Bonded Abrasives Market 2021-2031: Market Share and Forecast
The Bonded Abrasives Market is expected to register a CAGR of 5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by application (precision grinding, rough grinding, cutting, polishing and others). The report further presents analysis based on end use industry (automotive, aerospace, construction, marine and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Bonded Abrasives Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Bonded Abrasives Market Segmentation
Application- Precision Grinding
- Rough Grinding
- Cutting
- Polishing and Others
- Automotive
- Aerospace
- Construction
- Marine and Others
Strategic Insights
Bonded Abrasives Market Growth Drivers- Rapid growth of construction industry: The bonded abrasives market is driven by the rapid growth of construction activities, especially in emerging economies. These abrasives are used primarily for grinding, lapping, and finishing various surfaces in construction materials. The growth in the infrastructure development with a comprehensive approach toward high efficiency and precision in construction activities is one of the key drivers for the market growth.
- High demand from automotive industry: The automotive industry is utilizes bonded abrasives in manufacturing and maintenance processes. Abrasives have a critical role in machining, polishing, and finishing of automotive parts to attain desirable quality surface finishes and dimensional accuracies. Innovations and growth in the automotive industry, especially through electric cars, boost the demand for bonded abrasives.
- Incraesing use in metalworking industry: Bonded abrasives have significant use in the metalworking industry, as they can be used for cutting, grinding, as well as polishing the metal surface. Precision-engineered metal components in aviation, and machinery, thereby driving the market growth.
- Increasing construction activities within emerging economies: The demand for bonded abrasives is expected to rise due to increasing construction activities within emerging economies. As infrastructure development accelerates, More bonded abrasives are consumed in cutting, grinding, and finishing applications.
- Manufacturing innovations: Manufacturers are using advanced technology to optimize their production of bonded abrasives. Besides, manufacturers focus on developing efficient bonded abrasives and minimizing production costs. Thus, with competing prices, manufacturers can meet this high demand.
- Technological innovation and supply chain resilience: Manufacturers in the bonded abrasives market create more robust supply chains, by diversifying the suppliers and increasing the percentage of local sourcing, reducing the risk of international logistics. Strengthening the local supply chains would provide a more reliable supply chain for raw materials, lower lead times, and help companies be more operationally efficient. These trends indicate an emerging landscape in the bonded abrasives market, facilitated by growth in construction, technological innovation, and supply chain resilience.
- Research and development activities: Research on advanced material development for bonded abrasives includes work on ceramic and diamond composites to develop high-performance products. Such technologies can come forward with harder, longer-lasting, and wear-resistant abrasives, which may be launched commercially for the automotive and aerospace industries that need applications of precise and durable manufacture.
- Development of customized bonded abrasives: The market will also focus on customized bonded abrasives for specific applications like metal fabrication, woodworking, and electronics. Research into specific formulations and designs may lead to product launches that can meet the needs of different sectors, improving grinding, lapping, and polishing operations and attract customers.
- Green and sustainable manufacturing practices: Product development processes using products constructed from recycled materials or with less environmental impact can share much success in the launch of products. Companies adopting this sustainability shall optimize their market position and attract consumers focused on global trends toward green and sustainable manufacturing practices.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bonded Abrasives Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Bonded Abrasives Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Adoption of digital manufacturing technologies is expected to be the key market trends
Based on application, the precision grinding segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the bonded abrasives market due to rapidly growing construction activities and industrial applications in emerging economies of the region
Increasing demand in manufacturing and metalworking and technological innovations in abrasives is driving the market growth
Saint-Gobain; Sia Abrasives Industries AG; 3M Co; NIPPON RESIBON CORPORATION; SAK Abrasives Limited are some of the key players operating in the bonded abrasives market
The Bonded Abrasives Market is estimated to witness a CAGR of 5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bonded Abrasives Market - By Application
1.3.2 Bonded Abrasives Market - By End-Use Industry
1.3.3 Bonded Abrasives Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BONDED ABRASIVES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. BONDED ABRASIVES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BONDED ABRASIVES MARKET - GLOBAL MARKET ANALYSIS
6.1. BONDED ABRASIVES - GLOBAL MARKET OVERVIEW
6.2. BONDED ABRASIVES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BONDED ABRASIVES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. PRECISION GRINDING
7.3.1. Overview
7.3.2. Precision Grinding Market Forecast and Analysis
7.4. ROUGH GRINDING
7.4.1. Overview
7.4.2. Rough Grinding Market Forecast and Analysis
7.5. CUTTING
7.5.1. Overview
7.5.2. Cutting Market Forecast and Analysis
7.6. POLISHING
7.6.1. Overview
7.6.2. Polishing Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. BONDED ABRASIVES MARKET - REVENUE AND FORECASTS TO 2028 - END-USE INDUSTRY
8.1. OVERVIEW
8.2. END-USE INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. AEROSPACE
8.4.1. Overview
8.4.2. Aerospace Market Forecast and Analysis
8.5. CONSTRUCTION
8.5.1. Overview
8.5.2. Construction Market Forecast and Analysis
8.6. MARINE
8.6.1. Overview
8.6.2. Marine Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. BONDED ABRASIVES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Bonded Abrasives Market Overview
9.1.2 North America Bonded Abrasives Market Forecasts and Analysis
9.1.3 North America Bonded Abrasives Market Forecasts and Analysis - By Application
9.1.4 North America Bonded Abrasives Market Forecasts and Analysis - By End-Use Industry
9.1.5 North America Bonded Abrasives Market Forecasts and Analysis - By Countries
9.1.5.1 United States Bonded Abrasives Market
9.1.5.1.1 United States Bonded Abrasives Market by Application
9.1.5.1.2 United States Bonded Abrasives Market by End-Use Industry
9.1.5.2 Canada Bonded Abrasives Market
9.1.5.2.1 Canada Bonded Abrasives Market by Application
9.1.5.2.2 Canada Bonded Abrasives Market by End-Use Industry
9.1.5.3 Mexico Bonded Abrasives Market
9.1.5.3.1 Mexico Bonded Abrasives Market by Application
9.1.5.3.2 Mexico Bonded Abrasives Market by End-Use Industry
9.2. EUROPE
9.2.1 Europe Bonded Abrasives Market Overview
9.2.2 Europe Bonded Abrasives Market Forecasts and Analysis
9.2.3 Europe Bonded Abrasives Market Forecasts and Analysis - By Application
9.2.4 Europe Bonded Abrasives Market Forecasts and Analysis - By End-Use Industry
9.2.5 Europe Bonded Abrasives Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Bonded Abrasives Market
9.2.5.1.1 Germany Bonded Abrasives Market by Application
9.2.5.1.2 Germany Bonded Abrasives Market by End-Use Industry
9.2.5.2 France Bonded Abrasives Market
9.2.5.2.1 France Bonded Abrasives Market by Application
9.2.5.2.2 France Bonded Abrasives Market by End-Use Industry
9.2.5.3 Italy Bonded Abrasives Market
9.2.5.3.1 Italy Bonded Abrasives Market by Application
9.2.5.3.2 Italy Bonded Abrasives Market by End-Use Industry
9.2.5.4 United Kingdom Bonded Abrasives Market
9.2.5.4.1 United Kingdom Bonded Abrasives Market by Application
9.2.5.4.2 United Kingdom Bonded Abrasives Market by End-Use Industry
9.2.5.5 Russia Bonded Abrasives Market
9.2.5.5.1 Russia Bonded Abrasives Market by Application
9.2.5.5.2 Russia Bonded Abrasives Market by End-Use Industry
9.2.5.6 Rest of Europe Bonded Abrasives Market
9.2.5.6.1 Rest of Europe Bonded Abrasives Market by Application
9.2.5.6.2 Rest of Europe Bonded Abrasives Market by End-Use Industry
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Bonded Abrasives Market Overview
9.3.2 Asia-Pacific Bonded Abrasives Market Forecasts and Analysis
9.3.3 Asia-Pacific Bonded Abrasives Market Forecasts and Analysis - By Application
9.3.4 Asia-Pacific Bonded Abrasives Market Forecasts and Analysis - By End-Use Industry
9.3.5 Asia-Pacific Bonded Abrasives Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Bonded Abrasives Market
9.3.5.1.1 Australia Bonded Abrasives Market by Application
9.3.5.1.2 Australia Bonded Abrasives Market by End-Use Industry
9.3.5.2 China Bonded Abrasives Market
9.3.5.2.1 China Bonded Abrasives Market by Application
9.3.5.2.2 China Bonded Abrasives Market by End-Use Industry
9.3.5.3 India Bonded Abrasives Market
9.3.5.3.1 India Bonded Abrasives Market by Application
9.3.5.3.2 India Bonded Abrasives Market by End-Use Industry
9.3.5.4 Japan Bonded Abrasives Market
9.3.5.4.1 Japan Bonded Abrasives Market by Application
9.3.5.4.2 Japan Bonded Abrasives Market by End-Use Industry
9.3.5.5 South Korea Bonded Abrasives Market
9.3.5.5.1 South Korea Bonded Abrasives Market by Application
9.3.5.5.2 South Korea Bonded Abrasives Market by End-Use Industry
9.3.5.6 Rest of Asia-Pacific Bonded Abrasives Market
9.3.5.6.1 Rest of Asia-Pacific Bonded Abrasives Market by Application
9.3.5.6.2 Rest of Asia-Pacific Bonded Abrasives Market by End-Use Industry
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Bonded Abrasives Market Overview
9.4.2 Middle East and Africa Bonded Abrasives Market Forecasts and Analysis
9.4.3 Middle East and Africa Bonded Abrasives Market Forecasts and Analysis - By Application
9.4.4 Middle East and Africa Bonded Abrasives Market Forecasts and Analysis - By End-Use Industry
9.4.5 Middle East and Africa Bonded Abrasives Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Bonded Abrasives Market
9.4.5.1.1 South Africa Bonded Abrasives Market by Application
9.4.5.1.2 South Africa Bonded Abrasives Market by End-Use Industry
9.4.5.2 Saudi Arabia Bonded Abrasives Market
9.4.5.2.1 Saudi Arabia Bonded Abrasives Market by Application
9.4.5.2.2 Saudi Arabia Bonded Abrasives Market by End-Use Industry
9.4.5.3 U.A.E Bonded Abrasives Market
9.4.5.3.1 U.A.E Bonded Abrasives Market by Application
9.4.5.3.2 U.A.E Bonded Abrasives Market by End-Use Industry
9.4.5.4 Rest of Middle East and Africa Bonded Abrasives Market
9.4.5.4.1 Rest of Middle East and Africa Bonded Abrasives Market by Application
9.4.5.4.2 Rest of Middle East and Africa Bonded Abrasives Market by End-Use Industry
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Bonded Abrasives Market Overview
9.5.2 South and Central America Bonded Abrasives Market Forecasts and Analysis
9.5.3 South and Central America Bonded Abrasives Market Forecasts and Analysis - By Application
9.5.4 South and Central America Bonded Abrasives Market Forecasts and Analysis - By End-Use Industry
9.5.5 South and Central America Bonded Abrasives Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Bonded Abrasives Market
9.5.5.1.1 Brazil Bonded Abrasives Market by Application
9.5.5.1.2 Brazil Bonded Abrasives Market by End-Use Industry
9.5.5.2 Argentina Bonded Abrasives Market
9.5.5.2.1 Argentina Bonded Abrasives Market by Application
9.5.5.2.2 Argentina Bonded Abrasives Market by End-Use Industry
9.5.5.3 Rest of South and Central America Bonded Abrasives Market
9.5.5.3.1 Rest of South and Central America Bonded Abrasives Market by Application
9.5.5.3.2 Rest of South and Central America Bonded Abrasives Market by End-Use Industry
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BONDED ABRASIVES MARKET, KEY COMPANY PROFILES
11.1. SAINT-GOBAIN
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BUFFALO ABRASIVES INC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. 3M
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. MARROSE ABRASIVES
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ABRASIVES MANHATTAN, SA
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GRINDING TECHNIQUES (PTY) LTD
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. SAK ABRASIVES LIMITED
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SIA ABRASIVES INDUSTRIES AG
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. FLEXOVIT
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. NIPPON RESIBON CORPORATION
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Saint-Gobain
2. Buffalo Abrasives Inc
3. 3M
4. Marrose Abrasives
5. Abrasives Manhattan, SA
6. Grinding Techniques (Pty) Ltd
7. SAK Abrasives Limited
8. Sia Abrasives Industries AG
9. Flexovit
10. NIPPON RESIBON CORPORATION
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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