Abrasives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Abrasives Market is segmented by Material (Natural Abrasives and Synthetic Abrasives), Abrasive Material Type (Conventional Abrasives and Super Abrasives), Type (Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, and Super Construction Abrasives), Application (Grinding, Cutting, Polishing, Drilling, and Other Applications), End-user Industry (Metal Manufacturing, Electronics, Construction, Automotive, Aerospace, Medical, Oil and Gas, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers the market size and forecasts for abrasives in revenue (USD million) for all the above segments.

Abrasives Market Snapshot

Abrasives Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: >5 %

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Market Overview

The global abrasives market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Considering the pandemic, the activities of various end-user industries of abrasives, including metal manufacturing, construction, and other industrial activities, were temporarily halted during the lockdown, thereby leading to a decrease in the demand for abrasives. For instance, according to the OICA, automobile production declined by around 16% in 2020, compared to 2019. However, the construction industry is recovering fast after the COVID-19 outbreak. Thus, the construction industry is expected to positively impact the market's growth in the coming years.

  • Over the short term, the growing construction sectors in emerging economies are expected to drive the market's growth.
  • However, the stringent regulations on the usage of silica abrasives are likely to hinder the market.
  • The significant investment in research and development activities related to abrasives is likely to create opportunities for the market in the coming years.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

The abrasives market is segmented by material, abrasive material type, type, application, end-user industry, and geography. By material, the market is segmented into natural abrasives and synthetic abrasives. By abrasive material type, the market is segmented into conventional abrasives and super abrasives. By type, the market is segmented into bonded abrasives, coated abrasives, super precision abrasives, and super construction abrasives. By application, the market is segmented into grinding, cutting, polishing, drilling, and other applications. By end-user industry, the market is segmented into metal manufacturing, electronics, construction, automotive, aerospace, medical, oil and gas, and other end-user industries. The report also covers the market size and forecasts for the abrasives market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).

Material
Natural Abrasives
Synthetic Abrasives
Abrasive Material Type
Conventional Abrasives
Aluminum Oxide
Boron Carbide
Cerium Oxide
Silicon Carbide
Other Conventional Abrasives
Super Abrasives
Diamond
Vitrified Diamond
Electroplated Diamond
Resin Bond Diamond
Metal Diamond
Cubic Boron Nitride (CBN)
Vitrified CBN
Electroplated CBN
Resin Bond CBN
Metal CBN
Type
Bonded Abrasives
Coated Abrasives
Super Precision Abrasives
Super Construction Abrasives
Application
Grinding
Cutting
Polishing
Drilling
Other Applications
End-user Industry
Metal Manufacturing
Electronics
Construction
Automotive
Aerospace
Medical
Oil and Gas
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Nordic Countries
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Usage in the Construction Industry

  • In the building and construction industry, abrasives are used in heavy-duty applications, including grinding, drilling, cutting, and sanding.
  • They are used for cutting reinforced concrete, tiles, stone, and granite. Thus, they are embedded in machine tools, including masonry, floor, tile, and handheld saws, core drilling equipment, floor grinders, and power trowels.
  • The global construction industry was valued at about USD 12 trillion in 2019, recording a growth rate of about 4% compared to the previous year. It is expected to reach USD 8 trillion by 2030, primarily driven by countries such as India, China, and the United States.
  • The US construction industry is set to continue its relatively solid growth over the forecast period, supported by the expanding residential construction sector.
  • In 2019, the total value of new construction put in place in the United States was about USD 1,365 billion. This value reached about USD 1,430 billion in 2020, registering a growth rate of about 4.5%.
  • In India, the foreign direct investment (FDI) received in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) from April 2000 to December 2019 stood at USD 25.37 billion, according to the Department for the Promotion of Industry and Internal Trade (DPIIT).
  • Therefore, the aforementioned factors are expected to significantly impact the market in the coming years.
Abrasives Market Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the abrasives market in the future. In this region, China is the largest economy in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world today. The country’s manufacturing sector is one of the major contributors to the economy.
  • The Chinese aircraft industry experienced significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
  • The foreign investments in China have also been extended into the aviation sector, which is projected to register a CAGR of 6%. These investments are being made owing to China’s geographical location, which provides easy access to the industrial goods markets in the neighboring countries and other countries globally, making it a major access point for manufacturers and suppliers.
  • China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been focusing on product evolution and manufacturing products to ensure fuel economy and minimize emissions. This focus is due to the growing environmental concerns related to the rising pollution levels in the country.
  • Abrasives also find applications in the automotive manufacturing segment. In 2020, the production of automobiles decreased by around 2% compared to 2019, reaching a total of 25.23 million units. This led to a decrease in the demand for abrasives in automotive manufacturing for applications including cutting and grinding.
  • China is in experiencing massive growth in its construction sector. The country has the largest building market in the world, accounting for 20% of all construction investment globally. It is expected to spend nearly USD 13 trillion on buildings by 2030.
  • The aforementioned factors are expected to show a significant impact on the market in the coming years.
Abrasives Market Growth By Region

Competitive Landscape

The abrasives market is partially fragmented in nature. Some of the major players in the market include 3M, ARC Abrasives Inc., Abrasive Technology Inc., Fujimi Incorporated, and Saint-Gobain|.

Recent Developments

  • In September 2020, RPM International Inc. announced that its rust-oleum business had acquired Ali Industries LLC, a leading manufacturer of sandpaper and other abrasives. This move led to an enhancement in the company's abrasives business and expanded its product portfolio.
  • In October 2019, SAK Abrasives Limited acquired a New York-based firm, Buffalo Abrasives Inc., a manufacturer of resin bonded grinding wheels. This acquisition enhanced the former's product portfolio and its business.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Construction Activities in Asia-Pacific and the United States

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Regulations on Usage of Silica Abrasives

      2. 4.2.2 Impact of COVID-19 Pandemic

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Material

      1. 5.1.1 Natural Abrasives

      2. 5.1.2 Synthetic Abrasives

    2. 5.2 Abrasive Material Type

      1. 5.2.1 Conventional Abrasives

        1. 5.2.1.1 Aluminum Oxide

        2. 5.2.1.2 Boron Carbide

        3. 5.2.1.3 Cerium Oxide

        4. 5.2.1.4 Silicon Carbide

        5. 5.2.1.5 Other Conventional Abrasives

      2. 5.2.2 Super Abrasives

        1. 5.2.2.1 Diamond

          1. 5.2.2.1.1 Vitrified Diamond

          2. 5.2.2.1.2 Electroplated Diamond

          3. 5.2.2.1.3 Resin Bond Diamond

          4. 5.2.2.1.4 Metal Diamond

        2. 5.2.2.2 Cubic Boron Nitride (CBN)

          1. 5.2.2.2.1 Vitrified CBN

          2. 5.2.2.2.2 Electroplated CBN

          3. 5.2.2.2.3 Resin Bond CBN

          4. 5.2.2.2.4 Metal CBN

    3. 5.3 Type

      1. 5.3.1 Bonded Abrasives

      2. 5.3.2 Coated Abrasives

      3. 5.3.3 Super Precision Abrasives

      4. 5.3.4 Super Construction Abrasives

    4. 5.4 Application

      1. 5.4.1 Grinding

      2. 5.4.2 Cutting

      3. 5.4.3 Polishing

      4. 5.4.4 Drilling

      5. 5.4.5 Other Applications

    5. 5.5 End-user Industry

      1. 5.5.1 Metal Manufacturing

      2. 5.5.2 Electronics

      3. 5.5.3 Construction

      4. 5.5.4 Automotive

      5. 5.5.5 Aerospace

      6. 5.5.6 Medical

      7. 5.5.7 Oil and Gas

      8. 5.5.8 Other End-user Industries

    6. 5.6 Geography

      1. 5.6.1 Asia-Pacific

        1. 5.6.1.1 China

        2. 5.6.1.2 India

        3. 5.6.1.3 Japan

        4. 5.6.1.4 South Korea

        5. 5.6.1.5 ASEAN Countries

        6. 5.6.1.6 Rest of Asia-Pacific

      2. 5.6.2 North America

        1. 5.6.2.1 United States

        2. 5.6.2.2 Canada

        3. 5.6.2.3 Mexico

      3. 5.6.3 Europe

        1. 5.6.3.1 Germany

        2. 5.6.3.2 United Kingdom

        3. 5.6.3.3 France

        4. 5.6.3.4 Italy

        5. 5.6.3.5 Nordic Countries

        6. 5.6.3.6 Rest of Europe

      4. 5.6.4 South America

        1. 5.6.4.1 Brazil

        2. 5.6.4.2 Argentina

        3. 5.6.4.3 Rest of South America

      5. 5.6.5 Middle-East and Africa

        1. 5.6.5.1 Saudi Arabia

        2. 5.6.5.2 South Africa

        3. 5.6.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Abrasive Technology Inc.

      3. 6.4.3 Allied High Tech Products Inc.

      4. 6.4.4 Almatis GmbH

      5. 6.4.5 ARC Abrasives Inc.

      6. 6.4.6 Asahi Diamond Industrial Co. Ltd

      7. 6.4.7 CMC Materials

      8. 6.4.8 Dewalt

      9. 6.4.9 Fujimi Incorporated

      10. 6.4.10 Henkel AG & Co. KGaA

      11. 6.4.11 Klingspor

      12. 6.4.12 Murugappa Group (Carborundum Universal Limited)

      13. 6.4.13 Noritake Co. Limited

      14. 6.4.14 Pan Abrasives

      15. 6.4.15 Radiac Abrasives

      16. 6.4.16 Robert Bosch GmbH

      17. 6.4.17 RPM International Inc.

      18. 6.4.18 Saint-Gobain

      19. 6.4.19 SAK Abrasives Limited

      20. 6.4.20 Super Abrasives

      21. 6.4.21 Tyrolit Schleifmittelwerke Swarovski KG

      22. 6.4.22 Uneeda Enterprizes Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Significant Investment in Research and Development Activities

**Subject to Availability

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Frequently Asked Questions

The Abrasives Market market is studied from 2016 - 2026.

The Abrasives Market is growing at a CAGR of >5% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

Asia-Pacific holds highest share in 2020.

3M, ARC ABRASIVES, INC., Abrasive Technology, Inc., Fujimi Incorporated, Saint-Gobain are the major companies operating in Abrasives Market.

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