Abrasive Market
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PUBLISHED: 2022 ID: SMRC21848
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Abrasive Market Forecasts to 2028 - Global Analysis By Product Type (Coated, Super, Bonded, Loose, Steel, Other product types), Source (Synthetic, Natural), Material(Emery 53, Silicon carbide 52, Aluminum oxide 51, Boron carbide 56, Corundum 54, Others 57), Application, and By Geography

4.8 (75 reviews)
4.8 (75 reviews)
Published: 2022 ID: SMRC21848

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $52.62 MN

Projected Year Value (2028)

US $76.79 MN

CAGR (2022 - 2028)

6.50%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Fastest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Abrasive Market is accounted for $52.62 million in 2022 and is expected to reach $76.79 million by 2028 growing at a CAGR of 6.50% during the forecast period. Materials called abrasives are employed to remove wood, concrete, ceramic, stone, or minerals. These materials offer a refined, completed appearance. The method is frequently used to polish materials to obtain a smooth, shiny surface. These items are used to give fabrics with matte, satin, or beaded finishes a rougher surface. The market's expansion is supported by the use of these materials in sandpapers, grinding wheels, polishes, honing stones, tumbling and vibratory mass finishing media, pulp stones, sandblasting, ball mills, and other equipment. Additionally, the industry is constantly changing as a result of shifting technologies and a scarcity of skilled labour.

According to the Federal Statistical Office (Destatis), in Germany, the turnover in the main construction industry in November 2021 was up by 6.2% compared to the corresponding month of the previous year. According to the US Census Bureau, the total construction output in the United States was estimated to be USD 1639.86 billion in December 2021, indicating a 9% increase compared to USD 1504.2 billion in the same period the previous year. According to the Aerospace Industries Association (AIA), in 2018, the U.S. aerospace and defense industry has contributed more than USD 374 billion to the GDP (Gross Domestic Products) of the U.S.



Market Dynamics:

Driver:

Increasing Demand from the Automotive Industry

The product is used to repair auto bodies, size engine parts, and clean the interior and outside of vehicles. These items are also used to clean the interior of pipes, welds, edges, and surfaces that will be painted, polished, fitted, or cleaned. While grinding wheels are utilised for cars, coated and non-woven goods are used to refinish auto bodywork. The growth of the automotive sector is directly supported by the high demand coming from a variety of applications. For non-engine parts and accessories including brakes, steering wheels, wheels, and axles, several abrasive products are employed. In order to gather tools, brakes have a unique abrasive with a non-directional scratch pattern. The brake screech is removed, and heat-sensitive metals' discolouration is decreased. The brake screech is removed, and heat-sensitive metals' discolouration is decreased. The interior and outside of cars are prepared and polished with abrasive sandpaper. Additionally, it is anticipated that the market would be severely impacted by the escalating raw material price variations and the state of the economy.

Restraint:

Lack of Raw Material Availability and Stringent Regulations

Aluminium oxide, silicon carbide, cubic boron nitride, synthetic diamond, and ceramics are the most frequently used abrasive basic materials. These raw materials are derived from resources that are regenerative, like petroleum. Governments have also acted and imposed strict limits on the usage of this commodity as a response of growing concerns over environmental protection and halting the spread of pollution, which has hampered market expansion.

Opportunity:

Growing Application of Abrasives for Construction Activities

Due to rising urbanisation and improved lifestyles, there has been an upsurge in construction activities. Market development is further aided by high levels of renovation activity and economic growth in developing nations. These goods are employed in the construction sector for a variety of purposes, including metal fabrications, metal components, and woodworking & fabrication. Growing economies are the main countries where the construction industry is expanding. Due to the increase of residential construction, the expanding population in these nations has had a favourable impact on product consumption. Additionally, the rapid industrialization of smaller western nations is directly boosting the expansion of the construction sector, which in turn is driving the expansion of the abrasives market.

Threat:

Shortage of labour and lack of raw materials

The market's biggest problem is a lack of qualified workers in the sector. The scarcity of raw supplies is another difficult aspect.

Covid-19 Impact

All industries, including manufacturing, metalworking, and the automobile, were affected by the epidemic. There have been disruptions caused by large-scale Chinese manufacturing exports. The lockout has also led to plant closures in the United States, which has put even more acute pressure on the global supply chain, putting both firms and customers at danger. The pandemic has caused a shift in the supply chain on a worldwide scale, which has an impact on the metalworking, industrial, automotive, and other industries. In turn, this is upsetting the market and causing a downward change in product demand. Abrasives, including aluminium oxide, silicon carbide, boron nitride, and others, are frequently discovered in nature through the process of underground extraction. Mining operations and product demand have both been impacted by the global closure. Government restrictions on the production of raw materials and the shutdown of the manufacturing industry both limit market expansion.

The coated segment is expected to be the largest during the forecast period

Based on product type the market is classified into Coated, Super, Bonded, Loose, Steel and Other product types. The coated sector is anticipated to be responsible for the increased demand in the abrasives market during the course of the forecast. The focus on quick industrialization in developing nations and the growth of the metal fabrication sector are predicted to change suppliers' and customers' preferences for abrasives. In addition, rising demand for coated abrasives across all end-use sectors is anticipated to fuel market expansion for abrasives. Companies have been forced to increase their manufacturing capacities due to the rising demand for this product category. Grain, a backing material, and bonding adhesive make up the coated section. These elements provide the product a distinctive quality that makes it suited for a variety of uses. Segment growth will be boosted by the use of coated abrasives in consumer goods, fabrication, hand and power tools, general engineering, furniture, and surgical devices.

The metal fabrication segment is expected to have the highest CAGR during the forecast period

Application segment is divided into Heavy Machinery, Metal Fabrication, Automotive & Transportation, Electrical & Electronics Equipment and Other applications. The end-use industry category in the abrasives market with the quickest rate of CAGR is metal fabrication. Its use and demand in metal fabrication for cutting-off and grinding, removing welds and extra material, surface blending, finishing, and polishing are credited with this increase. Metal structures are manufactured using this kind of fabrication using bending, cutting, and assembly procedures. This item is used to cut metals into the desired shape using cut-off saws, also known as chop saws. These saws have steel-cutting abrasive discs. Fiber discs and flap discs, which are primarily used for smoothing and grinding metal surfaces, are additional items for metal fabrication.

Region with highest share:

Due to the increasing product demand from the automotive and aerospace & military industries, North America is predicted to experience consistent expansion over the next years. Increasing emphasis on the production of EVs in the region along with the restart of aircraft manufacturing operations are projected to benefit the market growth in the years to come, despite the reduction in the forecast period caused by the pandemic.

Region with highest CAGR:

During the anticipated period, Asia Pacific controlled the global market and generated the greatest revenue share. Over the course of the projection period, market expansion is anticipated to be driven by improvements in infrastructure, rising manufacturing sector investments, and an increase in EV production in the region's growing economies. The demand for passenger and commercial vehicles is at an all-time high due to an increase in disposable income, particularly in developing nations. As a result, it is anticipated that in the years to come, this increased demand for cars will indirectly fuel the market for abrasives. During the projection period, the rise in electronic device sales is projected to increase demand for coated abrasives in the electronic industry, particularly in the consumer goods sector.



Key players in the market

Some of the key players profiled in the Abrasive Market include Nippon Paint, Brookstone, Mirka, Carborundum Universal Ltd (CUMI), DuPont, 3M, Abrasive Technology Inc., Saint Gobain SA, ARC Abrasives Inc., Bosch Ltd., Fujimi Incorporated, Jason Incorporated, Asahi Diamond Industrial Co., Ltd, CMC Materials, Cabot Microelectronics Corporation, Radiac Abrasives, SAK Abrasives Limited, Uneeda Enterprizes Inc., Blue Ribbon Abrasives Co., Inc., Sterling Abrasives Limited.

Key Developments:

February 2022 - Carborundum Universal Ltd (CUMI), through its subsidiary CUMI Abrasives GmbH, based in Germany, announced a contract to purchase 100% stake in RHODIUS Abrasives. This acquisition is expected to enhance the geographical expanse of the company.

December 2020 – Nippon Paint India, a part of NIPSEA Group, announced the expansion of the product Line n-Force line in the automotive industry to offer best-in class solutions. The n-Force range consists of abrasives, rubbing compounds, and waxes & polishes. This launch is expected to make Nippon Paint a one-stop workshop for customers in the automotive aftermarket area.

February 2019 – Brookstone Partners acquired Virginia Abrasive (VAC). VAC produces and distributes this product to professional flooring, equipment rental, and industrial flooring markets. This acquisition will help VAC to drive its organic growth by expanding its product offerings. Brookstone Partners will boost VAC's growth by acquiring complementary firms to meet its customers' evolving needs.

September 2018 – Mirka launched two new families of abrasives with its new coating technology. The two families, Mirka Iridium and Novastar, are new paper and film-backed abrasives, which are the finest products designed for wood, automotive refinishing, and manufacturing industries, including vehicle and marine.

In May 2018, Bosch extended its new product in the range of abrasives by developing 2 step grinding system for angle grinders that enable higher removal rate and offer finer surfaces. The abrasive product helps in saving time up to 25%. The launch of this product has strengthened the company’s product portfolio.

In May 2018, Saint-Gobain Group in Thailand launched a brand new abrasive product called “Weber by Norton” at The Architect Fair 2018. The new “Weber by Norton” diamond blade range was the very first new product among many others to come. The company is now offering a new range of products under the Weber brand in Thailand, including 4” diamond blades, thin wheel, GC grinding wheel, flap disc, and fiber disc. The launch of this new product was due to the collaboration of the company with the Weber Team in Thailand.

Product Type Covered:
• Coated
• Super
• Bonded
• Loose
• Steel
• Other product types
Source Covered:
• Synthetic
• Natural

Material Covered:
• Emery 53
• Silicon carbide 52
• Aluminum oxide 51
• Boron carbide 56
• Corundum 54
• Others 57

Application Covered:
• Heavy Machinery
• Metal Fabrication
• Automotive & Transportation
• Electrical & Electronics Equipment
• Other applications

End Use Covered:
• Agriculture
• Medical Devices
• Power Generation
• Cleaning & Maintenance
• Aerospace
• Furniture
• Medical
• Oil and Gas
• Industrial
• Construction

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Abrasive Market, By Product Type
5.1 Introduction
5.2 Coated
5.3 Super
5.4 Bonded
5.5 Loose
5.6 Steel
5.7 Other product types

6 Global Abrasive Market, By Source
6.1 Introduction
6.2 Synthetic
6.3 Natural

7 Global Abrasive Market, By Material
7.1 Introduction
7.2 Emery 53
7.3 Silicon carbide 52
7.4 Aluminum oxide 51
7.5 Boron carbide 56
7.6 Corundum 54
7.7 Others 57

8 Global Abrasive Market, By Application
8.1 Introduction
8.2 Heavy Machinery
8.3 Metal Fabrication
8.4 Automotive & Transportation
8.5 Electrical & Electronics Equipment
8.6 Other applications

9 Global Abrasive Market, By End user
9.1 Introduction
9.2 Agriculture
9.3 Medical Devices
9.4 Power Generation
9.5 Cleaning & Maintenance
9.6 Aerospace
9.7 Furniture
9.8 Medical
9.9 Oil and Gas
9.10 Industrial
9.11 Construction

10 Global Abrasive Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Nippon Paint
12.2 Brookstone
12.3 Mirka
12.4 Carborundum Universal Ltd (CUMI)
12.5 DuPont
12.6 3M
12.7 Abrasive Technology Inc.
12.8 Saint Gobain SA
12.9 ARC Abrasives Inc.
12.10 Bosch Ltd.
12.11 Fujimi Incorporated
12.12 Jason Incorporated
12.12 Asahi Diamond Industrial Co., Ltd
12.14 CMC Materials
12.15 Cabot Microelectronics Corporation
12.16 Radiac Abrasives
12.17 SAK Abrasives Limited
12.18 Uneeda Enterprizes Inc.
12.19 Blue Ribbon Abrasives Co., Inc.
12.20 Sterling Abrasives Limited

List of Tables
1 Global Abrasive Market Outlook, By Region (2020-2028) ($MN)
2 Global Abrasive Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Abrasive Market Outlook, By Coated (2020-2028) ($MN)
4 Global Abrasive Market Outlook, By Super (2020-2028) ($MN)
5 Global Abrasive Market Outlook, By Bonded (2020-2028) ($MN)
6 Global Abrasive Market Outlook, By Loose (2020-2028) ($MN)
7 Global Abrasive Market Outlook, By Steel (2020-2028) ($MN)
8 Global Abrasive Market Outlook, By Other product types (2020-2028) ($MN)
9 Global Abrasive Market Outlook, By Source (2020-2028) ($MN)
10 Global Abrasive Market Outlook, By Synthetic (2020-2028) ($MN)
11 Global Abrasive Market Outlook, By Natural (2020-2028) ($MN)
12 Global Abrasive Market Outlook, By Material (2020-2028) ($MN)
13 Global Abrasive Market Outlook, By Emery 53 (2020-2028) ($MN)
14 Global Abrasive Market Outlook, By Silicon carbide 52 (2020-2028) ($MN)
15 Global Abrasive Market Outlook, By Aluminum oxide 51 (2020-2028) ($MN)
16 Global Abrasive Market Outlook, By Boron carbide 56 (2020-2028) ($MN)
17 Global Abrasive Market Outlook, By Corundum 54 (2020-2028) ($MN)
18 Global Abrasive Market Outlook, By Others 57 (2020-2028) ($MN)
19 Global Abrasive Market Outlook, By Application (2020-2028) ($MN)
20 Global Abrasive Market Outlook, By Heavy Machinery (2020-2028) ($MN)
21 Global Abrasive Market Outlook, By Metal Fabrication (2020-2028) ($MN)
22 Global Abrasive Market Outlook, By Automotive & Transportation (2020-2028) ($MN)
23 Global Abrasive Market Outlook, By Electrical & Electronics Equipment (2020-2028) ($MN)
24 Global Abrasive Market Outlook, By Other applications (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

 

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