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The global abrasives market size was valued at USD 41.05 billion in 2021 and is projected to grow from USD 43.43 billion in 2022 to USD 64.81 billion by 2029, exhibiting a CAGR of 5.9% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with abrasives experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 2.9% in 2020 as compared to 2019.
Abrasives are materials used to grind away wood, concrete, ceramic, stone, or mineral. These materials provide an elegant, sleek, and finished look. The process is often used for material polishing to gain a smooth and reflective surface. These products are used in roughening materials in matte, satin, or beaded finishes. The use of these materials in sandpapers, grinding wheels, polishes, honing stones, tumbling and vibratory mass-finishing media, pulp stones, sandblasting, ball mills, and other tools support the market growth. The construction industry is observing tremendous and unparalleled changes backed by economic growth, which, in turn, is increasing product demand.
The increasing demand for the product for grinding and polishing applications in end-use industries, such as metal fabrication, automotive, Electrical Equipment (E&E) and machinery, and electronics, is expected to boost the market. In manufacturing automotive components, the product is vital in modifying operating parameters such as lowering noise levels and reducing high-performance engine carbon dioxide emissions and component machining.
Momentary Halt in Manufacturing and Trade Activities during COVID-19 Outbreak Affected Market Growth
The pandemic impact was witnessed across all the sectors such as machinery, metal fabrication, and automotive. Disruption over the exports from large-scale Chinese manufacturing has created interruptions across. Moreover, in the U.S., the lockdown has resulted in plant closings, further adding to extreme pressure on the international supply base where businesses and customers are at risk. The pandemic has created a global shift in the supply chain, thus affecting metal fabrication, machinery, automotive, and other industries. This, in turn, is disrupting and leading to a downshift in product demand.
Abrasives, such as aluminum oxide, silicon carbide, boron nitride, and others, are often found in nature by the extraction process below the ground. The global shutdown has influenced mining activities and further affected product demand. Strict government regulation for raw material production and the shutdown of the manufacturing sector also constrain market growth.
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Growing Application of Abrasives for Construction Activities to Create Growth Opportunities
Construction is projected to be the key product application during the forecast period. The rise in construction activities has increased due to rapid increase in urbanization and improving lifestyles. Economic growth in developing countries, along with high renovation activities, is further supporting market development. These products are used in the construction industry in several applications such as woodworking & fabrication, metal fabrications, and metal components. Growing nations, such as China, India, Japan, and other Asian nations, are the major countries witnessing growth in the construction industry. The rising population in these countries has been positively affecting product consumption due to the expansion of residential construction. Moreover, the major shift of industrialization of the western region into smaller nations is directly supporting the growth rate in the construction industry, which, in turn, is leading to the abrasives industry growth.
Increasing Demand from the Automotive Industry to Aid Market Growth
The product is used for repairing engine parts sizing, auto body, and interior & exterior cleaning. These products are also used to clean the insides of pipes, smooth welds, smooth edges, and surfaces for oiling, fitting, polishing, or painting. Coated and non-woven products are used to refinish auto bodies, whereas grinding wheels are used for automobiles. This high demand from various applications within the automobile industry is directly supporting the industry's growth.
Several abrasive products are used for non-engine parts & accessories such as brakes, steering wheels, wheels, and axles. Brakes have a special abrasive with a non-directional scratch pattern fitting to collect tools. It is used to eliminate the brake squeal and reduce discoloration on heat-sensitive metals. Abrasive sandpapers are used for prepping and polishing the interior and exterior of automobiles. Furthermore, the rising raw material price fluctuations and economic conditions are expected to impact this market significantly.
Lack of Raw Material Availability and Stringent Regulations to Hamper Market
The most common abrasive raw materials are aluminum oxide, silicon carbide, cubic boron nitride, synthetic diamond, and ceramics. These raw materials are obtained from renewable resources such as petroleum. Depleting these resources results in lowering raw material availability, thus restricting the market growth. Moreover, rising concerns over environmental protection and preventing the spread of pollution have resulted in governments taking action and putting stringent regulations on the use of this product, thus hindering market growth.
Synthetic Segment to Hold a Significant Share due to Superior Properties
Based on material, the market is segmented into natural and synthetic.
A synthetic abrasive is a product that processes chemical precursors or raw materials. These materials include synthetic diamond, silicon carbide, and alumina. They have various applications as the shape of abrasive grains can be changed as per need, changes can be done in purity, and controlling the crystal structure within the grains. These customizable properties are giving a positive outlook on the segment’s growth.
Due to the growing consumer shift toward organic products, natural abrasives are extensively used in a wide range for domestic, industrial, and technological applications. These include corundum, diamond, and emery, as they occur naturally, which can be mined and processed for use with less variation. The increasing use of this product type in the automotive industry is one of the key factors driving the market growth.
Coated Segment is Expected to Generate Highest Revenue owing to their Widespread Application
Based on product type, the market is segmented into bonded, coated, and super.
The coated segment held the major abrasives market share in 2021. The coated segment consists of grains, a backing material, and bonding adhesive. Each of these components gives the product a unique quality making it suitable for various applications. Using coated abrasives in consumer goods, fabrication, hand and power tools, general engineering, furniture, and surgical products will drive segmental growth.
A bonded abrasive is composed of a material kept in a matrix called a binder. The binder is a very fine aluminum oxide abrasive that comprises interred material and is used for sanding and polishing metal products. Rising applications for bonded abrasives from automotive and electrical & electronics industries support the market growth.
The demand for super abrasives is surging in applications such as precision edging in automotive, construction, and woodworking tools. These products come in the form of grinding wheels or rectification tools used to shape too fragile or too hard materials, such as glass, in the automotive and construction industry, ceramic compounds, and others.
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Metal Fabrication Segment is Anticipated to Exhibit a Significant CAGR due to Rising Demand for Metal Equipment
Based on application, the market is categorized into automotive, electrical & electronics, metal fabrication, machinery, and others.
The metal fabrication segment is expected to expand at a rapid pace during the forecast period. This type of fabrication is used to manufacture metal structures by bending, cutting, and assembling processes. This product is used as cut-off saws, also called chop saws, having the steel-cutting abrasive disks to cut metals into the desired shape. Other metal fabrication products are fiber discs and flap discs, mainly used for grinding down metals and blending the surfaces.
In automotive applications, the product is mainly used as grinding wheels and grinding segments to smoothen or roughen the surface for polishing, fitting, or painting. The increasing applications for cleaning, deburring, and repairing auto parts will lead to segmental growth.
The product has experienced high demand from the machinery and electrical & electronics segments. This is due to the availability of new and attractive types of materials used for insulation and blending of wiring in the electrical and electronics segment. Also, rubber bonded ones are used to manufacture semiconductors and electronic applications such as back grinding, CMP pad dressing, IC die-cutting, wafer slicing, and other manufacturing operations. These have applications as flexible belts, wide belts, seeded gel, and nonwoven fabric for advanced ceramics and metal matrix composites.
Asia Pacific Abrasives Market Size, 2021 (USD Billion)
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The market size in Asia Pacific stood at USD 22.89 billion in 2021. Asia Pacific is expected to hold the highest position in the global market during the forecast period. This is due to advancements in technology, along with the growing construction industry, that will support the product’s demand in China, Japan, and India. China is the major consumer due to high metal fabrication and machinery demand.
Europe is a hub for automobile production, which, in turn, increases product consumption. Furthermore, a high level of cleaning and maintenance services of these automobiles is a major factor that will boost the growth of the market in the region.
North America is expected to experience exponential growth during the forecast period. Rapid-paced development in precision tooling and machine part manufacturing, along with technological advancement in the U.S., is expected to contribute to the growth of the market in the region.
In Latin America, Mexico, Argentina, and Brazil are the major countries that will support market growth. This growth in the region can be attributed to increasing automotive, aerospace, construction, and furniture industries.
The market in the Middle East & Africa is expected to showcase substantial growth during the forecast period. The rising woodworking, solid surface grinding and polishing, and metal fabrication for the construction industry in the region will favor the market growth in the forthcoming years.
Extensive Product Portfolio of Major Companies to Strengthen their Positions
The major producers in the market include 3M, Saint-Gobain, Krebs & Riedel, DuPont, and Robert Bosch GmbH. Krebs & Riedel is a German manufacturing company of grinding wheels. The company offers a varied product range, including cutting discs, conventional grinding wheels, and cup wheels such as diamond and CBN wheels in vitrified bonds. On the other hand, Saint-Gobain offers a complete portfolio of high-performance, precise and comfortable solutions for polishing, shaping, and cutting all types of materials.
Other key players in the market have also developed a robust regional presence, varied product offerings, and distribution channels. Companies are forming strategies to expand their business and enhance their product portfolio to create value chains.
An Infographic Representation of Abrasives Market
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The global abrasives market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, applications, and types. Also, the report offers insights into key market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market in recent years.
Value (USD Billion)
By Material, Product Type, Application, and Region
By Product Type
Fortune Business Insights says that the global market size was USD 41.05 billion in 2021 and is projected to reach USD 64.81 billion by 2029.
In 2021, the market value stood at USD 41.05 billion.
Growing at a CAGR of 5.9%, the market will exhibit steady growth during the forecast period (2022-2029).
Based on material, the natural segment is expected to be the leading segment.
The increasing demand from the automotive industry is expected to drive market growth.
Robert Bosch GMBH, 3M Company, Saint-Gobain, and Fujimi Incorporated are a few global market players.
Asia Pacific dominated the global market in 2021.
High demand from the automotive industry for auto parts applications is an important market trend.
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