U.S. and Canada Abrasives Market Expected to Reach $11.9 Billion by 2026

According to a new report published by Allied Market Research titled, "Abrasives Market by Type, Technology Type, Substrate Type, and Application: U.S. and Canada Opportunity Analysis and Industry Forecast, 2019–2026," the U.S. and Canada abrasives market was valued at $7.4 billion in 2018, and is projected to reach $11.9 billion by 2026, growing at a CAGR of 6.2% from 2019 to 2026.

Abrasives are materials, which are used to mold or finish other rough materials through extensive rubbing. They work by scraping the outer layers or surfaces for the removal of unwanted substances or roughness. Abrasives are used in many end-use industries such as metal working, wood working, cleaning, and deburring.

Increase in demand from medical device manufacturers and electronic equipment manufacturers drive the growth of the market. Moreover, rise in the consumption of abrasives in cleaning applications and surface treatment, such as grinding, dimensioning, blending, finishing, sharping, and polishing, drives the market growth. However, stringent government regulations on the extraction of natural abrasives and fluctuations in raw material prices restrain the growth of the U.S. and Canada abrasives market. 

Based on the type, super abrasives segment is anticipated to grow at the fastest growth rate, owing to increase in demand from numerous industries such as automobiles, heavy machinery, and metal fabrication. The coated abrasives is also highly adopted in industrial sectors, owing to its beneficial characteristics such as excellent surface finishes with higher productivity.

Based on the application, the grinding segment accounted for the highest market share in 2018. The advantages of abrasives in grinding application are it can cut hardened steel, it can produce smooth finishes, the time taken is less, it can maintain accuracy in each case, it requires very little pressure, and others.

On the basis of industry verticals, the aerospace industry is anticipated to grow at the fastest CAGR. This is attributed to numerous factors such as increase in investment from government, rise in trade of aircraft parts with developing regions, and growth in number of private players in the U.S.

Based on the material, the synthetic abrasives is expected to grow at fastest growth rate. It is anticipated to register a growth rate of 6.5%, during the analysis period. This is attributed to increase in the demand for fused aluminum oxide, silicon carbide abrasives, and ceramic grain abrasives.

On the basis of country, the U.S. has garnered the highest market share in terms of revenue. This is attributed to the presence of huge consumer base such as aerospace and automobile and key players in the U.S.

The analysis covers in-depth information of the major industry participants. The key players operating and profiled in the include Avery Abrasives Inc., Hermes Schleifmittel GmbH, Robert Bosch GmbH, Carborundum Universal Limited (CUMI), Compagnie de Saint-Gobain S.A., Vereinigte Schmirgel-und Maschinen-Fabriken AG (VSM), Klingspor AG, Pearl Abrasive, Stanley Black & Decker, Sait Abrasive S.p.A. (United Abrasives, Inc.), Flexovit 3M Inc, Rapid Abrasives & Accessories Inc., Extreme Abrasives, Makita Corporation (Makita Canada Inc.), Gemtex Abrasives, and Günter Wendt GmbH.

Other players in the value chain of the U.S. and Canada abrasives market include Opta Minerals, Dualflex Co. Ltd., Royal Abrasives Inc., and others.

Key Findings of the Study:

• The market is analyzed from 2018 to 2026.
• Based on the type, the super abrasives segment is projected to grow at the highest CAGR of nearly 6.7%, during the forecast period.
• On the basis of industry vertical, the aerospace industry is expected to grow at the highest CAGR of nearly 7.5%, during the analysis period.
• Based on the application, the grinding segment is anticipated to grow at highest growth rate of 7.0% during the forecast period.
• U.S. dominated the market with a share of over 92.9% in 2018.
• A comprehensive analysis of the factors that drive and restrain the us and canada abrasives market growth is provided.
• The qualitative data in this report aims at the market dynamics, trends, and developments in the industry.
• The U.S. and Canada abrasives market size in provided in terms of revenue.