Surging Utilization Across the Automotive Industry Bolsters the Demand for Abrasives Market

 The automotive industry is the major consumers of abrasives which basically utilizes abrasives across various stages of the manufacturing of automobiles. All the applications of abrasives such as grinding, polishing, oiling, and fitting are used in the manufacturing process of automobiles. The surge in demand for automotive is leading to an increase in the demand for abrasives. Therefore, the global abrasives market is estimated to increase rapidly over forecasted period.

Data Bridge Market Research analyses that the Abrasives Market is expected to grow at a CAGR of 5.3% in the forecast period of 2021 to 2028 and is expected to reach USD 59363.93 million by 2028. The high usage of abrasives for the manufacturing of wafer, chip processing, LED, and other optic electronic devices and parts used in the electronics industry. The major applications very abrasives have been used are wafer edge grinding, micro die cutting, surface grinding, and silicon bricks sizing.

Key Findings of the Study

• The abrasives market is anticipated to reach a value of USD 59363.93 million by 2028, with a CAGR of around 5.3 % during the forecast period from 2021 to 2028.
• North America dominated the abrasives market in 2021 due to the wide availability of different shapes and size of abrasives of synthetic raw materials.
• The natural segment accounted for the largest share in 2021 at 58.33%. The rise in demand of abrasives in aerospace industry is expected to boost the abrasives market growth.
• The abrasives market was adversely affected by COVID-19 outbreak. The lockdown restriction led to the emergence of various challenges such as the manufacturing plants were shut down, resulting in a decrease in glass tile production.
• Asia Pacific is expected to register lucrative growth over the forecast period due to the increased demand for drilling and cutting application with increased efficiency of synthetic raw materials and life creating opportunity for growth.

Rising Awareness and Usage of Natural Abrasives is Expected to Bolster the Market's Growth Rate

Natural abrasives are hard materials that are been extracted from earth with wide applicability in industries such as electronics, building and construction, automotive, oil and gas, among others. With rise in awareness about the types of natural adhesives such as Emery and corundum which mainly occur at the earth crust is been used for sharpening of tools used in many industries requiring less fabrication and processing compared to synthetic abrasives to increase the effectiveness of the abrasives. The increased usage of awareness regarding the natural abrasives will therefore act as a driver for the market.

Report Scope and Market Segmentation

Segment Analysis:

The abrasives market is segmented on the basis of raw materials, type, product, form, application and end- user.

• On the basis of raw materials, the market is segmented into natural and synthetic. Natural is further segmented into diamond, garnet, corundum, quartz and others. The synthetic is expected to dominate the market with 58.33% market share owing to the manufacturing of synthetic abrasives is easy with same property as of natural abrasives. In Asia- Pacific, synthetic are dominating due to with rise in manufacturing units of synthetic abrasives in the region. In Europe, the demand of synthetic has increased because of the growing application in synthetic abrasives in grinding, cutting and among other applications. In Middle East and Africa, the demand of synthetic is growing with easy availability of raw materials used for the manufacturing of synthetic abrasives. In North America, the demand of synthetic is dominating because of the rise in demand of abrasives in aerospace industry.
• On the basis of type, the market is segmented into coated abrasive, bonded abrasive, super abrasive and others. In 2021, coated abrasive is expected to dominate the market with 41.84% market share owing to the rise in production of coated abrasive, growing demand in aerospace industry along with the huge applications of coated abrasive in medical industry.
• On the basis of product, the market is segmented into disc, cups, cylinder and others. The disc is expected to dominate the market with 50.12% market share.

In 2021, Disc is Expected to Dominate the Market with 50.12% Market Share

In 2021, disc is expected to dominate the market with 50.12% market share because disc shape gives large area to products. In Asia-Pacific, disc segment is dominating due to rapid urbanization with requirement of large area abrasives for surface shining. In Europe, the demand of disc segment is dominating with application in medical industry. . In Middle East and Africa, the demand disc segment is dominating with rise in per capita GDP of the region with application in building and construction industry. In North America, disc in is dominating with a rise in awareness about the variety of electronics products that require disc abrasives to shine on the surface.

• On the basis of form, the market is segmented into block form and powdered form. In 2021, block form is expected to dominate the market with 58.91% market share. The large share of this segment can be attributed primarily due to the easy availability of block form that can be converted into any desires shape and sizes, rise in use of block form in different shapes, the block form provides large product range that is economical and effective and also due to the demand of block form is high with more number of uses of block form that can be used in different industry.
• On the basis of application, the market is segmented into grinding, cutting, polishing, drilling, finishing and others. In 2021, polishing is expected to dominate the market with 48.47% market share In 2021, polishing is dominating globally because of demand of polishing is dominating with rise in demand from automobile industry and oil and gas industry and aerospace and defense industry along with the rise in requirement of equipment of polishing in the building and construction industry with urbanization in the region.
• On the basis of end-user, the market is segmented into automotive, machinery, aerospace and defence, metal fabrication, building and construction, medical devices, oil and gas, electrical and electronics and others. The automotive is expected to dominate the market with 23.78% market share.

In 2021, Automotive is Expected to Dominate the Market with 23.78% Market Share

In 2021, automotive is expected to dominate the market with 23.78% market share because of rise in income level and change in living standard of the individuals with availability of range of products. In Asia-Pacific, automotive is dominating as more number of people is now able to purchase automobiles with change in regulation and policies in the automotive industry in the region. In Europe, the demand of automotive is dominating as the region is one of the highest producers or manufacturer of automotive serving many countries across the world. In the Middle East and Africa, the demand for automotive is high with a rise in urbanization in the region. In North America, automotive is dominating because of rise in usage of automotive in the region of Mexico with improvement in supply chain in automotive industry.

Major Players

Data Bridge Market Research recognizes the following companies as the major abrasives market players in abrasives market are Saint-Gobain (France), 3M (U.S.), DuPont (U.S.), VSM AG (Germany), NORITAKE CO.,LIMITED (Japan), NIPPON (Japan), Robert Bosch GmbH (Germany), Fujimi Incorporated (Japan), Henkel AG & Co. KGaA (Germany), SAIT ABRASIVI S.p.A  (Italy) and Radiac Abrasives (U.S.).

Market Development

• In September 2020, RPM International Inc. purchased Ali Industries, Inc., a leading manufacturer of sandpaper and other materials through its Rust-Oleum division. With this acquisition, RPM International hopes to expand its surface preparation capabilities in its Consumer Group sector by adding abrasives to its repair, cleaning, and patch solutions.
• In May 2021, Blue Sea Capital announced an investment in Abrasive Technology (“AT” or the “Company”), a leading provider of superabrasive products for the dental, aerospace, medical and industrial end markets. Based in West Palm Beach, Florida, Blue Sea Capital invests in growth-oriented lower middle market firms with a market capitalization of up to $250 million.
• In January 2020, Washington Mills announced that they attended 44th International Conference and Expo, an event based on the Advanced Ceramics & Composites materials. This will help Washington Mills aware about different Ceramics & Composites materials available and its properties and uses. This will increase the sales and revenue of Washington Mills.
• In December 2020, Norton Saint-Gobain Abrasives introduced its Farécla line of polishing compounds and surface finishing products for OEM automotive assembly, woodworking, marine, composite manufacturing and other industrial applications. Norton Saint-Gobain Abrasives purchased Farécla in 2018 to complement its abrasive products and markets.
• In March 2020, Marco Group International and APE Companies announced their plans to merge to form a leading North American distributor of surface preparation, abrasives, and safety goods in a joint statement. According to the companies, the companies now have 24 sites across the United States and Canada and will be better positioned to provide superior service and expanded product options to their clients.

Regional Analysis

Geographically, the countries covered in the abrasives market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the Dominant Region in Abrasives Market During the Forecast Period 2021 - 2028

In 2021, North America dominated the abrasives market. North America will continue to dominate the abrasives market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the wide availability of different shapes and size of abrasives of synthetic raw materials are expected to further enhance the market's growth rate in this region.

Asia-Pacific is Estimated to be the Fastest Growing Region in Abrasives Market the Forecast Period 2021 - 2028

Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and rapid development of medical facilities in emerging economies in this region. In addition to this, increased demand of drilling and cutting application with increased efficiency of synthetic raw materials and life creating opportunity of growth for the region.

COVID-19 Impact Analysis

The outbreak of COVID-19 largely impacted the chemicals and materials industry. The global abrasives market does not stand back and was also severely damaged by the pandemic. The imposition of various lockdown, social and travel restrictions led to various challenges. The majority of the abrasives manufacturing plants were shut down worldwide, which further led to overall decline in glass tile production. OEMs have also been forced to operate at zero or partial capacity due to supply chain disruptions such as raw material delays or non-arrival, delayed finance flows, and rising absenteeism among production line employees, resulting in lower demand and consumption for Abrasives. Manufacturers began working with a small workforce while adhering to However, with declining COVID-19 cases across the globe, various restrictions will gradually relax and pave the way for market’s growth. Building and construction work began in earnest around the world. The global abrasives market is estimated to recover from a little economic setback and continue to rise in the forecast period.

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