Global Abrasives Market

Global Abrasives Market was valued at US$ XXBn in 2019 and is expected to reach US$ XXBn by 2027 at a CAGR of 6.1% during the forecast period.

The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global abrasives market dynamics, structure by identifying and analyzing the market segments and project the global market size.

Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global abrasives market.

Growing demand from automobile manufacturers, medical device manufacturers, and electronic equipment manufacturers drive the global abrasives market. Additionally, a rise in consumption of abrasives in cleaning applications and surface treatment, such as grinding, dimensioning, blending, finishing, shaping, and polishing, are some other key aspects that drive the growth of the abrasives market globally. However, strict government regulations on the extraction of natural abrasives and fluctuations in raw material costs hinder the market growth.

Coated abrasives sub-segment based on type dominates the market with over a third of the market share and is anticipated to witness moderate growth at a CAGR of 4.9% throughout the forecast period. They are made using aluminum oxide and silicon carbide minerals. The super abrasives segment accounted for 22% of the global abrasives market. The growing need for hard materials for high-quality surface finish, continuous innovations, and increasing preference for CNC machines are the factors accelerating the demand for super abrasives.

Metallic abrasives sub-segment based on material is the most prominent segment in terms of market size because of the high demand for abrasives in these sectors in response to growing industrialization in emerging markets.

The automotive segment is leading the abrasives market globally. Demand for the abrasive’s market was highest in 2017, representing approximately 40% of the market volume. They are used for lacquer sanding, coarse sanding, and repair sanding, and polishing in the industry. An extensive variety of sandpapers with grit numbers ranging from 24 to 2000 and above are presently in use within the automotive industry.

Region-wise, the Asia Pacific emerged as the major abrasives market because of the flourishing growth of various industries such as construction, electrical & electronics, and automotive. The Asia Pacific region accounted for around 65% of the overall value share in 2017 and is projected to reach US$ XX Mn and expected to reach a CAGR of 5.4% over the forecast period.

The demand for abrasives is expected to surge in different economies such as Japan, India, China, and the Rest of Asia Pacific owing to various government initiatives to increase the flow of FDI in the manufacturing sector. China accounts for the largest market value and is anticipated to retain its dominance over the assessment period with a healthy CAGR of 5.6%.

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Scope of Global Abrasives Market

Global Abrasives Market, by Material

• Natural
• Synthetic
• Metallic abrasives
• Aluminium oxide
• Silicon carbide
Global Abrasives Market, by Type

• Bonded abrasive
• Coated abrasive
• Super abrasive
Global Abrasives Market, by Product

• Dishes
• Cups
• Discs
• Cylinder
Global Abrasives Market, by End-Use Industry

• Automotive
• Machinery
• Metal fabrication
• Electrical & electronics equipment
Global Abrasives Market, by Region

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• South America
Key players operating in Global Abrasives Market

• Robert Bosch GmbH
• 3M Company
• Compagnie De Saint-Gobain S.A.
• Henkel
• Asahi Diamond Industrial
• Dowdupont
• Fujimi Incorporated
• Carborundum Universal
• Krebs & Riedel Schleifscheibenfabrik
• Deerfos
• Tyrolit Group
• Nippon Resibon Corporation
• Sankyo-Rikagaku
• Abrasiflex
• Noritake

This report submitted by Maximize market Research Company

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