Abrasives Market | Worldwide Industry Segmentation, Analysis by Production, Consumption, Revenue and Growth Rate by 2023

Abrasives Market
Global abrasives market research: information by material (natural and synthetic), product (grinding wheel, sandpaper) type (coated abrasives, bonded abrasives) end-user industry (automobiles, construction, electronics and others) – Forecast till 2023

Overall Industry News:

22nd March 2017– KPS chemical partners has entered into an agreement through a newly formed affiliate to acquire WHA holding SAS from a group of investors. This move is expected to help KPS chemicals substantially in terms of advanced manufacturing and distribution footprint.

16th March 2015 – Atto Abrasives a manufacturer of specialized rubber bonded abrasives has announced the acquisition of Emma Irene Rubber Industries. The addition of the new products form Emma Irene Company is anticipated to widen their product portfolio and help them ensure a better grip in the Global Abrasives Market.

Abrasives Market- Competitive Landscape

The Global Abrasives Market is a highly lucrative market driven by flourishing growth in electrical and electronic and the building & construction industry. Robert Bosch GMBH (Germany), 3M Company (U.S.), DuPont (U.S.), Saint-Gobain Abrasives, Inc. (France), Fujimi Incorporated (Japan), Henkel AG & CO. KGAA (Germany) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the Global Abrasives Market is projected to witness considerable competition over the forecast period of 2017-2023.

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Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the region has propelled the various end use industries which is substantially contributing to the growth of the market in this region. Moreover, the growing population especially in India and China has resulted in more investment in infrastructural development which in turn is further boosting the abrasives market. Furthermore, the North American and the European abrasives market is anticipated to show a moderate growth during the assessed years.

Abrasives Market – Market Overview

An Abrasive is a materials which is generally used on another material to get a desired shape. Abrasives are generally used for rubbing, grinding, buffing and sanding in industrial applications. This materials are often hard minerals which are used in wide range of industries such as automotive, electrical & electronics, building & construction, and metal fabrication among others. The major applications of abrasives includes grinding, tool sharpening, metal cleaning, blast cleaning and de flashing. The growing demand form the developing regions across the globe is positively contributing to the growth of the global market. Moreover, the advantages of abrasives such as high tensile strength makes them ideal for the use in the building & construction and the automobile industry. Abrasives are segmented on the basis of their material, type, product, end use industry and region.

On the basis of the type bonded abrasives is the dominant segment and is expected to continue its dominance during the forecast period. On the basis of product type, the grinding wheel product is anticipated to be the leading one. This advantages of grinding wheel such as high tensile strength, productivity, efficiency and speed is positively contributing to the growth of the segment.

According to the analysis of MRFR, the major market forces and trends driving growth of the Global Abrasives Market includes growing investment in the construction sector and the burgeoning demand from the automobile industry. Moreover, the increasing per capita income m in the developing countries across the globe has augmented the construction and automobile in turn propelling the growth of the Global Abrasives Market during the given period.  In addition, the growing government expenditure in the developed region for construction and remodeling of residential and commercial infrastructure are other factors contributing to the market growth.

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