The global abrasives market reached a value of US$ 41.2 Billion in 2018. Abrasives refer to mineral-based substances that are used for polishing, grinding and cleaning softer materials or hard surfaces. Abrasives are classified into natural variants, including corundum, emery and pumice, and synthetic variants, which include silicon carbide, synthetic diamond and ceramic iron oxide, etc. For industrial applications, abrasives are commonly used for de-flashing, paint removal, blast cleaning, tool sharpening and metal cleaning. They also aid in the removal of excess material, sizing and slicing, and are used for the manufacturing of intricate components or ultra-smooth surfaces for automobile, mechanical, electrical and aircraft parts.
The growing automotive industry across the globe is one of the key factors driving the growth of the market. Abrasives are extensively used in the manufacturing of automotive components, including mirrors, valve springs, fuel and de-aeration tanks, and in modifying operating parameters, such as minimizing carbon emissions and lowering the noise levels. Furthermore, the growing adoption of super-abrasives such as industrial diamonds for precision grinding and cutting of hard metals is also providing a boost to the market. Additionally, the rapid growth of the electronics and manufacturing industries in the emerging nations is acting as another growth-inducing factor. Abrasives are utilized to scrape the metal in small amounts to manufacture semiconductors and other electronic equipment with precision and consistency. Moreover, various product innovations, such as the development of polyester- and fabric-based abrasives for wooden products, along with advanced coated abrasives for metal fabrication, are further creating a positive outlook for the market. Looking forward, IMARC Group expects the market to reach a value of US$ 57.5 Billion by 2024, registering a CAGR of 5.6% during 2019-2024.
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.
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