Global Coated Abrasives Market Report and Forecast 2024-2032

Global Coated Abrasives Market Outlook

The global coated abrasives market size reached a value of approximately USD 10.06 billion in 2023. The market is further projected to grow at a CAGR of 6.4% between 2024 and 2032, reaching a value of USD 17.64 billion by 2032.

Key Trends in the Market

Coated abrasives contain a thin layer of abrasive grains attached to a cloth, paper or fibre and are available in the form of sheets, rolls, belts, and discs, among others. They find usage in heavy stock removal, blending, polishing, grinding, cleaning, finishing, and blurring operations.

• Research and development activities are increasing in order to modernise and replace conventional machinery with advanced machinery. This is expected to reduce the production cost and increase the efficiency of coated abrasives, aiding the coated abrasives market growth.

• The demand for coated abrasives from aerospace and automotive sectors is rising owing to their ability to provide high level strength and resistance against tearing and the ability to withstand high pressure.

• Rising environmental concerns are increasing the popularity of sustainable coated abrasive materials. The manufacturers are also adopting eco-friendly practises, resulting in reduced emission and improved waste management.

Market Analysis

Based on product type, the market is divided into super, coated, and bonded. On the basis of application, the market is divided into aerospace, automotive, metal fabrication, electrical and electronics equipment, and machinery, among others. By region, the coated abrasives market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Sia Abrasives Industries AG

• Carborundum Universal Limited

• Nippon Resibon Corporation

• Noritake Co, Limited

• Hermes Schleifwerkzeuge GmbH & Co. KG

• Vereinigte Schmirgel- und Maschinen-Fabriken AG

• Tyrolit – Schleifmittelwerke Swarovski AG & Co K.G

• Others

Market Share by Product Type

The coated segment is anticipated to hold a significant share in the coated abrasives market owing to the extensive use of coated abrasives in grinding, polishing, finishing, and sanding applications. The growing demand from automotive, metal fabrication, and general manufacturing industries is  boosting the demand for the product.

Meanwhile, the bonded segment is expected to grow steadily over the forecast period owing to its increasing applications in industries that require high material removal such as cutting, precision grinding, and sharpening operations.

Market Share by Region

The Asia Pacific is anticipated to account for a significant share in the market owing to the rapid expansion of commercial and residential building sectors in the region. Additionally, rising disposable incomes are allowing more and more individuals to purchase vehicles, thereby supporting the demand for coated abrasives from the automotive sector.

Moreover, the rapid growth of the electronics sector in India and technological transformation from manual to automatic production processes is further boosting the coated abrasives market demand in the region.

Competitive Landscape

Sia Abrasives Industries AG was founded in 1875 and is headquartered in Frauenfeld, Switzerland. The company is known for developing, manufacturing, and supplying innovative abrasive systems to the consumers around the globe.

Carborundum Universal Limited was founded in 1954 and is headquartered in Chennai, India. The company is known for developing abrasives, refractories, machine tools, and ceramics, among other products.

Nippon Resibon Corporation was established in 1958 and has its headquarters located in Osaka, Japan. The company manufactures glass cloth products, cutting wheels, and off set type grindstones, among other related products.

Other major players in the market include Noritake Co, Limited, Hermes Schleifwerkzeuge GmbH & Co. KG, Vereinigte Schmirgel- und Maschinen-Fabriken AG, and Tyrolit – Schleifmittelwerke Swarovski AG & Co K.G, among others.

Key Highlights of the Report