Abrasives Market: Summary
The Global Abrasives Market is estimated to reach USD 45.1 Billion by 2024 at a CAGR of 6.42 %.
Abrasives are referred to as the quality of material, usually, a mineral which is utilized to shape or finish work pieces through polishing and rubbing. They are extensively used in a wide range of industries, technologies and domestic applications in the process such as cutting, drilling, honing, lapping, buffing, sharpening, amongst others. Hardness is one of the important properties required in abrasives materials and hardness should be greater than the substance of material that is been worked. Additionally, toughness (or rigidity), grain shape & size, the character of fracture, and purity are some of the other properties of abrasives taken into consideration.
Abrasives Market: Drivers & Restraints
- Rise in Construction Industry
Abrasives are being used in the construction of bridges and buildings where metalworking applications such as wed preparation or smoothing of welding seams. Additionally, abrasives in construction buildings are used in floor, ramps, steps, and stairways which are subject to slipping hazards. Likewise, many materials used in constructions are been shaped by mechanical methods and abrasive methods such as grinding, lapping, polishing, and amongst others. The construction industry is expected to bloom during the forecast period owing to factors such as a rise in disposable income, increasing urbanization, self-reliant construction culture, and amongst others. Thus, growth in the construction industry is expected to boost product market growth during the forecasted period.
- Increase in adoption for Digitalization
Digital transformation has continued impacting the organization and is expected to rise in the coming years. Increasing investment, initiatives of the executives, IoT, and artificial intelligence and amongst others are some of the factors expected to boost the demand for digitalization. Abrasives are used in the manufacturing of printed circuit boards (PCB) which are key elements in any electronic device like computers, laptops, routers, and others. Electronic devices used for digitalization are manufactured with the help of abrasives. Thus, increasing adoption for digitalization is expected to surge the growth of the abrasive market.
Abrasives are widely used in various industries such as construction, automotive, electronics & electrical, manufacturing, and others. During the process of manufacturing, some types of emissions are likely to results such as chlorides and volatile organic compounds. These emissions may be harmful to humans. Some government bodies such as Environmental Protection Agency (EPA), Centers for Disease Control and Prevention (CDC), and others have imposed regulations during the manufacturing and use of abrasive products. For instance, the European Standard, EN 13743 stats the safety requirements for coated abrasive products which help to reduce or removal of hazards resulting from the design and application of the coated abrasive products and clamping devices. However, stringent regulations imposed by the government may hinder the growth of the abrasive market.
Abrasives Market: Key Segments
- Key Abrasives Market Segments by Type: Bonded, Coasted, Super, and Others
- Key Segments by Material: Natural and Synthetic
- Key Abrasives Market Segment by Application: Buffing, Honing, Drilling, Grinding, and Others
- Key Segments by End Users: Automotive, Manufacturing, Construction, Electronics & Electrical, and others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa, and South America, with individual country-level analysis
Abrasives Market: Report Scope
The report on the Abrasives market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2019-2024 (2019 estimated year, forecasted up to 2024)
Value (USD Million), Volume (Units)
Type, Material, Application, End-User, and Region
Asia-Pacific, North America, Europe, Middle East & Africa, and South America
Key Companies Covered
- 3M (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Henan Huanghe Whirlwind
- Robert Bosch GmbH
- Ensitech Pty Ltd
- KZK Powder Tech Corp.
- Specialty Glass Inc.
- Other Key Companies
Abrasives Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Abrasives Market, by Type
Abrasives Market, by Material
Abrasives Market, by Application
Abrasives Market, by End User
- Electronics & Electrical
Abrasives Market, by Region
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of the global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
- Abrasives Market Providers
- Abrasives Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Abrasives Market
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Government Bodies and Intellectual Institutions
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE ABRASIVES MARKET STUDY
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1. Rise in Construction Industry
4.2.2. Increase in adoption for Digitalization
4.3.1. Stringent Regulations
4.4.1. Rise in Demand in Medical & Biotechnology sector
4.5.1 Volatile Raw Material Costs
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 ABRASIVES MARKET BY TYPE, Market Size in USD Million (2017—2024)
7 ABRASIVES MARKET BY MATERIAL, Market Size in USD Million (2017—2024)
8 ABRASIVES MARKET BY APPLICATION, Market Size in USD Million (2017—2024)
9 ABRASIVES MARKET BY END USER, Market Size in USD Million (2017—2024)
9.4 Electronics & Electrical
10 ABRASIVES MARKET BY REGION, Market Size in USD Million (2017—2024)
10.1 North America
8.2.7. The Netherlands
8.2.8. Rest of Europe
8.3.4. South Korea
8.3.6. Rest of Asia-Pacific
10.4 Middle East & Africa
8.4.1. Saudi Arabia
8.4.3. Rest of Middle East & Africa
10.5 South America
8.5.3. Rest of South America
11 COMPETITIVE LANDSCAPE
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 Henan Huanghe Whirlwind
12.4 Robert Bosch GmbH
12.7 Ensitech Pty Ltd
12.8 KZK Powder Tech Corp.
12.9 Specialty Glass Inc.
12.11 Other Key Companies
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY