Global Abrasives Market to grow with 5.91% CAGR through 2026

May 11, 2020

As per the report titled ‘Global Abrasives Market Size study, by Material (Natural Abrasives, Synthetic Abrasives), by Type (Coated Abrasives, Bonded Abrasives, Super Abrasives), by Product Type(Disc, Cups, Cylinder), by End-Use Industry (Automotive, Machinery, Metal Fabrication, Electrical & Electronics, Equipment, Others) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global abrasives market was valued at USD 44.98 billion in 2018 and is projected to expand at 5.91% CAGR during 2019-2026.

Abrasives are extensively used in metal fabrication industries for a wide range of applications such as honing, pressure blasting, polishing, grinding and lapping, in turn fueling the growth of global abrasives market. Products utilizing abrasive materials include cut-off wheels, pulp tones, sand blasting, ball mills, grinding wheels, sandpapers, and others.

Massive production of electronic components and rapidly growing automotive industry are further enhancing the market outlook. In addition, declining cost of synthetic diamond and rapid urbanization in emerging economies are likely to bolster the product demand. However, volatile costs of raw materials and stringent government regulations regarding the manufacturing of abrasives will impede the market growth during the forecast period.

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Based on the material spectrum, the market is bifurcated into natural abrasives and synthetic abrasives. Elaborating on the type, abrasives market is divided into bonded abrasives, coated abrasives, and super abrasives. While the product terrain includes disc, cups, and cylinder. Speaking of the end-user landscape, the industry is divided into metal fabrication, machinery, automotive, electrical & electronics, equipment, and others.

Considering the regional outlook, Asia Pacific abrasives market is predicted to witness tremendous growth in the coming years, owing to rapid growth of machinery, automotive and metal fabrication industries. Increased production and consumption of industrial products in developing nations like India and China, along with rising disposable income are among other factors supporting the regional market growth.

Prominent players in global abrasives market are Robert Bosch GmbH, Compagnie De Saint-Gobain S.A., 3M Company, Henkel AG & Corporation, DowDuPont, Asahi Diamond Industrial, Fujimi Incorporated, Krebs & Riedel Schleifscheibenfabrik, Carborundum Universal, and Deerfos Corporation.

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