The global coated abrasives market is expected to grow over the forecast period due to end-use industries' rapid growth. Coated abrasives find their applications such as auto ancillaries, fabrication, furniture, general engineering, auto OEM and flooring. Industry abrasive users prefer coated abrasives over their counterparts, due to their striking benefits such as surface finishes with high productivity. This is also expected to drive the market over the forecast period. Increasing demand in the welding, automotive, foundry, and jewelry industries is also anticipated to propel the market in the next seven years. Market participants are focusing on novel products such as wide belts, flexible belts, nonwoven fabric abrasives, seeded gel abrasives, and polyester-backed abrasives. This factor is also expected to boost demand over the forecast period. Fluctuations in raw material prices are anticipated to hinder the market growth over the forecast period. Underdeveloped testing and quality control equipment is expected to hamper product demand. High energy consumption and less efficient firing systems are expected to have a negative impact on the market over the next seven years. Difficulty in the availability of manufacturing equipment is anticipated to curb market growth. Development in machinery and equipment utilized in manufacturing the product is expected to be one of the major factors to provide opportunities in the market.
Coated abrasives consist of three elements; abrasive grains, flexible or semi-rigid backing, and an adhesive that bonds the grains to the backing. Coated abrasives are manufactured by pasting synthetic and natural abrasive grains. Abrasive grains consist of silicon carbide, garnet, emery aluminum oxide, and zirconia alumina. Backing materials are cloth, fiber, paper, and polyester film. They are produced in the form of jumbo rolls and then cut into pieces to make various products such as discs, sheets, and belts.
Coated Abrasives are extensively applied in cleaning, imparting shape and finish, abrading, and grinding. Coated abrasives are also utilized in consumer goods, implants, and prosthetics. They are also used for certain surface treatment applications such as blending, dimensioning, polishing, etc. This is expected to boost product demand over the forecast period.
The Asia Pacific is expected to be the largest coated abrasives market due to growing demand in emerging nations such as India and China and owing to expansion in fabrication, automotive, and machinery industries. North America is anticipated to witness slack growth over the forecast period due to shrinking demand in the U.S. Europe is also expected to display stagnant growth over the next seven years.
Market participants are expected to modernize and replace obsolete conventional machinery to increase the level of automation to improve product quality and consistency. The product demand is anticipated to increase over the next seven years, thus the development of machinery and equipment is essential to increase the productivity of coated abrasives. Research and development activities are being carried out to develop new products and manufacturing processes to reduce product costs and improve productivity. Market participants are also trying to achieve expertise in niche segments so that coated abrasives demand in these segments can be exploited. Manufacturers of coated abrasives market in emerging economies are developing equipment for process control, inspection, testing, and quality control to achieve standards and bring down the cost of grinding. R&D is also being conducted to develop novel products to improve their demand over the forecast period. Participants are concentrating on good warehousing facilities, reliable transportation services, and better infrastructure to boost their exports. Market players are trying to promote their products in low penetrated markets such as the Middle East and Africa. Key market players are getting into technological collaborations to meet the rising coated abrasive demand.
Major market players operating in the global coated abrasives market include Robert Bosch GmbH, Cabot Microelectronics Corp., Saint-Gobain Abrasives, 3M, DuPont, Hermes Abrasives Ltd, Henkel AG & Co., Carborundum Universal Ltd., Jason Inc, Almatis GmbH, Fujimi Inc.
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The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor.
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