Japan), the Middle East, Market data and sales in Latin America and the rest of the world. The end-user segmentation industry analyzed includes automotive, aerospace, bearings, tooling, gears, etc., as well as CBN applications in home appliances, hydraulics, medical equipment and other fields. According to the report, CBN is becoming the abrasive of choice for most grinding applications because it helps to achieve precise geometry and size, better surface finish and surface integrity, and reduced processing time. Because it is very suitable for use on CNC grinding machines, its use is increasing. In order to take full advantage of the advantages of CBN grinding and obtain better surface finish, structural integrity and longer service life, more and more car manufacturers have chosen CBN grinding wheels to replace traditional abrasive grinding wheels. Although the hardness of CBN is second only to diamond, the excellent performance of CBN superabrasives has not been fully utilized due to the lack of understanding and understanding of many people, its high cost and common concerns about adopting a new product. However, this situation is changing, mainly due to the development of various CBN grinding systems that improve grinding efficiency, increase machine run time, and shorten grinding cycles, as well as improvements in CBN grinding wheel materials. During the reporting period (2008-2012), the automotive industry remained the main end-user segment of the CBN abrasives industry (more than 27% of the global demand for CBN abrasives) and key growth areas (expected to be available at the highest level) 4.3% CAGR growth opportunities). Of course, the decline in global car sales will reduce the forecast.
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