Since the synthesis of the boron nitride in its cubic crystallographic structure, cBN, a material with exceptionally high hardness and special properties was developed for technical engineering applications. For practical use, cBN is, after diamond, the second known hardest material and is today being increasingly used as cutting and drilling tools in substitution for diamond-based tools owing to superior thermal stability and chemical inertness. In this study, the advances in the use of the cBN competing with diamond as a superhard industrial tooling for petroleum extraction, automobile manufacture and other engineering applications, was reviewed. The properties of both single crystals and polycrystalline cBN in the form of composites and thin films were assessed to characterize the possibilities of a next generation of superhard materials to replace diamond in tool and other technological devices.