US and Canada Abrasives Market Size
US and Canada abrasives market is expected to exceed USD 11,900 million by 2030 from USD 7,387.5 million in 2019 at a CAGR of 6.5% throughout the forecast period i.e. 2020-2030.
Abrasives are the frequently used substances across several sectors for cleaning the hard surface, grinding, and polishing. Abrasives assist in delivering surface finishing and shape for the material. They are mineral-like substances present in diverse shapes and sizes varying upon the requirement. They are used to clean, abrade, scour, grind, and remove solid substances by the action of rubbing. Two types of abrasives are present in the regional abrasives market as synthetic and natural. Most of the natural abrasives have been substituted by synthetic abrasives in the abrasives market owing to their constant characteristics as needed in industrial applications. Other than natural diamonds, most of the abrasives are adjustable with their characteristics. One of the keys features an abrasive must hold is stiffness and that it must be tougher than the substance to which is polished, ground, or removed.
Market Highlights
US and Canada abrasives market is expected to project a CAGR of 6.5% during the forecast period, 2020-2030
The market is anticipated to grow on the back of rising demand for abrasives in the automotive sectors.The rise in the application fields of abrasives in metal fabrication and automotive sectors boosts the growth of the market. Also, an increase in the manufacturing of electronic constituents and the highest growth in the utilization of medical tools upsurge market growth. Moreover, an increase in demand for bonded abrasives among the e-commerce sector and mounting applications of abrasives in construction, cleaning, maintenance, power generation, and medical devices are some of the key aspects that fuel the growth of the market.
US and Canada Abrasives Market Opportunity Analysis
US and Canada Abrasives Market: Segments
The Coated Abrasivessegment to grow with the fastest CAGR of xx% during 2020-2030
US and Canada abrasives market is segmented by Product Type into Bonded Abrasives, Coated Abrasives, and Super Abrasives. Among these, the coated abrasives segment is estimated to hold the largest market share of xx% in 2019. Owing to the emphasis on speedy development in evolving economies, and the growth of the metal fabrication sector is estimated to shift the preference of both suppliers and consumers towards abrasive. Furthermore, the rising need for coated abrasives in all end-use sectors is projected to upsurge the growth in the abrasives market.
By Product Type (in %), the US and Canada Abrasives Market, 2019
The Natural Abrasives segment to boost at fastest CAGR of xx% during 2020-2030
US and Canada abrasives market is segmented by Material Type into Natural Abrasives and Synthetic Abrasives. Among these, the natural abrasives segment is witnessed to hold the largest market share of xx% in the year 2019. The large share of the segment is subject to the huge manufacturing cost and less obtainability. The U.S. is a substantial market for natural materials owing to the manufacturing of garnet in the region.
By Material Type (in %), US and Canada Abrasives Market, 2019
The Automotive segment to boost at fastest CAGR of xx% during 2020-2030
US and Canada Abrasives market is segmented by End-use Industries into Automotive (Only Cars), Automotive Aftermarket Service, Construction, Oil & Gas, Petrochemicals, Aerospace, Food Processing, Pharmaceuticals, Transportation Equipment (Except Cars), Metal Fabrication, Mining, Shipyards, Cannabis, and Others. Among these, the automotive segment is witnessed to hold the largest market share of xx% in the year 2019. Abrasives are utilized for several applications such as coarse sanding, lacquer sanding, repair sanding, and polishing. Superabrasives in the form of diamond discs are most likely favored for grinding and polishing. Rising automotive manufacturing is estimated to fuel the utilization of abrasives in the coming years.
US and Canada Abrasives Market: Market Dynamics
Driver
Increasing Demand for Abrasives in the Automotive Sector
There is a necessity to enhance the productivity of automotive to face the working constraint. An automotive in usual comprises several constituents mostly exterior and interior mirrors, plastic constituents, fuel tanks, air ducts, de-aeration tanks, valve springs. It is crucial to sustaining the dimensional exactness of these constituents to fulfill the operational needs. Abrasives are utilized in finishing the operation of the produced constituents of the automotive. Additionally, the development of electric vehicles may carry on acquiring impetus in the coming years, where many government schemes are encouraging a move away from fossil fuels subject to the numerous ecological apprehensions. Based on all these aspects, the market for abrasives is predicted to grow across the region in the coming years.
Restraint
Severe Government Norms
Strict norms and the absence of raw substances obtainability may hinder market growth and sector viability. Abrasive products’ production needs a huge level of raw components. Demand and supply breaks of raw components may raise product costs which may hinder the sector’s price tendencies.
US and Canada Abrasives Market: Regional Analysis
US to surge at the highest CAGR of xx% during 2020-2030
Region-wise, the market for abrasives across the region is segmented into US and Canada. Among these, US is witnessed to constitute xx% of the total market share in the year 2019. This is credited to aspects like the existence of major players and peak customer roots such as aerospace and automotive.
By Region (in %), US and Canada Abrasives Market, 2019
Source: Fatpos Global
US and Canada abrasives market is further segmented by region into:
- United States Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
- Canada Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
US and Canada Abrasives Market: Key Players
- Avery Abrasives Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Extreme Abrasives
- Stanley Black & Decker
- Compagnie de Saint-Gobin
- Hermes Schleifmittel GmbH
- Rapid Abrasives & Accessories Inc.
- Pearl Abrasive
- Carborundum Universal Ltd.
- Robert Bosch GmbH
- Klingspor AG
The market report on US and Canada abrasives also contains the following in-depth analysis:
Abrasives Market Segments:
- By Product Type
- Bonded Abrasives
- Coated Abrasives
- Super Abrasives
- By Material Type
- Natural Abrasives
- Synthetic Abrasives
- By Application
- Cutting
- Sanding
- Grinding
- Blending
- Finishing
- Brushing
- Others
- By End-use Industries
- Automotive (Only Cars)
- Automotive Aftermarket Service
- Construction
- Oil & Gas
- Petrochemicals
- Aerospace
- Food Processing
- Pharmaceuticals
- Transportation Equipment (Except Cars)
- Metal Fabrication
- Mining
- Shipyards
- Cannabis
- Others
- By Region
- US
- Canada
- Abrasives Market Dynamics
- Abrasives Composites Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Frequently Asked Questions (FAQ):
U.S. and Canada Abrasives Market is projected to surpass USD 11.9 billion by 2030 from USD 7.39 billion in 2019, growing at a CAGR of 6.5% during 2020–2030.
Rising demand from the automotive, construction, and metal fabrication industries along with expanding applications in electronics and medical tools are driving market growth.
Coated abrasives lead the market due to their growing usage in metal fabrication, automotive finishing, and industrial maintenance applications.
Abrasives are made from natural and synthetic materials, with synthetic abrasives preferred for their consistency, durability, and precision in industrial use.
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