Abrasives Market Expected To Trigger A Revenue Increase To USD 59.34 Billion By 2025: Grand View Research, Inc.

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According to a report by Grand View Research, Inc., global abrasives market is anticipated to value USD 59.34 billion by 2025. Growing requirement for superior polished surface finish in electronic devices, automobiles, and construction is anticipated to propel demand for abrasives.

According to a report by Grand View Research, Inc., global abrasives market is anticipated to value USD 59.34 billion by 2025. Growing requirement for superior polished surface finish in electronic devices, automobiles, and construction is anticipated to propel demand for abrasives. These abrasives can be used to shape various materials through grinding, cut hard materials made of steel or concrete, and remove surface layers of paint.

Rapid expansion of automobile sector is anticipated to propel demand for abrasives over nest few years. High demand for automobile offering superior surface finish is likely to drive use of advanced abrasives among automobile manufacturers. In addition, growing environmental concerns are expected to push manufacturing companies to design light-weight vehicles. Such vehicles can be economical and are likely to emit low carbon dioxide while offering superior performance. Such vehicles can require high quality assemblies and engine components. This, in turn, can fuel demand for abrasives among automobile manufacturing companies and lead to market growth over the forecast period. In addition, growing construction sector globally can also stimulate growth of market. Continual technological advancements in abrasives attributed to rising R&D investments from leading manufacturers can spur market growth during the forecast period (2014 to 2025).

Full Research Report On Abrasives Market Analysis: 

U.S. abrasives market, by application, 2014 - 2025 (USD Billion)

The abrasives market can be segregated on the basis of type, material, end-use, and region.
Based on type, the market can be categorized into coated, bonded, and super abrasives. In 2016, bonded abrasives dominated the market and accounted for largest market share. It is likely to grow at similar pace during the forecast period. Rubber, ceramic, resinoid, oxychloride of magnesium, and silicate of soda are type of bonds that can be used for bonding various grains to produce bonded abrasive products. Ceramic or vitrified type of bonding is expected to be prominent method employed for production of bonded abrasives.

Based on material, the market can be bifurcated into synthetic and natural. Synthetic segment is anticipated to witness high demand during the forecast period as compared to its counterparts. Superior physical properties such as durability and high efficiency can augment demand for synthetic abrasives over next few years.

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Global abrasives market revenue share, by type, 2016 (%)

However, growth of natural abrasives is likely to decline over the forecast period attributed to high production cost and lack of availability. Synthetic abrasives having silicon carbide are expected to replace natural abrasive called emery. In addition, synthetic corundum can provide better gain size and is likely to contain less impurities as compared to natural counterparts. This, in turn, can fuel demand for synthetic abrasives during the forecast period.

Based on end-use, the market can be classified into metal fabrication, machinery, automotive, electronic & electrical equipment, and others. In 2016, automotive segment contributed maximum for market while accounting for 39% of market volume. Increasing use of abrasives in automotive sector for lacquer sanding, coarse sanding, polishing, and repair sanding can influence growth. Wide range of sandpapers ranging for 24 to 2000 are expected to be used in automotive sector over next few years.

Regional segmentation includes North America, Asia Pacific, Europe, South & Central America, and Middle East & Africa. It is expected to hold 55% of market share in terms of revenue by 2025. In Asia Pacific, the market is expected to be dominating and grow at significant rate during the forecast period. Growing adoption of electrical and electronic components attributed to growth of urban population and end-use segments can influence growth of market in this region. In addition, high demand for quality electronic devices owing to digitization and industrialization can augment demand for abrasives over the forecast period.

In North America, United States is expected to contribute well for growth of market during the forecast period. High demand for abrasives from manufacturing companies in high-end precision grinding and rolling can influence growth. In addition, rapid expansion of market can create lucrative opportunities for new entrants having technical expertise can also fuel market growth over the forecast period.

Some of the leading companies offering abrasives market are 3M Company; Saint-Gobain Abrasives, Inc.; Robert Bosch Gmbh; Nippon Resibon Corporation; and Dronco GmbH. Major players are likely to enjoy economies of scale in purchasing. However, small scale manufacturers are expected to compete effectively by acquiring technical know-how of particular manufacturing functions. Factors such as consistency in technology and operational efficiency to meet high precision surface finish can determine profitability of manufacturers.

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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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