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2017
Abrasives Market

Abrasives Market

by Type (Bonded, Coated, and Super), Material (Natural and Synthetic), and End-user Industry (Automotive, Metal Fabrication, Machinery, Electronics, Construction, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Update Available On-Demand

Report Code: A01825
Pages: 220
Jun 2017 | 24263 Views
Author(s) : Sumiran Satsangi
Tables: 126
Charts: 55
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Abrasives Market Overview:

Global abrasives market was valued at $34,615 million in 2016, and is expected to reach $53,634 million by 2023, registering a CAGR of 6.5% from 2017 to 2023. Abrasives are hard materials, which are used in a wide range of industrial, domestic, and technological applications to shape or finish a workpiece. Abrasives are classified into natural abrasives including corundum, garnet, emery, and pumice and synthetic abrasives including silicon carbide, synthetic diamond, and alumina among others. Moreover, abrasives can be either bonded or coated. Bonded abrasives are attached to a matrix, which is also known as a binder. They are made of often rubber, clay, resin or glass, whereas coated abrasives are fixed to a backing material such as paper, cloth, resin, polyester or metal.

Abrasives Market

The global abrasives market is segmented based on type, material, end-user industry, and geography. The type segment is categorized into bonded, coated, and super. Based on material, the market is bifurcated into natural and synthetic. On the basis of end-user industry, it is classified into automotive, metal fabrication, machinery, electronics, construction, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Global Abrasives Market Segmentation

Global abrasives market segmentation

Top Investment Pockets, by End-user Industry

The automotive segment offers maximum market potential in the abrasives market, due to rise in per capita disposable incomes and increase in demand for passenger and commercial vehicles especially in the developing countries of Russia, China, India, and Indonesia, and others. In addition, strict regulatory environment and shift in consumer demand are some other major aspects fueling the growth of the global abrasives market. Finishing of vehicles is accomplished by the use of abrasives for deburring, sizing engine parts, repair and maintenance of the body, cleaning, accessories and interiors of the automobile. These are used to clean the interior surface of pipes, smoothen out welds, and to polish rough and uneven edges and surfaces. The automotive segment is expected to register a CAGR of 6.7% during the forecast period. However, strict government norms on the usage of silica abrasives and fluctuation in raw material prices are some key factors anticipated to hamper the market growth in the near future. Furthermore, investments in R&D activities to produce innovative and less hazardous abrasives are expected to provide opportunities for growth in the future.

Global Abrasives Market: Top Investment Pockets, by End-user Industry

Global Abrasives Market: Top Investment Pockets, by end-user industry

Segment Overview

The bonded segment accounted for the largest share in the global market in 2016, and is anticipated to maintain its dominance throughout the forecast period, growing at a CAGR of 6.4%.

Abrasives Market Share, By Type, 2016 (%)

Abrasives Market Share, By Type, 2016 (%)

Geographical Overview

Asia-Pacific accounted for more than 40% share of the total revenue in 2016, followed by Europe and North America. The developing countries in Asia-Pacific are anticipated to register steady growth rate, owing to the surge in the overall economy. Moreover, rise in investments by key manufacturers is another key aspect that fuels the market growth.

Korea Abrasives Market Value, 2016-2023 ($Million)

Korea Abrasives Market Value, 2016-2023 ($Million)

Key market players have invested in R&D activities to develop advanced products to cater to the requirements of the market. The players operating in the industry include Robert Bosch GmbH, 3M Company, Cosentino S.A., Saint-Gobain Abrasives, Inc., Henkel AG & Co. KGAA, Asahi Diamond Industrial Co., Ltd., Dupont., Fujimi Incorporated, and Carborundum Universal Limited.

The other players in the value chain (profiles not included in the report) include Kier Group, Deerfos Co., Ltd., Tyrolit Group, LafargeHolcim, Stanley Black & Decker Incorporated, Almatis GmbH, Sia Abrasives, Cabot Microelectronics Corporation, The Dow Chemical Company, Winterthur, FMSA Holdings Incorporated, Jason Incorporated, Fujimi Incorporated, Treibacher, Global Material Technologies Incorporated, and others.

Key Benefits for Abrasives Market:

  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • It outlines the current trends and future scenario of the market from 2017 to 2023 to understand the prevailing opportunities and potential investment pockets.
  • Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
  • The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
  • The profiles of key players along with their key strategic developments are enlisted in the report.

Abrasives Market Report Highlights

Aspects Details
By Type
  • Bonded Abrasives
  • Coated Abrasives
  • Super Abrasives
By End Use Industry
  • Automotive
  • Metal Fabrication
  • Machinery
  • Electronics
  • Construction
  • Others
By Material
  • NATURAL ABRASIVES
  • SYNTHETIC ABRASIVES
By Geography
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Korea
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • KSA
    • South Africa
    • Rest of LAMEA
Key Market Players 3M COMPANY, ASAHI DIAMOND INDUSTRIAL CO., LTD., E. I. DU PONT DE NEMOURS AND COMPANY, FUJIMI INCORPORATED, GRUPO COSENTINO, S.L. (COSENTINO S.A), HENKEL AG & CO. KGAA, MURUGAPPA GROUP (CARBORUNDUM UNIVERSAL LIMITED), ROBERT BOSCH GMBH, SAINT-GOBAIN (SAINT-GOBAIN ABRASIVES, INC.)
 

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An abrasive is a material, which is used to finish or shape a workpiece through rubbing the rough surface, which creates friction leading to removal of unwanted covering. Abrasives are extensively used in a wide range of domestic, industrial, and technological applications. This immense use of abrasives gives rise to variable shape, chemical, and physical composition of abrasives. Most common uses for abrasives include polishing, grinding, honing, buffing, drilling, cutting, lapping, sharpening and sanding.

High demand for automotive and construction industries boosts the growth of the market. Moreover, increase in demand for the developing countries, such as China and India due to rapid urbanization and rise in consumer expenditure capabilities drives the global market growth.

The European abrasives market offers numerous opportunities for the manufacturers, owing to increasing demand for abrasives especially in Germany, France, and UK. Moreover, growth in the number of manufacturers and rise in demand for cost-effective and efficient abrasive materials in the developing countries, such as Poland and the Netherlands, drive the European market. Asia-Pacific is estimated to account for the highest market share in the near future, followed by Europe.

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