Abrasives Market Projected to Expand at 23% CAGR Through 2030
The Global Abrasives Market size was valued at USD 35.5 Billion in
2022 and is projected to grow at a CAGR of around 4.5% during the
forecast period, i.e., 2024-30. The market is projected to experience
significant growth in the coming years due to the surge in construction &
manufacturing activities worldwide. The demand for abrasives in the
construction industry for woodworking, fabrication, metal components, and other
uses is particularly high in various developing countries. As a result, abrasives manufacturers have the immense potential to capitalize
on these opportunities and achieve substantial revenue & market share.
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Strategic Takeaways
from the Report:
- Market Sizing and Forecasting
- Regulatory and Policy Influence
- Competitive Trends and M&A Activity
- Innovation Drivers and Disruptive Technologies
- Investment Hotspots and Emerging Niches
- Geographical Dynamics and Trade Flows
Abrasives Market
Segment Overview & Classification
This market is categorized to offer
targeted insights across various operational and consumer-related verticals.
Segment List:
By Type
o
Coated
Abrasive
o
Bonded
Abrasive
§ By Bonding Agents
·
Vitreous
·
Resin
·
Metal
Bonded
·
Electroplated
·
Rubber
·
Others
o
Super
Abrasive
Between the two, coated abrasives dominated the market with the
largest revenue share in 2022, and the same trend is likely during 2024-30. It
owes to their wide application in consumer goods, fabrication, hand & power tools, furniture, general engineering, &
surgical products, among others, backed by the presence of backing materials
like grains & a bonded adhesive.
By Raw Material
o
Synthetic
§ Aluminum oxide
§ Metallic abrasives
§ Silicon carbide
§ Others
o
Natural
By Application
o
Machinery
o
Aerospace
o
Metal
Fabrication
o
Automotive
o
Electrical
& Electronics
o
Others
Of them all, the metal fabrication application
of abrasives has proliferated in recent years and is likely to witness rapid
growth, hinting at the inflated Abrasives Market size during 2024-30. This
growth is backed by the capabilities of these materials in aiding the
manufacturing of metal structures through bending, cutting, & assembling
processes. They are also used as cut-off saws owing to the steel-cutting
abrasive disks that help cut metals into the desired shape. Other than this,
they aid in the fabrication of products like fiber & flap discs for
grinding metals & blending surfaces. Backed by such uses, the demand for
abrasives is exploding for metal fabrication and, in turn, fueling the
Abrasives Market growth.
By Region
o
North
America
o
South
America
o
Europe
o
Middle
East & Africa
o
Asia-Pacific.
Of all regions globally, Asia-Pacific is
anticipated to dominate the Abrasives Market with the largest share during
2024-30. It owes to its flourishing automotive industry and the growing number
of construction activities across different countries in the region, creating
the demand for abrasives and generating lucrative opportunities for the
abrasives market leaders to increase their production & distribution
capacities in order to cater to the burgeoning end-user requirements.
These divisions help clarify demand
patterns and expected shifts.
Market Opportunities
The Automotive
Industry's Growing Demand for Abrasives: Since abrasives find substantial application
across the automotive industry for repairing engine parts, auto body, and
interior & exterior cleaning, among other applications, their demand is
hiking worldwide. In fact, these materials are also used for cleaning the
insides of components like pipes, smooth welds, edges, & surfaces for
fitting, oiling, polishing, or painting. Such applications are augmenting the
demand for abrasives across the automotive industry and driving the abrasives
market.
Abrasives Market
Competitive Snapshot from 2024-2030
The report highlights established and
emerging players in the global Abrasives Market, evaluating their
strengths, challenges, and potential for innovation.
Key Competitors Include:
- Robert Bosch GMBH
- 3M Company
- Saint-Gobain Abrasives, Inc.
- Fujimi Incorporated
- Asahi Diamond Industrial Co., Ltd.
- Cumi Murugappa Group (Carborundum
Universal Limited)
- Mirka Ltd.
- Henkel AG & Co. KGaA
- Nippon Resibon Corporation
- Sankyo Rikagaku Co., Ltd.
- Noritake Co. Ltd.
- Tyrolit Group
- Boride Engineered Abrasives
- Flexovit USA, Inc.
- Abrasive Technology, Inc.
Their activities include partnerships,
product launches, and geographic expansions.
Abrasives Industry
Trends
Mounting Demand for Abrasives, Driven by
Increasing Infrastructure Development Activities: Numerous countries worldwide are
increasingly focusing on developing their infrastructure across diverse
sectors, such as commercial, residential, & industrial areas. Such projects
include the construction & development of commercial areas, such as
airports, shopping malls, railway stations, highways, roads, & tunnels,
coupled with industrial construction activities associated with manufacturing
plants, steel & mining industries, metal fabrication, as well as the
construction of smart cities & rural areas, among others, indicating a
substantial rise in demand for abrasives over the coming years.
Frequently Asked Questions (FAQs):
- What industries are most impacted by this market?
- How is technology reshaping operations and offerings?
- Which competitors dominate the landscape?
- What risks could disrupt market expansion?
- How should businesses respond to demand fluctuations?
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