Abrasives Market Size, Share & Trends Report

Abrasives Market Size, Share & Trends Analysis Report, By Type (Bonded, Coated, Superabrasive), By Material (Natural, Synthetic), By End-use (Automotive, Metal Fabrication, Machinery), And Segment Forecasts, 2018 - 2025

  • Published Date: Mar, 2018
  • Base Year for Estimate: 2016
  • Report ID: GVR-2-68038-099-6
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 110

Industry Outlook

The global abrasives market size was valued at USD 35.30 billion in 2016. Abrasives are used in automotive, construction, electronics, and manufacturing industries to provide a superior polished surface finish during manufacturing. Besides this, they are used to shape materials through grinding, remove surface layers of paint or corrosion, cut hard materials made of steel or concrete, and polish finished products.

U.S. abrasives market

Rapid expansion of the automotive production is one of the key trends stoking market growth. Various prominent players in the automotive industry are employing strategies such as new product development and acquisitions. Consolidation in the automotive industry is providing market leaders to cater to the demand from major automobile companies. Rising urbanization and industrialization is further supporting the growth of the market. Moreover, demand for manufactured industrial products with high precision finish in the end use industries is the likely to trigger the sales of abrasives.

Due to rising environmental concerns, leading automobile manufacturers are manufacturing low-weight automobiles, which are economical, emit low carbon dioxide, and yet provide superior performance. Such automobiles require automobile engine components and assemblies to be of high quality. Leading abrasive manufacturers look to capitalize on this trend by engaging into long term contracts and by offering products that provide high quality auto components with polished surface finish.

Robust growth of the construction sector worldwide is expected to drive the market. The U.S., China, and India will be at the forefront of the market as these regions are anticipated to account for over 57.0% of the global construction volume by 2030. According to the Global Construction Perspectives and Oxford Economics, global construction output will increase by 85% from 2015, reaching $15 trillion, by 2030. Synthetic products barring garnets and synthetic diamonds primarily drive the demand for abrasives, as synthetic types have more uniformity in quality and properties such as high cutting speeds that are desirable in the end-use industries.

The level of industrial production in the aviation and automotive sectors directly influences the demand for the products. Policies of the automotive and manufacturing sectors will have an indirect influence on the demand. Turbulence in the growth track of end-use industries such as construction can act as a roadblock for the growth of the market.

Type Insights

Bonded abrasives commanded the leading share of the market in 2016. The segment will continue to dominate the market until 2025. Resinoid, shellac, rubber, ceramic, oxychloride of magnesium, and silicate of soda type of bonds are used for bonding of various grains to produce bonded abrasive products. Ceramic or vitrified type of bonding is the most prominent method employed for their production while shellac-bonded type represents a small percentage of the bonded abrasives market.

Global abrasives market

Coated abrasives are estimated to grow significantly over the forecast period, exhibiting a CAGR of 6.6% in terms of revenue during the forecast period. They are made using aluminum oxide and silicon carbide minerals. Superabrasives segment accounted for 21.44% of the global abrasives market. Increasing need for hard materials for high quality surface finish, continuous innovations, and increasing preference for CNC machines are the factors accelerating the demand for superabrasives.

Material Insights

Demand for synthetic abrasives is likely to remain higher than for their counterpart throughout the forecast horizon. They have superior physical properties, high efficiency, and durability. Globally, their demand is expected to witness an exponential rise in the coming years.

The growth of the natural abrasives segment is restricted due to high production cost and lack of availability. Silicon carbide, used in synthetic abrasives, may act as a substitute to emery, which is a natural abrasive. The trend is projected to continue over the forecast period.

The synthetic corundum, an artificially manufactured abrasive, which provides better gain size and has fewer impurities as compared to its natural counterpart, is now increasingly replacing corundum, which is a natural abrasive.

End Use Insights

Demand for abrasives was highest in the automotive industry in 2016, representing approximately 39.0% of the market volume. They are used for coarse sanding, lacquer sanding, repair sanding, and polishing in the industry. A wide variety of sandpapers with grit numbers ranging from 24 to 2000 and above are presently in use within the automotive industry.

Sol-gel abrasives are also one of the advanced types used in the automotive industry for applications requiring hard abrasives for dressing, grinding, and deburring applications. Saint-Gobain S.A. and The 3M Company are some of the key manufacturers of sol-gel abrasives. Superabrasives in the form of diamond discs are preferred for grinding and polishing in the industry to optimize the polishing time as well as to improve the surface finish with shiny gloss. Because of numerous applications, the automotive sector is projected to be the dominant end-use segment throughout the forecast period.

Regional Insights

The Asia Pacific region is estimated to maintain its dominance in the market throughout the forecast period in terms of revenue as well as volume, followed by Europe and North America. Spiraling consumption of electronic & electrical components due to growth in urban population and expansion in end-use segments are poised to augment the regional market over the forecast period. Surging demand for high-quality electronics due to rapid industrialization and digitization is also contributing to the growth of the region. In North America, the U.S. is at the forefront of the growth of the region.

Abrasives Market Share Insights

Large companies such as The 3M Company; Robert Bosch Gmbh; and Saint-Gobain Abrasives, Inc. enjoy economies of scale in purchasing. On the other hand, small scale manufacturers compete effectively by acquiring technological know-how of specific manufacturing functions. The U.S. industry is highly concentrated, with the top 50 major manufacturers, contributing about 90% of the total market revenue. Factors such as efficient operations and consistency in technology to meet the high precision surface finish are the key factors that determine the profitability of manufacturers.

Report Scope

Attributes

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2015

Forecast period

2017 - 2025

Market representation                 

Volume in kilotons and revenue in USD Million and CAGR from 2017 to 2025

Country scope

U.S., Germany, U.K., China, India, Brazil, and Saudi Arabia

Report coverage  

Volume and revenue forecast, competitive landscape, growth factors, and trends

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Segments Covered in the Report

This report forecasts volume and revenue growth at country level and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global abrasives market report on the basis of type, material, end use, and region.

  • Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014-2025)

    • Bonded

    • Coated

    • Superabrasives

  • Material Outlook (Volume, Kilotons; Revenue, USD Million, 2014-2025)

    • Natural

    • Synthetic

  • End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2014-2025)

    • Automotive

    • Machinery

    • Metal Fabrication

    • Electronic & Electrical Equipment

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014-2025)

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

    • South & Central America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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