Latin America Abrasives

Latin America Abrasives Market Research Report: Forecast (2023-2028)

By Type (Coated, Bonded, Super), By Raw Material (Synthetic, Natural), By End User (Construction, Industrial, Aerospace, Metal Fabrication, Automotive, Electrical & Electronics), By Country (Brazil, A Read more

  • Buildings, Construction, Metals & Mining
  • Nov 2022
  • 148
  • BM33017

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 used for polishing in order to gain smooth & reflective surfaces & also finds application in roughening materials to matte, satin, or beaded finishes.

Market Insights

The Latin America Abrasives Market is projected to grow at a considerable CAGR during the forecast period, i.e., 2023-28. Most of the market expansion across the region can be accredited to the countries like Argentina, Brazil, and Mexico owing to the growing automotive, aerospace, construction, and furniture industries here. It is primarily because these materials exhibit large-scale adoption in automotive components manufacturing, repair, and fabrication applications that include collision repair, mechanical repair, and custom paint facilities. Likewise, the utilization of abrasives in woodworking & fabrication for furniture, kitchen cabinets, and others has furthered the market ascension across the region. The abrasives application also involves metal fabrications, including light sheet metal fabrications, metal components, and metal casework. Other industries like Electrical Equipment (E&E) and machinery & electronics, among others, shall also demonstrate a rise in the demand for abrasives for grinding & polishing applications and further boost the industry across Latin American countries.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
Country Covered Brazil, Argentina, Mexico, Chile, Colombia, Rest of Latin America
Key Companies Profiled 3M Company, AA Argentine Abrasives SAIC, CARSIL ARGENTINA, German Abrasives SAS, Hilti Corporation, Klingspor Abrasivos SA, Robert Bosch GMBH, Saint-Gobain Abrasives, Inc. (Argentina), Telstar Abrasivos Ltda, Unibras, VSM Latin America SAS.
Unit Denominations USD Million

 

The market is further propelled by swift rise in the number of construction projects across the region, augmenting the demand for these materials & hinting toward an opportunistic industry future for the prominent players to expand their operational capacities. As such, companies are making strategic investments and collaborations strategies, thereby enhancing their product portfolio to create value chains across the region. For instance,

  • According to the United Nations COMTRADE database on international trade, the total import of Natural or Artificial Abrasive Powder (Base of Paper) by Argentina accounted for US$985.51 Thousand in 2021.

With major manufacturers like VSM Latin America SAS, Saint-Gobain Abrasives, Inc. (Argentina), 3M Company, and AA Argentine Abrasives SAIC, the market has witnessed gradual expansion in the past few years. This expansion owes to a varied product range, including cutting discs, conventional grinding wheels, others, and precise & comfortable solutions for polishing, shaping, and cutting all types of materials. These aspects are likely to accelerate the market for abrasives across Latin America during the forecast period.

Market Segmentation

Based on Type,

  • Coated
  • Bonded
  • Super

Among all, Coated Abrasives acquired the largest share in the Latin America Abrasives Market in the historical period. It owes principally to the wide adoption of coated abrasives in metal fabrication, consumer goods, hand & power tools, furniture, general engineering, & surgical products, among others. With materials like grains and bonded adhesives perfectly backing these abrasives, the market is likely to augment in the coming years. For instance,

  • Fandeli, one of the leading producers of coated abrasives in Mexico, has joined The National Hispanic Contractors Association (NAHICA) recently. This new partnership embarks the company’s arrival to the U.S. market after serving customers in Mexico.

Contrary to this, Bonded Abrasive is expected to contribute substantially to the market growth in the coming years with their remarkable composition suiting purposes like sanding & polishing metal products. This can be attributed to its outstanding binding qualities and extremely fine aluminum oxide composition.

Based on End User,

  • Construction
  • Industrial
  • Aerospace
  • Metal Fabrication
  • Automotive
  • Electrical & Electronics

Among all, Metal Fabrication is expected to demonstrate the fastest growth pace in the Latin America Abrasives Market during the forecast period. This growth lies in the remarkable potential of these materials in manufacturing metal structures through bending, cutting, & assembling processes. Additionally, these materials are used as cut-off saws because of the steel-cutting abrasive disks that carve the metal into the desired shape. Backed by the incorporation of abrasives in the metal fabrication of products like fiber & flap discs for grinding metals & blending surfaces, the demand for abrasives is exploding and bolstering the overall market growth in the forecast period.

Recent Developments in the Latin America Abrasives Market

  • June, 2022: Saint-Gobain Abrasives, Inc. announced its Norton Abrasive Process Solutions (APS) Program out of its grinding technology center. With this program, the company seeks to test and optimize new abrasive grinding and polishing techniques for customers, try out new & automated processes, and improve the quality and throughput for targeted applications.
  • September 2021: Norton|Saint-Gobain Abrasives launched the new BlueFire zirconia coated abrasives based on a fourth-generation zirconia abrasive grain, which combines the latest innovations and optimization of grain shape, fusion processing, and composition. In order to improve the resharpening and metal removal rates, the zirconia-alumina grain composition and shape, are finely tuned.
  • April 2021: The Vereinigte Schmirgel- und Maschinen-Fabriken (VSM) AG unveiled AK890Y abrasive belt from the VSM ACTIROX technology family. The product is likely to hit new benchmarks in terms of processing super alloys, stainless steels, and carbon steels when it comes to stock removal and grinding speeds.

Market Dynamics

Key Driver: Thriving Automotive Sector Pushes the Abrasive Industry

The market is likely to gain momentum with the wide application of abrasives demonstrated by the Automotive industry in recent years. These applications include repairing and maintaining autobody, interiors, and accessories. Abrasives also aid in sizing engine parts, deburring, smoothening welds, cleaning pipe interiors, and roughening or smoothening surfaces and edges. These materials, particularly coated abrasives, find broader applications across the automotive industry for grinding and finishing purposes. Thus, with expanding automotive sector with the substantial surge in car sales across Brazil, Argentina, and Mexico, the abrasives market is likely to thrive in the coming years.

Possible Restraint: Raw Material Depletion & Stringent Government Regulations for Abrasive Use

While abrasives are manufactured using numerous raw materials, such as aluminum oxide, cubic boron nitride, silicon carbide, ceramics, and synthetic diamond, procured from renewable resources like petroleum, the depletion of these resources is likely to limit the abrasive production. Besides, strict regulations set by numerous governments on restricting non-renewable resource usage have furthered the availability of these materials and hindered the Global Abrasives Market expansion in the coming years.

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 Latin America 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 Latin America Abrasives Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Latin America Abrasives Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Latin America Abrasives Market study?

Frequently Asked Questions

A. The Latin America Abrasives Market is projected to grow at grow at a considerable CAGR during 2023-28.

A. Most of the market expansion across Latin America can be accredited to the countries like Argentina, Brazil, and Mexico owing to the growing automotive, aerospace, construction, and furniture industries.

A. The top market players are 3M Company, AA Argentine Abrasives SAIC, CARSIL ARGENTINA, German Abrasives SAS, Hilti Corporation, Klingspor Abrasivos SA, Robert Bosch GMBH, Saint-Gobain Abrasives, Inc. (Argentina), Telstar Abrasivos Ltda, Unibras, VSM Latin America SAS, Others.

A. ‘Coated Abrasives’ is anticipated to emerge as an area of remunerative opportunities for the leading players in the Latin America Abrasives Market during the forecast period.

A. Raw material depletion paired with stringent government regulations for abrasive use are the possible restraints affecting the growth of the Latin America Abrasives Market during 2023-28.

  1. Market Segmentation
  2. Introduction
    1. Research Process
    2. Assumptions
    3. Market Definition
  3. Executive Summary
  4. Impact of COVID-19 on Latin America Abrasives Market
  5. Latin America Abrasives Market Trends & Insights
  6. Latin America Abrasives Market Dynamics
    1. Growth Drivers
    2. Challenges
  7. Latin America Abrasives Market Hotspot & Opportunities
  8. Latin America Abrasives Value Chain Analysis
  9. Latin America Abrasives Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues (USD Million)
    2. Market Share & Analysis
      1. By Type
        1. Coated
        2. Bonded
        3. Super
      2. By Raw Material
        1. Synthetic
        2. Natural
      3. By End User
        1. Construction
        2. Industrial
        3. Aerospace
        4. Metal Fabrication
        5. Automotive
        6. Electrical & Electronics
      4. By Country
        1. Brazil
        2. Argentina
        3. Mexico
        4. Chile
        5. Colombia
        6. Rest of Latin America
      5. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Metrix
  10. Brazil Abrasives Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By End User
  11. Argentina Abrasives Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By End User
  12. Mexico Abrasives Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By End User
  13. Chile Abrasives Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By End User
  14. Colombia Abrasives Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. Market Revenues
    2. Market Share & Analysis
      1. By Type
      2. By End User
  15. Latin America 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. 3M Company
      2. AA Argentine Abrasives SAIC
      3. CARSIL ARGENTINA
      4. German Abrasives SAS
      5. Hilti Corporation
      6. Klingspor Abrasivos SA
      7. Robert Bosch GMBH 
      8. Saint-Gobain Abrasives, Inc. (Argentina)
      9. Telstar Abrasivos Ltda
      10. Unibras
      11. VSM Latin America SAS
      12. Others
  17. Disclaimer
Latin America Abrasives Market Segmentation  Slide