Abrasives Market 2018: Share, Competitor Strategy, Industry Trends by Forecast to 2023

Abrasives are used in various end user industries such as building and construction, automobile, electronics, metal fabrication, and machinery among others. The growing demand from the developing region throughout the globe are major factors driving the global market of Abrasives. The growing government investments in the infrastructural development coupled with the augmenting demand from the automobile sector are other factors contributing to the growth of the market. Among the various end-user industry automobile is the dominant segment and expected to show the same trend during the forecast years. The properties such as high tensile strength, and enhanced hardness, has increased the demand for Abrasives in the automobile industry.

Market Segmentation
The Global Abrasives Market is segmented into material, product, type and end user industry. On the basis of material, the market is segmented into natural abrasives and synthetic abrasives. On the basis of product, the global abrasives market is segmented into grinding wheels, sandpaper and others. On the basis of type, the market is bifurcated into coated abrasives, bonded abrasives, and super abrasives. On the basis of end use industry, the market is further segmented into automotive, machinery, metal fabrication, electrical and electronics, building and construction, and others.

Market Scenario
The grinding wheel product segment is the leading type in the market on account of its growing use in the machinery, electrical & electronics and automotive components. The advantages such as high speed, enhanced efficiency and productivity are the major factors contributing to the growth of the segment.

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Regional Analysis
The Global Abrasives Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major portion of the global market and is anticipated to continue its dominance during the forecast period. The developing end user industries in the region such as construction and automotive is expected to fuel the market growth. Moreover, the favorable government regulation has resulted in the shifting of manufacturing base in the Asia Pacific which has further propelled the market growth. The major counties attributing to growth of abrasives in this region are India, China, and Japan. North America is the dominant region for the market abrasives. The developed end user industries coupled with the growing adoption of abrasives are the major factor contributing to the growth of the market. The major countries attributing to this growth are the U.S. and Canada. The European market of abrasives is mainly driven by the developed automobile and electronic industry. Moreover, the increasing use of Abrasives in the metal fabrication industry coupled with the growing demand from the industrial sector is anticipated to further add to the growth of the market during the forecast years.

Competitive Analysis
Some of the prominent players operating in the Global abrasives Market are Robert Bosch GMBH (Germany), 3M Company (U.S.), DuPont (U.S.), Saint-Gobain Abrasives, Inc. (France), Fujimi Incorporated (Japan), Henkel AG & CO. KGAA (Germany), Tyrolit Group (Austria), Asahi Diamond Industrial Co., LTD (Japan) Deerfos Co., Ltd (Korea), and Carborundum Universal Limited: (India).

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