Abrasives Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The 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.
Markntel Advisor’s Abrasives Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Abrasives Market drivers, barriers, Abrasives Market Trends, and Key Players in Abrasives Market.
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Abrasives Market Dynamics: 2024-2030
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.
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Abrasives Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Type
- Coated Abrasive
- Bonded Abrasive
- By Bonding Agents
- Vitreous
- Resin
- Metal Bonded
- Electroplated
- Rubber
- Others
- Super Abrasive
- By Bonding Agents
- By Raw Material
- Synthetic
- Aluminum oxide
- Metallic abrasives
- Silicon carbide
- Others
- Natural
- Synthetic
- By Application
- Machinery
- Aerospace
- Metal Fabrication
- Automotive
- Electrical & Electronics
- Others
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Top Companies Operating in the Abrasives Market:
- 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.
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