The latest report published by IMARC Group, titled “Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, offers a comprehensive analysis of the industry, which comprises insights on the global abrasives market revenue. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global abrasives market reached a value of US$ 48 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 4.5% during 2021-2026. Abrasives are sharp, mineral-based materials that are majorly used to offer finishing to both hard and soft materials. They are hard crystals that are either found in nature or can be synthetically manufactured. They are widely utilized to clean surfaces and to remove excess material coarsely. Apart from this, they are also employed for shaping in form grinding, sizing in precision grinding, tool sharpening, blast cleaning, separating in slicing operations, roughening in matte finishes and in the manufacturing of intricate components. As a result, they are gaining widespread preference among various end users such as the automobile, electrical and mechanical industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Abrasives Market Trends:
The global market is primarily driven by significant growth in the automotive industry. These materials are widely utilized for the manufacturing of various automotive parts, such as mirrors, air ducts and fuel tanks. Additionally, abrasives are crucial for minimizing carbon dioxide emissions and lowering noise levels in automobiles. Rapid urbanization, increasing global population and inflating per capita income levels have provided a boost to the sales of automobiles across the globe, thereby catalyzing the demand for abrasives. Moreover, the demand for these materials for metal fabrication is also providing a thrust to the market growth. Since they are utilized for surface blending as well as for removing welds, the emergence of automation in metal fabrication is expected to provide a stimulus to the market growth. Furthermore, extensive research and development (R&D) have led to the introduction of the next generation of non-woven abrasives in the market. Also, these materials provide minimal smearing issues, enhanced versatility and faster cut-rate, which is further contributing to their widespread preference across industries.
Key Market Segmentation:
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market with some of the key players being
Robert Bosch GmbH, Dowdupont, Fujimi Incorporated, Compagnie De Saint-Gobain S.A., Henkel, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos, Sankyo-Rikagaku
Also Read Full Blog: Top Abrasives Companies in the World
Market Breakup by Product Type:
- Bonded Abrasives
- Coated Abrasives
Market Breakup by End-Use:
- Metal Fabrication
Market Breakup by Material Type:
- Natural Abrasives
- Synthetic Abrasives
Market Breakup by Region:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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