Global AbrasiveMarket wass valued at US$ 39.5Bn in 2017 and is expected to reach US$ 63.4Bn by 2026 at a CAGR of 6.1%.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global abrasives market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global abrasives market.
Global Abrasives Market
Growing the demand from automobile manufacturers, medical device manufacturers, and electronic equipment manufacturers drives the global abrasives market. Additionally, a rise in consumption of abrasives in cleaning applications and surface treatment, such as grinding, dimensioning, blending, finishing, shaping, and polishing, are some other key aspects that drive the growth of the abrasives market globally. However, strict government regulations on the extraction of natural abrasives and fluctuations in raw material costs hinder the market growth.
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Coated abrasives sub-segment based on type dominates the market with over a third of the market share and is anticipated to witness moderate growth at a CAGR of 4.9% throughout the forecast period. They are made using aluminium oxide and silicon carbide minerals. Super abrasives segment accounted for 22% of the global abrasives market. The growing need for hard materials for high-quality surface finish, continuous innovations, and increasing preference for CNC machines are the factors accelerating the demand for super abrasives.
Metallic abrasives sub-segment based on material is the most prominent segments in terms of market size because of the high demand for abrasives in these sectors in response to growing industrialization in emerging markets.
Automotive segment is leading the abrasives market globally. Demand for abrasives was highest in the automotive industry in 2017, representing approximately 40% of the market volume. They are used for lacquer sanding, coarse sanding, and repair sanding, and polishing in the industry. An extensive variety of sandpapers with grit numbers ranging from 24 to 2000 and above are presently in use within the automotive industry.
Region-wise, the Asia Pacific emerged as the major abrasives market because of flourishing growth of various industries such as construction, electrical & electronics, and automotive. The Asia Pacific region accounted for around 65% of the overall value share in 2017 and is projected to reach USD 30,516.6Mn at the highest CAGR of around 5.4% over the forecast period. The demand for abrasives is expected to surge in different economies such as Japan, India, China, and Rest of Asia Pacific owing to various government initiatives to increase the flow of FDI in the manufacturing sector. China accounts for the largest market value and is anticipated to retain their dominance over the assessment period with a healthy CAGR of 5.6%.
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Scope of Global Abrasives Market
Global Abrasives Market, by Material
• Metallic abrasives
• Aluminium oxide
• Silicon carbide
Global Abrasives Market, by Type
• Bonded abrasive
• Coated abrasive
• Super abrasive
Global Abrasives Market, by Product
Global Abrasives Market, by End-use industry
• Metal fabrication
• Electrical & electronics equipment
Global Abrasives Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Abrasives Market
• Robert Bosch GmbH
• 3M Company
• Compagnie De Saint-Gobain S.A.
MAJOR TOC OF THE REPORT
Chapter One: Abrasives Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Abrasives Market Competition, by Players
Chapter Four: Global Abrasives Market Size by Regions
Chapter Five: North America Abrasives Revenue by Countries
Chapter Six: Europe Abrasives Revenue by Countries
Chapter Seven: Asia-Pacific Abrasives Revenue by Countries
Chapter Eight: South America Abrasives Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Abrasives by Countries
Chapter Ten: Global Abrasives Market Segment by Type
Chapter Eleven: Global Abrasives Market Segment by Application
Chapter Twelve: Global Abrasives Market Size Forecast (2019-2026)
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