Global Abrasives Market Research Report - Forecast to 2023

Published - Jul 2018 | Category - Chemical & Material | No. of Pages - 208 | Published By - Market Research Future

Report Highlights

Abrasives are used to polish and scratch away the unwanted substance or roughness. These are harder than the substance of materials that are worked upon. Abrasives are used in various applications such as machinery, automotive, electrical & electronics, metalworking, construction, and others on account of their durability. Abrasives are used in various form such as sandpaper, honing stones, cut off wheels, and grinding wheels.
Global abrasives market is predicted to reach USD 47,170 million by 2023 at a CAGR of 4.98% during the review period.
Among the material segment, aluminum oxide is likely to register significant growth over the assessment period owing to high adoption rate in numerous end-use application. Coated abrasives segment accounted for the largest market share in 2017 and is predicted to witness a healthy CAGR of around 4.90 % during the review period. The factor attributed to the segmental growth is there use in a number of polishing applications in furniture, fabrication, auto ancillaries, automobiles, hand and power tools, sanitary ware, and construction industry. .
However, volatility in raw material prices put a direct impact on the cost of the abrasive product, which is likely to hamper the market growth during the assessment period. Regionally, Asia Pacific has emerged as the dominant region in the global abrasives market and holds the maximum market share, in terms of both value and volume. In the Asia Pacific region, China has emerged as the leading market for abrasives, which is further trailed by Japan owing to rapid industrialization and urbanization in these countries.
FIGURE 1 Global Abrasives market, by application, 2017 (%)

Regional Analysis
The global abrasives market is categorized into five regions namely Latin America, North America, Europe, the Middle East & Africa, and the Asia Pacific.
Asia Pacific emerged as the leading region in the global abrasives market in 2017 and is projected to witness a lucrative growth in the upcoming years due to their rising consumption in numerous end-use application such as metalworking, electrical & electronics, automotive, and machinery. Asia Pacific is estimated to hold around 63% share of the global abrasives market and is expected to reach around USD 30,516.6 million at a CAGR of 5.49% over the forecast period. In the Asia Pacific region, various countries such as India, Japan, and China are among the leading contributors to the regional market growth due to robust growth of building & construction as well as automotive sector. China accounted for leading market share in 2017 and is estimated to dominate over the forecast period with the highest CAGR of 5.64% on account of high adoption rate in various end-use industries.
Europe emerged as the second largest abrasives market in 2017, which is further trailed by North America. European abrasives market accounted for around 12% of the overall market share. In Europe, countries such as the Italy, Germany, the U.K, and France are among the largest contributors to the regional market share owing to expanding automotive sector in this region. Germany accounted for the largest market in 2017 followed by the U.K due to strong production base of automotive and other transportation. In North America, the U.S. and Canada are estimated to hold the major share of the regional abrasives market on account of growing usage of glass abrasive in maintenance and repair activities and is estimated to boost the demand for abrasive in industrial machinery. Emerging countries of Latin America and the Middle East and Africa are predicted to witness above-average growth due to rising consumer base for the construction and transportation sector specifically in the United Arab Emirates, Kuwait, Turkey, Qatar, Brazil, Mexico, and Saudi Arabia.
Segmentation

The global abrasives market is segmented on the basis of type, application, source, material, and region. Based on the source, the market is segmented into natural and synthetic. Based on the material, the market is segmented into aluminum oxide, silicon carbide, emery, corundum, boron carbide, and others. Based on the type, the market is categorized into bonded, coated, super, and others. Based on the application, the market is segmented into automotive, metalworking, machinery, electrical & electronics, construction, and others. Based on the region, the market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.
Key Players
Some of the key manufacturers operating in the global abrasives market are Saint-Gobain Abrasives, Inc., Robert Bosch GmbH, Fujimi Incorporated, TYROLIT group, Asahi Diamond Industrial Co., Ltd, Cabot Microelectronics Corporation, Jason Incorporated, Noritake Co., Ltd, Schaffner Manufacturing Company, Inc, DEERFOS Co., Ltd, sia Abrasives Industries AG, Carborundum Universal Limited, DowDuPont, Inc., 3M, and KREBS & RIEDEL.
Geographic Analysis

The report covers brief analysis of geographical region such as:
• North America
o U.S.
o Canada
• Europe
o Germany
o U.K
o Spain
o France
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East & Africa
o Turkey
o G.C.C.
o North Africa
o Rest of the Middle East & Africa


Key Findings
As per MRFR analysis, global abrasives market is estimated to reach USD 47,170 million at a CAGR of 4.98% during the forecast period. Among type, coated abrasives accounted to hold around 35% of the global market share in 2017, expanding with the moderate CAGR of 4.90%. Among the application segment, metal working segment accounted to hold for the leading share of 28% of the global market. In material segment, aluminum oxide is estimated to hold for the leading market share in 2017. Asia Pacific region estimated to hold over 63% share of the global market in 2017.

Intended Audience
• Abrasives manufacturers
• Traders and distributors of Abrasives
• Production process industries
• Potential investors
• Raw material suppliers
DC –Description
• Industrial Abrasives
• Walter Abrasives
• Abrasive Sheet
• Abrasive Tool
• Natural Abrasives
• Fine Abrasives
• Stone Abrasive
• Resin Bond Abrasive
• Abrasive Paper
• Powder Abrasive

 

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