China's abrasives import and export situation as a whole is export-oriented, the scale of imports compared to the scale of exports at a lower level. In exports, China's abrasives products are mainly exported to Vietnam, the United States, India and other places. From the structure of exports, at present, super-hard abrasives (carat) products for the abrasives market is the main export product categories. In terms of imports, China's abrasives imports are mainly from Japan, South Korea and the United States and other places. From the import volume structure, at present, super-hard abrasive products for the abrasives market is the main import product categories.

Non-renewable resources bauxite, is the main raw materials of abrasive production. Alumina project frequently started, had serious impact of raw material sources of brown corundum production . Brown corundum production enterprises to get good quality in the future, electricity, oil, coal, transport prices also continue to rise, forcing brown corundum enterprises production costs continue to rise. The national industrial policy on the low level of resource-based products to limit the excessive amount of backward production capacity to phase out in a limited period of time. Although this cancellation of the export tax rebate commodities list is less relevant to the abrasives industry, but the national call for energy saving and emission reduction continues to deepen, the industry is faced with industrial upgrading.According to the "2023-2028 China

Abrasives Industry Market Development Research and Forecast Report" released by China Research Institute of Industry:

Abrasives are mainly used for rough grinding, medium grinding, fine grinding until polishing of tiles, microcrystalline glass and other surfaces, with strong practicality and high dosage, can be widely used in cutting, grinding and polishing of natural stone, ceramics, microcrystalline glass and other non-metallic materials, which can reduce the time of changing tools and improve the work efficiency, especially suitable for handheld power tools, hand-push cutting machines, automatic bridge cutting machines, with a broad market prospect, and is currently being The market prospect is broad, and it is now being popularised throughout the country. Organic abrasives are resin abrasives, mainly used in steel, automobiles, bearings, railways, vehicles, shipbuilding, chemical industry, instrumentation, aerospace, building materials and other mechanical processing industry. Can be used to process a variety of non-metallic materials and metal materials. Such as: wood, rubber, plastic, glass, ceramics, stone, copper, aluminium, cast iron, steel, etc., as well as cemented carbide, high-speed steel, high vanadium steel, titanium steel, stainless steel and so on. In addition, in the food processing, medical and geological exploration and other fields can be applied.

Abrasives in the middle of the industry chain, the upper reaches are mainly corundum, silicon carbide and other common abrasives and diamond, cubic boron nitride and other super-hard abrasives production industry. Abrasives industry downstream applications are very wide, mainly concentrated in the iron and steel industry, automobile and its components industry, machine tool industry, aviation industry, shipbuilding industry and other fields; in recent years, with the abrasives, especially the super-hard abrasives application object and application areas continue to expand, downstream industry enterprises industrial upgrading and adjustment as well as the gradual replacement of the traditional processing tools and other factors, high-end abrasives in the above fields Market demand shows a sustained and rapid growth trend. On the import side, as a large production capacity, China's imports of abrasives products in a small volume, due to the outbreak of the epidemic in different sequential times, the import volume appeared relatively large fluctuations.

Market Research and Analysis of China Abrasives Industry in 2023:

The upgrading of 3C and smart home appliance products is getting faster and faster, bringing new opportunities to the mould manufacturing industry. From the shell structure to integrated circuit boards, the use of moulds to manufacture a variety of parts in 3C products accounted for more than 70%, the application is very broad. Network products, electrical connector products manufacturing industry, the rapid expansion of the scale of the mould to support its innovation capacity and structural optimisation. Currently, the market is experiencing growth due to the booming automotive industry, electronics and manufacturing. In these industries, abrasives are used for precision manufacturing of semiconductors and other electronic devices.The global abrasives market size reached USD 42.9 billion in 2021. The market size is expected to reach USD 58 billion by 2027, growing at a CAGR of 5.15% from 2021-2027.

The export value of abrasives products in the first half of 2022 was US$1.424 billion, up 20.59% year-on-year. Although the export volume of the other three types of products, except for silicon carbide and other synthetic corundum, declined by varying margins in the first half of the year, in terms of export value, all types of products, except for abrasives, rose by varying margins, mainly due to the impact of the industry's various major raw material prices continuing to go up, the enterprises upwardly adjusted the prices of their products as well as fluctuations in the exchange rate. Apart from this, leading companies are focusing on various product innovations such as development of polyester and fabric based abrasives. They have also introduced advanced metal working coated abrasives, which is driving the growth of the abrasives market. In addition to this, increasing use of super abrasives such as industrial diamonds for precision grinding and cutting hard metals is driving their sales globally.

In terms of sub-sectors, the market demand for abrasives has remained largely stable. The automotive industry is the most important application market area for injection moulds. According to the incomplete statistics of China Mould Industry Association, about 30% of the moulds and products in China's mould industry are supporting the automotive industry, in terms of a single application area, the automotive industry has undoubtedly become the largest market for injection moulds. However, other application areas, such as electronics, home appliances, information, aerospace, military, transport, building materials, medical, biological, energy and other manufacturing areas, is also a wide and large-scale market.

This report, led by CTRP Consulting, is based on a large amount of thorough market research and is mainly based on the information published and provided by the National Bureau of Statistics, the National Civil Aviation Administration, the Ministry of Commerce, the National Air Traffic Control Commission, the Development Research Centre of the State Council, the International Air Transport Association, the China Abrasives Association, the China Communications and Transportation Association, the China Industry Research Network, a wide range of relevant national and overseas newspapers and magazines, as well as professional research institutes. The data is available in a large number of publications and magazines. To learn more details about the industry data, you can click to check the "China Abrasives Industry Market Development Research and Forecast Report 2023-2028" by China Research Institute of Puhua Industry.

Source: China Research