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Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • June 2021
  • 107 pages
  • ID: 5834492
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global abrasives market exhibited moderate growth during 2015-2020.

The market will experience growth once normalcy is regained. Looking forward,the global abrasives market is expected to grow at a CAGR of 4.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.

Abrasives refer to mineral-based substances that are used for polishing, grinding and cleaning surfaces. They are utilized in ultrasonic machining, abrasive jet machining and magnetic field-assisted polishing. Besides this, as they help remove excess sizing, slicing and material, they are commonly employed in the manufacturing of intricate components or creating ultra-smooth surfaces for machines and aircraft. They also find extensive application in the automotive sector for lowering noise levels, minimizing carbon emissions and manufacturing automotive parts, such as mirrors, valve springs and fuel and de-aeration tanks.

Rapid urbanization, inflating income levels and the rising global population have boosted the sales of automobiles worldwide. This, along with the increasing utilization of abrasives for reducing CO2 emissions of high-performance engines and noise levels in automobiles, is strengthening the growth of the market. Moreover, the thriving electronics and manufacturing industries act as another growth-inducing factor. Abrasives are used in these industries to scrape the metal in small amounts for manufacturing semiconductors and other electronic equipment with precision. Apart from this, the increasing construction activities are resulting in the escalating demand for super abrasives. The developments in the manufacturing industry have also enabled improvements in precision tooling, which is utilized in the production of smaller components with greater accuracy. This, in turn, is positively influencing the demand for abrasives. Furthermore, the leading players are focusing on various product innovations, such as the development of polyester- and fabric-based abrasives. They are also introducing advanced coated abrasives for metal fabrication, which is propelling the abrasives market growth. The growing adoption of super-abrasives, such as industrial diamonds for precision grinding and cutting of hard metals is also boosting their sales worldwide. However, due to the sudden outbreak of the coronavirus disease (COVID-19), governments of numerous countries have imposed complete lockdowns. This, along with disruptions in the supply chain and the unavailability of labor, has halted the operations of various manufacturing units and impacted the growth of the market. The market is expected to revive once normalcy is regained.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global abrasives market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type, end-use, and material type.

Report Coverage:
Historical, Current and Future Market Trends

Market Breakup by Product Type:
Bonded Abrasives
Coated Abrasives
Super-abrasives
Others

Market Breakup by End-Use:
Machinery
Metal Fabrication
Automotive
Electronics
Construction
Others

Market Breakup by Material Type:
Natural Abrasives
Synthetic Abrasives

Market Breakup by Region:
Asia Pacific
Europe
North America
Latin America
Middle East and Africa

Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Robert Bosch GmbH, Dowdupont, Fujimi Incorporated, Compagnie De Saint-Gobain S.A., Henkel, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos, Sankyo-Rikagaku, etc.

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