India Abrasives Market - 2023-2030

India Abrasives Market - 2023-2030

Market Overview

The India abrasives market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 7.90% during the forecast period (2023-2030).

Abrasives typically have a Mohs hardness rating of 7 or greater. These can be created artificially or organically. A common example of an abrasive is diamond, which can be created both artificially and naturally. Corundum and even softer abrasives like calcium carbonate, which is used as a polishing ingredient in items like toothpaste, are additional examples. The printing, paint, and coating sectors as well as other related processes use abrasives to control corrosion. The disparity in hardness among other things affects the rate of abrasion.

Market Dynamics

Growing number of construction projects in India

Abrasives are used in the building and construction sector for demanding tasks such as drilling, grinding, cutting, and polishing. Moreover, abrasives are employed for cutting marble, stone, granite, and reinforced concrete. Consequently, they are incorporated into machine tools such as stone, handheld saws, floor, tiles, core drilling machinery, floor grinders, and power trowels.

According to the Infrastructure and Project Monitoring Division of the Ministry of Statistics and Program Implementation, as of May 2022, the Indian government had 1,559 projects under consideration, totaling US$ 326 billion. In addition, an abundance of infrastructure projects across a number of industries is expected to help the Indian construction industry expand at a 6.2% annual rate. As a result of the aforementioned factors, the expanding building industry is expected to result in an increase in the demand for abrasives in the Indian market.

The volatile prices of raw materials required for producing abrasives

The volatile prices of raw materials required for producing abrasives like silica sand and carbon is a major factor restraining the market growth. The scarcity of natural abrasives in comparison to synthetic replacements, as well as different health risks such as breathing issues and silicosis lung cancer, are also projected to limit market expansion over the forecast period.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The India abrasives market is segmented based on type, material and application.

The growing need for drilling in various end-use verticals such as the construction and automotive manufacturing industries

The India abrasives industry is primarily driven by the drilling segment. Abrasives are substances used to smooth, burnish, and grind surfaces. To remove extra material and smooth the outer layer of the drilled hole, it is frequently used in drilling uses. The expansion of India's manufacturing, automotive, and construction sectors has increased the requirement for abrasives within drilling uses. The Indian abrasives market is anticipated to grow as industries continue to expand, fueling demand for drilling and the use of abrasives in drilling applications. The market growth has been further accelerated by the creation of more effective and efficient abrasive materials as a result of technological advancements.

Competitive Landscape

The major players in the Indian market include Carborundum Universal Ltd, Asahi Diamond Industrial India Private Limited, Grindwell Norton Ltd, Wendt India Ltd, Hindustan Abrasives, Sterling Abrasives Limited, Orient Abrasives Limited, Bosch Limited, Webcast Steels Ltd, and Henkel Anand India Private Limited.

Why Purchase the Report?
• To visualize the India abrasives market segmentation based on type, material and application, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of abrasives market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The India abrasives market report would provide approximately 33 tables, 30 figures and 126 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies