ID: MRFR/CnM/1783-CRR | June, 2018 | Region: Global | 130 pages | Cooked Research Reports
Global Coated Abrasives Market Research Report, By Type (Aluminum Oxide, Silicon Carbide, Zirconia Aluminum oxide, Ceramic Aluminum oxide, Garnet, Emery and Others ), By Backing Material (Cloth, ("J" Weight, "X" Weight and "H" Weight), Paper ("A" Weight, "C" and "D" Weights, and “F” Weight, Fiber and Combination)By Application (Metal Working, Wood Working, Automotive, Electronics & Semiconductors, Aerospace & Defense and Others), By Regions - Forecast till 2022
The global coated abrasives market is expected to capture a compound annual growth rate of 6.3% during the forecast period (2017-2022). Coated abrasives continue to be an imporatnt industrial tool. Industries such as metalworking, aerospace & defense, woodworking, automotive and electronic & semiconductor are some of the major end-users of coated abrasives. The high perforemance capacity of coated abrasives enable their use in metal and alloy modling processes. In addition, the recently improved performance of the global manufacturing sector is also ushering market growth. The current outlook towards the coated abrasives industry remains positive with minimum deviation foreseen during the projected period.
The semiconductor manufacturing boom is observed as a key growth enabler for the market. The IoT explosion has provided an impetus to the semiconductor industry, most of the modern electronic devices consist of semiconductors. Countries such as China, Japan and Taiwan are the flag-bearers of semiconductor manufacturing, accounting for a noteworthy share of the global supply, which also makes them major makets for coated abrasives. During the assessmnet period, emerging markets are expected to remain the primary investment distination for market players owing to the ongoing indutrial boom.
The users of the report will gain access to market relevant information that is factual and value-based. The market sizing in report covers both the parameters of the market i.e. market by value and volume. In addition to this, a thorough segmental analysis of the global coated abrasive market based on type, application and region is also avalible in the report. This will allow report users to tap on the growth segments and design strategies to mitigate risk. By type, the market segments largely discussed in the report include aluminum oxide, silicon carbide, zirconia aluminum oxide, ceramic aluminum oxide, garnet and emery. Based on application, the market is segmented into metalworking, woodworking, automotive, electronics & semiconductors, aerospace & defense, and others. On the basis of the region, the global market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The Global Coated Abrasives Market Report covers the value, volume, market share, country level break down for each segment, market dynamics, supply chain analysis, porter’s five forces analysis, market pricing analysis, net trade analysis, competitive landscape, and company profile.
Saint-Gobain Abrasives, Inc, Carborundum Universal Limited, 3M, sia Abrasives Industries AG, Robert Bosch GmbH, Fujimi Incorporated, TYROLIT group, Asahi Diamond Industrial Co., Ltd, Cabot Microelectronics Corporation, Jason Incorporated, Schaffner Manufacturing Company, Inc., DEERFOS Co., Ltd., DowDuPont, Inc., VSM Abrasives Corporation, Napoleon Abrasives S.p.a, Hermes Schleifmittel GmbH, Sungold Abrasives, and Fandeli International Corporation.
The report delivers reliable estimations of market size and value. The use of both top-down and bottom-up perspectives ensure a highly credible market sizing and analysis of various relevant market segments. Systematic and scientific methods are used by data analysts to examine all the variables affecting market growth and gain new insights on market trends, restraints, and opportunities. Use of primary methods, such as interviews with key decision makers of market-leading competitors, in tandem with secondary research, provides a detailed, careful analysis of all pertinent information. Our data analysts use credible sources such as annual reports, SEC filings, and white papers for the consolidation of unique intelligent inputs.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for coated abrasives
The global abrasives market is estimated to grow from USD 10.23 Bn in 2016 to USD 14.67 Bn by 2022 end. This translates to a projected CAGR of 6.3% during the forecast period. Increasing use of coated abrasives in end-use industry applications has provided avenues for growth. Many market players are using e-commerce due to its potential to create lucrative opportunities.
The current automotive industry trends and growth patterns are positively influencing the demand for coated abrasives in various surface treatment applications such as coating, finishing, and bodywork. Ideal in grinding, blending, finishing and polishing applications, coated abrasives have found an increasing demand in the metalworking industry due to the diversity with which they can be used. Additionally, the flourishing furniture industry is experiencing increased demand for coating abrasives in woodworking for flat surface sanding and edge sanding.
Although coated abrasives are the more affordable option, super abrasives are rapidly gaining popularity due to their superior performance capabilities such as exceptional durability and reduced manufacturing downtime. The edge that super abrasives have over coated abrasives is set to restrain market growth. Other market restraints include the expense associated with storage and freight of raw materials in the manufacturing of coated abrasives and the implementation of stringent environmental laws.
It should be noted, however, that the market is not without opportunities for considerable growth in the future. E-commerce is a market that is projected to grow notably in the coming years. The availability of high-speed internet, ease of use, diversity of products and superior services have created an opportunity for growth of the coated abrasives market. Moreover, the adoption of Chemical Vapor Deposition (CVD) in the coated abrasive manufacturing has been increasing creating more opportunities for applications.
The global coated abrasives market has been segmented by type, application, and region. The type segment includes aluminum oxide, silicon carbide, zirconia aluminum oxide, ceramic aluminum oxide, garnet, emery. Of these, aluminum oxide commanded the most significant market share valued at USD 3.97 Billion in 2015. During the forecast period, this segment is expected to grow with the highest CAGR of 6.73% due to the material's tough cutting edge and steadfast durability. By application, the coated abrasives market is segmented into metalworking, woodworking, automotive, electronics & semiconductors, aerospace & defense, and others. Metalworking held the largest share in 2015 and was valued at USD 2.5 billion, additionally, the segment has diverse applications for coated abrasives which are expected to contribute to rapid segment growth.
Regional Market Summary
Rapid industrialization, the strong presence of various market leaders and the availability of abundant cheap labor in the Asia Pacific has contributed toward the regions sizable market share. Asia Pacific accounted for over one-third of the total market share valued at USD 3.44 billion in 2015 and is expected to grow with a significant CAGR of 6.90% over the review period. Rising exports and manufacturing activities in this region are likely to keep the Asia Pacific in the lead. Europe closely follows the Asia Pacific, with developed countries such as Germany dominating the market share; this can largely be attributed to the wide scope of automotive manufacturing in the region.
Meanwhile, the Middle East & Africa is expected to witness the fastest growth with a CAGR of 7.89% during the assessment period. Growing economic stability in developed countries of this region is expected to compel market growth. Additionally, the region's proximity to the Asia Pacific has encouraged several market leaders to operate from this region, thus fuelling market growth.
Prominent market players in the global coated abrasives market include Robert Bosch GmbH, Sia Abrasives Industries AG, Saint-Gobain Abrasives, Inc., Carborundum Universal Limited, and 3M.
Other market players of note include Jason Incorporated, Schaffner Manufacturing Company, Inc., DEERFOS Co., Ltd., DowDuPont, Inc., VSM Abrasives Corporation, Fujimi Incorporated, Tyrolit Group, Asahi Diamond Industrial Co., Ltd, Cabot Microelectronics Corporation, Jason Incorporated, Fandeli International Corporation, Sungold Abrasives, Napolean Abrasives S.P.A and Hermes Schleifmittel GmbH. Innovative product launches, expansion of manufacturing capabilities, the filing of patents and acquisitions are some crucial market strategies employed by the players mentioned above.
Global Coated Abrasives Market: Competitive Landscape
The top five players in the global coated abrasive market include Saint-Gobain Abrasives, Inc, Carborundum Universal Limited, 3M, sia Abrasives Industries AG, and Robert Bosch GmbH. These players collectively account for the dominant share of the global market. The global coated abrasives market is highly fragmented. Industry players are adopting collective approaches to capitalize on growth opportunities. At the same time, vendors are implementing strategies such as acquisition, new product launch, capacity expansion, and patent filing.
Saint-Gobain is the leading manufacturer of high performance and value-added abrasives; it achieved the status through continuous collaboration and products development efforts. The company caters to clients from sector such as construction, innovative materials, and building distribution center. Saint Gobain manufactures abrasives under innovative materials. The company has a wide product portfolio, which includes sandpaper & coated abrasives, cut-off and grinding wheels or bonded abrasives, diamond blades and tools, non-woven, and super abrasives.. The company operates in various regions including Asia Pacific, North America, EMEA (Europe, Middle East, and Africa), and South America. 25% of net sales of the company comes from its innovative materials business. The Company employ 27,000 employees across 46 countries
3M offers a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. It caters to clients from industrial & transportation, healthcare, safety & graphics, consumer, and electronics & communications. The company offers an array of products used across different industries including automotive original equipment manufacturer (OEM), automotive aftermarket (auto body shops and retail), electronics, appliance, paper and printing, packaging, food and beverage, and construction. 3M operates globally through its subsidiaries. The company operates with 133 manufacturing facilities across 40 countries around the world. It has a workforce of around 87,677 employees globally.
sia Abrasives Industries AG a subsidiary of sia Abrasives Holding AG is also into abrasives manufacturing, developing, and marketing. The company caters to clients from domain such as automotive, metal, wood, and composites applications. The company majorly offers coated, foam, nonwoven, and bonded abrasives. It offers abrasives for various sanding applications including manual and portable sanding machine, stationary machine sanding and stationary belt and abrasive formats, which include rolls, strips, foam abrasives, sheets, delta/polygon, discs, belts, brushes, polishing systems, flap discs, flap wheels and system components.
Robert Bosch GmbH along with its few other subsidiaries offers technology and services across the globe. The company operates through four business segments namely industrial technology, mobility solutions, consumer goods, and energy and building technology. Robert Bosch GmbH was previously known as Workshop for Precision Mechanics and Electrical Engineering and changed its name to Robert Bosch GmbH in 1937. The company has a vast network with the workforce of around 400,500 across the globe.
Carborundum Universal Limited is deeply involved in the manufacturing and selling of abrasives, electro minerals, and ceramics. The company offers bonded and coated abrasives, processed cloth, power tools, and coolants. The company exports its product to 50 countries across South Africa, Asia, North America, and Europe. The company is focusing on increasing the indigenous sourcing and lowering the gap between exports and imports to ensure profitability in abrasive business.