Ongoing escalation across the construction industry coupled with the rising demand for consumer goods will stimulate the global abrasives industry
The Global Abrasives Market size is projected to reach around USD 70 billion by 2025. Abrasives are the materials that are used for cleaning and polishing the surface in order to provide apt shape and finish to the end material. Abrasives are made from two types of materials, including synthetic abrasives and natural abrasives. The abrasive material is made of different type that are used for cleaning and finishing purpose depending on the properties of surface and abrasive material. The rising inclination for improved aesthetic appearance of the surface for various end user products through improved abrasive material is driving the industry landscape.
Over the years, development across manufacturing sector and advancement across various industries have led to the high demand for abrasive material. In addition, flourishing automotive sector owing to rising penetration of electric vehicle coupled with rising demand for high performance vehicle is escalating the industry size. Furthermore, the growing industry efforts to develop the composed material comprising improved strength, enhanced hardness, and long operational life will drive the business outlook in the coming years.
The report also throws light on various aspects of the global abrasives industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the Abrasives industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The abrasives market holds a strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The abrasives market is categorized into bonded, coated, superabrasive, and others on the basis of type. The bonded segment is expected to expand at a growth rate of around 6% over the forecast period on account of its rising demand of automobile. The bonded are used for grinding of disc and wheels, which in turn are expected to catapult the segment growth over the forecast timeframe.
North America is expected to witness a significant CAGR in the coming years. The ongoing development of sophisticated machine part and precision tooling production units across the region is positively impacting the industry size. In addition, positive outlook toward electric vehicle and high performing vehicle along with the rising inclination toward aesthetic appearance of the final product is projected to favor the business outlook over the forecast timeframe.
The major players operating across the global Abrasives market include Robert Bosch, 3M, DuPont., Saint-Gobain, Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit Group, Asahi Diamond Industrial Co., Ltd., and Deerfos Co., Ltd, including others. The industry for abrasives is integrated with the participation of established global players across the globe. In addition, these companies are focusing on expanding their footprint through implementation of inorganic as well as organic strategies which in turn is proliferating the business outlook.
Segment overview of Abrasives market
- Material Overview, 2018-2025, (USD Billion and kilotons)
- End Use Overview, 2018-2025, (USD Billion and kilotons)
- Metal Fabrication
- Electrical & Electronics
- Type Overview, 2018-2025, (USD Billion and kilotons)
- Regional Overview, 2018-2025, (USD Billion and kilotons)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
- North America