LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global coated abrasives market report. This research report also lists 28 other prominent vendors that are expected to impact the market during the forecast period.
Some of the key growth factors of the market include the growing demand for coated abrasives for cutting tool applications and for applications in niche end-user industries such as electronics. The market vendors are focusing on introducing new products such as coated abrasives with stearate coating for a smooth and scratch-free finish. Also, growing competition in the global market is forcing vendors to focus on building brand awareness through marketing communication programs.
Competitive vendor landscape
The global coated abrasives market is highly fragmented with the presence of many vendors. The market is dominated by the global players: 3M, Saint-Gobain, Bosch, Hermes Schleifmittel, and the KWH Group. Many regional players are present in the market, especially in emerging regions such as APAC.
“Vendors compete based on price, innovation, quality and performance, and customer centrism. Many vendors also provide customized manufacturing services. However, the buyers of coated abrasives in many developed and developing regions differ in their opinion about the importance of these factors,” says Swapnil Tejveer Sharma, a lead metals and minerals analyst from Technavio.
Researchers at Technavio believes that successful and long-term incumbency can be achieved through optimized production that generates economies of scale through penetration into multi-regional markets.
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Top five coated abrasives market vendors
3M
3M offers a wide range of abrasive products for metal fabrication, woodworking, composite, and advance materials applications. Some of the abrasive products offered by the company fall under discs, belts, wheels, brushes, and other accessories. Coated abrasive discs and belts cater to a wide variety of requirements from metal fabrication, composite, painted substrates and hard-to-grind materials.
Bosch
Bosch is a diversified technology and service company. Through its consumer goods business, the company provides a wide array of coated abrasives. It offers segmented diamond abrasive blades, continuous rim diamond abrasive blades, turbo rim abrasive blades, turbo rim diamond abrasive blades, and diamond cup wheels.
Hermes Schleifmittel
Hermes Schleifmittel manufactures abrasives used to make functional and aesthetic surfaces in industries such as aviation, furniture, metal fabrication, and automotive. In addition, it works in close collaboration with major abrasives machine manufacturers to provide customers with specific abrasives process solutions used in the production of precision components in the electronics industry and in the medical technology industry.
KWH Group
KWH Mirka is the abrasives business segment of KWH Group that engages in manufacturing and marketing of paper, net, cloth, and non-woven-based abrasives, polishing compounds, and sanding machines for a wide range of surface finishing processes related to the manufacture of composite parts, automotive refinishing and production, metal processing, furniture production, and for sales in the paint, hardware, and machinery trades.
Saint-Gobain
Saint-Gobain operates in the global coated abrasives market primarily through its five subsidiaries: Saint-Gobain Abrasives GmbH (Germany), Saint-Gobain Abrasives Canada Inc. (Canada), Saint-Gobain Abrasives Inc. (The US), Saint-Gobain Abrasives BV (The Netherlands), and Saint-Gobain Abrasives Ltd. (The UK). Its abrasives business serves markets like the automotive aftermarket, composites and marine, construction, floor sanding, metal fabrication, and professional cleaning. The company markets its products under the brand names of Norton and Carborundum.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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