Market Definition
Abrasives are materials that grind away elements like concrete, wood, ceramic, stone, & mineral, among others, and offer an elegant, sleek, & finished look to the finished product. Abrasion is majorly in polishing for a smooth & reflective surface & also finds application in roughening materials to matte, satin, or beaded finishes.
Market Insights
The Global Abrasives Market is projected to grow at a CAGR of around 6% during the forecast period, i.e., 2022-27. The market is driven by the swift rise in the number of construction projects across different corners of the world, augmenting the demand for these materials & hinting toward an opportunistic industry future for the prominent players to expand their operational capacities.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2021-2026) | 6% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Spain | |
| Asia-Pacific: China, India, Japan, South Korea | |
| South America: Brazil, Argentina, Rest of South America | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa, Algeria, Morocco | |
| Key Companies Profiled | 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 |
| Unit Denominations | USD Million/Billion |
Other industries like metal fabrication, automotive, Electrical Equipment (E&E), and machinery and electronics, among others, shall also demonstrate a rise in the demand for abrasives for grinding & polishing applications and further boost the industry across the globe.
Moreover, these materials are also used in manufacturing automotive components to modify operating parameters like reducing noise levels & engine carbon dioxide emissions & others. With such expansive use of abrasives across different industries, the industry shall grow rapidly in the coming years.
Furthermore, since abrasives are used in the construction industry for woodworking & fabrication, metal components, metal fabrications, and numerous other uses, their demand is propelling, particularly across various developing countries. For instance:
Key Trend in the Global Abrasives Market
As most countries are focusing on the infrastructure development of their country across diverse sectors like commercial, residential, and industrial areas and up-surging the number of projects, the demand for abrasives shall witness a hike and make a direct & positive influence on the market growth.
These projects include the construction & development of commercial areas like airports, shopping malls, railway stations, highways, roads, and tunnels, alongside industrial construction for manufacturing plants, steel & mining industries, metal fabrication projects, and residential sectors witnessing a rise in the development & construction of smart cities, rural development, and more.
