According to a report by Grand View Research, Inc., global abrasives market is anticipated to value USD 59.34 billion by 2025. Growing need for materials that can be used to polish or grind substrates including metal and wood is anticipated to propel demand for abrasives. These abrasives can be synthetic or natural and possess properties including hardness, purity, and brittleness.
Increasing use of abrasives to produce automotive offering superior surface finish can fuel growth of market. Growing concerns regarding safety of environment is expected to push automobile companies to product light-weight vehicles. This, in turn can surge demand for high-quality abrasives to quality assemblies and engine components. Light weight vehicles are likely to emit less carbon dioxide and deliver great performance. Thus, properly finished components using abrasives can support automobile companies to produce advanced vehicles. Moreover, growing need of abrasives in construction sector for various purposes can also fuel growth of market during the forecast period (2014 to 2025).
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The abrasives market can be segregated on the basis of type, material, end-use, and region. Based on type, the market can be categorized into coated, bonded, and super abrasives. In 2016, bonded abrasives segment dominated the market and accounted for largest market share. The segment is predicted to grow well during next few years. Rubber, ceramic, resinoid, shellac, and oxychloride of magnesium can be used for bonding various grains and create bonded abrasive products. Vitrified or ceramic type of bonding is expected to be most used method to produce abrasives as compared to shellac type of bonding.
On the contrary, coated abrasives are expected to witness significant growth during the forecast period. It is likely to grow at CAGR of 6.6% in terms of revenue in coming years. Such abrasives can be made from silicon carbide minerals and aluminum oxide.
Moreover, superabrasives segment accounted for 21.44% of global market share. Rising demand for hard materials to obtain high surface finish can influence growth of segment. In addition, increasing use of computer numerical control (CNC) machines can boost demand for superabrasives in coming years.
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Based on material, the market can be bifurcated into synthetic and natural. Synthetic abrasives segment is predicted to witness significant growth during the forecast period. Superior physical properties coupled with high efficiency and durability can surge demand for synthetic abrasives in next few years.
On the contrary, natural abrasives segment is predicted to witness slow growth over the forecast period. Lack of availability and high production cost can restrict demand for natural abrasives.
Based on end-use, the market can be classified into machinery, metal fabrication, automotive, electronic & electrical equipment, and others. In 2016, automotive sector dominated the market and accounted for 39% of overall market volume. Increasing use of abrasives in automotive sector for repair sanding, coarse sanding, and polishing can fuel growth. Growing need for sandpapers with grit number ranging from 24 to 2000 in automotive sector can stimulate growth.
Regional segmentation includes Asia Pacific, Europe, North America, South & Central America, and Middle East & Africa. Asia Pacific is estimated to dominate the market during the forecast period in terms of volume and revenue. Rising demand for electronic and electrical components in the region attributed to urbanization can fuel market growth.
In North America and Europe, the market is likely to witness significant growth over the forecast period. Rising demand for abrasives among local manufacturers for grinding and rolling purposes can influence growth of market in the region. In addition, continual growth of market in these regions is expected to create lucrative opportunities for new entrants.
Some of the leading companies offering abrasives are Robert Bosch Gmbh; 3M Company; Saint-Gobain Abrasives, Inc.; Nippon Resibon Corporation; and Dronco GmbH. Most companies are expected to focus on efficient operations to maintain competitive edge over others. In addition, these companies are likely to remain consistent in technology advancements to match high precision surface finish. This, in turn can enhance profitability of manufacturing companies and fuel growth of market during the forecast period.
Grand View Research has segmented the global abrasives market on the basis of type, material, end use, and region.
Abrasives Market Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Abrasives Market Material Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Abrasives Market End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
Electronic & Electrical Equipment
Abrasives Market Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)
South & Central America
Middle East & Africa
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