Press Release Description

Abrasives Market to Boom as Urbanization & Infrastructure Development Intensifies

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 2024-30, cites MarkNtel Advisors in their recent research report. The market is driven by the growing focus of the governments of different countries on infrastructural development, demonstrating a rise in the number of construction projects & propelling the demand for abrasives.

In addition, the swift expansion of the electronics & manufacturing industries is also emerging as prominent consumers of abrasives to scrape metal in small amounts for the manufacturing of semiconductors & electronic appliances with high precision.

Besides, many players are actively participating in numerous research & development activities to bring more innovations in abrasives, such as polyester & fabric-based abrasives and advanced coated abrasives for metal fabrication, among others, contributing to the overall growth of the Global Abrasives Market through 2030, further states the research report, “Global Abrasives Market Analysis, 2024.”

Global Abrasives Market

Market Segmentation

  • By Type (Coated Abrasive, Bonded Abrasive (Vitreous, Resin, Metal Bonded, Electroplated, Rubber), Super Abrasive)
  • By Raw Material (Synthetic (Aluminum oxide, Metallic abrasives, Silicon carbide), Natural)
  • By Application (Machinery, Aerospace, Metal Fabrication, Automotive, Electrical & Electronics)
  • By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)

Increasing Sanding & Polishing Applications Driving the Demand for Bonded Adhesives

Bonded abrasives are projected to make considerable contributions to the growth of the Abrasives Market, hinting toward lucrative opportunities for the leading players during 2024-30. This growth attributes to the composition of abrasives exhibiting binders & fine aluminum oxide, finding applications like sanding & polishing metal products widely throughout the world. Besides, owing to the expanding automotive & electronics sectors demonstrating a high demand for abrasives, the overall market growth is likely to register a swift growth in the coming years.

Ever-Expanding Automotive Industry to Drive the Asia-Pacific Abrasive Market

On the geographical front, Asia-Pacific is anticipated to dominate the Abrasives Market with the largest share during 2024-30. This dominance attributes to the rapidly expanding automotive & electronics industry across different countries in the region, augmenting the demand for abrasives for diverse applications. The same aspect is also generating lucrative opportunities for the leading players to increase their production & distribution capacities to cater to the burgeoning demands throughout Asia-Pacific.

On the other hand, Middle East & Africa is projected to exemplify substantial growth in the Global Abrasives Market during the forecast period. This growth is driven by the construction sector being a prominent industry across different countries, acting as a backbone for the economic liquidity, demonstrating a rise in the number of projects throughout the region. As a result, the requirement for abrasives is mounting substantially and instigating the players to increase their production & distribution capacities to meet the burgeoning requirements throughout the region.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including 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., and Abrasive Technology, Inc. are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various countries?
  6. How have the buying behavior, customer in- inclination, and expectations from product manufacturers been evolving during 2018-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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