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Abrasives Market to Rise at a CAGR of 6.1% by 2026; Acquisition of Buffalo Abrasives Inc by Sak Abrasives Inc. to Boost Market Revenue

February 14, 2020 | Chemicals & Materials

The global abrasives market size is expected to reach USD 59.34 billion by 2026. The increasing usage of abrasives in grinding wheels, polishes, honing stones, tumbling and vibratory mass-finishing media, pulp stones, sandblasting, ball mills, and other tools will be a crucial factor in boosting the abrasives market share in the foreseeable future, mentioned in a report, titled “Abrasives Market Size, Share & Industry Analysis, By Materials (Natural and Synthetic), By Product (Bonded, Coated, and Super Abrasive), By Application (Automotive, Electrical & Electronics, Metal Fabrication, Machinery, and Others), and Regional Forecast, 2019-2026” the market size stood at USD 37.09 billion in 2018 and is predicted to register a CAGR of 6.1% between 2019 to 2026.


Acquisition of Buffalo Abrasives Inc by Sak Abrasives Inc. to Profit Trade Scenarios


Sak Abrasives Inc., a world-class producer of bonded, coated, and super abrasive products, announced the acquisition of Buffalo Abrasives Inc., a subsidiary of Sak Abrasives and provider of grinding wheels, including resin, rubber, shellac, epoxy & vitrified wheels.  The acquisition of the Sak Abrasives Inc. will have a positive impact on the abrasives market trends owing to the company’s distribution spread across the entire continental U.S. The company also has positive goodwill across several industries such as automotive, oil and gas, aerospace, steel and bearing.


Furthermore, the Co-founder and CEO of Buffalo Abrasives Inc., Jeff Binkley, said in a statement, "We are very excited to be partnering with such an innovative and talented company. Sak Abrasives offers additional capabilities, products and expertise to Buffalo Abrasives. It is gratifying that we can continue to have a significant manufacturing presence in North Tonawanda, where it all began." In addition, the growing partnerships and collaboration between leading companies in the market will augur well for the demand for abrasives.


To get a detailed report summary and research scope of this market, click here


https://www.fortunebusinessinsights.com/abrasives-market-102177


High Requirement for Natural Abrasives to Promote Market Expansion


As per our lead analysts at Fortune Business Insights, “natural abrasives is expected to account for the largest market share in the market owing to its extensive use in a wide range of domestic, industrial, and technological applications. Furthermore, the growing application of abrasives in non-engine parts & accessories such as brakes, steering wheels, wheels, and axles will stimulate the abrasives market growth. As brakes have a special abrasive with non-directional scratch pattern fitting to collet tool, hence it is used for eliminating the brake squeal and also reducing discoloration on heat-sensitive metals. In addition, the rising emphasis on car maintenance will also fuel demand for abrasives. Abrasive sandpapers are used for prepping and polishing of the interior and exterior of automobiles. Moreover, rising governmental regulations, raw material price fluctuations, and economic conditions will bode well for the market in the forthcoming years.


Escalating Innovation to Spur Competition Among Major Players


The focus of companies towards offering a wide range of products to customers will be a vital factor in spurring completion among key players, including cutting discs, conventional grinding wheels, cup wheels, and super abrasives such as diamond and CBN wheels in vitrified bonds. Whereas, Saint-Gobain Abrasives manufactures abrasives, offering a complete portfolio of high-performance, precise and comfortable abrasive solutions for polishing, shaping and cutting all types of materials. The company is present in 68 countries, with more than 180,000 employees. The strong existential portfolio of the Saint-Gobain Abrasives will boost the abrasives industry growth. Likewise, many companies are trying to develop strong regional presence distribution channels and product offerings to give tough competition to established companies. The marketing strategies for business expansion and product portfolio enhancement will augment the abrasives market revenue.


Some of the Prominent Companies in the Abrasives Market Include:



  • The 3M Company

  • Saint-Gobain

  • Krebs & Riedel

  • Asahi Diamond Industrial Co., LTD

  • Robert Bosch GmbH

  • Fujimi Incorporated

  • Henkel AG & Co. KGaA

  • Carborundum Universal Limited

  • Deerfos Co., Ltd


Further Report Findings:



  • Regional Insight: North America generated a revenue of USD 9232.8 Million and is likely to grow significantly during the forecast period owing to the increasing technological advancement and rapid development of precision tooling and machine part manufacturing.

  • Leading Segment: The electrical & electronics application accounted for 16.73% share in 2018 and is expected to witness high growth during the forecast period owing to the use of  abrasives in the manufacturing operations


The Abrasives Market is Classified on the Basis of:











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Million/Billion) and Volume (KT)



Segmentation



By Material



  • Natural Abrasives

  • Synthetic Abrasives



By Product



  • Bonded Abrasives

  • Coated Abrasives

  • Super Abrasives



By Application



  • Automotive

  • Electrical & Electronics

  • Metal Fabrication

  • Machinery

  • Others



By Geography



  • North America (U.S., and Canada)

  • Europe (Germany, UK, France, Italy, Russia, and Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)

  • Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa)



 

Abrasives Market
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  • 2015-2017
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