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COVID-19
The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
Market Overview:
The global abrasives market reached a value of US$ 48 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 4.5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Abrasives refer to mineral-based substances that are used for polishing, grinding and cleaning surfaces. They are utilized in ultrasonic machining, abrasive jet machining and magnetic field-assisted polishing. Besides this, as they help remove excess sizing, slicing and material, they are commonly employed in the manufacturing of intricate components or creating ultra-smooth surfaces for machines and aircraft. They also find extensive application in the automotive sector for lowering noise levels, minimizing carbon emissions and manufacturing automotive parts, such as mirrors, valve springs and fuel and de-aeration tanks.
At present, the market is experiencing growth on account of the burgeoning automotive industry. Moreover, the thriving electronics and manufacturing industries act as another growth-inducing factor. Abrasives are used in these industries to scrape the metal in small amounts for manufacturing semiconductors and other electronic equipment with precision. Apart from this, leading players are focusing on various product innovations, such as the development of polyester- and fabric-based abrasives. They are also introducing advanced coated abrasives for metal fabrication, which is propelling the abrasives market growth. Besides this, the growing adoption of super-abrasives, such as industrial diamonds for precision grinding and cutting of hard metals, is also boosting their sales worldwide. However, due to the sudden outbreak of the coronavirus disease (COVID-19), governments of numerous countries have imposed complete lockdowns. This, along with disruptions in the supply chain and the unavailability of labor, has halted the operations of various manufacturing units and impacted the growth of the market. The market will experience growth once normalcy is regained.
Rapid urbanization, inflating income levels and the rising global population have boosted the sales of automobiles worldwide. This, along with the increasing utilization of abrasives for reducing CO2 emissions of high-performance engines and noise levels in automobiles, is strengthening the growth of the market. Moreover, the thriving electronics and manufacturing industries act as another growth-inducing factor. Abrasives are used in these industries to scrape the metal in small amounts for manufacturing semiconductors and other electronic equipment with precision. Apart from this, the increasing construction activities are resulting in the escalating demand for super abrasives. The developments in the manufacturing industry have also enabled improvements in precision tooling, which is utilized in the production of smaller components with greater accuracy. This, in turn, is positively influencing the demand for abrasives. Furthermore, the leading players are focusing on various product innovations, such as the development of polyester- and fabric-based abrasives. They are also introducing advanced coated abrasives for metal fabrication, which is propelling the abrasives market growth. The growing adoption of super-abrasives, such as industrial diamonds for precision grinding and cutting of hard metals is also boosting their sales worldwide. However, due to the sudden outbreak of the coronavirus disease (COVID-19), governments of numerous countries have imposed complete lockdowns. This, along with disruptions in the supply chain and the unavailability of labor, has halted the operations of various manufacturing units and negatively impacted the growth of the market. The market is expected to revive once normalcy is regained.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global abrasives market report, along with forecasts for growth at the global and regional level from 2021-2026. Our report has categorized the market based on product type, end-use, and material type.
Breakup by Product Type:
Breakup by End-Use:
Breakup by Material Type:
Breakup by Region:
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Robert Bosch GmbH, Dowdupont, Fujimi Incorporated, Compagnie De Saint-Gobain S.A., Henkel, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos, Sankyo-Rikagaku, etc.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2020 |
| Historical Period | 2015-2020 |
| Forecast Period | 2021-2026 |
| Units | US$ Billion |
| Segment Coverage | Product Type, End-Use, Material Type, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Robert Bosch GmbH, Dowdupont, Fujimi Incorporated, Compagnie De Saint-Gobain S.A., Henkel, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos and Sankyo-Rikagaku |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global abrasives market was valued at US$ 48 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for abrasives.
We expect the global abrasives market to exhibit a CAGR of 4.5% during 2021-2026.
The growing adoption of super-abrasives, such as industrial diamonds for precision grinding and cutting of hard metals, represents one of the factors catalyzing the global abrasives market.
Based on the product type, the global abrasives market can be segmented into bonded abrasives, coated abrasives, super-abrasives, and others. Currently, coated abrasives account for the majority of the total market share.
Based on the end-use, the global abrasives market has been divided into machinery, metal fabrication, automotive, electronics, construction, and others. Among these, the automotive sector currently exhibits a clear dominance in the market.
Based on the material type, the global abrasives market can be bifurcated into natural abrasives and synthetic abrasives. Currently, synthetic abrasives represent the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global abrasives market include Robert Bosch GmbH, Dowdupont, Fujimi Incorporated, Compagnie De Saint-Gobain S.A., Henkel, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos, Sankyo-Rikagaku, etc.
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