Abrasives Market is Set for Strong Growth and Reach Around US$ 59.7 Billion by 2020-25

4:01 pm 27 May 2020

According to the latest report by IMARC Group, titled “Abrasives Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global abrasives market size reached US$ 43.5 Billion in 2019. Abrasives are sharp, mineral-based materials that are majorly used to offer finishing to both hard and soft materials. They are hard crystals that are either found in nature or can be synthetically manufactured. They are widely utilized to clean surfaces and to remove excess material coarsely. Apart from this, they are also employed for shaping in form grinding, sizing in precision grinding, tool sharpening, blast cleaning, separating in slicing operations, roughening in matte finishes and in the manufacturing of intricate components. As a result, they are gaining widespread preference among various end users such as the automobile, electrical and mechanical industries.

 

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Global Abrasives Market Trends:

The global market is primarily driven by significant growth in the automotive industry. These materials are widely utilized for the manufacturing of various automotive parts, such as mirrors, air ducts and fuel tanks. Additionally, abrasives are crucial for minimizing carbon dioxide emissions and lowering noise levels in automobiles. Rapid urbanization, increasing global population and inflating per capita income levels have provided a boost to the sales of automobiles across the globe, thereby catalyzing the demand for abrasives. Moreover, the demand for these materials for metal fabrication is also providing a thrust to the market growth. Since they are utilized for surface blending as well as for removing welds, the emergence of automation in metal fabrication is expected to provide a stimulus to the market growth. Furthermore, extensive research and development (R&D) have led to the introduction of the next generation of non-woven abrasives in the market. Also, these materials provide minimal smearing issues, enhanced versatility and faster cut-rate, which is further contributing to their widespread preference across industries. On account of the aforementioned factors, the market is expected to reach a value of US$ 59.7 Billion by 2025, expanding at a CAGR of 5.4% during 2020-2025.

 

Market Breakup by Product Type:

  • Bonded Abrasives
  • Coated Abrasives
  • Super-abrasives
  • Others

 

Market Breakup by Material Type:

  • Natural Abrasives
  • Synthetic Abrasives

 

Market Breakup by End-Use:

  • Machinery
  • Metal Fabrication
  • Automotive
  • Electronics
  • Construction
  • Others

 

Market Summary:

On the geographical front, the market has been segregated into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. The competitive landscape of the market has been studied, with the detailed profiles of the key profile operating in the market.

  • Robert Bosch Power Tools GmbH
  • DuPont de Nemours Inc.
  • Fujimi Inc.
  • Saint-Gobain Group
  • Henkel AG & Co. KGaA
  • 3M
  • Asahi Diamond Industrial Co. Ltd.
  • Carborundum Universal Limited.
  • TYROLIT Schleifmittelwerke Swarovski KG
  • NIPPON RESIBON CORPORATION
  • Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG
  • Abrasiflex Pty Ltd.
  • Noritake Co. Limited
  • COM
  • Sankyo-Rikagaku Ltd.

 

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

 

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

 

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

 

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