Synthetic Abrasives Market is set to garner staggering revenues by 2018 - 2028

Abrasives are hard materials which can withstand any damage when rubbed with any other surface. Abrasives can be segmented into two types: natural and synthetic abrasives. Synthetic abrasives are materials which are synthetically manufactured for the purpose of abrasion. Synthetic abrasives include synthetic diamond, boron nitride (cubic), boron carbide, silicon carbide, alumina and other ceramics. Synthetic abrasives are used in grinding, forming, drilling, shaping, finishing, boring, cutting and other industrial processes. These abrasives can be used in block or powdered form to manufacture various tools. That apart, these abrasives are also used as a coating material during the manufacturing of industrial tools. The choice of abrasive material depends on the application object. The strength of the object decides the selection of the synthetic abrasives. The synthetic abrasive used must be stronger than the object on which it is going to be used. Various developments in material technologies are pushing the demand for synthetic abrasives in different applications.

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Global Synthetic Abrasives Market Dynamics

Market Drivers

Increasing construction activities to cater to the growing demand from the ever-growing population are pushing the demand for synthetic abrasives from the construction industry. New technologies have been developed for the manufacturing of hard and strong synthetic abrasives in recent years. The demand for customized products as per the requirement is further pushing the development of synthetic abrasives. Industrial growth in emerging regions is also accelerating the growth of the concerned market at a good rate. New combinations of materials are being tried and tested by manufacturers for better and effective results. Growing application industries and development of new synthetic abrasives is also expected to push the growth of the market during the forecast period.

Market Restraints

Sufficient availability of natural abrasives will create a setback for the concerned market. That apart, the high cost of synthetic abrasives is another big challenge for abrasives manufacturers.

Abrasives Market Trends

As synthetic abrasives offer better quality and high performance, they are replacing natural abrasives in many applications. New product developments and customized solutions for various applications have been observed in the synthetic abrasives market.

Global Market Segmentation

The global Synthetic abrasives market can be segmented by material type, end use industry and region.

On the basis of material type, the global market can be segmented as:

Synthetic Diamond
Boron Nitride (cubic)
Boron Carbide
Silicon Carbide
Alumina
Other Ceramics
On the basis of applications, the global market can be segmented as:

Grinding
Forming
Drilling
Shaping
Finishing
Boring
Cutting
On the basis of end use industry, the global market can be segmented as:

Automobile Industry
OEM
Metal Fabrication
Electrical & Electronics
Other Industrial
Global Market: Regional Outlook

Increasing opportunities from growing economies, such as China and other Asian countries, are pushing the demand for synthetic abrasives. Increasing demand for automation in various industries is another factor driving the growth of the synthetic abrasives market. The Asia Pacific is expected to account for the largest share in the global market. Growing spending power in the countries including India and China is pushing the demand for synthetic abrasives from end use applications. North America accounts for the second largest share in terms of the demand for the synthetic abrasive, and is also expected to grow with a significant growth. Decreasing industrial production and sluggish market in the Europe, is expected to be the reason for the slow growth in the demand for the synthetic abrasives market in Europe. New developments in Middle East and Africa and Latin America are driving the synthetic abrasives market in the respective regions.

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Global Synthetic Abrasives Market Participants

Some of the market participants identified across the value chain of global synthetic abrasives market are:
DuPont, Solvay, Carborundum Universal Ltd., Saint-Gobain, Henkel, Falcon Abrasive Manufacturing Inc., Dev Group, National Abrasives Ltd, Schaffner Manufacturing Company, Inc., Western Abrasive Industries Private Limited,
LANDS Superabrasives, Co.

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This release was published on openPR.