NEW YORK, March 24, 2022 /PRNewswire/ — Bonded Abrasives Market Size Expected to Grow $4.7 billion from 2021 to 2026, progressing at a rate CAGR of 4.62% according to the latest Technavio market report. 69% of market growth will come from APAC during the forecast period. China, Japan, and India are the key markets for the bonded abrasives market in APAC. The growth of the market in this region will be faster than the growth of the market in Europe and North America. The thriving automotive, electronics, general engineering & tools, and construction industries will facilitate the growth of the bonded abrasives market in APAC during the forecast period.
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Bonded Abrasives Market: Increasing Demand For Bonded Abrasives From Automotive Industry To Drive Growth
Increasing demand for bonded abrasives from the automotive industry is one of the key drivers supporting the growth of the bonded abrasives market. Bonded abrasives are popularly used abrasives in the automotive industry. In the transportation industry, coated abrasives are used in finishing and grinding applications. Increased motor vehicle production will drive demand for abrasives during the forecast period. In addition, the growing demand for commercial and passenger vehicles, especially in developing economies such as China and other APAC countries, the consumption of abrasives will increase. Therefore, the growing automotive production in APAC will drive the use of bonded abrasives in vehicle production during the forecast period.
Bonded Abrasives Market: Increasing demand for abrasives in APAC will be a major trend contributing to the growth of the bonded abrasives market
The increasing demand for abrasives in APAC is one of the key trends contributing to the growth of the bonded abrasives market. Increasing consumption of consumer goods such as refrigerators, air conditioners, furniture and decorative wall items will drive the use of bonded abrasives during the forecast period. Factors such as the availability of raw materials and profitable labor and the increase in the gross domestic product of various countries have a positive influence on the bonded abrasives market in APAC. Abrasives are used to polish and finish glass substrates, lenses, and other materials in high-end electronic components and optics-related segments. Therefore, capacity expansions will drive demand for bonded abrasives in APAC during the forecast period.
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Bonded Abrasives Market: Segmentation Analysis
This market research report segments the bonded abrasive market by Final user (General Engineering and Tools, Manufacturing, Automotive, Electronics and Others) and Geography (APAC, Europe, North America, South Americaand the middle East and Africa).
The growth of the market share of bonded abrasives by the general engineering segment and tools will be important for income generation. Bonded abrasives are used to shape various tools for grinding applications. They are applied to tools such as saws, drills, reamers, broaches and milling cutters to keep them sharp. Grinding is a widely used process in bonded abrasive machining used in general engineering and tooling. In general engineering applications, bonded abrasives give tools superior surface finish, dimensional accuracy, and desired shape. Since bonded abrasives are critical in general engineering and tooling applications, the demand for bonded abrasives is expected to increase. Such factors will drive the growth of the segment during the forecast period.
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Scope of the Bonded Abrasives Market
Growth momentum and CAGR
Accelerates to a CAGR of 4.62%
Market growth 2022-2026
YoY growth (%)
Contribution to the real market
Asia-Pacific at 69%
Leading companies, competitive strategies, scope of consumer engagement
Abrasivos Manhattan SA, Andre Abrasive Articles, Ashland Global Holdings Inc., PFERD Inc., Carborundum Universal Ltd., Compagnie de Saint Gobain SA, Great Lakes Minerals, LLC, Hermes Schleifmittel GmbH, Karbosan, KLINGSPOR Abrasives Inc., Lawson Products, Inc. . ., Marrose Abrasives, Master Abrasives Ltd., Mirka Ltd., Orient Group, SAK ABRASIVES Ltd., Sia Abrasives Industries AG, Stanley Black and Decker Inc., US Electrofused Minerals, Inc. and Weiler Abrasives Group
Major market analysis, market growth drivers and obstacles, fast and slow growing segments analysis, impact of COVID 19 and future consumer dynamics, market condition analysis for the forecast period,
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Table of Contents
1. Executive Summary
2 Market Landscape
3 Market size
4 Five Forces Analysis
5 Market Segmentation by End User
6 Customer landscape
7 Geographic Landscape
8 drivers, challenges and trends
9 Provider Landscape
10 Supplier Analysis
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