Abrasives Market

Bosch (Germany) and Saint-Gobain Abrasives (France) are the Key Players in the Abrasives Market

The abrasives market is expected to witness significant growth in the future with the increasing popularity of their benefits and usage in the automotive, metal fabrication, medical, and electronics industries. The growing application in the metal fabrication industry and the decreasing cost of synthetic diamond are a few key drivers of the abrasives market. Advancements in terms of product innovations and manufacturing processes in the market are also expected to create strong investment opportunities for the global players. The stringent regulations and fluctuating prices of raw materials are expected to be the strongest restraints for the industry. According to MarketsandMarkets, the global market for abrasives, in terms of value, is projected to reach USD 56.59 billion by 2023, at a CAGR of 5.97%.

The key players in the abrasives market include Bosch (Germany), 3M (US), Saint-Gobain Abrasives (France), Henkel (Germany), Asahi Diamond Industrial Co., Ltd. (Japan), DowDuPont (US), Fujimi Incorporated (Japan), Carborundum Universal Ltd (India), KREBS & RIEDEL (Germany), and Deerfos (Korea). These players adopted various strategies to expand their global presence and increase their market share. Acquisitions, new product developments, expansions & investments, and agreements, contracts & partnerships are some of the major strategies adopted by the market players to achieve growth in the abrasives market.

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The new product developments strategy accounted for the largest share of all strategic developments in the abrasives market in 2017. Companies such as Robert Bosch GmbH (Germany), Saint-Gobain (France), KREBS & RIEDEL (Germany), and 3M Company (US) adopted this strategy to strengthen their product & service portfolios and enhance their growth prospects in the abrasives market.

Bosch was one of the prominent players contributing significantly to the growth of the global abrasives market in 2017. The company has maintained its leadership position through its strong distribution network across the European and American markets. Bosch (Germany) is among the leading manufacturers of abrasives for many of the markets it serves. It adopted new product launches as its key strategy to capture the market share. Through this strategy, it aims to gain a competitive advantage in the abrasives market. In November 2016, Bosch extended its new product in the range of abrasives by developing sanding sheet, which is an open net structure that enables dust extraction across the entire surface in comparison to conventional sanding sheets.

Saint-Gobain Abrasives, another key player in the abrasives market, offers a wide range of bonded, coated, non-woven, and super abrasives; it majorly focuses on the expansion of its product portfolio to meet the growing demand for abrasives from its customers. In June 2017, Saint-Gobain Abrasives signed a major contract to supply small specialty abrasive belts to Darex of Ashland (Oregon), which is a manufacturer of custom tool sharpening machines. This strategy enabled the company to strengthen its customer base and develop a strong market position.

Related Reports:

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

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Report Code
MM 4354
Published ON
Jul, 2018
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