Product Code: A01825
According to a new report published by Allied Market Research, titled, "Abrasives Market," The abrasives market was valued at $42.6 billion in 2022, and is estimated to reach $67 billion by 2032, growing at a CAGR of 4.7% from 2023 to 2032.
Abrasives are materials or substances that are used for grinding, polishing, cutting, or shaping other materials through the process of abrasion. They are characterized by their hardness, strength, and ability to remove material from surfaces through friction. Abrasives are available in various forms, including natural minerals, synthetic compounds, or a combination of both. They can be in the form of grains, powders, compounds, or coated or bonded materials. The main purpose of abrasives is to alter the surface of a material by wearing it down or smoothing it out. This can involve removing unwanted material, such as burrs or rough edges, or achieving a desired finish, such as a polished or smooth surface.
Abrasives are widely used in industries such as manufacturing, automotive, construction, metalworking, woodworking, electronics, and many others. They are employed in various applications, including grinding, sanding, cutting, polishing, deburring, and shaping different materials such as metals, ceramics, glass, plastics, and composites. The choice of abrasives depends on factors such as the material being worked on, the desired level of precision, the type of application, and specific requirements of the task. Different types of abrasives, such as abrasive discs, grinding wheels, belts, or stones, are used in conjunction with appropriate tools or machinery to achieve the desired results.
Factors such as increase in disposable income, technological upgrades, and spurring rise in original equipment manufacturers (OEMs) have led the automotive sector to witness a significant growth. For instance, according to a report published by India Brands Equity Foundation, the domestic automobile production increased by a compound annual growth rate (CAGR) of 2.36% from 2016-20 with 26.36 million vehicles being manufactured in India in 2020.
Abrasives find extensive use in grinding, sanding, and polishing applications during vehicle production, as well as in automotive repair and maintenance. The automotive sector's growth and evolution significantly impact the abrasives market. Technological advancements, such as the development of electric vehicles (Evs) and the rise in use of lightweight materials such as aluminum and carbon fiber composites, influence the demand for abrasives. Evs, for instance, require specialized abrasive tools for the manufacturing and assembly of their unique components. Moreover, the automotive industry's focus on aesthetics and high-quality surface finishes further drives the demand for abrasives.
Furthermore, the growth of manufacturing and industrial sectors is a significant driver of the abrasives market. Abrasives are indispensable in various manufacturing processes, including grinding, polishing, cutting, and finishing. As industrial activities expand, the demand for abrasives increases, thus propelling market growth. The manufacturing sector encompasses a broad range of industries, including automotive, aerospace, machinery, electronics, consumer goods, and many more. Each of these industries relies on abrasives to varying degrees for their manufacturing operations. As these industries experience growth and innovation, the demand for abrasives correspondingly rise, thus driving the growth of the market.
However, the abrasives market is highly competitive, with numerous players operating on both, global and regional levels. Manufacturers compete based on factors such as product quality, performance, price, delivery speed, and customer service. The presence of established market players and entry of new competitors intensifies competition within the industry. This can lead to price pressures, reduced profit margins, and the need for continuous innovation and differentiation to maintain market share. Intense competition can also result in market saturation and consolidation, making it challenging for smaller players to compete effectively.
On the contrary, rise in awareness of environmental concerns and sustainability is becoming an influential driver for the growth of the abrasives market. Industries and consumers are increasingly prioritizing eco-friendly and sustainable practices and products. In response, abrasives manufacturers focus on developing sustainable solutions to meet these demands and align with global sustainability goals. For example, there is a rise in preference for abrasive products that are recyclable, low in emissions, and environmentally friendly. In addition, manufacturers are exploring alternatives to traditional abrasive materials, such as natural and bio-based abrasives, to reduce the environmental impact of their products. Adoption of sustainable practices addresses environmental concerns as well as offer market differentiation and competitive advantage.
The abrasives market is segmented on the basis of type, material, end-use industry, and region. On the basis of type, the market is categorized into bonded abrasives, coated abrasives, and super abrasives. On the basis of material, it is divided into natural abrasives and synthetic abrasives. On the basis of end-use industry, it is classified into automotive, metal fabrication, machinery, electronics, construction, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global abrasives market profiles leading players that include: 3M Company, Bullard Abrasives, Inc., Carborundum Universal Limited, Deerfos, Hindustan Abrasives, Osborn Lippert India Private Limited., Robert Bosch Power Tools GmbH, Saint-Gobain, SAK ABRASIVES LIMITED, and Sterling Abrasives Limited. The global abrasives market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the abrasives market analysis from 2022 to 2032 to identify the prevailing abrasives market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the abrasives market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global abrasives market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Bonded Abrasives
- Coated Abrasives
- Super Abrasives
By Material
By End Use Industry
- Automotive
- Metal Fabrication
- Machinery
- Electronics
- Construction
- Others
By Region
- North America
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players:
- 3M Company
- Bullard Abrasives, Inc.
- Carborundum Universal Limited
- deerfos
- Hindustan Abrasives
- Osborn Lippert India Private Limited.
- Robert Bosch Power Tools GmbH
- Saint-Gobain
- SAK ABRASIVES LIMITED
- Sterling Abrasives Limited
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Moderate bargaining power of suppliers
- 3.3.2. Moderate threat of new entrants
- 3.3.3. Moderate threat of substitutes
- 3.3.4. Moderate intensity of rivalry
- 3.3.5. Moderate bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Escalating demand from building & construction sector
- 3.4.1.2. Robust demand from automotive sector
- 3.4.1.3. Rapid establishments of manufacturing and industrial sites
- 3.4.1.4. Rise in demand from metal fabrication and machinery industries
- 3.4.2. Restraints
- 3.4.2.1. Volatility in raw material prices
- 3.4.2.2. Intense competition
- 3.4.3. Opportunities
- 3.4.3.1. Increase in focus on surface quality
- 3.4.3.2. Growing awareness of sustainability
- 3.5. COVID-19 Impact Analysis on the market
- 3.6. Pricing Analysis
- 3.7. Value Chain Analysis
- 3.8. Key Regulation Analysis
- 3.9. Patent Landscape
CHAPTER 4: ABRASIVES MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Bonded Abrasives
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Coated Abrasives
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Super Abrasives
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
CHAPTER 5: ABRASIVES MARKET, BY MATERIAL
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Natural
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Synthetic
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: ABRASIVES MARKET, BY END USE INDUSTRY
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. Automotive
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. Metal Fabrication
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Machinery
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
- 6.5. Electronics
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
- 6.6. Construction
- 6.6.1. Key market trends, growth factors and opportunities
- 6.6.2. Market size and forecast, by region
- 6.6.3. Market share analysis by country
- 6.7. Others
- 6.7.1. Key market trends, growth factors and opportunities
- 6.7.2. Market size and forecast, by region
- 6.7.3. Market share analysis by country
CHAPTER 7: ABRASIVES MARKET, BY REGION
- 7.1. Overview
- 7.1.1. Market size and forecast By Region
- 7.2. North America
- 7.2.1. Key trends and opportunities
- 7.2.2. Market size and forecast, by Type
- 7.2.3. Market size and forecast, by Material
- 7.2.4. Market size and forecast, by End Use Industry
- 7.2.5. Market size and forecast, by country
- 7.2.5.1. U.S.
- 7.2.5.1.1. Key market trends, growth factors and opportunities
- 7.2.5.1.2. Market size and forecast, by Type
- 7.2.5.1.3. Market size and forecast, by Material
- 7.2.5.1.4. Market size and forecast, by End Use Industry
- 7.2.5.2. Canada
- 7.2.5.2.1. Key market trends, growth factors and opportunities
- 7.2.5.2.2. Market size and forecast, by Type
- 7.2.5.2.3. Market size and forecast, by Material
- 7.2.5.2.4. Market size and forecast, by End Use Industry
- 7.2.5.3. Mexico
- 7.2.5.3.1. Key market trends, growth factors and opportunities
- 7.2.5.3.2. Market size and forecast, by Type
- 7.2.5.3.3. Market size and forecast, by Material
- 7.2.5.3.4. Market size and forecast, by End Use Industry
- 7.3. Europe
- 7.3.1. Key trends and opportunities
- 7.3.2. Market size and forecast, by Type
- 7.3.3. Market size and forecast, by Material
- 7.3.4. Market size and forecast, by End Use Industry
- 7.3.5. Market size and forecast, by country
- 7.3.5.1. Germany
- 7.3.5.1.1. Key market trends, growth factors and opportunities
- 7.3.5.1.2. Market size and forecast, by Type
- 7.3.5.1.3. Market size and forecast, by Material
- 7.3.5.1.4. Market size and forecast, by End Use Industry
- 7.3.5.2. UK
- 7.3.5.2.1. Key market trends, growth factors and opportunities
- 7.3.5.2.2. Market size and forecast, by Type
- 7.3.5.2.3. Market size and forecast, by Material
- 7.3.5.2.4. Market size and forecast, by End Use Industry
- 7.3.5.3. France
- 7.3.5.3.1. Key market trends, growth factors and opportunities
- 7.3.5.3.2. Market size and forecast, by Type
- 7.3.5.3.3. Market size and forecast, by Material
- 7.3.5.3.4. Market size and forecast, by End Use Industry
- 7.3.5.4. Spain
- 7.3.5.4.1. Key market trends, growth factors and opportunities
- 7.3.5.4.2. Market size and forecast, by Type
- 7.3.5.4.3. Market size and forecast, by Material
- 7.3.5.4.4. Market size and forecast, by End Use Industry
- 7.3.5.5. Italy
- 7.3.5.5.1. Key market trends, growth factors and opportunities
- 7.3.5.5.2. Market size and forecast, by Type
- 7.3.5.5.3. Market size and forecast, by Material
- 7.3.5.5.4. Market size and forecast, by End Use Industry
- 7.3.5.6. Rest of Europe
- 7.3.5.6.1. Key market trends, growth factors and opportunities
- 7.3.5.6.2. Market size and forecast, by Type
- 7.3.5.6.3. Market size and forecast, by Material
- 7.3.5.6.4. Market size and forecast, by End Use Industry
- 7.4. Asia-Pacific
- 7.4.1. Key trends and opportunities
- 7.4.2. Market size and forecast, by Type
- 7.4.3. Market size and forecast, by Material
- 7.4.4. Market size and forecast, by End Use Industry
- 7.4.5. Market size and forecast, by country
- 7.4.5.1. China
- 7.4.5.1.1. Key market trends, growth factors and opportunities
- 7.4.5.1.2. Market size and forecast, by Type
- 7.4.5.1.3. Market size and forecast, by Material
- 7.4.5.1.4. Market size and forecast, by End Use Industry
- 7.4.5.2. India
- 7.4.5.2.1. Key market trends, growth factors and opportunities
- 7.4.5.2.2. Market size and forecast, by Type
- 7.4.5.2.3. Market size and forecast, by Material
- 7.4.5.2.4. Market size and forecast, by End Use Industry
- 7.4.5.3. Japan
- 7.4.5.3.1. Key market trends, growth factors and opportunities
- 7.4.5.3.2. Market size and forecast, by Type
- 7.4.5.3.3. Market size and forecast, by Material
- 7.4.5.3.4. Market size and forecast, by End Use Industry
- 7.4.5.4. South Korea
- 7.4.5.4.1. Key market trends, growth factors and opportunities
- 7.4.5.4.2. Market size and forecast, by Type
- 7.4.5.4.3. Market size and forecast, by Material
- 7.4.5.4.4. Market size and forecast, by End Use Industry
- 7.4.5.5. Australia
- 7.4.5.5.1. Key market trends, growth factors and opportunities
- 7.4.5.5.2. Market size and forecast, by Type
- 7.4.5.5.3. Market size and forecast, by Material
- 7.4.5.5.4. Market size and forecast, by End Use Industry
- 7.4.5.6. Rest of Asia-Pacific
- 7.4.5.6.1. Key market trends, growth factors and opportunities
- 7.4.5.6.2. Market size and forecast, by Type
- 7.4.5.6.3. Market size and forecast, by Material
- 7.4.5.6.4. Market size and forecast, by End Use Industry
- 7.5. LAMEA
- 7.5.1. Key trends and opportunities
- 7.5.2. Market size and forecast, by Type
- 7.5.3. Market size and forecast, by Material
- 7.5.4. Market size and forecast, by End Use Industry
- 7.5.5. Market size and forecast, by country
- 7.5.5.1. Brazil
- 7.5.5.1.1. Key market trends, growth factors and opportunities
- 7.5.5.1.2. Market size and forecast, by Type
- 7.5.5.1.3. Market size and forecast, by Material
- 7.5.5.1.4. Market size and forecast, by End Use Industry
- 7.5.5.2. Saudi Arabia
- 7.5.5.2.1. Key market trends, growth factors and opportunities
- 7.5.5.2.2. Market size and forecast, by Type
- 7.5.5.2.3. Market size and forecast, by Material
- 7.5.5.2.4. Market size and forecast, by End Use Industry
- 7.5.5.3. South Africa
- 7.5.5.3.1. Key market trends, growth factors and opportunities
- 7.5.5.3.2. Market size and forecast, by Type
- 7.5.5.3.3. Market size and forecast, by Material
- 7.5.5.3.4. Market size and forecast, by End Use Industry
- 7.5.5.4. Rest of LAMEA
- 7.5.5.4.1. Key market trends, growth factors and opportunities
- 7.5.5.4.2. Market size and forecast, by Type
- 7.5.5.4.3. Market size and forecast, by Material
- 7.5.5.4.4. Market size and forecast, by End Use Industry
CHAPTER 8: COMPETITIVE LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Top player positioning, 2022
CHAPTER 9: COMPANY PROFILES
- 9.1. Carborundum Universal Limited
- 9.1.1. Company overview
- 9.1.2. Key Executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.2. Saint-Gobain
- 9.2.1. Company overview
- 9.2.2. Key Executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.3. Robert Bosch Power Tools GmbH
- 9.3.1. Company overview
- 9.3.2. Key Executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.4. deerfos
- 9.4.1. Company overview
- 9.4.2. Key Executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.5. SAK ABRASIVES LIMITED
- 9.5.1. Company overview
- 9.5.2. Key Executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.6. Hindustan Abrasives
- 9.6.1. Company overview
- 9.6.2. Key Executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.7. Sterling Abrasives Limited
- 9.7.1. Company overview
- 9.7.2. Key Executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.8. Bullard Abrasives, Inc.
- 9.8.1. Company overview
- 9.8.2. Key Executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.9. 3M Company
- 9.9.1. Company overview
- 9.9.2. Key Executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.10. Osborn Lippert India Private Limited.
- 9.10.1. Company overview
- 9.10.2. Key Executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio