Abrasive is a hard material which is used for grinding and finishing, and to remove surface layer of corrosion or paint. It is primarily used in construction, electronic, and manufacturing industries to offer a superior polished surface finish. Additionally, increasing investment in research and development activities by major manufacturers to produce innovative and less hazardous product may further propel the growth of market.
Geographically, the global abrasive market is segmented in majorly five regions North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific is expected to witness remarkable growth in the global abrasive market during the forecast period 2019–2026. This is attributed to growing production volumes of automobile, medical device and packaging, especially in emerging countries such as India, and China. Furthermore, the increasing number of local manufacturers of products in China coupled with the relatively low labour cost in China is likely to increase the production of abrasives in the region.
Europe is expected to witness considerable growth in the global abrasive market due to the growing demand for vehicles and increasing advancements in vehicle technologies in few countries such as France, Germany, U.K and Italy. Germany is expected to hold the important position in the regional market and account for largest market share, followed by U.K. Additionally, the growing electronic industry in France and Germany is likely to further promote the use of products in manufacturing electronic components.
North America is expecting healthy growth in the abrasive market owing to increasing demand from the interior and furniture industry and increasing consumer preference towards use of aesthetically appealing and better quality furniture. Additionally, high adoption rate in metal fabrication application that are coupled with the continuous development of the end-user application sector is likely to further raise the demand for different types of products.
Latin America and Middle East & Africa are projected to witness a steady growth in the abrasive market. This is mainly ascribed by the growing construction and infrastructural activities in developing countries of the Middle East such as Turkey, Kuwait, Saudi Arabia, and Turkey.
The global abrasive market is segmented into type, material, and end user industry.
Depending on the type, the abrasive market is segmented into bonded, coated, and super. The coated segment is expected to witness a considerable growth owing to its superior properties and improved performance compared to other types of products.
On the basis of material, the market is segmented into natural, and synthetic. Natural segment are expected to witness considerable growth owing to its increasing applications in automotive sector.
On the end-user industry, the abrasive market is segmented into automotive, metal fabrication, machinery, electronic construction, and others. Among end-use industry, automotive industry is anticipated to propel the growth of the abrasive market during forecast period, 2019-2026. This growth is attributed to its applications such as coarse sanding, repair sanding, polishing etc. in manufacturing of vehicles. For instance, according to International Organization of Motor Vehicle Manufacturers, China's production of cars and commercial vehicles in 2016 was 28,118,794 units and it was increased to 29,015,434 units in 2017.
Abrasives Market Segmentation
By End Users