Global Abrasives Market Research Report: Forecast (2024-2030)

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 final product. They are used primarily in polishing to create a smooth & reflective surface. They also find applications in roughening materials to achieve matte, satin, or beaded finishes.

Market Insights & Analysis: Global Abrasives Market (2024-30)

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.

Other industries like metal fabrication, automotive, Electrical Equipment (E&E), and machinery & electronics, among others, shall also demonstrate a rise in demand for abrasives for grinding & polishing applications. These materials find extensive use in the production of automotive components to modify their operating parameters, such as reducing noise levels and engine CO2 emissions, among others. The expansive use of abrasives across different industries ensures that the global abrasives industry will proliferate in the coming years.

Global Abrasives Market Driver:

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.

Global Abrasives Market Growth Restraint:

Unavailability of Raw Material & Stringent Government Regulations for Abrasive Use: While abrasives are developed from different raw materials, where the common raw materials include aluminum oxide, cubic boron nitride, silicon carbide, ceramics, & synthetic diamond, procured from renewable resources like petroleum, the depletion of these resources is causing a shortage of abrasive production. Additionally, strict regulations set by the governments of different countries on confining the use of non-renewable resources are further limiting the availability of these materials and negatively impacting the Abrasives Market growth.

Global Abrasives Market Trend:

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.

Global Abrasives Market (2024-30): Segmentation Analysis

The Global Abrasives Market study from MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Type:

• Coated Abrasive
• Bonded 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.

On the other hand, bonded abrasives are set to contribute considerably to the Abrasive Market growth through 2030, principally due to the composition of these materials, exhibiting binders, and very fine aluminum oxide abrasive, used for purposes like sanding & polishing metal products.

As these materials come in the form of grinding wheels or rectification tools and are widely used to shape fragile or hard materials in the automotive & construction industry, ceramic compounds, & others, their demand is likely to remain prevalent in the coming years and, consequently, propel the abrasives Industry growth.

• In May 2021, Saint-Gobain Abrasives launched a proprietary nano-crystalline ceramic grain, Norton Quantum Prime Grinding Wheels, to offer exceptional productivity benefits in diverse applications.

Based on Application:

• Machinery
• Aerospace
• Metal Fabrication
• Automotive
• Electrical & Electronics

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.

On the other hand, Electrical & Electronics applications of abrasives significantly contribute to the ascension of the Global Abrasives Market, owing to the easy availability of new & attractive materials for wire insulation & blending in the electrical sector, creating lucrative opportunities for the abrasives market leaders and instigating them to expand their production & distribution capacities in order to cater to the varied end-user demands globally.

Global Abrasives Market (2024-30) Regional Projection:

Geographically, the Global Abrasives Market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• 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. 

Likewise, Europe is anticipated to make a substantial contribution to the abrasives market expansion in the coming years. The region is a hub for automobile production, so the procurement of abrasives is massive, making Europe a prominent consumer of these materials. Moreover, stringent regulations by automakers to ensure high-level cleaning & maintenance services for automobiles are also escalating the regional market growth.

On the other hand, North America is expected to demonstrate the fastest growth in the Abrasives Market during the forecast period. It owes to rapid developments in precision tooling & machine component manufacturing, especially across countries like the US & Canada, promulgating the demand for abrasives and stimulating the industry growth throughout the region. For instance,

• In response to the continuous feedback received from its North American manufacturing customers, Norton/Saint-Gobain Abrasives has launched the Norton Abrasive Process Solutions (APS) Program in June 2022 from their grinding technology center located in Northborough, Massachusetts. This move reflects their commitment to addressing customer needs and enhancing their abrasive solutions for the market.

Nonetheless, the Middle East & Africa is projected to demonstrate substantial market growth and create lucrative prospects for the industry participants during 2024-30. This growth is driven primarily by various ongoing & upcoming construction projects in the region, indicating an ever-growing demand for abrasives in the coming years.

Global Abrasives Industry Recent Development

• In October 2022, Boride Engineered Abrasives introduced a fresh addition to its range of polishing equipment, the HTSG-3S High Torque Air Grinder. This new air grinder is the most robust one available in the air micro grinder series. The inclusion of this low-speed, high-torque grinder expands the variety of abrasives that can be used and reduces the occurrence of errors during the grinding process.

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