Market Overview:
An abrasive, a type of hard mineral or material, has found use in a wide range of domestic, industrial, and technological applications. Abrasives are used in various operations such as grinding, polishing, lapping, honing, pressure blasting, and others. The growth is majorly driven by the increasing popularity of super abrasives and growing automotive production. The industry is anticipated to witness significant growth on account of the growing demand for the product in grinding and polishing applications in end-use sectors such as automotive, Electronic and Electrical (E&E) equipment, metal fabrication, and machinery.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Key Companies Profiled | DuPont (United States), Robert Bosch GmbH (Germany), Cabot Microelectronics Corporation, Saint Gobain S.A (France), Fugimi Incorporated (Japan), Henkel (Germany), Tyrolit (Austria), Asahi Diamond Industrial Co., LTD (Japan), Deerfos (Korea), KREBS & RIEDEL (Germany), Nippon Resibon Corporation (Japan), Sankyo-Raikagaku Co., Ltd. (Japan) and Noritake Co. Limited (Japan) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region or narrow down segments in the final scope subject to feasibility |
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics of major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Key Vendors of Abrasive Material Market Study:
DuPont (United States), Robert Bosch GmbH (Germany), Cabot Microelectronics Corporation, Saint Gobain S.A (France), Fugimi Incorporated (Japan), Henkel (Germany), Tyrolit (Austria), Asahi Diamond Industrial Co., LTD (Japan), Deerfos (Korea), KREBS & RIEDEL (Germany), Nippon Resibon Corporation (Japan), Sankyo-Raikagaku Co., Ltd. (Japan) and Noritake Co. Limited (Japan)
Abrasive Material Market Segment Analysis
Scope | Sub-Segments |
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Application / End User | Buffing, Cutting, Grinding, Honing, Lapping, Machining and Polishing |
Type | Bonded Abrasive, Coated Abrasive and Super Abrasive |
End Use Industry | Automotive,Machinery,Metal Fabrication,Electrical & Electronics Equipment,Others |
Material Type | Natural,Synthetic,Metallic Abrasives,Aluminium Oxide,Silicon Carbide,Others (Boron Carbide, Ceramic Aluminum Oxide, and Others) |
Influencing Trend:
Decreasing Cost of Synthetic Diamond
Market Growth Drivers:
High Demand from Metal Fabrication Industry, Increasing Automotive Industry in both Developing and Developed Nations and Expansion of the Construction Sector on Global Scale
Challenges:
Stringent Government Regulations and Volatile Cost of Raw Materials
Opportunities:
Huge Demand from End-Use Industries Includes Metal Fabrication, Automotive Industry and The Growth in the Production of Electronic Components Globally
Some of the other players that are also part of study are Tyrolit Schleifmittelewerke Swaroski K.G (Austria), Abrasiflex (Australia), Jason Inc. (United States) and Carborundum Universal Limited (India). The Global Abrasive Material market is gaining huge competition due to involvement of Japanese and United States companies that constantly invest in research & development to meet market expectation with new innovation.
Latest Industry Highlights:
In July 2021, Billabong and Wrangler® come together in an exciting collaboration to introduce their inaugural collection, the Billabong x Wrangler Collection. This collaboration showcases the finest elements of both brands, combining a Western influence with vintage surf aesthetics. The first release of the Billabong x Wrangler Collection is now available, coinciding with the back-to-school season. Additionally, a second installment inspired by the fall season is set to launch in September 2021, further adding to the anticipation surrounding this unique collaboration.
In June 2023, Imerys, the global frontrunner in specialty solutions derived from minerals, successfully acquired an 80% ownership stake in British Lithium. British Lithium, a private company, has achieved a significant breakthrough by developing a specialized method to extract battery-grade lithium carbonate from Cornish granite. This strategic transaction combines Imerys' extensive mining expertise, Cornwall-based infrastructure, research and development capabilities, and lithium mineral resources with British Lithium's cutting-edge technology and advanced lithium pilot plant. Notably, the pilot plant has recently demonstrated the capability to produce battery-grade lithium carbonate, marking a significant achievement for the company.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Abrasive Material market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Abrasive Material market.
Identification of total players or companies operating in the global market which is further concentrated to fewer or most impacting players which are considered under the reports scope. In order to make a priority list sorting is done based on revenue generated based on the latest reporting with the help of paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Abrasive Material manufacturers, Raw Material Suppliers, Traders and distributors of abrasives, Associations and industry bodies, Regulatory Bodies, End-Use Industries and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.