Abrasives Market by Material (Natural, Synthetic), Type (Bonded, Coated, Super), Product Type (Disc, Cups, Cylinder), End-use Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electrical & Electronics), and Region - Global Forecast to 2023

The global abrasives market was valued at USD 40.20 billion in 2017 and is projected to reach USD 56.59 billion by 2023, at a CAGR of 5.97%. The base year considered for the study is 2017, with the CAGR projected from 2018 to 2023. The primary objective of the study is to define, segment, and project the abrasives market size on the basis of type, material, product type, end-use industry, and region. The study also aims at strategically analyzing micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market. It also provides detailed information about the main factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). In addition to this, the study analyzes competitive developments such as acquisitions, new product launches, expansions & investments, and R&D activities in the abrasives market.

The research methodology used to estimate and forecast the market size included the top-down approach. The total market size for the abrasives market was calculated, and accordingly, the percentage was allotted to different sectors in each of the segments, which were done on the basis of extensive primary interviews & secondary research, and reputed associations such as German Abrasive Associations, European Abrasive Body, Unified Abrasives Manufacturing Associations (UAMA), and Coated Abrasives Fabricator Associations (CAFA). Primary research involved in this report includes extensive interviews with key people such as CEOs, VPs, directors, and executives. After arriving at the overall market size, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary respondents is depicted in the figure below.

To know about the assumptions considered for the study, download the pdf brochure

The market ecosystem involves various stakeholders in the abrasives market. It starts with the raw material suppliers such as Bosch (Germany), 3M (US), DowDuPont (US), Saint-Gobain Abrasives (France), and Fujimi Incorporated (Japan), which are the manufacturing companies of the abrasives market. The next level in the value chain involves the assembly team that is monitored by manufacturers such as Henkel (Germany), Tyrolit (Austria), Asahi Diamond Industrial Co., LTD (Japan), Deerfos (Korea), and Carborundum Universal Limited (India), KREBS & RIEDEL (Germany), Nippon Resibon Corporation (Japan), Sankyo-Raikagaku Co., Ltd. (Japan), Abrasiflex (Australia), and Noritake Co., Limited (Japan). It is followed by the marketing and sales of the finished products, which is only possible if an efficient distribution channel is developed. Finally, the end products are distributed to the consumers.

Target Audience

• Raw material suppliers
• Abrasive manufacturers
• Traders and distributors of abrasives
• Commercial R&D institutions
• Associations and industry bodies
• Regulatory bodies
• End-use industries such as automotive, metal, electrical, electronics, and others (construction, medical devices, power generation, and cleaning & maintenance) 

“The study answers several questions for the stakeholders; primarily, which market segments to focus on in the next two to five years for prioritizing the efforts and investments.”

Scope of the Report

• This research report segments the abrasives market into the following submarkets:

By Material:

• Natural
• Synthetic
• Metallic abrasives
• Aluminium oxide
• Silicon carbide
• Others (boron carbide, ceramic aluminum oxide, and ceramic iron oxide)

By Type:

• Bonded abrasive
• Coated abrasive
• Super abrasive

By Product Type:

• Dishes
• Cups
• Discs
• Cylinder
• Others

By End-use Industry:

• Automotive
• Machinery
• Metal fabrication
• Electrical & electronics equipment
• Others (construction, medical devices, and cleaning & maintenance)

By Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

• Product Matrix, which gives a detailed comparison of market for different products and types

Geographic Analysis

• Further analysis of the abrasives market for additional countries

Company Information

• Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Units Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in the Abrasives Market
    4.2 Asia Pacific Abrasives Market, By Type & Country, 2017
    4.3 Leading Countries in the Abrasives Market, 2017
    4.4 Abrasives Market, By Material
    4.5 Abrasives Market, By Type
    4.6 Abrasives Market, By Product Type
    4.7 Abrasives Market, By End-Use Industry

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Metal Fabrication Industry
                    5.2.1.2 Growing Automobile Market
                    5.2.1.3 Massive Production of Electronics Components
                    5.2.1.4 Growing Medical Devices Market
                    5.2.1.5 Decreasing Cost of Synthetic Diamond
           5.2.2 Opportunities
                    5.2.2.1 Untapped Asia-Pacific Region has Huge Scope for Abrasive Market
           5.2.3 Challenges
                    5.2.3.1 Stringent Regulations
                    5.2.3.2 Volatile Costs of Raw Materials

6 Industry Trends (Page No. - 42)
    6.1 Introduction
    6.2 Supply Chain
    6.3 Porter’s Five Forces Analysis
           6.3.1 Bargaining Power of Suppliers
           6.3.2 Bargaining Power of Buyers
           6.3.3 Threat of New Entrants
           6.3.4 Threat of Substitutes
           6.3.5 Intensity of Competitive Rivalry

7 Abrasives Market, By Material (Page No. - 47)
    7.1 Introduction
    7.2 Natural Abrasives
    7.3 Synthetic Abrasives
           7.3.1 Synthetic Abrasives Market, By Subtype
                    7.3.1.1 Increasing Demand for Metallic Abrasives Drives the Growth of Synthetic Abrasives Segment

8 Abrasives Market, By Type (Page No. - 52)
    8.1 Introduction
    8.2 Coated Abrasives
    8.3 Bonded Abrasives
    8.4 Super Abrasives

9 Abrasives Market, By Product Type (Page No. - 56)
    9.1 Introduction

10 Abrasives Market, By End-Use Industry (Page No. - 60)
     10.1 Introduction
     10.2 Automotive
     10.3 Machinery
     10.4 Metal Fabrication
     10.5 Electrical & Electronics Equipment
     10.6 Others

11 Abrasives Market, By Region (Page No. - 66)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 Europe
             11.3.2 Germany
             11.3.3 UK
             11.3.4 Italy
             11.3.5 France
             11.3.6 Spain
             11.3.7 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
             11.4.2 Japan
             11.4.3 India
             11.4.4 South Korea
             11.4.5 Rest of Asia Pacific
     11.5 Middle East & Africa
             11.5.1 South Africa
             11.5.2 Saudi Arabia
             11.5.3 UAE
             11.5.4 Morocco
             11.5.5 Algeria
             11.5.6 Rest of Middle East & Africa
     11.6 South America
             11.6.1 Brazil
             11.6.2 Argentina
             11.6.3 Rest of South America

12 Competitive Landscape (Page No. - 111)
     12.1 Introduction
     12.2 Widely Adopted Strategy By Key Players, 2008-2017
             12.2.1 Acquisitions
             12.2.2 New Product Developments
             12.2.3 Expansions & Investments
             12.2.4 Agreements, Contracts, and Partnerships

13 Company Profiles (Page No. - 114)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     13.1 Introduction
     13.2 Robert Bosch GmbH
     13.3 3M Company
     13.4 Compagnie De Saint-Gobain S.A.
     13.5 Henkel
     13.6 Asahi Diamond Industrial
     13.7 Dowdupont
     13.8 Fujimi Incorporated
     13.9 Carborundum Universal
     13.10 Krebs & Riedel Schleifscheibenfabrik
     13.11 Deerfos
     13.12 Tyrolit Group
     13.13 Nippon Resibon Corporation
     13.14 Sankyo-Rikagaku
     13.15 Abrasiflex
     13.16 Noritake

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 143)
     14.1 Discussion Guide
     14.2 Knowledge Store: Marketsandmarkets Subscription Portal
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details

List of Tables (144 Tables)

Table 1 Regulations and Their Descriptions
Table 2 Raw Materials & Their Descriptions
Table 3 Abrasives Market Size, By Material, 2016–2023 (USD Million)
Table 4 Abrasives Market Size, By Material, 2016–2023 (KT)
Table 5 Natural Abrasives and Their Descriptions
Table 6 Synthetic Abrasives and Their Descriptions
Table 7 Synthetic Abrasive Market Size, By Subtype, 2016–2023 (USD Million)
Table 8 Synthetic Abrasives Market Size, By Subtype, 2016–2023 (KT)
Table 9 Abrasives Market Size, By Type, 2016–2023 (USD Million)
Table 10 Abrasives Market Size, By Type, 2016–2023 (KT)
Table 11 Higher Speed and Improved Grinding Systems to Propel Growth of Abrasives Market During the Forecast Period
Table 12 Abrasives Market Size, By Product Type, 2016-2023 (USD Million)
Table 13 Abrasives Market Size, By Product Type, 2016-2023 (KT)
Table 14 Abrasives Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 15 Abrasives Market Size, By End-Use Industry, 2016-2023 (KT)
Table 16 World Motor Vehicle Production 2016 (Units)
Table 17 Abrasives Market Size, By Region, 2016-2023 (USD Million)
Table 18 Abrasives Market Size, By Region, 2016-2023 (KT)
Table 19 North America: Abrasives Market Size, By Country, 2016-2023 (USD Million)
Table 20 North America: Abrasives Market Size, By Country, 2016-2023 (KT)
Table 21 North America: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 22 North America: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 23 North America: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 24 North America: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 25 US: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 26 US: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 27 US: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 28 US: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 29 Canada: Abrasives Market Size, By Raw Material, 2016-2023 (USD Million)
Table 30 Canada: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 31 Canada: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 32 Canada: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 33 Mexico: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 34 Mexico: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 35 Mexico: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 36 Mexico: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 37 Europe: Abrasives Market Size, By Country, 2016-2023 (USD Million)
Table 38 Europe: Abrasives Market Size, By Country, 2016-2023 (KT)
Table 39 Europe: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 40 Europe: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 41 Europe: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 42 Europe: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 43 Germany: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 44 Germany: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 45 Germany: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 46 Germany: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 47 UK: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 48 UK: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 49 UK: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 50 UK: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 51 Italy: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 52 Italy: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 53 Italy: Abrasives Market Size, By Type 2016-2023 (USD Million)
Table 54 Italy: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 55 France: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 56 France: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 57 France: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 58 France: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 59 Spain: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 60 Spain: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 61 Spain: Abrasives Market Size, By Type, 2016-2023 (USD Million)
Table 62 Spain: Abrasives Market Size, By Type, 2016-2023 (KT)
Table 63 Rest of Europe: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 64 Rest of Europe: By Market Size, By Material, 2016-2023 (KT)
Table 65 Rest of Europe: By Market Size, By Type, 2016-2023 (USD Million)
Table 66 Rest of Europe: By Market Size, By Type, 2016-2023 (KT)
Table 67 Asia Pacific: Abrasives Market Size, By Country, 2016-2023 (USD Million)
Table 68 Asia Pacific: By Market Size, By Country, 2016-2023 (KT)
Table 69 Asia Pacific: By Market Size, By Material, 2016-2023 (USD Million)
Table 70 Asia Pacific: By Market Size, By Material, 2016-2023 (KT)
Table 71 Asia Pacific: By Market Size, By Type, 2016-2023 (USD Million)
Table 72 Asia Pacific: By Market Size, By Type, 2016-2023 (KT)
Table 73 China: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 74 China: By Market Size, By Material, 2016-2023 (KT)
Table 75 China: By Market Size, By Type, 2016-2023 (USD Million)
Table 76 China: By Market Size, By Type, 2016-2023 (KT)
Table 77 Japan: By Market Size, By Material, 2016-2023 (USD Million)
Table 78 Japan: By Market Size, By Material, 2016-2023 (KT)
Table 79 Japan: By Market Size, By Type, 2016-2023 (USD Million)
Table 80 Japan: By Market Size, By Type, 2016-2023 (KT)
Table 81 India: By Market Size, By Material, 2016-2023 (USD Million)
Table 82 India: By Market Size, By Material, 2016-2023 (KT)
Table 83 India: By Market Size, By Type, 2016-2023 (USD Million)
Table 84 India: By Market Size, By Type, 2016-2023 (KT)
Table 85 South Korea: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 86 South Korea: By Market Size, By Material, 2016-2023 (KT)
Table 87 South Korea: By Market Size, By Type, 2016-2023 (USD Million)
Table 88 South Korea: By Market Size, By Type, 2016-2023 (KT)
Table 89 Rest of Asia Pacific: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 90 Rest of Asia Pacific: By Market Size, By Material, 2016-2023 (KT)
Table 91 Rest of Asia Pacific: By Market Size, By Type, 2016-2023 (USD Million)
Table 92 Rest of Asia Pacific: By Market Size, By Type, 2016-2023 (KT)
Table 93 Middle East & Africa: Abrasives Market Size, By Country, 2016-2023 (USD Million)
Table 94 Middle East & Africa: By Market Size, By Country, 2016-2023 (KT)
Table 95 Middle East & Africa: By Market Size, By Material, 2016-2023 (USD Million)
Table 96 Middle East & Africa: By Market Size, By Material, 2016-2023 (KT)
Table 97 Middle East & Africa: By Market Size, By Type, 2016-2023 (USD Million)
Table 98 Middle East & Africa: By Market Size, By Type, 2016-2023 (KT)
Table 99 South Africa: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 100 South Africa: Abrasives Market Size, By Material, 2016-2023 (KT)
Table 101 South Africa: By Market Size, By Type, 2016-2023 (USD Million)
Table 102 South Africa: By Market Size, By Type, 2016-2023 (KT)
Table 103 Saudi Arabia: By Market Size, By Material, 2016-2023 (USD Million)
Table 104 Saudi Arabia: By Market Size, By Material, 2016-2023 (KT)
Table 105 Saudi Arabia: By Market Size, By Type, 2016-2023 (USD Million)
Table 106 Saudi Arabia: By Market Size, By Type, 2016-2023 (KT)
Table 107 UAE: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 108 UAE: By Market Size, By Material, 2016-2023 (KT)
Table 109 UAE: By Market Size, By Type, 2016-2023 (USD Million)
Table 110 UAE: By Market Size, By Type, 2016-2023 (KT)
Table 111 Morocco: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 112 Morocco: By Market Size, By Material, 2016-2023 (KT)
Table 113 Morocco: By Market Size, By Type, 2016-2023 (USD Million)
Table 114 Morocco: By Market Size, By Type, 2016-2023 (KT)
Table 115 Algeria: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 116 Algeria: By Market Size, By Material, 2016-2023 (KT)
Table 117 Algeria: By Market Size, By Type, 2016-2023 (USD Million)
Table 118 Algeria: By Market Size, By Type, 2016-2023 (KT)
Table 119 Rest of Middle East & Africa: Abrasives Market Size, By Material, 2016-2023 (USD Million)
Table 120 Rest of Middle East & Africa: By Market Size, By Material, 2016-2023 (KT)
Table 121 Rest of Middle East & Africa: By Market Size, By Type, 2016-2023 (USD Million)
Table 122 Rest of Middle East & Africa: By Market Size, By Type, 2016-2023 (KT)
Table 123 South America: Abrasives Market Size, By Country, 2016-2023 (USD Million)
Table 124 South America: By Market Size, By Country, 2016-2023 (KT)
Table 125 South America: By Market Size, By Material, 2016–2023 (USD Million)
Table 126 South America: By Market Size, By Material, 2016–2023 (KT)
Table 127 South America: By Market Size, By Type, 2016–2023 (USD Million)
Table 128 South America: By Market Size, By Type, 2016–2023 (KT)
Table 129 Brazil: Abrasives Market Size, By Material, 2016–2023 (USD Million)
Table 130 Brazil: By Market Size, By Material, 2016–2023 (KT)
Table 131 Brazil: By Market Size, By Type, 2016–2023 (USD Million)
Table 132 Brazil: By Market Size, By Type, 2016–2023 (KT)
Table 133 Argentina: Abrasives Market Size, By Material, 2016–2023 (USD Million)
Table 134 Argentina: By Market Size, By Material, 2016–2023 (KT)
Table 135 Argentina: By Market Size, By Type, 2016–2023 (USD Million)
Table 136 Argentina: By Market Size, By Type, 2016–2023 (KT)
Table 137 Rest of South America: Abrasives Market Size, By Material, 2016–2023 (USD Million)
Table 138 Rest of South America: By Market Size, By Material, 2016–2023 (KT)
Table 139 Rest of South America: By Market Size, By Type, 2016–2023 (USD Million)
Table 140 Rest of South America: By Market Size, By Type, 2016–2023 (KT)
Table 141 Acquisitions, 2008-2017
Table 142 Technological Advancements & New Product Developments, 2014–2017
Table 143 Expansions & Investments, 2008–2017
Table 144 Agreements, Contracts, Collaborations, Joint Ventures and Partnerships, 2014-2017

List of Figures (42 Figures)

Figure 1 Abrasives Market: Segmentation
Figure 2 Global Abrasives Market: Research Design
Figure 3 Breakdown of Primaries
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Global Abrasives Market: Data Triangulation Methodology
Figure 7 Coated Abrasive is Projected to Grow at the Highest CAGR From 2017 to 2023
Figure 8 Automotive is Estimated to Be the Largest End-Use Industry for Abrasives During the Forecast Period
Figure 9 Synthetic Abrasive to Grow at A Higher Rate Than Natural Abrasive Between 2018 to 2023
Figure 10 Asia Pacific is the Key Contributor to the Global Abrasives Market, 2017
Figure 11 Emerging Economies Offer Attractive Opportunities in the Abrasives Market
Figure 12 Coated Abrasive is Estimated to Capture the Largest Share in 2017
Figure 13 India is Projected to Be the Fastest-Growing Country-Level Market for Abrasives
Figure 14 Natural Material is Projected to Account for the Largest Share, During the Forecast Period
Figure 15 Coated Abrasive Segment of Type is Projected to Account for the Largest Share Between 2018 and 2023.
Figure 16 Dishes Accounted for the Largest Share in the Abrasives Market Between 2018 and 2023.
Figure 17 Automotive Industry is Projected to Account for the Largest Share, Between 2018 and 2023.
Figure 18 Growing Application in Metal Fabrication is Ecpected to Drive the Abrasive Market
Figure 19 Silicon Carbide: Projected Volatility From 2010-2016
Figure 20 Abrasive Market :Supply Chain
Figure 21 Porter’s Five Forces Analysis
Figure 22 Natural Abrasives Projected to Be Dominant From 2018 to 2023
Figure 23 Coated Abrasives Projected to Dominate the Market By 2023
Figure 24 Discs Projected to Dominate the Abrasives Market By 2023
Figure 25 Automotive Segment Projected to Dominate the Abrasives Market By 2023
Figure 26 Consumer Electronics Shipments in the US From 2009 to 2016 (USD Billion)
Figure 27 Geographical Snapshot: Abrasives Market Growth Rate, 2018-2023
Figure 28 Europe: Market Snapshot
Figure 29 Key Growth Strategy Adopted By the Companys, 2008-2017
Figure 30 Robert Bosch GmbH: Company Snapshot
Figure 31 Robert Bosch GmbH: SWOT Analysis
Figure 32 3M Company: Company Snapshot
Figure 33 3M: SWOT Analysis
Figure 34 Compagnie De Saint-Gobain S.A.: Company Snapshot
Figure 35 Saint-Gobain Abrasives Inc.: SWOT Analysis
Figure 36 Henkel: Company Snapshot
Figure 37 Henkel: SWOT Analysis
Figure 38 Asahi Diamond Industrial: Company Snapshot
Figure 39 Asahi Diamond Industrial Co., Ltd.: SWOT Analysis
Figure 40 Dowdupont: Company Snapshot
Figure 41 Fujimi Incorporated: Company Snapshot
Figure 42 Carborundum Universal: Company Snapshot

MarketsandMarkets projects that the abrasives market size will grow from USD 42.34 billion in 2018 to reach USD 56.59 billion by 2023, at a CAGR of 5.97%.

The abrasives market has been growing in accordance with the global automotive, metal fabrication, and machinery industries. With rapid urbanization and industrialization, the need for new machinery has increased significantly throughout the world, which has played a huge part in providing the necessary momentum to the global abrasives market after the economic slowdown witnessed between 2007 and 2009. The recovery of the global economy would also boost the demand in this market.

This report has been segmented on the basis of material, type, product type, end-use industry, and region. The aerospace sector is projected to be the fastest-growing segment in the abrasives market during the forecast period. The automotive segment accounted for the largest share in 2017, in terms of both value and volume. Rapid urbanization and increased spending power in emerging economies propel the growth of the automotive industry.

The segmentation based on type consists of coated, bonded, and super abrasive. The coated abrasives segment is projected to grow at a high growth rate between 2018 and 2023. Based on material, the natural segment was the largest in 2017 as it provides benefits such as cost effectiveness, non-toxicity, low material consumption rate, purity, and high productivity rates. These benefits help to manufacture automotive, machinery, electrical, and electronics components with less maintenance, with ease, and of better quality.

Asia Pacific is the most attractive market for abrasives, owing to the rapid growth in industries such as automotive, machinery, and metal fabrication in the region. The growth of this region is supplemented by the increase in consumption and production of industrial products in developing economies such as India and China. A rise in disposable income, especially in developing countries, has led to an exceptional demand for passenger and commercial vehicles. Thus, this augmented demand for automobiles is expected to indirectly drive the growth prospects of the abrasives market in the coming years. Rise in the sales of electronic devices is likely to boost the demand for coated abrasives in the electronics industry during the forecast period, especially in the consumer goods sector.

The stringent regulations and fluctuating prices of raw material are the major restraints for the abrasives market. Acquisitions and new product developments are important strategies adopted by many automotive companies in recent years. In February 2016, Saint-Gobain Abrasives entered into a new partnership with Detroit Speed (US), a manufacturer of high-quality automotive components systems and a builder of vintage custom cars. Through the partnership, Saint-Gobain Abrasives aims to supply Norton brand abrasives to Detroit Speed for its refinishing applications. The company will also display, promote, and sell the Norton brand of products in Detroit Speed booths at all shows and events.

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