Abrasives Market

[175 Pages Report] The global abrasives market size is projected to grow from USD 46.4 billion in 2020 to USD 58.0 billion by 2025, at a CAGR of 4.5% from 2020 to 2025. The growth of this market is attributed to the growing automotive, metal fabrication, machinery, electronics, electrical, medical, and construction industries have contributed significantly towards the growth of the abrasives market. However, factors such as uncertainty in economic conditions and rising raw material costs inhibit the growth of the market.

In terms of value and volume, the coated segment is projected to lead the abrasives market from 2020 to 2025.

Based on type, the coated segment is projected to account for the higher demand in the abrasives market during the forecast period. Due to the focus on rapid industrialization in emerging economies, and the development of the metal fabrication industry is expected to shift the inclination of both suppliers and consumers towards abrasive. Moreover, increasing demand for coated abrasives in all end-use industries is expected to propel the growth in the abrasives market.

In terms of value and volume, the metal fabrication segment of the end-use industry is projected to grow at the highest CAGR during the forecast period.

The metal fabrication segment is the fastest-growing end-use industry segment in the abrasives market. This growth is attributed to its usage and demand in the metal fabrication for cutting-off and grinding, removing welds and excess material, surface blending, finishing, and polishing.

In terms of both value as well as volume, the Asia Pacific region is expected to account for the largest share in the global abrasives market during the forecast period.

Asia Pacific is the fastest-growing market for abrasives due to its increasing economic growth. 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 the 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.  The rise in the sales of electronic devices is likely to boost the demand for coated abrasives in the electronic industry during the forecast period, especially in the consumer goods sector.

Key Market Players:

At a global level, companies such as Robert Bosch GMBH (Germany), 3M Company (US), Saint-Gobain Abrasives, Inc. (US), and Fujimi Incorporated (Japan) are providing abrasive products. Large construction players such as LafargeHolcim (France), Balfour Beatty PLC (UK), Kier Group PLC (UK), and Carillon PLC (UK) have scope to enter into abrasive services. Other players in the market include Henkel AG & CO. KGAA (Germany), Tyrolit Group (Austria), Asahi Diamond Industrial Co., LTD (Japan), Sak Industries (India), Deerfos Co., Ltd (Korea), and Carborundum Universal Limited (India).

Robert Bosch GmbH (Germany) is one of the leading company in Europe operating in the abrasives market. It is a supplier of technology and services, offering end-to-end engineering and business solutions. The company manufactures and distributes automotive, industrial, consumer goods, and building technologies. It was established as a workshop for precision mechanics and electrical engineering in Stuttgart, Germany. The company’s majority capital share is held by Robert Bosch Stiftung GmbH, a charitable foundation. It has greatly influenced the world’s automobile technology along with its presence in sectors such as energy and building technology, industrial technology, and consumer goods.

The Boschgroup operates through four business segments: mobility solutions, industrial technology, energy, and building technology, and consumer goods. Abrasives fall under the consumer goods segment, which includes the power tools and accessories subdivisions, and provides a comprehensive range of abrasive systems, drill bits, and saw blades. These abrasives are used in various end-use industries such as automotive, electrical, electronics, healthcare, and others. The company’s subsidiary Robert Bosch Power Tools GmbH designs and markets abrasives.

Scope of the report

This research report categorizes the abrasives market based on scrap type, type, equipment, end-use sector, and region.

Abrasives market, by raw material:

• Natural
• Synthetic

Abrasives market, by type:

• Coated abrasives
• Bonded abrasives
• Super abrasives

Abrasives, by end-use industry:

• Aerospace
• Automotive
• Machinery
• Metal fabrication
• Electrical & electronics equipment
• Others (Medical devices, consumer goods, construction, and cleaning & maintainance)

Abrasives market, by region:

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

Recent Developments

• In May 2019, Henkel acquired all shares of Molecule Corp (US). This acquisition strengthens the adhesives technologies business unit’s, technology portfolio in the field of 3D printing & industrial inkjet solutions.
• In May 2018, Bosch extended its new product in the range of abrasives by developing 2 step grinding system for angle grinders that enable higher removal rate and offer finer surfaces. The abrasive product helps in saving time up to 25%. The launch of this product has strengthened the company’s product portfolio.
• In May 2018, Saint-Gobain Group in Thailand launched a brand new abrasive product called “Weber by Norton” at The Architect Fair 2018. The new “Weber by Norton” diamond blade range was the very first new product among many others to come. 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. The launch of this new product was due to the collaboration of the company with the Weber Team in Thailand. 

Key Questions Addressed by the Report

• What are the global trends in the abrasives market? Would the market witness an increase or decline in the demand in the coming years?
• What is the estimated demand for different types of products in abrasives?
• Where will the strategic developments take the industry in the mid to long-term?
• What are the upcoming industry applications and trends for abrasives market?
• Who are the major players in the abrasives market globally?

Frequently Asked Questions (FAQ):

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