The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply for raw materials, which directly affected the manufacturing process. Further, the halt in many end-use industries directly affected the chemical demand all around the world.
Abrasives Market Overview
The global abrasives market size was recorded at USD 41.68 billion in 2021 and is expected to hit around USD 65.56 billion by the end of 2030 with a registered CAGR of 4.8% during the forecast period 2023 to 2030.
An abrasive is a material, which is used to cut, grind and polish other softer materials. The global abrasives market has been expanding working with the global machinery, automotive, and metal fabrication industry. A large demand for machinery for the rising industrialization and urbanization has played a significant role in the growth of the global abrasives market. Abrasives find wide application in the automotive sector for lowering noise levels and minimizing carbon emissions. Also, they are used in the manufacturing of automotive parts, such as mirrors, valve springs, and fuel and deaeration tanks. Which further fuels the demand for abrasives.
Furthermore, the booming electronics and manufacturing industries are another growth factor for the market. Abrasives are used in these industries to scrape metal for manufacturing semiconductors and other electronic equipment with accuracy. Besides, leading companies are focusing on various product innovations, such as the development of polyester- and fabric-based abrasives. They are also producing advanced coated abrasives for metal fabrication, which is boosting the abrasives market growth. Additionally, the higher adoption of super-abrasives for grinding and cutting of hard metals with precision, also propelling their sales globally.
On the other hand, strict rules for the use of silica abrasives and unstable prices of raw materials acting as a barrier to the growth of the global abrasives market.
Abrasives Market Segment Overview
The bonded segment dominated the global market in terms of revenue share in 2020. Bonded abrasives include grinding wheels, snagging wheels, mounted wheels, and others. They are used for rough grinding applications and precision due to their high efficiency and advanced operational capability. In addition, the coated product segment is the fastest-growing segment in the market. Coated abrasive forms include roll, sheet, disc, belt, and flap-wheel products. Rising demand for these products provides new opportunities for companies to expand their production capacities.
However, due to the sudden outbreak of the COVID-19 pandemic, governments of many countries have imposed complete lockdowns. Hence, disruptions in the supply chain and the unavailability of labour, have stopped the operations of several manufacturing units. This key factor negatively impacted the growth of the market.
Abrasives Market Regional Overview
The Asia Pacific is anticipated to dominate the overall market, throughout the forecast period. China is the leading domestic market for the production of abrasive materials and abrasive products. Hence, Asia Pacific will show a significant growth rate throughout the forecast period. North America is contributing a major share of the markets due to the rising product demand from the automotive and aerospace & defense industries. In addition, remarkable growth in the metal fabrication and machining industries in North America is also expected to offer profitable growth opportunities to the manufacturers. For instance, in July 2020, Sargent Metal Fabricators Inc. announced its plan to expand operations in South Carolina, U.S. with an investment of USD 9.5 million.
Abrasives Market Competitor Overview
The global abrasives market displays fragmentation with the presence of many prominent players. Mergers and acquisitions, collaborations, and product innovation are some of the growth strategies of those players to improve their market share.
· In May 2019, Henkel announced the acquisition of Molecule Corp. a US-based 3D printing and industrial inkjet company. Henkel strengthened the additive manufacturing portfolio by this acquisition.
· In May 2018, Bosch extended its new product in the range of abrasives by developing 2 step grinding system for angle grinders that enable a higher removal rate and offer finer surfaces.
· In May 2018, Saint-Gobain Group in Thailand launched a brand-new abrasive product called “Weber by Norton” at The Architect Fair 2018. The company is now offering a new range of products under the Weber brand in Thailand, including 4 diamond blades, thin wheel, GC grinding wheel, flap disc, and fiber disc.
Abrasives Market, Key Players
· Robert Bosch GmbH (Germany)
· NIPPON RESIBON CORPORATION (Japan)
· Saint-Gobain (U.S.)
· Asahi Diamond Industrial Co., Ltd. (Japan)
· Fujimi Incorporated (Japan)
· Carborundum Universal Limited (India)
· The 3M Company (U.S.)
· Henkel AG & Co. KGaA (Germany)
· Krebs & Riedel (Germany)
· KWH Mirka (Finland)
· NORITAKE CO., LIMITED (Japan)
Abrasives Market Segmentation
Abrasives Market, By Product
· Bonded Abrasives
· Raw Superabrasives
· Loose Abrasive Grains
· Coated Abrasives
· Steel Abrasives
Abraives Market, By End-Use
· Machinery
· Transportation
· Metal Fabrication
· Electrical & Electronic Equipment
· Others
Abrasives market, By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Abrasives Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Pre-Combustion
- 5.2.2. Post Combustion
- 5.2.3. Oxy-Fuel Combustion
- 5.3. Market Analysis, Insights and Forecast – By End-Use
- 5.3.1. Machinery
- 5.3.2. Transportation
- 5.3.3. Metal Fabrication
- 5.3.4. Electrical & Electronic Equipment
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America Abrasives Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Bonded Abrasives
- 6.2.2. Raw Superabrasives
- 6.2.3. Loose Abrasive Grains
- 6.2.4. Coated Abrasives
- 6.2.5. Steel Abrasives
- 6.3. Market Analysis, Insights and Forecast – By End-Use
- 6.3.1. Machinery
- 6.3.2. Transportation
- 6.3.3. Metal Fabrication
- 6.3.4. Electrical & Electronic Equipment
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Latin America Abrasives Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Bonded Abrasives
- 7.2.2. Raw Superabrasives
- 7.2.3. Loose Abrasive Grains
- 7.2.4. Coated Abrasives
- 7.2.5. Steel Abrasives
- 7.3. Market Analysis, Insights and Forecast – By End-Use
- 7.3.1. Machinery
- 7.3.2. Transportation
- 7.3.3. Metal Fabrication
- 7.3.4. Electrical & Electronic Equipment
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. Brazil
- 7.4.2. Mexico
- 7.4.3. Rest of Latin America
8. Europe Abrasives Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Bonded Abrasives
- 8.2.2. Raw Superabrasives
- 8.2.3. Loose Abrasive Grains
- 8.2.4. Coated Abrasives
- 8.2.5. Steel Abrasives
- 8.3. Market Analysis, Insights and Forecast – By End-Use
- 8.3.1. Machinery
- 8.3.2. Transportation
- 8.3.3. Metal Fabrication
- 8.3.4. Electrical & Electronic Equipment
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. UK
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
9. Asia Pacific Abrasives Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Bonded Abrasives
- 9.2.2. Raw Superabrasives
- 9.2.3. Loose Abrasive Grains
- 9.2.4. Coated Abrasives
- 9.2.5. Steel Abrasives
- 9.3. Market Analysis, Insights and Forecast – By End-Use
- 9.3.1. Machinery
- 9.3.2. Transportation
- 9.3.3. Metal Fabrication
- 9.3.4. Electrical & Electronic Equipment
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South East Asia
- 9.4.6. Rest of Asia Pacific
10. Middle East & Africa Abrasives Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Product
- 10.2.1. Bonded Abrasives
- 10.2.2. Raw Superabrasives
- 10.2.3. Loose Abrasive Grains
- 10.2.4. Coated Abrasives
- 10.2.5. Steel Abrasives
- 10.3. Market Analysis, Insights and Forecast – By End-Use
- 10.3.1. Machinery
- 10.3.2. Transportation
- 10.3.3. Metal Fabrication
- 10.3.4. Electrical & Electronic Equipment
- 10.3.5. Others
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2021
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Saint Gobain SA
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. Robert Bosch GmbH
- 11.6. TYROLIT Schleifmittelwerke Swarovski K.G.
- 11.7. 3M
- 11.8. DuPont
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
