Abrasives

Abrasives Market Research Report: Forecast: (2022-2027)

By Type (Coated Abrasive, Bonded Abrasive [By Bonding Agents {Vitreous, Resin, Metal Bonded, Electroplated, Rubber, Others}], Super Abrasive), By Raw Material (Synthetic [Aluminum oxide, Metallic abra Read more

  • Buildings, Construction, Metals & Mining
  • Aug 2022
  • 187
  • BM33006

Market Definition

Abrasives are materials that grind away elements like concrete, wood, ceramic, stone, & mineral, among others, and offer an elegant, sleek, & finished look to the finished product. Abrasion is majorly in polishing for a smooth & reflective surface & also finds application in roughening materials to matte, satin, or beaded finishes.

Market Insights

The Global Abrasives Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2022-27. The market is driven by the swift rise in the number of construction projects across different corners of the world, augmenting the demand for these materials & hinting toward an opportunistic industry future for the prominent players to expand their operational capacities.

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR (2021-2026) 6%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France, Italy, Spain
Asia-Pacific: China, India, Japan, South Korea
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Algeria, Morocco
Key Companies Profiled Robert Bosch GMBH, 3M Company, Saint-Gobain Abrasives, Inc., Fujimi Incorporated, Asahi Diamond Industrial Co., Ltd., Cumi Murugappa Group (Carborundum Universal Limited), Mirka Ltd., Henkel AG & Co. KGaA, Nippon Resibon Corporation, Sankyo Rikagaku Co., Ltd., Noritake Co. Ltd., Tyrolit Group, Boride Engineered Abrasives, Flexovit USA, Inc., Abrasive Technology
Unit Denominations USD Million/Billion

 

Other industries like metal fabrication, automotive, Electrical Equipment (E&E), and machinery and electronics, among others, shall also demonstrate a rise in the demand for abrasives for grinding & polishing applications and further boost the industry across the globe.

Moreover, these materials are also used in manufacturing automotive components to modify operating parameters like reducing noise levels & engine carbon dioxide emissions & others. With such expansive use of abrasives across different industries, the industry shall grow rapidly in the coming years.

Furthermore, since abrasives are used in the construction industry for woodworking & fabrication, metal components, metal fabrications, and numerous other uses, their demand is propelling, particularly across various developing countries. For instance:

  • Industrial production across Vietnam hiked considerably in 2020 from 2019. The country gained popularity for investments in Asia and compact manufacturing post the US-China trade war. With the critical need to bring developments in the manufacturing sector of the country, the demand for machinery has escalated, making a direct influence on the need for abrasives. 

Key Trend in the Global Abrasives Market

  • Infrastructural Development Expanding Construction Industry Boosting Abrasive Demand

As most countries are focusing on the infrastructure development of their country across diverse sectors like commercial, residential, and industrial areas and up-surging the number of projects, the demand for abrasives shall witness a hike and make a direct & positive influence on the market growth.

These projects include the construction & development of commercial areas like airports, shopping malls, railway stations, highways, roads, and tunnels, alongside industrial construction for manufacturing plants, steel & mining industries, metal fabrication projects, and residential sectors witnessing a rise in the development & construction of smart cities, rural development, and more.

Abrasives Market Research Report: Forecast: (2022-2027)

Market Segmentation

Based on Application:

  • Machinery
  • Aerospace
  • Metal Fabrication
  • Automotive
  • Electrical & Electronics

Here, Metal Fabrication is anticipated to exemplify the fastest growth pace in the Global Abrasives Market during the forecast period. This growth is driven by the capabilities of these materials to manufacture metal structures through bending, cutting, & assembling processes. In addition, these materials are also used as cut-off saws owing to the steel-cutting abrasive disks that help in cutting metals into the desired shape. 

Abrasives are also used in the metal fabrication of products like fiber & flap discs for grinding metals & blending surfaces. Backed by such uses, the demand for abrasives is exploding for metal fabrication and boosting the overall market growth. 

On the other hand, Electrical & Electronics are set to make significant contributions to the growth of the Global Abrasives Market during the forecast period. This growth attributes to the easy availability of new & attractive materials for wire insulation & blending in the electrical segment. It, in turn, hints toward the presence of lucrative opportunities for the players, instigating them to expand their production & distribution capacities and cater to the burgeoning demands globally. 

Based on Type:

  • Coated Abrasive
  • Bonded Abrasive

Between the two, Coated Abrasives dominated the Global Abrasives Market with the largest share in the previous years and shall prevail in the same trend during the forecast period. This dominance attributes to the wide application of coated abrasives in consumer goods, fabrication, hand & power tools, furniture, general engineering, & surgical products, among others, due to the presence of backing materials like grains & a bonded adhesive, propelling its demand. For instance:

  • In March 2020, prominent player Cumi Murugappa Group (Carborundum Universal Limited) invested substantial money to double its installed capacity for coated abrasives and cater to the growing demand across both domestic & international markets.

On the other hand, Bonded Abrasive is set to make a considerable contribution to the market growth during the forecast period. It owes principally to the composition of these materials, exhibiting binders, and very fine aluminum oxide abrasive, for purposes like sanding & polishing metal products.

Backed by the growing demand for these abrasives across the automotive & electrical & electronics industries, the market is set to observe considerable growth in the coming years. As these materials come in the form of grinding wheels or rectification tools and are widely used to shape fragile or hard materials in industries like the automotive & construction industry, ceramic compounds, & others, their demand is likely to remain prevalent in the coming years. 

Regional Projection

On the geographical front, the Global Abrasives Market expands across:

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Among all, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. It owes principally to the expansive automotive industry entwined with the growing number of construction activities across different countries in the region, propelling the demand for abrasives and generating lucrative opportunities for the players to increase their production & distribution capacities to cater to the burgeoning requirements.  

Likewise, Europe is anticipated to make a substantial contribution to the market expansion. The region is a hub for automobile production, owing to which, the procurement of abrasives is massive, making the region a prominent consumer of these materials. Moreover, stringent regulations by the automakers to incure high-level cleaning & maintenance services for automobiles are also boosting the market growth in Europe.

On the other hand, North America is expected to demonstrate the fastest growth in the Global Abrasives Market during the forecast period. This growth attributes to the rapid development in precision tooling & machine component manufacturing, especially across countries like the US & Canada, promulgating the demand for abrasives and stimulating the industry throughout the region. 

Nonetheless, Middle East & Africa is projected to exemplify substantial growth for the market and a presence of lucrative opportunities for the leading players during the forecast period. This growth is primarily driven by the massive construction projects throughout the region, showcasing an every-growing demand for abrasives. It, in turn, is also generating growth opportunities for the leading players to increase their production & distribution capacities to cater to the rising requirements across the region. 

Recent Developments in the Global Abrasives Market

  • In May 2021, prominent player Saint-Gobain Abrasives launched a proprietary nano-crystalline ceramic grain called Norton Quantum Prime Grinding Wheels to offer exceptional productivity benefits in diverse applications.
  • In December 2020, prominent player Nippon Paint India, a part of NIPSEA Group, broadcasted the elaboration of its product line n-Force for the automotive industry for best-in-class solutions, where these ranges comprise abrasives, rubbing compounds, and waxes & polishes. 
  • Back in September 2018, another player, Mirka, introduced two new families of paper and film-backed abrasives, called Mirka Iridium & Novastar, in its new coating technology, for wood, automotive refinishing, & manufacturing industries.

Market Dynamics

Key Driver

  • Automotive Industry Propelling the Demand for Abrasives 

Since abrasives find substantial application across the automotive industry for repairing engine parts sizing, auto body, and interior & exterior cleaning, among other applications, their demand is hiking across the world. In fact, these materials are also used for cleaning the insides of components like pipes, smooth welds, edges, & surfaces for fitting, oiling, polishing, or painting. Such applications are augmenting the demand for abrasives across the automotive industry and driving the industry through 2027. 

Possible Restraint

  • Unavailability of Raw Material & Stringent Government Regulations for Abrasive Use

While abrasives are developed from different raw materials, where the common raw materials are aluminum oxide, cubic boron nitride, silicon carbide, ceramics, and synthetic diamond, procured from renewable resources like petroleum, the depletion of these resources is causing a shortage of abrasive production.

Additionally, strict regulations set by the governments of different countries on confining the use of non-renewable resources are further limiting the availability of these materials and negatively impacting the Global Abrasives Market expansion. 

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Abrasives Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Abrasives Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Abrasives Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Abrasives Market study?

Frequently Asked Questions

A. The Global Abrasives Market is projected to grow at a CAGR of around 6% during 2022-27.

A. Coated Abrasive is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Abrasives Market during the forecast period.

A. The top players in the Global Abrasives Market are Robert Bosch GMBH, 3M Company, Saint-Gobain Abrasives, Inc., Fujimi Incorporated, Asahi Diamond Industrial Co., Ltd., Cumi Murugappa Group (Carborundum Universal Limited), Mirka Ltd., Henkel AG & Co. KGaA, Nippon Resibon Corporation, Sankyo Rikagaku Co., Ltd., Noritake Co. Ltd., Tyrolit Group, Boride Engineered Abrasives, Flexovit USA, Inc., and Abrasive Technology, Inc.

A. “Asia-Pacific” would offer substantial growth prospects in the Global Abrasives Market during 2022-27.

A. The growing number of infrastructural development projects are demonstrating a swift expansion of the construction industry, which in turn, is boosting the demand for abrasives, and emerging as a key trend in the Global Abrasives Market through 2027.

A. The unavailability of raw material & stringent government regulations for abrasive use are the aspects that might restrain the fledged growth of the Global Abrasives Market through 2027.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Abrasives Market
  5. Global Abrasives Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
        1. Coated Abrasive
        2. Bonded Abrasive
          1. By Bonding Agents
            1. Vitreous
            2. Resin
            3. Metal Bonded
            4. Electroplated
            5. Rubber
            6. Others
        3. Super Abrasive
      2. By Raw Material
        1. Synthetic
          1. Aluminum oxide
          2. Metallic abrasives
          3. Silicon carbide
          4. Others
        2. Natural
      3. By Application
        1. Machinery
        2. Aerospace
        3. Metal Fabrication
        4. Automotive
        5. Electrical & Electronics
        6. Others
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      5. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Metrix
  6. North America Abrasives Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Raw Material
      3. By Application
      4. By Country
        1. The US Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        2. Canada Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        3. Mexico Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
  7. South America Abrasives Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Raw Material
      3. By Application
      4. By Country
        1. Brazil Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        2. Argentina Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        3. Rest of South America
  8. Europe Abrasives Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Raw Material
      3. By Application
      4. By Country
        1. Germany Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        2. The UK Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        3. France Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        4. Italy Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        5. Spain Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        6. Rest of Europe
  9. Middle East & Africa Abrasives Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Raw Material
      3. By Application
      4. By Country
        1. UAE Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        2. Saudi Arabia Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        3. South Africa Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        4. Algeria Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        5. Morocco Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        6. Rest of Middle East & Africa
  10. Asia-Pacific Abrasives Market Outlook, 2017-2027
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Raw Material
      3. By Application
      4. By Country
        1. China Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        2. India Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        3. Japan Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        4. South Korea Abrasives Market Outlook, 2017-2027
          1. Market Size & Analysis
            1. Market Revenues
          2. Market Share & Analysis
            1. By Type
            2. By Raw Material
            3. By Application
        5. Rest of Asia-Pacific
  11. Global Abrasives Value Chain Analysis
  12. Global Abrasives Market Trends & Insights
  13. Global Abrasives Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  14. Global Abrasives Market Hotspot & Opportunities
  15. Global Abrasives Market Key Strategic Imperatives for Success & Growth
  16. Competition Outlook (Whichever Applicable)
    1. Competition Matrix
      1. Target Markets
      2. Research & Development
      3. Collaborations & Strategic Alliances
      4. Key Business Expansion Initiatives
      5. Business Restructuring- Mergers, Acquisitions, JVs
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Robert Bosch GMBH 
      2. 3M Company
      3. Saint-Gobain Abrasives, Inc.
      4. Fujimi Incorporated
      5. Asahi Diamond Industrial Co., Ltd.
      6. Cumi Murugappa Group (Carborundum Universal Limited)
      7. Mirka Ltd.
      8. Henkel AG & Co. KGaA
      9. Nippon Resibon Corporation
      10. Sankyo Rikagaku Co., Ltd.
      11. Noritake Co. Ltd.
      12. Tyrolit Group
      13. Boride Engineered Abrasives
      14. Flexovit USA, Inc.
      15. Abrasive Technology, Inc.
  17. Disclaimer
Global Abrasives Market Segmentation