Market Size of Bonded Abrasives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Bonded Abrasives Market Analysis
The bonded abrasives market is projected to register a CAGR of over 5% during the forecast period (2022-2027).
The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, several countries across the world went into lockdown to curb the spreading of the virus. All the construction and manufacturing activities were halted due to supply chain disruptions and labor shortages. This negatively impacted the market. However, the condition is expected to recover in 2021, thereby driving the market studied during the forecast period.
- Over the short term, the rapidly growing construction sector in Emerging Economies is augmenting the growth of the market.
- On the flip side, the pollution in the manufacturing process of bonded abrasives is likely to hinder the market's growth.
- Increasing demand for bonded abrasives for high-speed applications is likely to act as an opportunity for the market.
- The Asia-pacific region is expected to account for the largest share during the forecast period.
Bonded Abrasives Industry Segmentation
Bonded abrasives are a mixture of abrasive grains, fillers, and bonding materials. They are used to remove surface materials such as metal, ceramics, glass, plastics, and paints. These abrasives are used in both grinding wheels and abrasives stones or sticks. The bonded abrasives market is segmented by bond type, application, end-user industry, and geography. By bond type, the market is segmented by vitrified bond, resin bond, rubber bond, and other bond types. By application, the market is segmented by polishing, cutting, grinding, and other applications. By end-user industry, the market is segmented by automotive, marine, aerospace, construction, metal working, and other end-user industries. The report offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of value (USD million).
| Bond Type | |
| Vitrified Bond | |
| Resin Bond | |
| Rubber Bond | |
| Other Bond Types |
| Application | |
| Polishing | |
| Cutting | |
| Grinding | |
| Other Applications |
| End-user Industry | |
| Automotive | |
| Marine | |
| Aerospace | |
| Construction | |
| Metal Working | |
| Others |
| Geography | ||||||||
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Bonded Abrasives Market Size Summary
The bonded abrasives market is poised for significant growth, driven by the expanding construction sector in emerging economies. These abrasives are essential in the construction industry for smoothing and finishing materials, contributing to the demand for residential, commercial, and infrastructural projects. The market experienced a downturn due to the COVID-19 pandemic, which disrupted supply chains and halted manufacturing activities. However, recovery is anticipated, with the Asia-Pacific region expected to dominate the market share. The region's robust construction activities, particularly in China, India, and Southeast Asian countries, are fueled by government initiatives and urbanization trends, which are expected to sustain the demand for bonded abrasives.
Despite the positive outlook, the market faces challenges such as pollution from manufacturing processes, which could impede growth. Nonetheless, the increasing demand for bonded abrasives in high-speed applications presents opportunities for market expansion. The market is characterized by partial consolidation, with major players like 3M, Marrose Abrasives, and Saint-Gobain holding significant positions. Strategic investments, such as Blue Sea Capital's investment in Abrasive Technology, are aimed at accelerating growth in various end markets, including dental, aerospace, and industrial sectors. These dynamics suggest a promising trajectory for the bonded abrasives market over the forecast period.
Bonded Abrasives Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Rapidly Growing Construction Sector in Emerging Economies
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Pollution in the manufacturing process
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Bond Type
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2.1.1 Vitrified Bond
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2.1.2 Resin Bond
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2.1.3 Rubber Bond
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2.1.4 Other Bond Types
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2.2 Application
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2.2.1 Polishing
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2.2.2 Cutting
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2.2.3 Grinding
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2.2.4 Other Applications
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2.3 End-user Industry
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2.3.1 Automotive
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2.3.2 Marine
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2.3.3 Aerospace
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2.3.4 Construction
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2.3.5 Metal Working
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2.3.6 Others
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2.4 Geography
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2.4.1 Asia-Pacific
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2.4.1.1 China
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2.4.1.2 India
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2.4.1.3 Japan
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2.4.1.4 South Korea
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2.4.1.5 ASEAN Countries
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2.4.1.6 Rest of Asia-Pacific
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2.4.2 North America
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2.4.2.1 United States
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2.4.2.2 Canada
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2.4.2.3 Mexico
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2.4.3 Europe
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2.4.3.1 Germany
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2.4.3.2 United Kingdom
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2.4.3.3 Italy
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2.4.3.4 France
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2.4.3.5 Rest of Europe
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East and Africa
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2.4.5.1 Saudi Arabia
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle East and Africa
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Bonded Abrasives Market Size FAQs
What is the current Bonded Abrasives Market size?
The Bonded Abrasives Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Bonded Abrasives Market?
3M, Marrose Abrasives, Saint-Gobain, SAK ABRASIVES LIMITED and Carborundum Universal Limited are the major companies operating in the Bonded Abrasives Market.
