Abrasives Market Estimated to Record Highest CAGR by 2027

The Global Abrasives Market is estimated to reach USD 45.1 Billion by 2024 at a CAGR of 6.42 %.

Abrasives are referred to as the quality of material, usually, a mineral which is utilized to shape or finish work pieces through polishing and rubbing. They are extensively used in a wide range of industries, technologies and domestic applications in the process such as cutting, drilling, honing, lapping, buffing, sharpening, amongst others. Hardness is one of the important properties required in abrasives materials and hardness should be greater than the substance of material that is been worked. Additionally, toughness (or rigidity), grain shape & size, the character of fracture, and purity are some of the other properties of abrasives taken into consideration.

Abrasives Market: Drivers & Restraints

Market Drivers:

Rise in Construction Industry

Abrasives are being used in the construction of bridges and buildings where metalworking applications such as wed preparation or smoothing of welding seams. Additionally, abrasives in construction buildings are used in floor, ramps, steps, and stairways which are subject to slipping hazards. Likewise, many materials used in constructions are been shaped by mechanical methods and abrasive methods such as grinding, lapping, polishing, and amongst others. The construction industry is expected to bloom during the forecast period owing to factors such as a rise in disposable income, increasing urbanization, self-reliant construction culture, and amongst others. Thus, growth in the construction industry is expected to boost product market growth during the forecasted period.

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Increase in adoption for Digitalization

Digital transformation has continued impacting the organization and is expected to rise in the coming years. Increasing investment, initiatives of the executives, IoT, and artificial intelligence and amongst others are some of the factors expected to boost the demand for digitalization. Abrasives are used in the manufacturing of printed circuit boards (PCB) which are key elements in any electronic device like computers, laptops, routers, and others. Electronic devices used for digitalization are manufactured with the help of abrasives. Thus, increasing adoption for digitalization is expected to surge the growth of the abrasive market.

Market Restraints:

Stringent Regulations

Abrasives are widely used in various industries such as construction, automotive, electronics & electrical, manufacturing, and others. During the process of manufacturing, some types of emissions are likely to results such as chlorides and volatile organic compounds. These emissions may be harmful to humans. Some government bodies such as Environmental Protection Agency (EPA), Centers for Disease Control and Prevention (CDC), and others have imposed regulations during the manufacturing and use of abrasive products. For instance, the European Standard, EN 13743 stats the safety requirements for coated abrasive products which help to reduce or removal of hazards resulting from the design and application of the coated abrasive products and clamping devices. However, stringent regulations imposed by the government may hinder the growth of the abrasive market.

Abrasives Market: Key Segments

Key Abrasives Market Segments by Type: Bonded, Coasted, Super, and Others
Key Segments by Material: Natural and Synthetic
Key Abrasives Market Segment by Application: Buffing, Honing, Drilling, Grinding, and Others
Key Segments by End Users: Automotive, Manufacturing, Construction, Electronics & Electrical, and others
Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa, and South America, with individual country-level analysis

Abrasives Market: Report Scope

The report on the Abrasives market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Abrasives Market include:

3M (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
Henan Huanghe Whirlwind
Noritake
Robert Bosch GmbH
Saint-Gobain
Tyrolit
Ensitech Pty Ltd
KZK Powder Tech Corp.
Specialty Glass Inc.
HYDRANT-FLUSH
Other Key Companies

Abrasives Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Abrasives Market, by Type

Bonded
Coated
Super
Others

Abrasives Market, by Material

Natural
Synthetic

Abrasives Market, by Application

Buffing
Honing
Drilling
Grinding
Others

Abrasives Market, by End User

Automotive
Manufacturing
Electronics & Electrical
Construction
Others

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Abrasives Market by Region

Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
North America (US, Canada, Mexico)
Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
South America (Brazil, Argentina, Rest of South America)

Key Questions answered by the report

What are the major developments impacting the global market and its growth?
What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
What are the evolving types of the global market?
What are the evolving applications of the global market?
What are the major characteristics that will affect the global market growth during the study period?
Who are the key global players operating in the market?
How are the major players leveraging in the existing global market conditions?

Table of Content

1 INTRODUCTION

1.1 Research Objectives

1.2 Market Definition

1.3 Research Scope

1.4 Regional Coverage

1.5 Research Timeline

1.6 Assumptions

1.7 Limitations

2 RESEARCH DESIGN & SCOPE

2.1 Introduction

2.2 Primary Research

2.2.1 Key Industry Expert Insight

2.3 Secondary Research

2.3.1 Vital Data from Secondary Sources

2.4 Market Size Estimation

2.5 Data Validation & Triangulation

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Introduction

4.2 Drivers

4.2.1. Rise in Construction Industry

4.2.2. Increase in adoption for Digitalization

4.3 Restraints

4.3.1. Stringent Regulations

4.4 Opportunities

4.4.1. Rise in Demand in Medical & Biotechnology sector

4.5 Challenges

4.5.1 Volatile Raw Material Costs

5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS

5.1 Introduction

5.1.1. Power of Buyers

5.1.2. Power of Suppliers

5.1.3. Intensity of Competition

5.1.4. Challenges of Substitutes

5.1.5. Challenges of New Entrants

5.2 Macro-Economic Indicators

6 ABRASIVES MARKET BY TYPE, Market Size in USD Million (2017—2024)

6.1 Introduction

6.2 Bonded

6.3 Coated

6.4 Super

6.5 Others

7 ABRASIVES MARKET BY MATERIAL, Market Size in USD Million (2017—2024)

7.1 Introduction

7.2 Natural

7.3 Synthetic

7.4 Others

8 ABRASIVES MARKET BY APPLICATION, Market Size in USD Million (2017—2024)

8.1 Introduction

8.2 Buffing

8.3 Honing

8.4 Drilling

8.5 Grinding

8.6 Others

9 ABRASIVES MARKET BY END USER, Market Size in USD Million (2017—2024)

9.1 Introduction

9.2 Automotive

9.3 Manufacturing

9.4 Electronics & Electrical

9.5 Construction

9.6 Others

10 ABRASIVES MARKET BY REGION, Market Size in USD Million (2017—2024)

10.1 North America

8.1.1. US

8.1.2. Canada

8.1.3. Mexico

10.2 Europe

8.2.1. Germany

8.2.2. France

8.2.3. Italy

8.2.4. UK

8.2.5. Russia

8.2.6. Spain

8.2.7. The Netherlands

8.2.8. Rest of Europe

10.3 Asia-Pacific

8.3.1. China

8.3.2. Japan

8.3.3. India

8.3.4. South Korea

8.3.5. Taiwan

8.3.6. Rest of Asia-Pacific

10.4 Middle East & Africa

8.4.1. Saudi Arabia

8.4.2. UAE

8.4.3. Rest of Middle East & Africa

10.5 South America

8.5.1. Brazil

8.5.2. Argentina

8.5.3. Rest of South America

11 COMPETITIVE LANDSCAPE

11.1 Introduction

11.2 Market Ranking/Share Analysis of Key Companies

11.3 Company Benchmarking

12 COMPANY PROFILES

12.1 3M

12.1.1 Company Overview

12.1.2 Financial Overview

12.1.3 Products/Solutions/Services Offered

12.1.4 Key Developments

12.1.5 SWOT Analysis

12.2 Henan Huanghe Whirlwind

12.3 Noritake

12.4 Robert Bosch GmbH

12.5 Saint-Gobain

12.6 Tyrolit

12.7 Ensitech Pty Ltd

12.8 KZK Powder Tech Corp.

12.9 Specialty Glass Inc.

12.10 HYDRANT-FLUSH

12.11 Other Key Companies

13 APPENDIX

13.1 Key Industry Expert Insights

13.2 Primary Discussion Guide

13.3 Customization Options

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