DUBLIN--(BUSINESS WIRE)--The "Abrasives Market Global Market Report 2022, By Type, By Form, By Application, By End User" report has been added to ResearchAndMarkets.com's offering.
The global abrasives market is expected to grow from $36.65 billion in 2021 to $39.46 billion in 2022 at a compound annual growth rate (CAGR) of 7.68%. The market is expected to reach $56.59 billion in 2026 at a CAGR of 9.43%.
Major players in the abrasives market are Robert Bosch GMBH, 3M Company, Saint-Gobain Abrasives Inc., Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit Group, Asahi Diamond Industrial Co. LTD, Deerfos Co. Ltd, Carborundum Universal Limited, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake Co. Ltd, Sankyo-Rikagaku, Sia Abrasives Industries AG., Jason Incorporated and Schaffner Manufacturing Company Inc.
The abrasives market consists of sales of abrasives by entities (organizations, sole traders, and partnerships) that are used to shape or finish a workpiece by rubbing, resulting in the wear of a portion of the workpiece due to friction.
Grinding wheels, sandpapers, honing stones, polishes, cut off wheels, tumbling and vibratory mass-finishing media, sandblasting, pulp stones, ball mills, and other instruments and items are all examples of abrasives. Industry can only generate the very exact components and ultra-smooth surfaces required in the production of automobiles, aeroplanes, and space vehicles, as well as mechanical and electrical appliances and machine equipment, using abrasives.
The raw materials used in abrasives are natural and synthetic. The natural abrasives use natural raw materials to manufacture abrasives. Diamond, corundum, and emery are natural abrasives that occur in natural deposits and may be mined and processed for use with little modification.
The various types of abrasives are bonded abrasives, coated abrasives, super precision abrasives and super construction abrasives and occur in different forms such as block form and powdered form. The abrasives are used in grinding, cutting, polishing, drilling, finishing and others and the end user are automotive, machinery, aerospace, electrical & electronics, construction and furniture.
Asia Pacific was the largest region in the abrasives market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing electrical vehicle (EV) industry is expected to propel the growth of the abrasives market. An electric vehicle (EV) is one that uses an electric motor and is charged at electric stations rather than an internal-combustion. This upswing is coupled with the compelling need to populate the huge worldwide road network with electric vehicle (EV) charging stations, as the meteoric rise of the electric car shows every indication of lasting far into the future.
As a result, demand for stainless steel (and the abrasives needed to finish it) to provide numerous electric vehicle charging stations is expected to grow for years. In almost all circumstances, stainless steel will need at least one abrasive treatment to finish it before it can be used in any significant fashion in the real world. Every stainless steel weld, for example, necessitates some degree of grinding and polishing.
According to "Power Technology", EV sales have surged, with increases in all three major car markets: China, the United States, and Europe. In the first half of 2021, sales climbed by 160 percent year over year to 2.6 million vehicles, accounting for 26 percent of new vehicle sales worldwide. Therefore a rise in electrical vehicles industry the driving the growth of abrasives.
Strategic collaborations between companies is a key trend gaining popularity in the abrasives market. Companies manufacturing abrasives are undergoing partnerships and collaboration to develop new technologies and products.
Key Topics Covered:
1. Executive Summary
2. Abrasives Market Characteristics
3. Abrasives Market Trends And Strategies
4. Impact Of COVID-19 On Abrasives Market
5. Abrasives Market Size And Growth
5.1. Global Abrasives Market Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Abrasives Market Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Abrasives Market Segmentation
6.1. Global Abrasives Market, Segmentation By Raw Material, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Natural
- Synthetic
6.2. Global Abrasives Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Bonded Abrasives
- Coated Abrasives
- Super Precision Abrasives
- Super Construction Abrasives
6.3. Global Abrasives Market, Segmentation By Form, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Block Form
- Powdered Form
6.4. Global Abrasives Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Grinding
- Cutting
- Polishing
- Drilling
- Finishing
- Others
6.5. Global Abrasives Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Automotive
- Machinery
- Aerospace
- Electrical & Electronics
- Construction
- Furniture
7. Abrasives Market Regional And Country Analysis
7.1. Global Abrasives Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Abrasives Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Companies Mentioned
- Robert Bosch GMBH
- 3M Company
- Saint-Gobain Abrasives Inc.
- Fujimi Incorporated
- Henkel AG & CO. KGAA
- Tyrolit Group
- Asahi Diamond Industrial Co. LTD.
- Deerfos Co. Ltd.
- Carborundum Universal Limited
- Nippon Resibon Corporation
- Krebs & Riedel
- Abrasiflex
- Noritake Co. Ltd.
- Sankyo-Rikagaku
- Sia Abrasives Industries AG
- Jason Incorporated
- Schaffner Manufacturing Company Inc.
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