COVID-19 Impact on the Abrasives Market: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 OverviewThe 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 OverviewThe 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 OverviewThe 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 SegmentationAbrasives 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
- 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
List of Figures
Figure 1: Global Abrasives Market Revenue Breakdown (USD Billion, %) by Region, 2023 & 2030
Figure 2: Global Market Value Share (%), By Segment 1, 2023 & 2030
Figure 3: Global Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 4: Global Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 5: Global Market Value Share (%), By Segment 2, 2023 & 2030
Figure 6: Global Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 7: Global Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 8: Global Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 9: Global Abrasives Market Forecast (USD Billion), by Others, 2021-2030
Figure 10: Global Market Value Share (%), By Segment 3, 2023 & 2030
Figure 11: Global Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 12: Global Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 13: Global Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 14: Global Market Forecast (USD Billion), by Others, 2021-2030
Figure 15: Global Market Value (USD Billion), by Region, 2023 & 2030
Figure 16: North America Abrasives Market Value Share (%), By Segment 1, 2023 & 2030
Figure 17: North America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 18: North America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 19: North America Market Value Share (%), By Segment 2, 2023 & 2030
Figure 20: North America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 21: North America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 22: North America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 23: North America Market Forecast (USD Billion), by Others, 2021-2030
Figure 24: North America Market Value Share (%), By Segment 3, 2023 & 2030
Figure 25: North America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 26: North America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 27: North America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 28: North America Market Forecast (USD Billion), by Others, 2021-2030
Figure 29: North America Market Forecast (USD Billion), by U.S., 2021-2030
Figure 30: North America Market Forecast (USD Billion), by Canada, 2021-2030
Figure 31: Latin America Abrasives Market Value Share (%), By Segment 1, 2023 & 2030
Figure 32: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 33: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 34: Latin America Market Value Share (%), By Segment 2, 2023 & 2030
Figure 35: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 36: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 37: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 38: Latin America Market Forecast (USD Billion), by Others, 2021-2030
Figure 39: Latin America Market Value Share (%), By Segment 3, 2023 & 2030
Figure 40: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 41: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 42: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 43: Latin America Market Forecast (USD Billion), by Others, 2021-2030
Figure 44: Latin America Market Forecast (USD Billion), by Brazil, 2021-2030
Figure 45: Latin America Market Forecast (USD Billion), by Mexico, 2021-2030
Figure 46: Latin America Market Forecast (USD Billion), by Rest of Latin America, 2021-2030
Figure 47: Europe Abrasives Market Value Share (%), By Segment 1, 2023 & 2030
Figure 48: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 49: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 50: Europe Market Value Share (%), By Segment 2, 2023 & 2030
Figure 51: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 52: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 53: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 54: Europe Market Forecast (USD Billion), by Others, 2021-2030
Figure 55: Europe Market Value Share (%), By Segment 3, 2023 & 2030
Figure 56: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 57: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 58: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 59: Europe Market Forecast (USD Billion), by Others, 2021-2030
Figure 60: Europe Market Forecast (USD Billion), by U.K., 2021-2030
Figure 61: Europe Market Forecast (USD Billion), by Germany, 2021-2030
Figure 62: Europe Market Forecast (USD Billion), by France, 2021-2030
Figure 63: Europe Market Forecast (USD Billion), by Italy, 2021-2030
Figure 64: Europe Market Forecast (USD Billion), by Spain, 2021-2030
Figure 65: Europe Market Forecast (USD Billion), by Russia, 2021-2030
Figure 66: Europe Market Forecast (USD Billion), by Rest of Europe, 2021-2030
Figure 67: Asia Pacific Abrasives Market Value Share (%), By Segment 1, 2023 & 2030
Figure 68: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 69: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 70: Asia Pacific Market Value Share (%), By Segment 2, 2023 & 2030
Figure 71: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 72: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 73: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 74: Asia Pacific Market Forecast (USD Billion), by Others, 2021-2030
Figure 75: Asia Pacific Market Value Share (%), By Segment 3, 2023 & 2030
Figure 76: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 77: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 78: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 79: Asia Pacific Market Forecast (USD Billion), by Others, 2021-2030
Figure 80: Asia Pacific Market Forecast (USD Billion), by China, 2021-2030
Figure 81: Asia Pacific Market Forecast (USD Billion), by India, 2021-2030
Figure 82: Asia Pacific Market Forecast (USD Billion), by Japan, 2021-2030
Figure 83: Asia Pacific Market Forecast (USD Billion), by Australia, 2021-2030
Figure 84: Asia Pacific Market Forecast (USD Billion), by Southeast Asia, 2021-2030
Figure 85: Asia Pacific Market Forecast (USD Billion), by Rest of Asia Pacific, 2021-2030
Figure 86: Middle East & Africa Abrasives Market Value Share (%), By Segment 1, 2023 & 2030
Figure 87: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 88: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 89: Middle East & Africa Market Value Share (%), By Segment 2, 2023 & 2030
Figure 90: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 91: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 92: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 93: Middle East & Africa Market Forecast (USD Billion), by Others, 2021-2030
Figure 94: Middle East & Africa Market Value Share (%), By Segment 3, 2023 & 2030
Figure 95: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2021-2030
Figure 96: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2021-2030
Figure 97: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2021-2030
Figure 98: Middle East & Africa Market Forecast (USD Billion), by Others, 2021-2030
Figure 99: Middle East & Africa Market Forecast (USD Billion), by GCC, 2021-2030
Figure 100: Middle East & Africa Market Forecast (USD Billion), by South Africa, 2021-2030
Figure 101: Middle East & Africa Market Forecast (USD Billion), by Rest of Middle East & Africa, 2021-2030
List of Tables
Table 1: Global Abrasives Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 2: Global Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 3: Global Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 4: Global Market Revenue (USD Billion) Forecast, by Region, 2021-2030
Table 5: North America Abrasives Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 6: North America Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 7: North America Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 8: North America Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 9: Europe Abrasives Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 10: Europe Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 11: Europe Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 12: Europe Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 13: Latin America Abrasives Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 14: Latin America Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 15: Latin America Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 16: Latin America Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 17: Asia Pacific Abrasives Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 18: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 19: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 20: Asia Pacific Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Table 21: Middle East & Africa Abrasives Market Revenue (USD Billion) Forecast, by Segment 1, 2021-2030
Table 22: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 2, 2021-2030
Table 23: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 3, 2021-2030
Table 24: Middle East & Africa Market Revenue (USD Billion) Forecast, by Country, 2021-2030
Research Process
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
Primary Research
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 Research
Secondary 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 Estimation
Both, 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
