Global Abrasives Market size was Valued at USD 34,615 Million in 2016, and is Projected to Reach USD 53,634 Million by 2023, Growing at a CAGR of 6.5% - Valuates Reports

BANGALORE, India, Dec. 16, 2019 /PRNewswire/ -- -  ABRASIVE MARKET OVERVIEW:

An abrasive is a type of hard metal, which is commonly used across various industries for cleaning, grinding, and polishing hard surfaces. These are classified into natural and synthetic abrasives. The abrasives market covers a wide variety of materials used on large scale in several products in industries, such as automotive, metal fabrication, machinery, electronics, and construction. The general applications of abrasive materials include grinding, tumbling media, cutting wheels, tool sharpening, and metal cleaning. Furthermore, industrial applications of abrasives market are peening, de-flashing, paint stripping, blast cleaning, and deburring.

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ABRASIVE MARKET TRENDS:

Increase in the application areas of abrasives in metal fabrication and automotive industries fuels the market growth. Moreover, rise in production of electronic components in North America and Europe coupled with highest growth in consumption of medical devices in China and India are some key factors fueling the growth of the market. In addition, rise in demand for bonded abrasives among e-commerce industry and soaring applications of abrasives in construction, cleaning, maintenance, power generation, and medical devices are some other aspects bolstering the growth of the global abrasives market. Technological advancements and increase in overall trade & transportation globally are expected to fuel the abrasives market in the emerging countries, such as India, China, and Brazil.

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The global abrasives market is segmented on the basis of type, material, end-user industry, and geography. Based on type, it is classified into bonded, coated, and super. Based on material, it is bifurcated into natural and synthetic. Based on end-user industry, it is categorized into automotive, metal fabrication, machinery, electronics, construction, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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ABRASIVES MARKET BY REGION

North America

• U.S
• Canada
• Mexico

Europe

• Germany
• Spain
• UK
• Italy
• France
• Rest of Europe.

Asia-Pacific

• China
• India
• Japan
• Australia
• Korea
• Rest of Asia-Pacific

LAMEA

• Brazil
• KSA
• South Africa
• Rest of LAMEA.

ABRASIVE MARKET KEY MARKET SEGMENTS

Abrasive Market by Type

• Bonded Abrasives
• Coated Abrasives
• Super Abrasives

Abrasive Market by Material

• Natural
• Synthetic

Abrasive Market by End-User Industry

• Automotive
• Metal Fabrication
• Machinery
• Electronics
• Construction
• Others (Medical Devices, Cleaning, and Maintenance)

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The key market players in the Global Abrasives Market include:

• Robert Bosch GmbH
• 3M Company
• Cosentino S.A.
• Saint–Gobain Abrasives, Inc.
• Henkel AG & Co.
• KGAA
• Asahi Diamond Industrial Co., Ltd.
• Dupont.
• Fujimi Incorporated
• Carborundum Universal Limited.
• Others

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Key Benefits For Stakeholders

• This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist in identifying the prevailing market opportunities.
• Major countries in each region are mapped according to the individual market revenue.
• The region-wise and country-wise abrasives market conditions are comprehensively analyzed.
• This study evaluates the competitive landscape and value chain analysis to understand the competitive environment across geographies.
• An in-depth analysis of each segment of the abrasives market is provided, to assist the prevailing market opportunities.

REPORTS RELATED TO THE SUBSET OF ABRASIVE MARKET:

1.  GLOBAL BONDED ABRASIVE MARKET ANALYSIS:

Global Bonded Abrasive market size will grow from $xx million in 2017 to $xx million in the forecast period by 2025 at xx CAGR.

TRENDS INFLUENCING THE GLOBAL BONDED ABRASIVE MARKET

• Rapidly growing construction activities are increasing the market growth.
• Increasing demand for abrasives from the automotive industry.

REGION WISE GLOBAL BONDED ABRASIVE MARKET ANALYSIS

• Asia Pacific has the largest segment of the market. It is projected that the market for abrasives is steady due to the increase in the construction and manufacturing sectors. The emerging economies in the region acquiring high-end technology for the manufacturing of customer-specific abrasives is also expected to augment the market growth.
• U.S. dominance in North America is projected to see significant market share gains over the forecast period. The North America's precision tooling and advanced machine part production units is expected to stimulate market growth in the years ahead.

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2.  GLOBAL SUPER ABRASIVE MARKET ANALYSIS:

Global Super Abrasive market size is expected to grow from $xx million in 2017 to $xx million by 2025 in the forecast period at xx CAGR.

In the automotive manufacturing processes there have been growing technological developments to achieve better fuel efficiencies and improve the life of motor vehicles. The use of super abrasives in the manufacture of automotive parts has been shown to be useful in increasing the life of wheels as well as attaining higher G-ratios at the same strength.

TRENDS INFLUENCING THE GLOBAL SUPER ABRASIVE MARKET

• Increasing automotive production
• Rising global infrastructure spending
• Accelerating consumer electronics demand
• Growing urbanization
• Growing abrasive used in the medical industry.

REGION WISE GLOBAL SUPER ABRASIVE MARKET

• Asia-Pacific is the fastest growing region due to increased abrasive production and use in various emerging countries, including China, India, and Korea. Growing demand from the automotive industry for abrasives is one of the main driving factors.
• In Europe and North America, the production of precision tooling and sophisticated machine part of manufacturing units drives market growth.

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3.  GLOBAL COATED ABRASIVE MARKET ANALYSIS

Global Coated Abrasive market size will increase by 2025 from xx Million US$ in 2018 to xx Million US$ in the forecast period at a CAGR of xx percent.

TRENDS INFLUENCING THE GLOBAL COATED ABRASIVE MARKET SHARE

• Increasing demand for coated abrasives in welding, foundry, and the automotive industry.

REGION WISE GLOBAL COATED ABRASIVE MARKET ANALYSIS

• Due to growing demand in emerging nations such as India and China and due to expansion in manufacturing, automotive and machinery industries, Asia Pacific is projected to be the largest coated abrasive market.
• Due to declining demand in the US, North America is expected to see sluggish growth over the forecast period.
• Similar to North America, Europe is also expected to show stagnant growth.

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4.  GLOBAL NON-WOVEN ABRASIVES MARKET:

Global Non-woven Abrasives market size will increase to 1980 Million US$ by 2025, from 1320 Million US$ in 2018, at a CAGR of 5.2% during the forecast period.

GLOBAL NON-WOVEN ABRASIVES MARKET TRENDS:

Currently, many companies in the world can produce Non-woven Abrasives product, they mainly concentrating in EU and USA. The main market players are 3M, Saint-Gobain Abrasives etc. In the past five years, the sales volume of Non-woven Abrasives increased to from 389 K MT in 2012 to 490 K MT in 2016, with an average growth rate of 5.92%. In consumption market, the growth rate of global consumption is smooth relatively. China is still the mainly consumption regions and the fastest region due to the developed downstream market and rapid development of economy. Non-woven Abrasives can be classified as six types according to the use method and shape, include Non-Woven Rolls, Non-Woven Discs, Non-Woven Wheels, Non-Woven Belts, Non-Woven Flap Wheels and Hand Pads. It can be widely used in many industries. Survey results showed that 31% of the Non-woven Abrasives market is Machinery industry, 20% is used in Automobile industry. The major raw material for Non-woven Abrasives is resin and Adhesive. In the global market, supply of raw materials is full. Abrasives mainly concentrated in China, EU, USA and Asia.

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5.  ABRASIVE PAPER MARKET:

Global Abrasive Paper market size will increase to 2850 Million US$ by 2025, from 2050 Million US$ in 2018, at a CAGR of 4.2%.

ABRASIVE PAPER MARKET TRENDS:

At present, the global market is dominated by Europe and China. China is the world's largest production area. In 2016, China hold 30.19% of the global share of production. However, China's products prices are relatively low. At the same time, China's products are relatively low-end. High-end products are mainly occupied by manufacturers in Europe and the United States. At present, China is the world's major exporting countries. Southeast Asia and India import Chinese products. Europe is the world's second largest production area.

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6.  ABRASIVE DISC MARKET:

The Abrasive Disc market was valued at 4210 Million US$ in 2018 and is projected to reach 4760 Million US$ by 2025, at a CAGR of 1.6%.

ABRASIVE DISC MARKET TRENDS:

China has played a more and more important role in abrasive disc industry in the past years and it will be an important consumer market with a huge development space in future. As more companies to enter the abrasive disc industry, the market competition will be more intense, this will eliminate some companies to make the market more healthy development.

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