ID: MRFR/CnM/1783-CR | June 2018 | Region: Global | 130 pages
The primary market claims to have a revenue of USD 14,671.2 million at 6.3% CAGR by 2022.
The coated abrasives market is an upcoming marketplace; it consists of an abrasive grain fixed into a definite backing material or substrate usually made of paper, ordinary cloth, vulcanized rubber, and high-quality polyester film. The most used high-quality coated abrasives grains are aluminum oxide, silicon carbide, zirconia alumina, ceramic alumina, garnet, and emery. These Coated Abrasives are readily available in different product forms, such as present in belts, rolls, discs, and wheels. Most of the prominent and major growth factors that are identified for the Coated Abrasive Market includes better-augmented demand from the metalworking industry for accomplished applications coupled with important spending on specific abrasives in the metalworking industry worldwide, rise in automotive production, and increased demand for innovative abrasive products in various electronics & semiconductor.
COVID 19 Impacts and effects
As per the Coated Abrasives Industry, the COVID 19 has impacted the world's market. The COVID 19 has grieved 215 countries. To combat the negative effects, countries lead lockdowns that have adversely affected the market. The pandemic has made an impact on this market segment. Due to the COVID-19 outbreak, the companies have altered their annual budgets and preferences to get through during this pandemic. Also, companies across the world are financing heavily to continue operations. Governments are distributing financial packages to assist businesses during this pandemic, with a special concentration on SMEs. The COVID-19 pandemic has also boosted adoption across industry verticals as users move to leverage advantages, such as expansion and less cost. Despite the global economic slowdown, around 50% of subscription companies are expanding at a similar pace without any negative influence due to the COVID-19 pandemic.
Coated Abrasives Market Dynamics
The global Coated Abrasives Market Growth is aimed to capture a total CAGR of 6.3% during the estimated period (2017-2022) as the coated abrasives continue to be the most important industrial tool. Industries such as metalworking, aerospace & defense, different semiconductor are some of the major end-users of coated abrasives. The superior performance capacity of definitely coated abrasives enables usages in metal and alloy modeling processes or mechanisms. Also along with, the recently developed performance of the worldwide manufacturing sector is also pushing market growth. The current market outlook towards the several coated abrasives industry remains positive, with at least minimum deviation foreseen in the middle of the projected period.
Different factors are focusing on boosting Coated Abrasives market share, including factors like continuous global economic development, rising consumer spending, expanding urban population, rising investments, rise in recreational operations. Besides, huge investments in research and development activities to improve efficiency and enhance the performance of screen protectors through innovative solutions, higher quality and outputs, reduced breakages, increased phone efficiency, and increasing establishment of major brands are also bolstering the growth as found in Coated Abrasives Market Report.
The Coated Abrasives Market Share industry is characterized by the semiconductor manufacturing explosion and is observed as a main growth factor for the market. The IoT explosion has proved an impetus to the varied semiconductor industry; most of the advanced electronic devices consist of varieties of semiconductors. In countries like China, Japan and Taiwan are the original flag-bearers of semiconductor manufacturing that accounts for a notable share of the worldwide supply, which also makes them prior markets for main coated abrasives. During the original assessment period, main emerging markets are estimated to remain the basic investment harbor for market players owing to the ongoing recent industrial boom.
Increasing demand for latest Coated Abrasives owing to less cost is projected to drive the major demand for the industry. Also along with, growing product design, mega innovations that lead the maximum customer experience are expected to boost the market growth within very little time.
There are many benefits of this solution; however, there are plenty of limitations associated with costs and overhead. The demand for Coated Abrasives Market Forecast for better infrastructure and a stable market is very strong; however, organizations in developing countries face rigorous issues with their infrastructure. Furthermore, there is a growing demand for regular and management of the system to ensure high reliability, as these smartphone solutions are crucial. The immense expenditure of installation and essential activities is estimated to act as a challenge for vendors operating in the global market.
The Coated Abrasives Market segment is projected to witness growth owing to its increasing demand from the low-income categories. In addition, consumers are showing interest in buying more. Moreover, the essential demand is expected to keep stagnant because of the relatively better price of the product. Because of increasing demand for low-price advanced and premium technology-based, the product is estimated to drive the segment in the years to come. In addition, the industry is expected to reap the benefit of rising demand for latest products by the consumers. Also along with, rising demand for locally manufactured latest product is expected to huge positive impact the demand.
The requirement for this vast concept has risen because companies are conscious now. The different Asian and North American major countries are focusing on spreading the production to meet the given targets and deal with innovative technologies effectively.
The Global Coated Abrasives Market is impressive; famous companies are manufacturing it. It is a modern concept. Unbelievably high in demand, super low-slung looks that can give the consumer a unique experience. The best products provide a perfect construction, thus, has offered less strain on the demand
By Sales Channel
The companies are creating new avenues, and this concept of coating is gaining momentum. The processes are dynamic now, so the concept is evolving every day. To meet the global supply chain and latest technology services criteria, the major companies are getting agreement to grow and work together. Organizations that are active in the making of different launches an advanced solution sanctioning that can proactively change the functions.
On the basis of division of Type
On the basis of division of Application
Coated Abrasives Market Regional Analysis
On the basis of division of Region
As per MRFR analysis, the entire region of Asia Pacific dominated the Global Coated Abrasives Global Market and has registered the largest share of the market in the year 2016. The Asia Pacific market is again followed by countries like Europe and North America. Moreover, Asia Pacific Coated Abrasives Market is huge and will witness major growth during the estimated period with a rising concentration of end-user segments for real Coated Abrasives in the global region coupled with a major expansion of primary producers of real coated abrasives in the region such as Saint-Gobain and 3M. Over the estimated period, the regions of Middle East & Africa are projected to offer several lucrative opportunities for coated abrasives because of the new construction latest activities in the region and carrying trend of industry bifurcation to non-oil manufacturing advanced sectors, with respect to major declining crude oil prices.
Coated Abrasives Market Recent Developments
The most natural abrasives segment is estimated to register a lucrative CAGR due to demand from several parts of North American and European countries.
Different Metal fabrication is projected to grow real terms of volume over the estimated period to decrease the manufacturing cost.
In case of Revenue, the different bonded segments can hold a market share of 50.3% in 2018 because of growing demand for better precision grinding in several automotive industries of different regions of Asia Pacific and North America.
Asia Pacific is projected to register the biggest CAGR during the coming next seven years varied abrasives market, because of increasing infrastructural activities and expansion in the manufacturing segment of the different developing countries in the world region
In March 2018, the world's most famous company Bosch developed a two-step grinding advanced structure for angle grinders. It includes an SCM disc, which is allocated to achieve fine surface area.
Coated Abrasives Market Report Overview
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and The Middle East & Africa (MEA), Latin America|
|Key Vendors||Saint-Gobain Abrasives, Inc., 3M, Fujimi Incorporated, TYROLIT Group, Asahi Diamond Industrial Co., Ltd, Cabot Microelectronics Corporation, Jason Incorporated, Robert Bosch GmbH, Schaffner Manufacturing Company, Inc., DEERFOS Co., Ltd., Sia Abrasives Industries AG, Carborundum Universal Limited, DowDuPont, Inc., VSM Abrasives Corporation, Napoleon Abrasives S.P.A, Hermes Schleifmittel GmbH, Sungold Abrasives, Fandeli International Corporation, Schaffner Manufacturing Company Inc|
|Key Market Opportunities||The semiconductor manufacturing explosion and is observed as a main growth factor for the market.|
|Key Market Drivers||Industries such as metalworking, aerospace & defense, different semiconductor are some of the major end-users of coated abrasives.|
Frequently Asked Questions (FAQ) :
The global coated abrasives market is touted to expand at 6.1% CAGR from 2019 to 2025.
The expansion of semiconductor and electronics sectors is one of the biggest drivers of the global coated abrasives market.
High costs of storage of raw materials is a challenge faced by the global coated abrasives market.
Online sales channels is a new distribution channel driving the global coated abrasives market.
The APAC is the best-performing region of the global coated abrasives market owing to rapid industrialization.
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.
1 Report Prologue
2 Market Introduction
2.2 Scope of the Study
2.3 List of Assumptions
2.5 Market Structure
2.6 Key Takeaways
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
5 Market Dynamics
5.2.1 Increasing demand for coated abrasive across the metalworking industry in versatile applications
5.2.2 Surge in Automotive Production Coupled With Increasing Use Of Coated Abrasives in the Surface Treatment Applications
5.2.3 Demand for coated abrasives in the woodworking applications coupled with growth in furniture industry
5.2.4 Growth in electronics and semiconductors sector to augment coated abrasives demand
5.3.1 Availability of substitutes for coated abrasives to impede market growth
5.3.2 Huge expense for storage and freight of raw materials used in coated abrasives
5.3.3 Stringent environmental regulations on residues challenging market growth
5.4.1 Increasing sales of Tier 1 company coated abrasives through E-commerce
5.4.2 Surge in use of coated abrasives in precision grinding and technologically advanced products for different end-users
5.4.3 Adoption of CVD (Chemical Vapor Deposition) technology in coated abrasive manufacturing
5.5.1 Increasing use of abrasive as surface cleaning and preparation for coatings
5.5.2 Rise in disposable income coupled with increased spending on consumer electronics
5.5.3 Significant spending on personal healthcare to add value to global coated abrasives market
6 Market Factor Analysis
6.1 Supply Chain Analysis
6.1.1 Raw Material Suppliers
6.1.2 Coated Abrasives Manufacturers
6.1.3 Distribution Channel
6.1.4 End-User Industry
6.2 Porter’5 Analysis
6.2.1 The Threat of New Entrants
6.2.2 Threat of Rivalry
6.2.3 Threat of Substitute
6.2.4 Bargaining Power of Supplier
6.2.5 Bargaining Power of Buyer
6.3 Market Pricing Analysis & Forecast
6.4 Net Trade Analysis
6.4.1 Export Analysis
6.4.2 Import Analysis
7 Global Coated Abrasives Market, By Type
7.2 Aluminium Oxide
7.3 Silicon Carbide
7.4 Zirconia Aluminium oxide
7.5 Ceramic Aluminium oxide
8 Global Coated Abrasives Market, By Backing Material
8.2.1 "J" Weight
8.2.2 "X" Weight
8.2.3 "H" Weight
8.3.1 "A" Weight
8.3.2 "C" and "D" Weights
8.3.3 "E" and “F” Weight
9 Global Coated Abrasives Market, By Application
9.3 Metal Working
9.5 Electronic & Semiconductors
9.6 Aerospace & Defense
10 Global Coated Abrasives Market, By Region
10.2 North America
10.2.1 PESTL Analysis
10.3.1 PESTL Analysis
10.3.7 Rest of Europe
10.4 Asia Pacific
10.4.1 PESTL Analysis
10.4.5 Rest of Asia Pacific
10.5 Latin America
10.5.1 PESTL Analysis
10.5.4 Rest of Latin America
10.6 Middle East and Africa
10.6.1 PESTL Analysis
10.6.4 North Africa
10.6.5 Rest of Middle East and Africa
11 Competitive Landscape
11.2 Market Strategy Analysis
11.3 Key Developments of Market Players
12 Company Profiles
12.1 Saint-Gobain Abrasives, Inc.
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products Offerings
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.1.6 Key Strategy
12.2.1 Company Overview
12.2.2 Financial Overview
12.2.3 Products Offerings
12.2.4 Key Developments
12.2.5 SWOT Analysis
12.2.6 Key Strategy
12.3 Fujimi Incorporated
12.3.1 Company Overview
12.3.2 Financial Overview
12.3.3 Products Offerings
12.3.4 Key Developments
12.3.5 SWOT Analysis
12.3.6 Key Strategy
12.4 TYROLIT group
12.4.1 Company Overview
12.4.2 Financial Overview
12.4.3 Products Offerings
12.4.4 Key Developments
12.4.5 SWOT Analysis
12.4.6 Key Strategy
12.5 Asahi Diamond Industrial Co., Ltd
12.5.1 Company Overview
12.5.2 Financial Overview
12.5.3 Products Offerings
12.5.4 Key Developments
12.5.5 SWOT Analysis
12.5.6 Key Strategy
12.6 Cabot Microelectronics Corporation
12.6.1 Company Overview
12.6.2 Financial Overview
12.6.3 Products Offerings
12.6.4 Key Developments
12.6.5 SWOT Analysis
12.6.6 Key Strategy
12.7 Jason Incorporated
12.7.1 Company Overview
12.7.2 Financial Overview
12.7.3 Products Offerings
12.7.4 Key Developments
12.7.5 SWOT Analysis
12.7.6 Key Strategy
12.8 Robert Bosch GmbH
12.8.1 Company Overview
12.8.2 Financial Overview
12.8.3 Products Offerings
12.8.4 Key Developments
12.8.5 SWOT Analysis
12.8.6 Key Strategy
12.9 Schaffner Manufacturing Company, Inc.
12.9.1 Company Overview
12.9.2 Financial Overview
12.9.3 Products Offerings
12.9.4 Key Developments
12.9.5 SWOT Analysis
12.9.6 Key Strategy
12.10 DEERFOS Co., Ltd.
12.10.1 Company Overview
12.10.2 Financial Overview
12.10.3 Products Offerings
12.10.4 Key Developments
12.10.5 SWOT Analysis
12.10.6 Key Strategy
12.11 sia Abrasives Industries AG
12.11.1 Company Overview
12.11.2 Financial Overview
12.11.3 Products Offerings
12.11.4 Key Developments
12.11.5 SWOT Analysis
12.11.6 Key Strategy
12.12 Carborundum Universal Limited
12.12.1 Company Overview
12.12.2 Financial Overview
12.12.3 Products Offerings
12.12.4 Key Developments
12.12.5 SWOT Analysis
12.12.6 Key Strategy
12.13 DowDuPont, Inc.
12.13.1 Company Overview
12.13.2 Financial Overview
12.13.3 Products Offerings
12.13.4 Key Developments
12.13.5 SWOT Analysis
12.13.6 Key Strategy
12.14 VSM Abrasives Corporation
12.14.1 Company Overview
12.14.2 Financial Overview
12.14.3 Products Offerings
12.14.4 Key Developments
12.14.5 SWOT Analysis
12.14.6 Key Strategy
12.15 Napoleon Abrasives S.p.a
12.15.1 Company Overview
12.15.2 Financial Overview
12.15.3 Products Offerings
12.15.4 Key Developments
12.15.5 SWOT Analysis
12.15.6 Key Strategy
12.16 Hermes Schleifmittel GmbH
12.16.1 Company Overview
12.16.2 Financial Overview
12.16.3 Products Offerings
12.16.4 Key Developments
12.16.5 SWOT Analysis
12.16.6 Key Strategy
12.17 Sungold Abrasives
12.17.1 Company Overview
12.17.2 Financial Overview
12.17.3 Products Offerings
12.17.4 Key Developments
12.17.5 SWOT Analysis
12.17.6 Key Strategy
12.18 Fandeli International Corporation
12.18.1 Company Overview
12.18.2 Financial Overview
12.18.3 Products Offerings
12.18.4 Key Developments
12.18.5 SWOT Analysis
12.18.6 Key Strategy
12.19 Schaffner Manufacturing Company Inc
12.19.1 Company Overview
12.19.2 Financial Overview
12.19.3 Products Offerings
12.19.4 Key Developments
12.19.5 SWOT Analysis
12.19.6 Key Strategy
13.1 Key Findings
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.