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The global abrasives market size was USD 37.09 billion in 2018 and is projected to reach USD 59.34 billion by 2026, exhibiting a CAGR of 6.1% during the forecast period.
Abrasives is a material or mineral which is used to shape a workpiece through the process of rubbing. The process is often used for material polishing to gain a smooth and reflective surface. It also involves the roughening of materials in matte, satin, or beaded finishes. Abrasives are used in the form of sandpapers, grinding wheels, polishes, honing stones, tumbling and vibratory mass-finishing media, pulp stones, sandblasting, ball mills, and other tools.
The important physical properties of this material include hardness, friability, toughness, grain shape and size, and degree of purity, as it should have strong bonding affinity and should withstand heat. Natural minerals used for producing abrasives are bauxite, diamond, corundum, diatomite, whereas synthetic ones are made from carborundum, silicon carbide, fused aluminum oxide, and others. Sometimes, ceramics are also used as abrasives for cutting, grinding, and polishing of materials.
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Abrasives are available in various shapes for different functions. Usually, natural forms are commonly used in the form of rectangular blocks. While synthetic and some natural forms are commonly available including belts, blocks, wheels, discs, rods, sheets, and loose grains.
Another distinctive characteristic of AAT is the ability to hold the lubricants, and chemicals together in an even consistency. This in the long run produces a cleaner cutting action while also helping in displacing abraded material from dust build up.
“Rising Demand from Automotive Industry Will Aid the Market Growth”
The automotive industry is expected to drive the global market growth. Abrasives are also used for repairing, engine parts sizing, cleaning of auto body, interior, and exterior. 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, both are used to refinish auto bodies, whereas grinding wheels are used for engine of automobiles. This high demand from various applications within the automobile industry is directly supporting the industry growth.
Additionally, many abrasive products are used for non-engine parts & accessories such as brakes, steering wheels, wheels, and axles. Brakes have a special abrasive with non-directional scratch pattern fitting to collet tool. It is used for eliminating the brake squeal and also reducing discoloration on heat-sensitive metals. Abrasive sandpapers are used for prepping and polishing of the interior and exterior of automobiles. Furthermore, rising raw material price fluctuations, and economic conditions are expected to impact the market significantly.
“Natural Abrasives is Expected to Generate the Highest Revenue during the Forecast Period”
The market is segmented into natural and synthetic on the basis of materials. Amongst these, natural abrasives account for the largest market share owing to extensive use in a wide range of 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 abrasives in the automotive industry is the major factor driving the market demand.
Synthetic abrasives are the product made through the processing of chemical precursors or raw materials. These materials include synthetic diamond, silicon carbide, and alumina. These can be used for various applications due to changeable grain shape, making changes in the purity, and by controlling the crystal structure within the grains. These customizable properties are giving a positive outlook towards the market growth.
“Bonded Abrasives is Expected to Generate the Highest Revenue during the Forecast Period”
The market is segmented into bonded, coated, super, on the basis of product. Bonded type has the largest market share owing to the increased use of products made from these. Bonded type is further segregated into different categories that are cutting & grinding wheels, grinding wheels, hone/sharpening stone, mounted points, cones & plugs, grinding segments, and others. A bonded abrasive is composed through a material kept in a matrix called a binder. The binder, is a very fine aluminum oxide abrasive that comprises of interred material.
Coated ones consist of grains, a backing material, and bonding adhesive. Each of these component gives the product a unique quality making it suitable for various applications. The grain contains aluminum oxide, zirconia alumina, and others, also backing material includes papers or cloth. Utilization of coated abrasives in consumer goods, fabrication, hand and power tools, general engineering, furniture, surgical products such as implants & prosthetics will drive the market growth.
Additionally, super abrasive is attaining high demand due to increasing applications as a precision edging in automotive, construction, and woodworking tools. These products come in the form of grinding wheels or rectification tools that are used to shape too fragile or too hard materials such as glass in the automotive and construction industry, ceramic compounds, and others. A rise in demand from automotive and construction sectors is expected to contribute to an increase in the market size considerably.
“Automotive Segment is Anticipated to Exhibit a Significant CAGR During the Forecast Period”
On the basis of applications, the market is categorized into automotive, electrical and electronics, metal fabrication, machinery, and others. Amongst these applications, automotive industry is expected to remain dominant in terms of market revenue and volume during the forecast period. In automotive applications, abrasives are mainly used as grinding wheels and grinding segment to smoothen or roughen the surface for polishing, fitting or painting. Increasing applications in for cleaning, deburring, and repairing the autoparts will lead to a growth of the market.
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Metal fabrication is used to manufacture metal structures by bending, cutting, and assembling processes. Abrasives are used as cut-off saws, also called as chop saws, having the steel-cutting abrasive disks for cutting of metals into the desired shape. Other products for metal fabrication are fiber discs and flap discs, mainly used for grinding down metals and blending the surfaces.
Abrasives have also witnessed high demand from the machineries and electrical & electronics segments. This demand has been caused due to new unique and attractive types. Abrasives are used for insulation and blending of wiring in the electrical and electronics segment, also rubber bonded ones are used in the manufacturing of semiconductors and electronic applications such as back grinding, CMP pad dressing, IC die cutting, wafer slicing, and other manufacturing operations. In addition, these have application as flexible belts, wide belts, seeded gel, and nonwoven fabric for advanced ceramics and metal matrix composites.
Asia Pacific accounted for the highest market share in terms of revenue and volume in 2018 and may remain the largest during the forecast timeframe due to advancement in technology along with growing construction industry may support the growing need for abrasives in China, Japan, and India. As per abrasives market trends, China is the major consumer due to high demand from the metal fabrication and machinery business, which will boost the market demand.
North America Abrasives Market Size, 2018
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As per the abrasives market report, Europe is the second-largest market and has occupied a major share and is anticipated to witness substantial growth globally. Europe is a hub for automobile production, which in turn increases product consumption. Furthermore, high level of cleaning and maintenance of these automobiles is also a major factor increasing the market in the region.
North America is expected to witness noteworthy growth during the forecast time period. U.S. market is growing owing to the rapid development of precision tooling and machine part manufacturing, along with technological advancement in the region is expected to promote market growth in the forthcoming years.
In Latin America, Mexico, Argentina, and Brazil are the major countries that will support market growth. This growth in the region can be attributed with the increasing automotive, aerospace, construction, and furniture industries. The growing demand for super abrasives for the above applications are advancing the industry growth.
The Middle East & Africa market, driven by Saudi Arabia and South Africa is expected to observe a substantial growth during the forecast timeframe. Rising woodworking, solid surface grinding and polishing, metal fabrication for construction industry in the region indicates the increasing demand that will lead to the overall market growth.
“Key Market Players Are Expected to Strengthen the Market Position by Offering Abrasives to the Automotive Industry”
The major producers of abrasives are present in Europe. Some of the key market players are 3M, Saint-Gobain, Krebs & Riedel, DuPont, and Robert Bosch GmbH. Krebs & Riedel is a German manufacturing company of grinding wheels. The company offers various product range including cutting discs, conventional grinding wheels, cup wheels, and super abrasives such as diamond and CBN wheels in vitrified bonds. On the other hand, Saint-Gobain manufacture products, offering a complete portfolio of high-performance, precise and comfortable solutions for polishing, shaping and cutting all types of materials. The company is present in 68 countries with more than 180,000 employees. Similarly, other key players in the market have developed strong regional presence, distribution channels, and product offerings. Companies are forming strategies to expand their business and enhancing product portfolio to create opportunities in the value chain.
A growing trend is observed in the penetration of the market across various applications such as automotive, electrical & electronics, metal fabrication, machinery, and others.
The report provides qualitative and quantitative insights on the abrasive market and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented by material, product, application, and geography. Based on the material, the market is classified into natural and synthetic. By product, bonded, coated, and super. By application, the market is divided into automotive, electrical & electronics, metal fabrication, machinery, and others. Geographically, the global market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions are further categorized into countries.
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Along with this, the report provides an elaborative analysis of the global market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global market, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape, and company profiles.
Value (USD Million) and Volume (KT)
Fortune Business Insights says that the market was valued at USD 37.09 Bn in 2018 and is projected to reach USD 59.34 Bn by 2026.
Growing at a CAGR of 6.1%, the market will exhibit steady growth in the forecast period (2019-2026)
The bonded abrasives segment is expected to be leading for abrasives market value and volume during the forecast period.
Growing automotive industry will drive the growth of the abrasives market.
Asia Pacific is expected to hold the highest market share in terms of revenue of the abrasives market.
3M, Saint-Gobain, Krebs & Riedel, DuPont, and Robert Bosch GmbH are the key players in the market and have adopted strategies such as acquisition for their growth in the abrasives market.
Rising demand from automotive industry for autoparts application is an important abrasives market trend.
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