Top Pioneers Leading the Charge for Abrasives Market, Projected to Reach $53,634 Million by 2023

Global Abrasives Market was valued at $34,615 million in 2016, and is expected to reach $53,634 million by 2023, registering a CAGR of 6.5% from 2017 to 2023. Abrasives are hard materials, which are used in a wide range of industrial, domestic, and technological applications to shape or finish a workpiece. Abrasives are classified into natural abrasives including corundum, garnet, emery, and pumice and synthetic abrasives including silicon carbide, synthetic diamond, and alumina among others. Moreover, abrasives can be either bonded or coated. Bonded abrasives are attached to a matrix, which is also known as a binder. They are made of often rubber, clay, resin or glass, whereas coated abrasives are fixed to a backing material such as paper, cloth, resin, polyester or metal.

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Abrasives are materials, which are used to mold or finish other rough materials through extensive rubbing. Abrasives work by scraping the outer layers or surfaces for removal of unwanted substances or roughness. Abrasives are used in many end use industries such as metal working, wood working, cleaning, and deburring.

Increase in demand from automobile manufacturers, medical device manufacturers, and electronic equipment manufacturers drives the global abrasives market. Moreover, rise in consumption of abrasives in cleaning applications and surface treatment, such as grinding, dimensioning, blending, finishing, sharping, and polishing, are some other key aspects that drive the growth of the global abrasives market. However, strict government regulations on the extraction of natural abrasives and fluctuations in raw material prices hinder the market growth.

Abrasives are expected to witness the highest growth rate in automotive industry, owing to increase in demand for passenger and commercial vehicles especially in the developing economies across the globe. Furthermore, rapid urbanization and upsurge in demand for efficient abrasive materials for cutting and grinding precious metals are expected to boost the market growth.

The automotive segment accounted for around half of the global market, in terms of volume, in 2016. The demand of abrasives has increased due to response to the perennial modifications in the automotive industry. Thus, increase in requirement of high-tech synthetic abrasives and rise in adoption of new abrasive materials especially in automotive industry fuel the demand for abrasives across the globe.

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In 2016, Asia-Pacific and LAMEA collectively accounted for nearly half of the global market, in terms of volume, and are expected to continue this trend during the forecast period, owing to increase in urbanization, especially in China, India, Brazil, and other developing countries. Moreover, rapid urbanization, increase in per capita income, and growth in overall consumer expenditure drive the growth of the Asia-Pacific market.

The major companies profiled in the report include

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

Table Of Content


Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. KEY FINDINGS OF THE STUDY
2.2. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets, by end-use industry

3.3. MARKET PLAYER POSITIONING, 2016
3.4. PORTER’S FIVE FORCES ANALYSIS

3.4.1. Bargaining power of suppliers
3.4.2. Bargaining power of buyers
3.4.3. Threat of new entrants
3.4.4. Threat of substitutes
3.4.5. Competitive rivalry

3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Increase in demand for automobiles
3.5.1.2. Rise in demand in vehicle and bicycle brakes
3.5.1.3. High demand from electronics industry

3.5.2. Restraint

3.5.2.1. Restrictions on the use of silica-based abrasives

3.5.3. Opportunity

3.5.3.1. Rise in demand in medical and biotechnology sector

3.6. MARKET SHARE ANALYSIS (%)

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