Metal Fabrication segment to dominate India Abrasives Market through FY2027
Increasing expenditure
capacity of the consumers and growing infrastructural developments is expected
to drive the demand for India abrasives market in the forecast period.
According to TechSci Research report, “India
Abrasives Market By Type (Bonded, Coated, and Super) By Material (Natural
and Synthetic) By End-user Industry (Automotive, Metal Fabrication, Machinery,
Electronics, Construction, and Others), By Region, Company Forecast &
Opportunities, FY2027”, The India abrasives market is expected to witness
steady growth in the forecast period. Abrasives are hard materials that find
different applications in technological, industrial, and domestic applications
and can be used to finish or shape a workpiece. Abrasives can be categorized
majorly into two categories including natural abrasives namely pumice, garnet,
emery, corundum, amongst others, and synthetic abrasives namely synthetic
diamond, alumina, silicon carbide, among others. The rise in the development of
the manufacturing sector and the high demand for pre-engineered buildings and
components are contributing to the growth of the abrasives market. High demand
from the prominent end-user industries including agriculture, automotive,
aerospace, medical amongst others are accelerating the growth of the abrasive
market. The increasing growth of the automotive sector is influencing the
demand for abrasives as they are used for various applications such as engine
part sizing, smooth the welds, clean the inside of the pipe, and others. The
development of the molded auto and the engine bodies and the innovation of the
manufacturing robot to streamline the manufacturing process and increase the
overall efficiency of the process has contributed to shifting the demand of the
abrasives market to the mechanic shops, auto parts suppliers, among others. An
increase in the demand of the heavy machinery industry to use in the metal
cutting applications, grinding and the crushing of the mining equipment is
contributing to the rise in the abrasives market growth. Abrasives are also in
high demand from the electrical and electronics industry for slicing and
grinding of the electronic components and several of the hard components such
as silicon, quartz to produce the compact disc and circuit components.
Due to the ongoing pandemic COVID-19, the lockdown was
imposed all over the country. A complete shutdown was observed, and people
started practicing social distancing and started following the precautionary
guidelines. The imposition of strict regulations and policies imposed by the
leading authorities led to the effect that businesses had to suffer huge
losses. Manufacturing units were shut down and the loss of availability of
skilled laborers led to the market decline. The number of units imported or
exported to other countries also suffered a huge loss. After the lifting of
lockdown, companies are expected to be again operational with full production
capacity, and the market is expected to pick up the pace eventually.
However, the rise in raw material costs may hamper the
abrasives market growth in the forecast period.
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India
abrasives market is segmented into type, material, end-user industry, regional
distribution, and company. Based on the type, the market can be divided into bonded,
coated, and super. The bonded segment followed closely by the coated segment is
expected to dominate the abrasives market in the next five years. Bonded
abrasives are made by attaching them with the matrix, which is also called the
binder, and the bonded abrasive can be used to made using the rubber, clay,
resin, or glass. Bonded abrasives consist of the snagging wheels, mounted
wheels, grinding wheels, amongst others owing to their greater operational
capability and their high efficiency.
Carborundum
Universal Ltd, Grindwell Norton Ltd, Wendt India Ltd, Hindustan Abrasives,
Sterling Abrasives Limited, Orient Abrasives Limited, Welcast Steels Ltd, Asahi
Diamond Industrial India Private Limited, Bosch Limited, Henkel Anand India
Private Limited are the leading players operating in India abrasives market. Manufacturers
are increasingly focusing on research and development process to fuel higher
growth in the market. To meet evolving customer demand with respect to better
efficiency and durability, several abrasives manufacturers are coming up with
their technologically advanced offerings.
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“Indian
government is launching several initiatives and schemes to boost and provide
the production-linked incentive to large-scale manufacturing industries and
attract investments for the growth of the mobile phone manufacturing and
consumer electronics industry. Also, the support from the government for the
adoption of the BS-VI norms and the high demand for electric vehicles due to
rising concerns regarding the effect of greenhouse gases into the environment
in addition to high-scale manufacturing of electric vehicles and their charging
stations is expected to propel the abrasives market growth till FY2027” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Abrasives Market
By Type (Bonded, Coated, and Super) By Material (Natural and Synthetic) By
End-user Industry (Automotive, Metal Fabrication, Machinery, Electronics,
Construction, and Others), By Region, Company Forecast & Opportunities,
FY2027” has evaluated the future growth potential of India abrasives
market and provided statistics & information on market size, shares, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of India abrasives market.
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