Abrasives Market 2020-2024 | Increasing Demand for Abrasives from the Automotive Industry to Boost Market Growth | Technavio

·6-min read

The global abrasives market size is expected to grow by USD 9.15 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report

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Technavio has announced its latest market research report titled Global Abrasives Market 2020-2024 (Graphic: Business Wire)

The demand for abrasives from the automotive industry is one of the major factors propelling the market growth. However, factors such as improper storage causing technical issues will hamper the market growth.

In the automotive industry, abrasives are used for sizing engine parts, deburring, and cleaning. They are also used for repairing and maintaining autobody, interiors, and accessories. Furthermore, they are used for smoothening welds, cleaning pipe interiors, and roughen or smoothen surfaces and edges. Coated abrasives are popularly used abrasives in the automotive industry. In the transportation sector, coated abrasives are used in finishing and grinding applications. The increasing motor vehicle production will drive the demand for abrasives, fueling the market growth.

More details: www.technavio.com/report/abrasives-market-industry-analysis

Global Abrasives Market: End-user Landscape

In the general engineering industry, abrasives are applied to grinding wheels that are used as cutting tools. They are generally used in abrasive jet machining technology or pencil blasting and abrasive microblasting. These technologies do not generate heat and can be used in major applications such as blasting and manufacturing tools. Abrasives are applied to buffs that are multifaceted tools that are used in numerous applications, ranging from cutting to polishing. Buffing is suitable for finishing pots and pans, alloy ware, and flat pans. Meter buffs, wavering buffs, and classic airway buffs are some types of buffs used in such applications. Market growth in this segment will be slower than the growth of the market in the fabrication, automotive, and electronics segment.

Global Abrasives Market: Geographic Landscape

APAC was the largest abrasives market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the thriving automotive, electronics, general engineering and tooling, and construction industries will significantly drive abrasives market growth in this region over the forecast period. 71% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for abrasives in APAC. Market growth in this region will be faster than the growth of the market in regions.

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Companies Covered

  • 3M Co.

  • Asahi Diamond Industrial Co. Ltd.

  • Carborundum Universal Ltd.

  • Compagnie de Saint-Gobain SA

  • Fujimi Inc.

  • Henkel AG & Co. KGaA

  • Hermes Schleifmittel GmbH

  • Jason Industries Inc.

  • Robert Bosch GmbH

  • WEEM Abrasives

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, till 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Abrasives Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist in abrasives market growth during the next five years

  • Estimation of the abrasives market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the abrasives market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of abrasives market, vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by end-user

  • Market segments

  • Comparison by end-user

  • General engineering and tooling - Market size and forecast 2019-2024

  • Fabrication - Market size and forecast 2019-2024

  • Automotive - Market size and forecast 2019-2024

  • Electronics - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by End-user

Market Segmentation by Type

  • Market segments

  • Comparison by Type

  • Bonded abrasives - Market size and forecast 2019-2024

  • Coated abrasives - Market size and forecast 2019-2024

  • Superabrasives - Market size and forecast 2019-2024

  • Market opportunity by Type

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Volume Drivers – Demand led growth

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • 3M Co.

  • Asahi Diamond Industrial Co. Ltd.

  • Carborundum Universal Ltd.

  • Compagnie de Saint-Gobain SA

  • Fujimi Inc.

  • Henkel AG & Co. KGaA

  • Hermes Schleifmittel GmbH

  • Jason Industries Inc.

  • Robert Bosch GmbH

  • WEEM Abrasives

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201028005677/en/

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