Electroplated and Resin Diamond Wire Market Size, Share, Growth, And Industry Analysis, By Type (Electroplated Wire and Resin Wire), By Application (Solar Silicon Cutting, LED Sapphire Cutting and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

Electroplated And Resin Diamond Wire Market Report Overview

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The global electroplated and resin diamond wire market size was USD 8180.8 million in 2022 and is expected to reach USD 27031.8 million in 2031, exhibiting a CAGR of 14.2% during the forecast period.

Diamond wire cutting (DWC) is a technique for slicing through materials that involves employing wire of different diameters and lengths that has been impregnated with diamond dust of different sizes. Due to the extreme hardness of diamonds, practically any substance that is gentler than the diamond abrasive can be cut with this method.

Due to its use in cutting solar silicon, LED sapphire, and other materials, electroplated and resin diamond wire has experienced a significant uptick in demand worldwide. In terms of revenue in 2021, the solar silicon cutting sector dominated the industry as a whole. The increase in photovoltaic system adoption across several regions and the rising need for solar energy production are two factors that contribute to the expansion.

COVID-19 Impact: Halts in Production and End Use Sector Operations were Witnessed due to the Spread of the Virus

The global COVID-19 pandemic has been unprecedented and staggering, with the electroplated and resin diamond wire market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The market for electroplated diamond wire has been significantly disrupted by the COVID-19 outbreak throughout the whole supply chain. The end use sector's operations and manufacturing had stopped, which had an impact on the market. In 2020, the pandemic had a negative impact on the industry's overall growth. At the beginning of 2021, the sudden COVID-19 pandemic outbreak led to the implementation of strict lockdown regulations throughout many nations, which disrupted the import and export of diamond wire.

Latest Trends

"Development of Highly Functional Wire which is Used for Metal Forming Processes in Various Industries "

The key companies in this industry take a significant role in the launch of new products. Asahi Diamond, for instance, created this extremely useful electroplated and resin diamond wire guide in collaboration with producers of electrical discharge machining equipment. The accuracy of wire electrical discharge machining (EDM), a method used in many industries to produce metal, is dependent on the accuracy of the wire guides.

Electroplated And Resin Diamond Wire Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Electroplated Wire and Resin Wire

• By Application Analysis

Based on application, the market can be divided into  Solar Silicon Cutting, LED Sapphire Cutting and Others

Driving Factors

"Unique Set of Benefits Offered by the Diamond Wire make it More Suitable to Utilize as Compared to Traditional Cutting Methods"

There are several types of electroplated and resin diamond wire, and each has a special set of advantages for different applications. Diamond cutting provides high-speed cutting in contrast to conventional cutting techniques. When cutting composite materials, diamond cutting is more efficient and gentler than other cutting techniques. Diamond wire is used to make precise cuts.

"Demand from the Construction and Electronic Industry is Creating Awareness and Requirement for the Diamond Wires "

The need for wires from the construction and electronic industries initially drives the diamond business. Compared to conventional cutting techniques, the wires are more effective at cutting. The market for electroplated and resin diamond wire is driven by the high uniformity of cutting in a short amount of time with high effectiveness. Consumers expanding along with modernization and building activities are accelerating the expansion of the diamond wire market. Diamond wire is becoming more and more popular as a result of increased overuse of electronics, appliances, and semiconductors.

Restraining Factors

"Multiple Disadvantages Associated with the Wire can Potentially Hinder the Market Thriving"

Despite the fact that electroplated diamond wire has a lot of benefits, it also has certain disadvantages. The inefficiency of diamond wire after a limited number of cuts is one of these drawbacks, preventing the market from growing in comparison to the use of substitute materials. Additionally, it has been determined that the high cost of diamond wire and diamond wire cutting tools is a hindrance to the electroplated and resin diamond wire market growth in price-sensitive regions.

Electroplated And Resin Diamond Wire Market Regional Insights

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"Asia Pacific to Lead the Market due to Increase in Demand from End-Users and Rising Disposable Income in the Region"

In terms of sales volume and revenue, the Asia-Pacific region led the global market. Due to rising demand from end-use businesses including those producing electronics, solar energy, medical equipment, and others, the region is predicted to experience significant growth. Further growth in the regional market is predicted to be fueled by rising disposable income and expanding consumer awareness of energy conservation. These factors have fueled the Asia Pacific to lead in the electroplated and resin diamond wire market share.

Because of the high product demand from numerous end-use industries, such as solar silicon cutting applications for LED lighting applications in the United States, Canada, and Mexico for both domestic consumption and exports throughout the world, North America was valued at USD X million in 2021.

Key Industry Players

"Key Players are Focusing on Organic and Inorganic Growth Strategy Methods to Expand their Business and Customer Base"

Different businesses are concentrating on organic growth strategies like product launches, product approvals, and others like patents and events. A number of inorganic growth strategies were used in the market, including partnerships, acquisitions, and collaborations. The expansion of the companies' operations and clientele of market participants has been made possible by these activities. Because of the increasing demand for electroplated and resin diamond wire, market players in this industry can expect to enjoy prosperous growth opportunities in the future.

List of Market Players Profiled

• Asahi Diamond (Japan)
• Nakamura Choukou (Japan)
• Diamond Pauber (Italy)
• SCHMID (Germany)
• Diamond WireTec (Germany)
• READ (China)
• ILJIN Diamond (South Korea)
• Logomatic (Germany)
• Noritake (Japan)
• Nanjing Sanchao (China)
• A.L.M.T. (Japan)
• Sino-Crystal Diamond (China)
• Henan Yicheng (China)
• Tony Tech (China)
• Metron (China)
• DIALINE New Material (China)

Report Coverage

This report covers the electroplated and resin diamond wire market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.