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New Product Launch Accounted for the Largest Share of all the Strategic Developments that Took Place in the Abrasives Market

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New Product Launch Accounted for the Largest Share of all the Strategic Developments that Took Place in the Abrasives Market

June 05
20:08 2020
New Product Launch Accounted for the Largest Share of all the Strategic Developments that Took Place in the Abrasives Market

Browse 198 market data Tables and 60 Figures spread through 175 Pages and in-depth TOC on “Abrasives Market”
Abrasives Market by Raw material (Natural & Synthetic), Product type (Coated, Bonded, and Super), End-use Industry (Automotive, Machinery, Aerospace, Metal fabrication, Electrical & electronics equipment, Others), and Region

The global abrasives market size is projected to grow from USD 46.4 billion in 2020 to USD 58.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast year. The market is projected to witness significant growth in the next few years with the growing automotive, metal fabrication, electronics, electrical, medical, and construction industries.  Abrasive is a material or substance such as pumice, sandpaper, or emery, which is used for grinding, cleaning, polishing, and smoothing. Abrasives are used in a wide range of domestic, industrial, and technological applications.

The abrasives market has been dominated by large players, such as Robert Bosch GmbH (Germany), 3M Company (US), Compagnie de Saint-Gobain S.A. (France), Henkel AG & Co. KGaA (Germany), Asahi Diamond Industrial Co., Ltd. (Japan), Fujimi Incorporated (Japan), Ska Industries (India), Carborundum Universal Ltd (India), KREBS & RIEDEL Schleifscheibenfabrik GmbH & Co. KG (Germany), and Deerfos Co., Ltd. (Korea). These players have adopted various growth strategies, such as merger & acquisitions, Contracts & partnerships, new product launch, and expansions to increase their market shares, expand their geographical footprints, and enhance their product portfolios.

To know about the assumptions considered for the study download the pdf brochure 

New Product launch accounted for the largest share of all the strategic developments that took place in the abrasives market between January 2015 and February 2020. Key players, such as Robert Bosh GmbH (Germany) and Saint-Gobain Abrasives (US), have adopted this strategy to strengthen their product portfolio, expand their market share and to exceed their customers’ expectations in the abrasives market.

Robert Bosch GmbH (Germany) held the leading position in the global abrasives market in 2019. The company has maintained its leadership position through its strong distribution network across

Europe and the American markets. Robert Bosch GmbH (Germany) is among the leading manufacturers of abrasives for many of the markets it serves. It adopted a new product launch as its key strategy to capture the market. In March 2018, Bosch extended its new product in the range of abrasives by developing 2 step grinding system for angle grinders that enable higher removal rate and offer finer surfaces. The abrasive product helps in saving time up to 25%. The launch of this product has strengthened the company’s product portfolio.

Sain-Gobain Abrasives (US) is also one of the leading players in the abrasives market, in 2019. The company retained its leadership position through its strong geographical presence and wide customer base across the world. The company adopted various strategies including partnerships, new-product launch, merger, and contract to sustain the leading position in the abrasive market. In May 2018, Saint-Gobain Abrasives renewed its partnerships with Bud Racing Kawasaki (France). This strategy enabled the company to strengthen the company’s customer base and maintain a strong market position.

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