LONDON--(BUSINESS WIRE)--The global abrasives market size is expected to grow by USD 9.15 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report
The demand for abrasives from the automotive industry is one of the major factors propelling the market growth. However, factors such as improper storage causing technical issues will hamper the market growth.
In the automotive industry, abrasives are used for sizing engine parts, deburring, and cleaning. They are also used for repairing and maintaining autobody, interiors, and accessories. Furthermore, they are used for smoothening welds, cleaning pipe interiors, and roughen or smoothen surfaces and edges. Coated abrasives are popularly used abrasives in the automotive industry. In the transportation sector, coated abrasives are used in finishing and grinding applications. The increasing motor vehicle production will drive the demand for abrasives, fueling the market growth.
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Global Abrasives Market: End-user Landscape
In the general engineering industry, abrasives are applied to grinding wheels that are used as cutting tools. They are generally used in abrasive jet machining technology or pencil blasting and abrasive microblasting. These technologies do not generate heat and can be used in major applications such as blasting and manufacturing tools. Abrasives are applied to buffs that are multifaceted tools that are used in numerous applications, ranging from cutting to polishing. Buffing is suitable for finishing pots and pans, alloy ware, and flat pans. Meter buffs, wavering buffs, and classic airway buffs are some types of buffs used in such applications. Market growth in this segment will be slower than the growth of the market in the fabrication, automotive, and electronics segment.
Global Abrasives Market: Geographic Landscape
APAC was the largest abrasives market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the thriving automotive, electronics, general engineering and tooling, and construction industries will significantly drive abrasives market growth in this region over the forecast period. 71% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for abrasives in APAC. Market growth in this region will be faster than the growth of the market in regions.
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Companies Covered
- 3M Co.
- Asahi Diamond Industrial Co. Ltd.
- Carborundum Universal Ltd.
- Compagnie de Saint-Gobain SA
- Fujimi Inc.
- Henkel AG & Co. KGaA
- Hermes Schleifmittel GmbH
- Jason Industries Inc.
- Robert Bosch GmbH
-
WEEM Abrasives
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Abrasives Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in abrasives market growth during the next five years
- Estimation of the abrasives market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the abrasives market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of abrasives market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by end-user
- Market segments
- Comparison by end-user
- General engineering and tooling - Market size and forecast 2019-2024
- Fabrication - Market size and forecast 2019-2024
- Automotive - Market size and forecast 2019-2024
- Electronics - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Market Segmentation by Type
- Market segments
- Comparison by Type
- Bonded abrasives - Market size and forecast 2019-2024
- Coated abrasives - Market size and forecast 2019-2024
- Superabrasives - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume Drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 3M Co.
- Asahi Diamond Industrial Co. Ltd.
- Carborundum Universal Ltd.
- Compagnie de Saint-Gobain SA
- Fujimi Inc.
- Henkel AG & Co. KGaA
- Hermes Schleifmittel GmbH
- Jason Industries Inc.
- Robert Bosch GmbH
- WEEM Abrasives
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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