The Growing Demand for Furniture and Interior Design Is Expected to Propel the Abrasives Market

Fri, 27 November 2020 3:23

Abrasive is any material that is used for precision grinding, rubbing, and shaping, among others. It is also used for polishing the materials. Abrasives are of different hardness. The hardest natural abrasive material available on the earth is diamond, which is also known as the super abrasive material and is used mainly for precision grinding and cutting.

Along with the construction industry, the demand for furniture and interior design increases at a fast pace in hotels, residential buildings, corporate and government offices, comfortability, and aesthetics. Therefore, the increasing demand for furniture and interior designing is anticipated to propel the global abrasives market as abrasives are extensively used in the furniture and interior designing sectors to polish, rub, and cut different materials.

According to Statista, in 2018, furniture and home furnishings stores' sales were around USD 117 billion in the U.S. The increasing furniture and interior designing demand require more abrasives for different operations, including precision, polishing, cutting, shaping, and rubbing.

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Figure 1: Monthly Retail Sales of Furniture and Home Furnishing Stores in the U.S.  From 2017 to 2019 (USD Million)

Monthly-Retail-Sales-of-Furniture-and-Home-Furnishing-Stores-in-the-US-From-2017-to-2019

Source: Statista

The graph above is showing that the demand for furniture is increasing gradually every year. It can be seen that in January 2017, the sales of furniture and home furnishing stores were around USD 8,255 million in the U.S., and it increased to USD 10,782 million in December 2019. This increment in furniture sales is one of the significant factors for abrasive market growth.

Key Players

  • Asahi Diamond Industrial Co., Ltd
  • Saint-Gobain Abrasives, Inc.
  • 3M Company
  • DRONCO GmbH
  • Grupo Cosentino, S.L. (Cosentino S.A)
  • Robert Bosch GmbH
  • Cabot Microelectronics Corporation
  • CumiMurugappa Group (Carborundum Universal Limited)
  • Fujimi Incorporated
  • KWH Mirka
  • TYROLIT Group
  • Jason Incorporated
  • Henkel Ag and Co. Kgaa
  • Noritake Co., Ltd
  • Nippon Resibon
  • DowDuPont, Inc.
  • Sankyo Rikagaku Co., Ltd.
  • Schaffner Manufacturing Company, Inc.
  • DEERFOS Co., Ltd
  • Sia Abrasives Industries AG
  • Abrasiflex Pty Ltd
  • Carborundum Universal Limited
  • Noritake Co.,Limited
  • Krebs and Riedel
  • SurfacePrep
  • Flexovit

Abrasives Market: Segmentation

By Raw Material

  • Natural
  • Synthetic
    • Metallic Abrasives
    • Aluminum Oxide
    • Silicon Carbide
    • Others

By Product Type

  • Coated Abrasive
  • Bonded Abrasive
  • Super Abrasive

By End-User

  • Automotive
  • Machinery
  • Aerospace
  • Metal Fabrication
  • Electrical and Electronic Equipment
  • Others

By Bonding Agent

  • Vitreous
  • Resin
  • Metal Bonded
  • Electroplated
  • Rubber
  • Others

By Application

  • Grinding
  • Cutting
  • Polishing
  • Drilling
  • Others

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • Rest of Africa

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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