Bonded Abrasives Market Size by Applications, End-Use, Region – Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2029
Overview
The Bonded Abrasives Market was valued US$ 23.76 Bn in 2022 and is expected to reach 35.26 Bn by 2029, at a CAGR of 5.8% during a forecast period.
Bonded Abrasives Market Definition:
Bonded abrasives comprise of abrasive grains held together in a matrix of glass, rubber, resin, and other binders. They are widely recognized to remove surface materials including ceramics, plastics, metal, glass, and paint.
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The report study has analyzed the revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report and the same is reflected in our analysis.
Bonded Abrasives Market Dynamics:
Significant growth in construction industries will increase the demand for bonded abrasive and is a major driving factor for the global market. Abrasives are an essential part of commercial and residential construction and renovation structures. It embraces import applications across the metal industry, aerospace, marine, airports, railways, and manufacturing of such sectors will increase the demand across the globe, is expected to boost the market during the forecast period. Furthermore, the main property of bonding agent which grasps the structural abrasives in a precise range that provides exclusivity to every bonded adhesive.
Though, bond delivers high-strength and thermal-resistance to grinding and cutting. Constant technological advancement and growth in the adoption of machines in the industries over human labor have propelled the demand for targeted types of machinery in the industrial sector. On the other hand, growth in electrical and electronics, metal fabrication, machinery is another factor to boost the market demand in the production of related end-product. The growing use of the bonded abrasives for the removal of rust and dust has amplified the global growth for the market.
Furthermore, major fluctuation in the price of crude oil is expected to hamper the bonded abrasives market by 2029. Cost of the machine is another factor to drop the market demand in coming years.
Bonded Abrasives Market Segment Analysis:
By the end-user segment, the construction sector is expected to dominate the market growth during the forecast period. Construction industry market share managed the overall industry and accounted for more than 50% of the market size in 2022. The use of bonded abrasive is to remove unwanted coarseness/substance thus broadening the demand of the product in terms of polishing. Rubbing is considered another propelling activity of the market for the same segment for molding and smoothening of the surface of the end product. As per institution of civil engineers, the global construction industry is likely to value US$ 6 trillion by 2029, primarily driven by U.S, China, India, and the region.
Bonded Abrasives Market Regional Insights:
Nationally, North America is expected to dominate the market and is expected to grow at a CAGR of xx% during the forecast period. The forthcoming construction industry in the region post-2022 economic recession has positively influenced the product demand. Cumulative remodelling practices and renovation predominantly in the residential construction sector, has pushed the regional product demand in recent years. The occurrence of healthy end-user industries including automotive, metalworking, aerospace sector will increase the high demand for product demand for grinding, cutting, polishing application.
APAC holds the largest market share for bonded abrasives in 2022 after North America and is expected to show a significant growing region during the forecast period. The key reason attributed to the rapid industrialization and thriving automotive and construction industry as these sector widely demand apparatus for cutting, grinding, and polishing thus promoting high consumption of bonded adhesive above mentioned industries will boost the regional market growth.
Developing regions like India, China, and Japan are considered major contributors for the Bonded Abrasives market growth in the Asia Pacific region.
The objective of the report is to present a comprehensive analysis of the Global Bonded Abrasives Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Bonded Abrasives Market dynamics, structure by analysing the market segments and project the Global Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.
Bonded Abrasives Market Scope: Inquire before buying
| Bonded Abrasives Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2017 to 2022 | Market Size in 2022: | US $ 23.76 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 5.8% | Market Size in 2029: | US $ 35.26 Bn. |
| Segments Covered: | by Applications | Precision Grinding Rough Grinding Fabrication Polishing Cutting Others |
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| by End-Use | General Metalworking Automotive Marine Aerospace Construction Others |
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Bonded Abrasives Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Bonded Abrasives Market Key Players
1. NIPPON RESIBON CORPORATION
2. Carborundum Universal Limited
3. Buffalo Abrasives
4. Abrasives Manhattan
5. Marrose Abrasives
6. Grinding Techniques Ltd
7. SAK Abrasives Limited
8. Sia Abrasives Industries AG
9. Flexovit
10.Saint-Gobain
11.3M
12.Bosch GmbH
13.DRONCO GmbH
14.KWH Mirka
15.Fujimi Incorporated
16.ARTIFEX
17.atto Abrasives Limited
18.Buehler
19.Cratex Manufacturing Co.
20.Lowton Abrasive Ltd.
21.Pacer Industries, Inc.
22.August Rüggeberg GmbH & Co. KG
Frequently Asked Questions:
1. Which region has the largest share in Global Bonded Abrasives Market?
Ans: North America region held the highest share in 2022.
2. What is the growth rate of Global Bonded Abrasives Market?
Ans: The Global Bonded Abrasives Market is growing at a CAGR of 5.8% during forecasting period 2023-2029.
3. What is scope of the Global Bonded Abrasives Market report?
Ans: Global Bonded Abrasives Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Bonded Abrasives Market?
Ans: The important key players in the Global Bonded Abrasives Market are – NIPPON RESIBON CORPORATION, Carborundum Universal Limited, Buffalo Abrasives, Abrasives Manhattan, Marrose Abrasives, Grinding Techniques Ltd, SAK Abrasives Limited, Sia Abrasives Industries AG, Flexovit, Saint-Gobain, 3M, Bosch GmbH, DRONCO GmbH, KWH Mirka, Fujimi Incorporated, ARTIFEX, atto Abrasives Limited, and Buehler
5. What is the study period of this Market?
Ans: The Global Bonded Abrasives Market is studied from 2022 to 2029.