The abrasives market
is anticipated to reach USD 53634 million by 2023. Used to shape or finish a workpiece in a broad spectrum of applications such as industrial, domestic and technological applications
, abrasives are segmented into natural and synthetic broadly.
While corundum, garnet, emery and pumice come under the natural abrasives’ categories, silicon carbide, synthetic diamond, and alumina, come under the synthetic abrasives. Furthermore, abrasives can be bonded or coated. While bonded abrasives are fixed to a matrix, also known as a binder are often made of rubber, clay, resin/glass, coated abrasives are attached to a backing material. These include paper, cloth, resin, polyester or metal.
The abrasives market is classified on the basis of end-user industry, type, and material. On type it is classified into bonded, coated, and super; on material it’s classified into natural and synthetic and on the end-user industry it’s classified into automotive, metal fabrication, machinery, electronics, construction and many others.
One of the industries offering highest market potential is the automotive industry. This is due to increase in per capita disposable incomes and surge in demand for passenger and commercial vehicles mainly in the developing nations such as India. Besides, strict regulatory environment and shift in consumer demand are the other aspects driving its market growth.
Abrasives play a major role in the finishing of vehicles. Bringing the products into a working condition is accomplished by the use of abrasives. Some of the tasks carried out using abrasives include the deburring, repair and maintenance of the body. Others include sizing engine parts, cleaning of accessories and interiors of the automobile.
Heavy machinery is one of the fastest-growing application sectors of the abrasives market. Since it is used largely in applications such as metal cutting, grinding and crushing of mining equipment, etc.