Coated Abrasives Market to Benefit from the Surge in Precision Grinding

Coated Abrasives Market to Benefit from the Surge in Precision Grinding

Coated abrasives have been witnessing a strong demand lately owing to their increased application in end-use industries, particularly metalworking industry. The wide range of applications for coated abrasives is a key factor contributing to the growth of the market. Additionally, the demand surge observed in the automotive manufacturing sector together with mounting usage of coated abrasives in the surface treatment applications is estimated to drive market growth constructively.

The coating abrasives market is anticipated to amass USD 15.9 Billion by 2032-end, reflecting a CAGR of 6.30 percent from 2022-2030. Saint-Gobain, which is one of the foremost producers of coating abrasives and has an extensive product portfolio that comprises of sandpaper and coated abrasives is striving to capitalize on the growing demand for coated abrasives in the woodworking applications fuelled by the developments in the furniture industry. New product developments in the market like blue-fired and white aluminium oxide combined on a latex substrate, which enables flexibility and ease for stock removal are revolutionizing the competitive landscape of the market and are expected to continue to do so during the forecast period. Moreover, the expansion of the electronics and semiconductors sector is expected to contribute positively to the growth of the market. However, convenience in the acquisition of substitutes for coated abrasives and stringent environmental regulations on residues are expected to obstruct market growth.

Coated Abrasive Market: Segmental Overview  

The coated abrasives market globally has been segmented on the basis of application, type, and region for the in-depth analysis of the market. The type-based segmentation of the market includes silicon carbide, aluminum oxide, zirconia aluminum oxide, garnet, ceramic aluminum oxide and emery. Among these, the aluminum oxide segment held the largest shares of the market in 2015 in terms of value. The segment is estimated to surpass USD 3,900 million towards the end of review period, expanding at a CAGR of 6.73%. Based on application, the market has been segmented into automotive, woodworking, metalworking, aerospace & defense, electronics & semiconductors, and others. The metalworking segment is foreseen to demonstrate fast growth in the approaching years because of the broad application scale of coated abrasives in the metalworking sector.

Detailed

Regional Analysis

On the basis of region, the global market for coated abrasive has been segmented into Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa. Asia Pacific currently holds the majority share of the global market, and is expected to continue to exercise its hold throughout the forecast period. The growth of the automotive industry in Asia is expected to benefit the expansion of the coating abrasives market. The market in the Asia Pacific was credited with one-third of the total market in the year 2016 and is estimated to expand at 6.90% CAGR during the forecast period. Rapid industrialization in the region coupled with the presence of a substantial number of producers, rising exports and the economical labor costs is fuelling the unparalleled development of the market. The region is closely followed by Europe, with nations such as Germany, France and the U.K. who are anticipated to control the market share with impressive growth rates due to the noteworthy presence of automotive producers in this region. The market in the Middle East & Africa (MEA) is also projected to achieve a significant growth over the forecast period. The economic stability in the region coupled with the massive scale of construction activities in the developing economies is projected to push the market growth. Furthermore, the growing presence of the leading functional companies in this region is anticipated to boost the expansion of the market in the region.

Global Competitive Analysis

The capacity to gain a competitive edge is one of the critical factors powering the efforts of the competitors. The tone for progress in the market has been modified to a great extent with the inclusion of new players. However, the scope of development in the market likely to remain encouraging for the next couple of years. Robert Bosch GmbH, Napoleon Abrasives S.p.a, Sungold Abrasives, Fujimi Incorporated, Hermes Schleifmittel GmbH, TYROLIT group, Asahi Diamond Industrial Co., Ltd, Cabot Microelectronics Corporation, Jason Incorporated, Saint-Gobain Abrasives, Inc, Schaffner Manufacturing Company, Inc., Carborundum Universal Limited, 3M, Sia Abrasives Industries AG, DEERFOS Co., Ltd., DowDuPont, Inc., VSM Abrasives Corporation and Fandeli International Corporation are some of the players functioning in the global coated abrasive market.

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