Abrasives Market
PUBLISHED: 2022 ID: SMRC22115
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Abrasives Market

Abrasives Market Forecasts to 2028 - Global Analysis By Material (Natural and Synthetic), Type (Bonded abrasives, Coated abrasives, Super abrasives and Other Types), End User (Metal fabrication, Aerospace, Automotive, Machinery, Electrical & electronics equipment and Other End Users) and Geography

4.3 (75 reviews)
4.3 (75 reviews)
Published: 2022 ID: SMRC22115

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 $38.80 BN

Projected Year Value (2028)

US $55.67 BN

CAGR (2022 - 2028)

6.2%

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

Asia Pacific

Highest Growing Market

North America

According to Stratistics MRC, the Global Abrasives Market is accounted for $38.80 billion in 2022 and is expected to reach $55.67 billion by 2028 growing at a CAGR of 6.2% during the forecast period. Abrasives are materials that are used to remove wood, concrete, ceramic, stone, or minerals. These materials create an elegant, sleek, and finished appearance. The method is frequently used for material polishing to achieve a smooth and reflective surface. These materials are roughened to achieve matte, satin, or beaded finishes. These materials are used in sandpapers, grinding wheels, polishes, honing stones, tumbling and vibratory mass-finishing media, pulp stones, sandblasting, ball mills, and other tools, which helps the market grow. The construction industry is undergoing tremendous and unprecedented changes as a result of economic growth, which is increasing product demand. The growing demand for the product in end-use industries such as metal fabrication, automotive, Electrical Equipment (E&E) and machinery, and electronics is expected to drive the market.

According to the IEA, the number of electric vehicles in the United States increased by 29.5% between 2018 and 2019. The demand for electric vehicles and charging stations is increasing in the United States, which is expected to boost abrasive demand in the coming years.

Market Dynamics:

Driver:

Rising adoption of abrasives in construction activities

Construction activity has increased as a result of rapid urbanisation and improved lifestyles. Economic growth in developing countries, combined with high renovation activity, is supporting market development more. These products are used in a variety of construction applications, including woodworking and fabrication, metal fabrications, and metal components. Growing economies such as China, India, Japan, and other Asian countries are leading the way in the construction industry. Because of the expansion of residential construction, these countries' rising populations have had a positive impact on product consumption. Furthermore, the western region's major shift in industrialization into smaller nations is directly supporting the growth rate in the construction industry, which, in turn, is leading to the growth of the abrasives industry.

Restraint:

High manufacturing costs and health implications

Abrasive blasting can generate a lot of dust and noise. Toxic elements could be present in the abrasive material and the surface being blasted, putting employees at risk. Moreover, high production costs, volatile raw material prices, and strict restrictions on abrasive uses are expected to stymie the market.

Opportunity:

Growing demand from the automotive industry


The product is used for engine part sizing, auto body repair, and interior and exterior cleaning. These products are also used to clean the insides of pipes, smooth welds, smooth edges, and surfaces that will be oiled, fitted, polished, or painted. Coated and non-woven products are used to refinish car bodies, whereas grinding wheels are used on cars. This high demand from various applications in the automotive industry directly supports the industry's growth.

Threat:

Lack of Raw Material Availability and Stringent Regulations

Aluminum oxide, silicon carbide, cubic boron nitride, synthetic diamond, and ceramics are the most common abrasive raw materials. These raw materials come from renewable resources like petroleum. Depletion of these resources reduces raw material availability, limiting market growth. Furthermore, rising concerns about environmental protection and pollution prevention have resulted in governments taking action and imposing stringent regulations on the use of this product, restricting market growth.

Covid-19 Impact

The pandemic of COVID-19 had a negative impact on the abrasives market. The pandemic caused a global supply chain shift, affecting industries such as metal fabrication, machinery, automotive, and others, resulting in disruption and a decrease in demand for the product. Manufacturers keep optimal inventory levels in order to continue developing abrasive products. Abrasive manufacturers are collaborating with alternative suppliers to ensure stable supply chains. To ensure company continuity, they are developing a balanced partnership with distributors and ecosystem partners. As a result, the global abrasives market is expected to rebound from a recent economic downturn and expand further over the forecast period.

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

The synthetic segment is expected to be the largest during the forecast period. As synthetic abrasives, ceramic, borazon, and silicon carbide are used. The products aid in providing a mirror finish to machined components in the manufacturing sector. Growing manufacturing sectors in India and China as a result of favourable government initiatives will boost product demand extensively, resulting in the segments' growth.

The Metal Fabrication segment is expected to have the highest CAGR during the forecast period

During the forecast period, the metal fabrication segment is expected to grow at the highest CAGR. This fabrication method is used to create metal structures by bending, cutting, and assembling them. This product is used to shape metals with cut-off saws, also known as chop saws, and steel-cutting abrasive discs. Fiber discs and flap discs are two other metal fabrication products that are commonly used for grinding down metals and blending the surfaces. Furthermore, growth in developing economies' manufacturing sectors is expected to boost demand for heavy machinery, resulting in increased product consumption and market growth.

Region with largest share:

During the forecast period, Asia Pacific is expected to be the largest region. In 2021, the APAC region dominated 54% of the market. This is due to technological advancements, as well as a growing construction industry, which will support the product's demand in China, Japan, and India. China is the largest consumer due to high metal fabrication and machinery demand in this region. Moreover, growing infrastructure development in the region will encourage the construction of walkways, which will increase product demand.

Region with highest CAGR:

Because of rising product demand from the automotive and aerospace and defence industries, North America is expected to witness the highest CAGR growth during the forecast period. Despite the decline in 2020 due to the pandemic, the region's increasing emphasis on the production of EVs, combined with the resumption of aircraft manufacturing operations, is expected to benefit market growth in the coming years.



Key players in the market

Some of the key players profiled in the Abrasives Market include Asahi Diamond Industrial Co. Ltd, CMC Materials, Dewalt, Fujimi Incorporated, Klingspor, 3M, Abrasive Technology Inc., Allied High Tech Products Inc., Almatis GmbH, DowDuPont Inc., Jason Incorporated, KREBS and RIEDEL, ARC Abrasives Inc, Radiac Abrasives, Robert Bosch GmbH and Saint Gobain Abrasive.

Key Developments:

In 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

In May 2021, Norton Quantum Prime Grinding Wheels with unique, proprietary nano-crystalline ceramic grain was launched by Saint-Gobain Abrasives, offering exceptional productivity benefits across a wide range of applications

Materials Covered:
• Natural
• Synthetic

Types Covered:
• Bonded abrasives
• Coated abrasives
• Super abrasives
• Other Types

End Users Covered:
• Metal fabrication
• Aerospace
• Automotive
• Machinery
• Electrical & electronics equipment
• Other End Users

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
o 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 End User Analysis
3.7 Emerging Markets
3.8 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 Abrasives Market, By Material
5.1 Introduction
5.1 Natural
5.2 Synthetic

6 Global Abrasives Market, By Type
6.1 Introduction
6.2 Bonded abrasives
6.3 Coated abrasives
6.4 Super abrasives
6.5 Other Types

7 Global Abrasives Market, By End User
7.1 Introduction
7.2 Metal fabrication
7.3 Aerospace
7.4 Automotive
7.5 Machinery
7.6 Electrical & electronics equipment
7.7 Other End Users

8 Global Abrasives Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 Asahi Diamond Industrial Co. Ltd
10.2 CMC Materials
10.3 Dewalt
10.4 Fujimi Incorporated
10.5 Klingspor
10.6 3M
10.7 Abrasive Technology Inc.
10.8 Allied High Tech Products Inc.
10.9 Almatis GmbH
10.10 DowDuPont Inc.
10.11 Jason Incorporated
10.12 KREBS and RIEDEL
10.13 ARC Abrasives Inc
10.14 Radiac Abrasives
10.15 Robert Bosch GmbH
10.16 Saint Gobain Abrasives

List of Tables
1 Global Abrasives Market Outlook, By Region (2020-2028) ($MN)
2 Global Abrasives Market Outlook, By Material (2020-2028) ($MN)
3 Global Abrasives Market Outlook, By Natural (2020-2028) ($MN)
4 Global Abrasives Market Outlook, By Synthetic (2020-2028) ($MN)
5 Global Abrasives Market Outlook, By Type (2020-2028) ($MN)
6 Global Abrasives Market Outlook, By Bonded abrasives (2020-2028) ($MN)
7 Global Abrasives Market Outlook, By Coated abrasives (2020-2028) ($MN)
8 Global Abrasives Market Outlook, By Super abrasives (2020-2028) ($MN)
9 Global Abrasives Market Outlook, By Other Types (2020-2028) ($MN)
10 Global Abrasives Market Outlook, By End User (2020-2028) ($MN)
11 Global Abrasives Market Outlook, By Metal fabrication (2020-2028) ($MN)
12 Global Abrasives Market Outlook, By Aerospace (2020-2028) ($MN)
13 Global Abrasives Market Outlook, By Automotive (2020-2028) ($MN)
14 Global Abrasives Market Outlook, By Machinery (2020-2028) ($MN)
15 Global Abrasives Market Outlook, By Electrical & electronics equipment (2020-2028) ($MN)
16 Global Abrasives Market Outlook, By Other End Users (2020-2028) ($MN)
17 North America Abrasives Market Outlook, By Country (2020-2028) ($MN)
18 North America Abrasives Market Outlook, By Material (2020-2028) ($MN)
19 North America Abrasives Market Outlook, By Natural (2020-2028) ($MN)
20 North America Abrasives Market Outlook, By Synthetic (2020-2028) ($MN)
21 North America Abrasives Market Outlook, By Type (2020-2028) ($MN)
22 North America Abrasives Market Outlook, By Bonded abrasives (2020-2028) ($MN)
23 North America Abrasives Market Outlook, By Coated abrasives (2020-2028) ($MN)
24 North America Abrasives Market Outlook, By Super abrasives (2020-2028) ($MN)
25 North America Abrasives Market Outlook, By Other Types (2020-2028) ($MN)
26 North America Abrasives Market Outlook, By End User (2020-2028) ($MN)
27 North America Abrasives Market Outlook, By Metal fabrication (2020-2028) ($MN)
28 North America Abrasives Market Outlook, By Aerospace (2020-2028) ($MN)
29 North America Abrasives Market Outlook, By Automotive (2020-2028) ($MN)
30 North America Abrasives Market Outlook, By Machinery (2020-2028) ($MN)
31 North America Abrasives Market Outlook, By Electrical & electronics equipment (2020-2028) ($MN)
32 North America Abrasives Market Outlook, By Other End Users (2020-2028) ($MN)
33 Europe Abrasives Market Outlook, By Country (2020-2028) ($MN)
34 Europe Abrasives Market Outlook, By Material (2020-2028) ($MN)
35 Europe Abrasives Market Outlook, By Natural (2020-2028) ($MN)
36 Europe Abrasives Market Outlook, By Synthetic (2020-2028) ($MN)
37 Europe Abrasives Market Outlook, By Type (2020-2028) ($MN)
38 Europe Abrasives Market Outlook, By Bonded abrasives (2020-2028) ($MN)
39 Europe Abrasives Market Outlook, By Coated abrasives (2020-2028) ($MN)
40 Europe Abrasives Market Outlook, By Super abrasives (2020-2028) ($MN)
41 Europe Abrasives Market Outlook, By Other Types (2020-2028) ($MN)
42 Europe Abrasives Market Outlook, By End User (2020-2028) ($MN)
43 Europe Abrasives Market Outlook, By Metal fabrication (2020-2028) ($MN)
44 Europe Abrasives Market Outlook, By Aerospace (2020-2028) ($MN)
45 Europe Abrasives Market Outlook, By Automotive (2020-2028) ($MN)
46 Europe Abrasives Market Outlook, By Machinery (2020-2028) ($MN)
47 Europe Abrasives Market Outlook, By Electrical & electronics equipment (2020-2028) ($MN)
48 Europe Abrasives Market Outlook, By Other End Users (2020-2028) ($MN)
49 Asia Pacific Abrasives Market Outlook, By Country (2020-2028) ($MN)
50 Asia Pacific Abrasives Market Outlook, By Material (2020-2028) ($MN)
51 Asia Pacific Abrasives Market Outlook, By Natural (2020-2028) ($MN)
52 Asia Pacific Abrasives Market Outlook, By Synthetic (2020-2028) ($MN)
53 Asia Pacific Abrasives Market Outlook, By Type (2020-2028) ($MN)
54 Asia Pacific Abrasives Market Outlook, By Bonded abrasives (2020-2028) ($MN)
55 Asia Pacific Abrasives Market Outlook, By Coated abrasives (2020-2028) ($MN)
56 Asia Pacific Abrasives Market Outlook, By Super abrasives (2020-2028) ($MN)
57 Asia Pacific Abrasives Market Outlook, By Other Types (2020-2028) ($MN)
58 Asia Pacific Abrasives Market Outlook, By End User (2020-2028) ($MN)
59 Asia Pacific Abrasives Market Outlook, By Metal fabrication (2020-2028) ($MN)
60 Asia Pacific Abrasives Market Outlook, By Aerospace (2020-2028) ($MN)
61 Asia Pacific Abrasives Market Outlook, By Automotive (2020-2028) ($MN)
62 Asia Pacific Abrasives Market Outlook, By Machinery (2020-2028) ($MN)
63 Asia Pacific Abrasives Market Outlook, By Electrical & electronics equipment (2020-2028) ($MN)
64 Asia Pacific Abrasives Market Outlook, By Other End Users (2020-2028) ($MN)
65 South America Abrasives Market Outlook, By Country (2020-2028) ($MN)
66 South America Abrasives Market Outlook, By Material (2020-2028) ($MN)
67 South America Abrasives Market Outlook, By Natural (2020-2028) ($MN)
68 South America Abrasives Market Outlook, By Synthetic (2020-2028) ($MN)
69 South America Abrasives Market Outlook, By Type (2020-2028) ($MN)
70 South America Abrasives Market Outlook, By Bonded abrasives (2020-2028) ($MN)
71 South America Abrasives Market Outlook, By Coated abrasives (2020-2028) ($MN)
72 South America Abrasives Market Outlook, By Super abrasives (2020-2028) ($MN)
73 South America Abrasives Market Outlook, By Other Types (2020-2028) ($MN)
74 South America Abrasives Market Outlook, By End User (2020-2028) ($MN)
75 South America Abrasives Market Outlook, By Metal fabrication (2020-2028) ($MN)
76 South America Abrasives Market Outlook, By Aerospace (2020-2028) ($MN)
77 South America Abrasives Market Outlook, By Automotive (2020-2028) ($MN)
78 South America Abrasives Market Outlook, By Machinery (2020-2028) ($MN)
79 South America Abrasives Market Outlook, By Electrical & electronics equipment (2020-2028) ($MN)
80 South America Abrasives Market Outlook, By Other End Users (2020-2028) ($MN)
81 Middle East & Africa Abrasives Market Outlook, By Country (2020-2028) ($MN)
82 Middle East & Africa Abrasives Market Outlook, By Material (2020-2028) ($MN)
83 Middle East & Africa Abrasives Market Outlook, By Natural (2020-2028) ($MN)
84 Middle East & Africa Abrasives Market Outlook, By Synthetic (2020-2028) ($MN)
85 Middle East & Africa Abrasives Market Outlook, By Type (2020-2028) ($MN)
86 Middle East & Africa Abrasives Market Outlook, By Bonded abrasives (2020-2028) ($MN)
87 Middle East & Africa Abrasives Market Outlook, By Coated abrasives (2020-2028) ($MN)
88 Middle East & Africa Abrasives Market Outlook, By Super abrasives (2020-2028) ($MN)
89 Middle East & Africa Abrasives Market Outlook, By Other Types (2020-2028) ($MN)
90 Middle East & Africa Abrasives Market Outlook, By End User (2020-2028) ($MN)
91 Middle East & Africa Abrasives Market Outlook, By Metal fabrication (2020-2028) ($MN)
92 Middle East & Africa Abrasives Market Outlook, By Aerospace (2020-2028) ($MN)
93 Middle East & Africa Abrasives Market Outlook, By Automotive (2020-2028) ($MN)
94 Middle East & Africa Abrasives Market Outlook, By Machinery (2020-2028) ($MN)
95 Middle East & Africa Abrasives Market Outlook, By Electrical & electronics equipment (2020-2028) ($MN)
96 Middle East & Africa Abrasives Market Outlook, By Other End Users (2020-2028) ($MN)

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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