Abrasives Market
Global Abrasives Market Size, Share & Trends Analysis Report by Raw Material (Natural Abrasives, Synthetic Abrasives), By Product Type (Bonded, Coated, and Super), By End-User Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electrical & Electronics Equipment, Other) Forecast Period 2021-2027 Update Available - Forecast 2024-2030
The global abrasives market is anticipated to grow at a considerable CAGR of 3.8% during the forecast period (2021-2027). The growing automotive, metal fabrication, machinery, electronics, electrical, medical, and construction industries across the globe are driving demand for abrasives which in turn is driving the global abrasives market. According to the IBEF, the manufacturing industry of India has the potential to reach $ 1 trillion by 2025. In 2014, the government of India has initiated “Make in India” initiative to promote the manufacturing industry of India. Manufacturing industry has high demand for the super abrasives for the product finishing application. Therefore, the Government initiatives to promote manufacturing industry in the developing economies such as India & China are further contributing to the market growth. However, factors such as uncertainty in economic conditions and fluctuating raw material costs may hinder the growth of the global abrasives market.
Impact of COVID-19 Pandemic on Abrasives Industry
The abrasive industry has been negatively impacted by the COVID-19 pandemic. According to the OICA, automobile production has declined by around 16% in 2020 compared to 2019.Halt in production process of several industries such as automotive, metal fabrication, and machinery among others to limit the spread of COVID-19 pandemic has led to slight decline in the demand for abrasives. However, with the becoming situation, rapid recovery in construction industry is anticipated to promote the market growth during the forecast period.
Segmental Outlook
The report on global abrasives market covers segments including raw material, product type, and application. Based on raw material, the global abrasives market is segmented into natural abrasives and synthetic abrasives. Based on product type, the market is segmented into bonded abrasives, coated abrasives, and super abrasives. Based on end-user industry, the market is segmented into automotive, machinery, aerospace, metal fabrication, electrical & electronics equipment, and other.
Global Abrasives Market Share by End-User Industry, 2020 (%)
Automotive held the significant share in the Market
Based on end-user industry, automotive held major market share in the abrasives market. Abrasive are used extensively in the automotive industry for machining of several driveline, suspension, body and chassis components. Conventional abrasives and superabrasives are the two major abrasives used for grinding operations in the automotive industry. Conventional abrasives include aluminum oxide (Al2O3) ceramic alumina, silicon carbide and zirconia alumina. Superabrasives include diamond or cubic boron nitride (cBN). The growing automotive industry across the globe is further adding to the growth of this market segment.
Regional Outlooks
The global abrasives market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific held considerable share in the abrasives market in 2020. The growing demand for abrasives in machinery & metal fabrication industries in developing economies owing to rapid industrialization is a key factor driving the growth of the regional market. According to the Invest India, India is projected to be the third-largest automotive market across the globe in terms of volume by 2026. The industry currently manufactures 26 million vehicles including passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycles in April-March 2020. The growing automotive industry in India is expected to promote the growth of the Asia-Pacific abrasives market.
Global Abrasives Market Growth, by Region 2021-2027
North America is projected to have considerable share in the global abrasives market
North America is anticipated to exhibit considerable growth in the global abrasives market. The growing product demand from the automotive and aerospace & defense industries across the US are a key factor creating demand for abrasives market. The significant growth in the metal fabrication industries across the region is expected to offer growth opportunities to the product manufacturers. For instance, in July 2020, Sargent Metal Fabricators Inc. has invested $9.5 million in its production plant to expand operations in South Carolina, the US to cater to the growing customer demand.
Market Players Outlook
The key players that are contributing significantly to the growth of the global abrasives market include 3M Company, Asahi Diamond Industrial Co., Ltd., Carborundum Universal Ltd., Deerfos Co., Ltd., Fujimi Inc., and Tyrolit Group among others. These players are adopting different growth strategies such as investment in new product launches, mergers and acquisition, partnership, and collaboration, among others to expand their footprints in the global marketplace.
Recent Development
- In July 2021, Saint-Gobain Abrasives has introduced over ten new Farécla compounds and wool pads. The expanded Farécla line of polishing compounds and surface finishing products includes cutting, polishing, and finishing compounds, as well as application accessories that are designed to enhance the level of shine on painted surfaces, gel coats, and wood lacquers.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global abrasives market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Abrasives Industry
• Recovery Scenario of Global Abrasives Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Trade Analysis
2.3. Analyst Insight & Current Market Trends
2.3.1. Key Findings
2.3.2. Recommendations
2.3.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Impact of COVID on key players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Abrasives Market by Raw Material
5.1.1. Natural
5.1.2. Synthetic
5.2. Global Abrasives Market by Product Type
5.2.1. Coated
5.2.2. Bonded
5.2.3. Super
5.3. Global Abrasives Market by End-User Industry
5.3.1. Automotive
5.3.2. Machinery
5.3.3. Aerospace
5.3.4. Metal Fabrication
5.3.5. Electrical & Electronics Equipment
5.3.6. Other
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. 3M Company
7.2. Abrasiflex Pty Ltd.
7.3. Asahi Diamond Industrial Co., Ltd.
7.4. Carborundum Universal Ltd.
7.5. Deerfos Co., Ltd
7.6. Flexovit
7.7. Fujimi Inc.
7.8. Henkel Ag & Co. Kgaa
7.9. Hindustan Abrasives
7.10. Nippon Resibon Corp.
7.11. Noritake Co. Ltd.
7.12. Orient Abrasives
7.13. Robert Bosch Gmbh
7.14. Saint-Gobain Abrasives, Inc.
7.15. SAK Industries
7.16. Sankyo-Rikagaku Co., Ltd.
7.17. Sterling Abrasives Ltd. (SAL)
7.18. Tyrolit Group
7.19. Welcast Steels Ltd.
7.20. Wendt India Ltd.
1. GLOBAL ABRASIVES MARKET BY RAW MATERIAL, 2020-2027 ($ MILLION)
2. GLOBAL NATURAL ABRASIVES MARKET BY REGION, 2020-2027 ($ MILLION)
3. GLOBAL SYNTHETIC ABRASIVES MARKET BY REGION, 2020-2027 ($ MILLION)
4. GLOBAL ABRASIVES MARKET BY PRODUCT TYPE, 2020-2027 ($ MILLION)
5. GLOBAL COATED ABRASIVES MARKET BY REGION, 2020-2027 ($ MILLION)
6. GLOBAL BONDED ABRASIVES MARKET BY REGION, 2020-2027 ($ MILLION)
7. GLOBAL SUPER ABRASIVES MARKET BY REGION, 2020-2027 ($ MILLION)
8. GLOBAL ABRASIVES MARKET BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
9. GLOBAL ABRASIVES FOR AUTOMOTIVE MARKET BY REGION,2020-2027 ($ MILLION)
10. GLOBAL ABRASIVES FOR MACHINERY MARKET BY REGION,2020-2027 ($ MILLION)
11. GLOBAL ABRASIVES FOR AEROSPACE MARKET BY REGION,2020-2027 ($ MILLION)
12. GLOBAL ABRASIVES FOR METAL FABRICATION MARKET BY REGION,2020-2027 ($ MILLION)
13. GLOBAL ABRASIVES FOR ELECTRICAL & ELECTRONICS EQUIPMENT MARKET BY REGION,2020-2027 ($ MILLION)
14. GLOBAL ABRASIVES FOR OTHER INDUSTRIES MARKET BY REGION,2020-2027 ($ MILLION)
15. GLOBAL ABRASIVES MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2020-2027 ($ MILLION)
16. NORTH AMERICAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL, 2020-2027 ($ MILLION)
17. NORTH AMERICAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
18. NORTH AMERICAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
19. NORTH AMERICAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
20. EUROPEAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL, 2020-2027 ($ MILLION)
21. EUROPEAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
22. EUROPEAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
23. EUROPEAN ABRASIVES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
24. ASIA-PACIFIC ABRASIVES MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL, 2020-2027 ($ MILLION)
25. ASIA-PACIFIC ABRASIVES MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
26. ASIA-PACIFIC ABRASIVES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
27. ASIA-PACIFIC ABRASIVES MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2020-2027 ($ MILLION)
28. REST OF THE WORLD ABRASIVES MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL, 2020-2027 ($ MILLION)
29. REST OF THE WORLD ABRASIVES MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2020-2027 ($ MILLION)
30. REST OF THE WORLD ABRASIVES MARKET RESEARCH AND ANALYSIS BY END-USER INDUSTRY, 2020-2027 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL ABRASIVES MARKET, 2020-2027 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL ABRASIVES MARKET BY SEGMENT, 2020-2027 ($ MILLION)
3. RECOVERY OF GLOBAL ABRASIVES MARKET, 2021-2027 (%)
4. GLOBAL ABRASIVES MARKET SHARE BY RAW MATERIAL, 2020 VS 2027 (%)
5. GLOBAL ABRASIVES MARKET SHARE BY PRODUCT TYPE, 2020 VS 2027 (%)
6. GLOBAL ABRASIVES MARKET SHARE BY END-USER INDUSTRY, 2020 VS 2027 (%)
7. GLOBAL ABRASIVES MARKET SHARE BY GEOGRAPHY, 2020 VS 2027, (%)
8. GLOBAL NATURAL ABRASIVES MARKET BY REGION, 2020 VS 2027 (%)
9. GLOBAL SYNTHETIC ABRASIVES MARKET BY REGION, 2020 VS 2027 (%)
10. GLOBAL COATED ABRASIVES MARKET BY REGION, 2020 VS 2027 (%)
11. GLOBAL BONDED ABRASIVES MARKET BY REGION, 2020 VS 2027 (%)
12. GLOBAL SUPER ABRASIVES MARKET BY REGION, 2020 VS 2027 (%)
13. GLOBAL ABRASIVES FOR AUTOMOTIVE MARKET BY REGION, 2020 VS 2027 (%)
14. GLOBAL ABRASIVES FOR MACHINERY MARKET BY REGION, 2020 VS 2027 (%)
15. GLOBAL ABRASIVES FOR AEROSPACE MARKET BY REGION, 2020 VS 2027 (%)
16. GLOBAL ABRASIVES FOR METAL FABRICATION MARKET BY REGION, 2020 VS 2027 (%)
17. GLOBAL ABRASIVES FOR ELECTRICAL & ELECTRONICS EQUIPMENT MARKET BY REGION, 2020 VS 2027 (%)
18. GLOBAL ABRASIVES FOR OTHERS MARKET BY REGION, 2020 VS 2027 (%)
19. US ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
20. CANADA MARKET ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
21. UK ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
22. GERMANY ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
23. SPAIN ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
24. FRANCE ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
25. ITALY ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
26. REST OF EUROPE ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
27. INDIA ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
28. CHINA ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
29. JAPAN ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
30. REST OFASIA-PACIFIC ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
31. REST OF WORLD ABRASIVES MARKET SIZE, 2020-2027 ($ MILLION)
