Steel Abrasive Market SWOT Analysis by 2031
MARKET INTRODUCTION Shejal Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Steel abrasives are basically steel particles that are used for abrasive or peening media. These particles have a high carbon content and can be used in various industries for grinding, abrading, scouring, cleaning the hard surface, polishing, and removing solid materials by the action of rubbing. Steel abrasives are mostly available in two different shapes such as shot and grit.
MARKET DYNAMICS
Rapid industrialization along with an expansion of automotive production is driving the demand for the steel abrasive market. To decrease environmental issues, automobile manufacturers are manufacturing low-weight products which will emit low carbon dioxide, which is economical and provide superior performance. The abrasive manufacturers are providing steel abrasives for high-quality auto components along with a polished surface finish which is driving the steel abrasive market.
MARKET SCOPE
The "Global Steel Abrasive Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the steel abrasive market with detailed market segmentation by shape, application, and geography. The global steel abrasive market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steel abrasive market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Global Steel Abrasive Market is segmented based on shape and application. Based on shape, the market is segmented into steel shot and steel grit. Based on application, the market is segmented into construction, automotive, industrial equipment, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel abrasive market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel abrasive market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the steel abrasive market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel abrasive market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steel abrasive market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The steel abrasive market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the steel abrasive market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the steel abrasive market in these regions.
MARKET PLAYERS
The report covers key developments in the steel abrasive market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from steel abrasive market are anticipated to witness lucrative growth opportunities in the future with the rising demand for steel abrasive in the global market. Below mentioned is the list of few companies engaged in the steel abrasive market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the steel abrasive market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- - Abrasive Products, LLC
- - Composition Materials Co., Inc.
- - Ervin Industries
- - Finishing Systems, Inc.
- - Klingspor India Pvt. Ltd.
- - Kramer Industries Inc.
- - Peerless Metal Powder & Abrasives Company
- - Rapid Prep
- - Timed Designs, Inc
- - Winoa
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Steel Abrsaive Market - By Shape
1.3.2 Steel Abrsaive Market - By Application
1.3.3 Steel Abrsaive Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. STEEL ABRSAIVE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. STEEL ABRSAIVE 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. STEEL ABRSAIVE MARKET - GLOBAL MARKET ANALYSIS
6.1. STEEL ABRSAIVE - GLOBAL MARKET OVERVIEW
6.2. STEEL ABRSAIVE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. STEEL ABRSAIVE MARKET - REVENUE AND FORECASTS TO 2028 - SHAPE
7.1. OVERVIEW
7.2. SHAPE MARKET FORECASTS AND ANALYSIS
7.3. STEEL SHOT
7.3.1. Overview
7.3.2. Steel Shot Market Forecast and Analysis
7.4. STEEL GRIT
7.4.1. Overview
7.4.2. Steel Grit Market Forecast and Analysis
8. STEEL ABRSAIVE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CONSTRUCTION
8.3.1. Overview
8.3.2. Construction Market Forecast and Analysis
8.4. AUTOMOTIVE
8.4.1. Overview
8.4.2. Automotive Market Forecast and Analysis
8.5. INDUSTRIAL EQUIPMENT
8.5.1. Overview
8.5.2. Industrial Equipment Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. STEEL ABRSAIVE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Steel Abrsaive Market Overview
9.1.2 North America Steel Abrsaive Market Forecasts and Analysis
9.1.3 North America Steel Abrsaive Market Forecasts and Analysis - By Shape
9.1.4 North America Steel Abrsaive Market Forecasts and Analysis - By Application
9.1.5 North America Steel Abrsaive Market Forecasts and Analysis - By Countries
9.1.5.1 United States Steel Abrsaive Market
9.1.5.1.1 United States Steel Abrsaive Market by Shape
9.1.5.1.2 United States Steel Abrsaive Market by Application
9.1.5.2 Canada Steel Abrsaive Market
9.1.5.2.1 Canada Steel Abrsaive Market by Shape
9.1.5.2.2 Canada Steel Abrsaive Market by Application
9.1.5.3 Mexico Steel Abrsaive Market
9.1.5.3.1 Mexico Steel Abrsaive Market by Shape
9.1.5.3.2 Mexico Steel Abrsaive Market by Application
9.2. EUROPE
9.2.1 Europe Steel Abrsaive Market Overview
9.2.2 Europe Steel Abrsaive Market Forecasts and Analysis
9.2.3 Europe Steel Abrsaive Market Forecasts and Analysis - By Shape
9.2.4 Europe Steel Abrsaive Market Forecasts and Analysis - By Application
9.2.5 Europe Steel Abrsaive Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Steel Abrsaive Market
9.2.5.1.1 Germany Steel Abrsaive Market by Shape
9.2.5.1.2 Germany Steel Abrsaive Market by Application
9.2.5.2 France Steel Abrsaive Market
9.2.5.2.1 France Steel Abrsaive Market by Shape
9.2.5.2.2 France Steel Abrsaive Market by Application
9.2.5.3 Italy Steel Abrsaive Market
9.2.5.3.1 Italy Steel Abrsaive Market by Shape
9.2.5.3.2 Italy Steel Abrsaive Market by Application
9.2.5.4 United Kingdom Steel Abrsaive Market
9.2.5.4.1 United Kingdom Steel Abrsaive Market by Shape
9.2.5.4.2 United Kingdom Steel Abrsaive Market by Application
9.2.5.5 Russia Steel Abrsaive Market
9.2.5.5.1 Russia Steel Abrsaive Market by Shape
9.2.5.5.2 Russia Steel Abrsaive Market by Application
9.2.5.6 Rest of Europe Steel Abrsaive Market
9.2.5.6.1 Rest of Europe Steel Abrsaive Market by Shape
9.2.5.6.2 Rest of Europe Steel Abrsaive Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Steel Abrsaive Market Overview
9.3.2 Asia-Pacific Steel Abrsaive Market Forecasts and Analysis
9.3.3 Asia-Pacific Steel Abrsaive Market Forecasts and Analysis - By Shape
9.3.4 Asia-Pacific Steel Abrsaive Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Steel Abrsaive Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Steel Abrsaive Market
9.3.5.1.1 Australia Steel Abrsaive Market by Shape
9.3.5.1.2 Australia Steel Abrsaive Market by Application
9.3.5.2 China Steel Abrsaive Market
9.3.5.2.1 China Steel Abrsaive Market by Shape
9.3.5.2.2 China Steel Abrsaive Market by Application
9.3.5.3 India Steel Abrsaive Market
9.3.5.3.1 India Steel Abrsaive Market by Shape
9.3.5.3.2 India Steel Abrsaive Market by Application
9.3.5.4 Japan Steel Abrsaive Market
9.3.5.4.1 Japan Steel Abrsaive Market by Shape
9.3.5.4.2 Japan Steel Abrsaive Market by Application
9.3.5.5 South Korea Steel Abrsaive Market
9.3.5.5.1 South Korea Steel Abrsaive Market by Shape
9.3.5.5.2 South Korea Steel Abrsaive Market by Application
9.3.5.6 Rest of Asia-Pacific Steel Abrsaive Market
9.3.5.6.1 Rest of Asia-Pacific Steel Abrsaive Market by Shape
9.3.5.6.2 Rest of Asia-Pacific Steel Abrsaive Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Steel Abrsaive Market Overview
9.4.2 Middle East and Africa Steel Abrsaive Market Forecasts and Analysis
9.4.3 Middle East and Africa Steel Abrsaive Market Forecasts and Analysis - By Shape
9.4.4 Middle East and Africa Steel Abrsaive Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Steel Abrsaive Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Steel Abrsaive Market
9.4.5.1.1 South Africa Steel Abrsaive Market by Shape
9.4.5.1.2 South Africa Steel Abrsaive Market by Application
9.4.5.2 Saudi Arabia Steel Abrsaive Market
9.4.5.2.1 Saudi Arabia Steel Abrsaive Market by Shape
9.4.5.2.2 Saudi Arabia Steel Abrsaive Market by Application
9.4.5.3 U.A.E Steel Abrsaive Market
9.4.5.3.1 U.A.E Steel Abrsaive Market by Shape
9.4.5.3.2 U.A.E Steel Abrsaive Market by Application
9.4.5.4 Rest of Middle East and Africa Steel Abrsaive Market
9.4.5.4.1 Rest of Middle East and Africa Steel Abrsaive Market by Shape
9.4.5.4.2 Rest of Middle East and Africa Steel Abrsaive Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Steel Abrsaive Market Overview
9.5.2 South and Central America Steel Abrsaive Market Forecasts and Analysis
9.5.3 South and Central America Steel Abrsaive Market Forecasts and Analysis - By Shape
9.5.4 South and Central America Steel Abrsaive Market Forecasts and Analysis - By Application
9.5.5 South and Central America Steel Abrsaive Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Steel Abrsaive Market
9.5.5.1.1 Brazil Steel Abrsaive Market by Shape
9.5.5.1.2 Brazil Steel Abrsaive Market by Application
9.5.5.2 Argentina Steel Abrsaive Market
9.5.5.2.1 Argentina Steel Abrsaive Market by Shape
9.5.5.2.2 Argentina Steel Abrsaive Market by Application
9.5.5.3 Rest of South and Central America Steel Abrsaive Market
9.5.5.3.1 Rest of South and Central America Steel Abrsaive Market by Shape
9.5.5.3.2 Rest of South and Central America Steel Abrsaive Market by Application
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. STEEL ABRSAIVE MARKET, KEY COMPANY PROFILES
11.1. ABRASIVE PRODUCTS, LLC
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. COMPOSITION MATERIALS CO., 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. ERVIN INDUSTRIES
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. FINISHING SYSTEMS, INC.
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. KLINGSPOR INDIA PVT. LTD.
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. KRAMER INDUSTRIES INC.
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. PEERLESS METAL POWDER AND ABRASIVES COMPANY
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. RAPID PREP
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. TIMED DESIGNS, INC
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. WINOA
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
The List of Companies
1. Abrasive Products, LLC
2. Composition Materials Co., Inc.
3. Ervin Industries
4. Finishing Systems, Inc.
5. Klingspor India Pvt. Ltd.
6. Kramer Industries Inc.
7. Peerless Metal Powder and Abrasives Company
8. Rapid Prep
9. Timed Designs, Inc
10. Winoa
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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