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, Machinery), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-099-6
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 118

Industry Insights

The global abrasives market size was valued at USD 39.62 billion in 2018 and is estimated to witness a CAGR of 5.9% from 2019 to 2025. The growth is majorly driven by the increasing popularity of superabrasives and growing automotive production. The industry is anticipated to witness significant growth on account of growing demand for the product in grinding and polishing applications in end-use sectors such as automotive, Electronic and Electrical (E&E) equipment, metal fabrication, and machinery.

Growing demand for abrasives from the automotive industry is the key driving factor for the rising product demand. Abrasives play a vital role in manufacturing automotive components in modifying operating parameters such as lowering the noise levels and reducing the carbon dioxide emissions of high-performance engines, and machining of components. According to OICA, the global cars and commercial vehicles production grew by 9.2% in 2018 from 2013. This factor is anticipated to positively influence the product demand from the automotive industry.

China abrasives market

Expansion of the construction sector on global scale is also expected to drive the growth in demand for abrasives, especially superabrasives. Evolution of the manufacturing industry has enabled improvement in precision tooling, which is useful in manufacturing smaller components with greater accuracy, in turn boosting the consumption of abrasives used in the process.

The product demand is however, expected to be restrained by stringent regulations and cost of raw materials. There are certain restrictions with regard to the manufacturing process of the product, which can cause obstruction in production. Abrasives production requires raw materials in large amounts and concentration of raw materials in limited number of nations is anticipated to affect the distribution strategies coupled with additional costs such as transportation and fuel among others.

Material Insights

In terms of material, the abrasives market has been bifurcated into natural and synthetic. The natural segment accounted for a volume share of 16.7% in 2018. The small share of the segment is owing to the high production cost and less availability. U.S. is a significant market for natural materials due to production of garnet in the region.

Synthetic materials segment is forecast to register a CAGR of 6.2% in terms of revenue, over the forecast period. High demand for fused aluminum oxide and silicon carbide abrasives is a major reason behind the growth of the segment. Ceramic grain abrasives held one-fourth share of the synthetic materials segment in 2018, in terms of revenue.

Ceramic segment can be further segregated into coated and bonded ceramic. Bonded constitutes a higher share than the coated variant. The demand for bonded ceramic abrasives is high in Asia Pacific owing to the presence of a large players in the region.

End Use Insights

Automotive held the largest revenue share of 36.6% in 2018. Abrasives are used for various applications such as coarse sanding, lacquer sanding, repair sanding, and polishing.Superabrasives in the form of diamond discs are preferred for grinding and polishing. Growing automotive production is expected to boost the consumption of abrasives over the forecast period.

Machinery held the second largest market share in 2018. The demand for advanced abrasives in specialized applications, including the machining of metal matrix composites and advanced ceramics, is expected to witness promising growth. Robust growth in Asia Pacific machinery industry is expected to drive the growth in the forthcoming years.

Metal fabrication is projected to register highest CAGR in terms of revenue over the forecast period. The segment growth is driven by increasing consumption for fabricated parts in aerospace, automotive, ship building, and various other industrial sectors.

Product Insights

Based on product type, the market is segmented into bonded, coated, and superabrasives. Bonded was the largest segment in 2018, accounting for a volume share of 74.3%. Bonded abrasives are available in different forms like wheels and discs and they find application in precision and rough grinding. The growth of automotive industry is anticipated to boost the segment growth over the forecast period.

Coated abrasives consist of thin layer of grains, attached to a substrate like paper or cloth with the help of adhesives, for example, sandpaper. These are available as rolls, discs, belts, and sheets, among others. The product growth is attributable to its growing demand from Asia Pacific, especially in China and India where these are used in applications such as grinding, polishing, and sanding various types of materials including leather, rubber, wood, ceramics, and others.

Global abrasives market

Superabrasives segment is forecast to expand at an estimated CAGR of 6.4% during the next seven years, in terms of revenue. These are used for hard materials to provide high quality surface finish. Growth in manufacturing sector across the globe is anticipated to boost the consumption of the product over the forecast period.

Regional Insights

Asia Pacific was the largest regional segment and accounted for a volume share of 51.1% in 2018 of the global market. The demand for abrasives is estimated to be steady owing to the surge in construction and manufacturing sectors. The emerging economies in the region acquiring high-end technology for the manufacturing of customer-specific abrasives is also expected to augment the market growth.

China held the largest share in Asia Pacific accounting for a volume share of 42.9% in 2018.The market in China is mature with the presence of numerous unorganized players and abundant raw material availability. As per a 2018 report published by the U.S. Geological Survey, China was one of the largest producers of fused aluminum oxide and silicon carbide globally.

North America is expected to expand at a CAGR of 4.9% in terms of revenue, over the forecast period. The regional demand is led by U.S., which is expected to witness significant gains in terms of market share over the forecast period. The development of precision tooling and sophisticated machine part manufacturing units in North America is expected to promote market growth in the forthcoming years.

Abrasives Market Share Insights

Competition in the market is intense as most of the products are priced similarly, even though each company's products may have slightly different characteristics. The 3M Company, Saint-Gobain, Robert Bosch GmbH, NIPPON RESIBON CORPORATION,DRONCO GmbH, and KWH Mirka are among the key manufacturers. New product development is one of the major strategic initiatives adopted by the players. For example, in November 2019, Mirka launched a new WPF Next Gen paper abrasive that is suitable for both dry and wet hand sanding.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Volume in Kilotons

Revenue in USD Million

CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

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

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels, and provides an analysis of the latest 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 material, product type, end use, and region:

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

    • Natural

    • Synthetic

    • Ceramic

      • Bonded

      • Coated

    • Others

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

    • Bonded

    • Coated

    • Superabrasives

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

    • Automotive

    • Machinery

    • Metal Fabrication

    • E&E Equipment

    • Others

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

    • North America

      • U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

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