Global Abrasives Market Size By Product Type (Bonded, Coated, Super, Steel), By Source (Natural, Synthetic), By Material (Aluminum Oxide, Silicon Carbide, Emery, Corundum, Boron Carbide), By Application (Machinery, Electrical & Electronics, Automotive, Metal Fabrication, Aerospace), By Geographic Scope And Forecast

Abrasives Market Size And Forecast

Abrasives Market size was valued at USD 56.95 Billion in 2023 and is projected to reach USD 87.49 Billion by 2031, growing at a CAGR of 6.08% from 2024 to 2031.

• An abrasive is a hard material, often a mineral, used to shape or finish a workpiece through friction, which wears away a portion of the item’s surface. Abrasives are characterized as natural (diamond and corundum) or synthetic (silicon carbide and aluminum oxide). They are used in a variety of applications, including grinding wheels, sandpaper, and polishing compounds.
• Furthermore, abrasives have a wide range of applications, including industrial grinding, cutting, and polishing in automobile and electronics production processes, as well as residential cleaning and tool sharpening. Their ability to create smooth finishes or specialized textures makes them crucial in producing accurate measurements and high-quality surfaces across numerous industries.

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Abrasives Market Dynamics

The key market dynamics that are shaping the Abrasives Market include:

Key Market Drivers

• Growth in the Automotive Industry: The automotive industry is a major user of abrasives in a variety of manufacturing and finishing processes. According to the International Organization of Motor Vehicle Manufacturers (OICA), worldwide vehicle production reached 85.01 million units in 2021, up 3% from 2020. This increase in automobile production pushes up demand for abrasives used in jobs such as metal cutting, grinding, and polishing vehicle components.
• Expansion of the Construction and Infrastructure Sector: The construction sector makes extensive use of abrasives for surface preparation, cutting, and finishing. According to the US Census Bureau, the value of construction in the United States reached USD 1.79 Trillion in 2021, up 8.2% from 2020. This increase in worldwide construction activity contributes to increased demand for various abrasive goods utilized in the sector.
• Rising Adoption of Abrasives in the Electronics Industry: Precision abrasives are widely used in the electronics sector, particularly in semiconductor production, for procedures such as wafer polishing and circuit board manufacturing. According to the Semiconductor Industry Association (SIA), worldwide semiconductor sector revenues reached USD 555.9 Billion in 2021, representing a 26.2% growth year on year. The expansion of the electronics industry increases the demand for high-precision abrasives used in production processes.

Key Challenges:

• Raw Material Price Fluctuations: Aluminum, steel, and diamonds are key raw materials in the Abrasives Market. Fluctuations in these commodities’ pricing raise production costs, making it harder for firms to remain profitable. As raw material prices rise, businesses must pass on these costs to customers, thus lowering demand and impeding market expansion.
• High Operating Costs: The Abrasives Market is characterized by high operational expenses resulting from raw material manufacturing and importing. These expenses are increased by global supply chain disruptions and economic volatility. Manufacturers struggle to maintain profit margins if they are unable to successfully manage their expenses, limiting their ability to invest in innovation or expand operations.

Key Trends:

• Shift towards Sustainable and Eco-friendly Abrasives: Manufacturers are increasingly using eco-friendly raw materials and greener manufacturing techniques as environmental awareness grows. This includes using recycled materials and bio-based abrasives to reduce carbon footprints. Companies are also deploying innovative technology to reduce waste and emissions, aligning their operations with global sustainability goals, and responding to consumer demand for greener products.
• Expansion of the Electric Vehicle (EV) Industry: The expansion of the electric vehicle (EV) industry has a substantial impact on the Abrasives Market. The increased production of electric vehicles involves the use of high-quality abrasives in manufacturing processes such as grinding and polishing. As governments support renewable energy and automakers engage in EV technology, the need for abrasives designed for this industry is likely to skyrocket, boosting innovation and market expansion in the years ahead.

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Abrasives Market Regional Analysis

Here is a more detailed regional analysis of the Abrasives Market:

Asia Pacific:

• According to Verified Market Research, the Asia Pacific region is estimated to dominate the Abrasives Market over the forecast period. The Asia Pacific region, particularly China and India, has seen tremendous expansion in manufacturing and industrial production, resulting in increased demand for abrasives. The United Nations Industrial Development Organization (UNIDO) reports that Asia and the Pacific accounted for 51.5% of global manufacturing value added in 2021. China alone provided 28.7% of this total. This considerable manufacturing base generates a high demand for abrasives utilized in a variety of industrial processes, including metal fabrication and electronics production.
• Furthermore, the automotive sector in the Asia Pacific is expanding rapidly, increasing demand for abrasives used in vehicle production and maintenance. According to the International Organization of Motor Vehicle Manufacturers (OICA), Asia produced 46.7 million automobiles in 2021, accounting for 55% of total global output. China produced the most units (26.1 million). This thriving automotive industry increases the demand for abrasives in processes such as metal cutting, surface preparation, and polishing of automobile components.

North America:

• North America is estimated to exhibit substantial growth within the market during the forecast period. North America, particularly the United States, is witnessing a manufacturing boom, which is increasing demand for abrasives. According to the US Federal Reserve, industrial production in the United States increased by 3.9% in 2022 over the previous year. The manufacturing sector, which is a major consumer of abrasives, increased output by 4.5% during the same period. The increase in industrial activity is driving up demand for various abrasive products used in machining, surface preparation, and finishing processes.
• Furthermore, North America’s enormous vehicle fleet supports a robust aftermarket sector, which uses abrasives extensively for maintenance and repair operations. According to the US Department of Transportation, there were around 284 million registered automobiles on US roadways in 2020. This huge automobile fleet generates a steady demand for abrasives used in operations such as rust removal, paint preparation, and general vehicle maintenance, which contributes to the region’s Abrasives Market growth.

Global Abrasives Market: Segmentation Analysis

The Abrasives Market is segmented based on Product Type, Source, Material, Application, and Geography.

Abrasives Market, By Product Type

• Bonded
• Coated
• Super
• Steel
• Others

Based on Product Type, the market is segmented into Bonded, Coated, Super, Steel, and Others. The bonded segment is estimated to dominate the Abrasives Market during the forecast period due to its efficiency in a variety of applications, including grinding, cutting, and polishing in industries such as automotive, aerospace, and construction. Bonded abrasives are valued for their endurance and ability to provide exact finishes, making them indispensable in production operations. Their extensive use and efficacy contribute greatly to their market domination, indicating strong demand across different sectors.

Abrasives Market, By Source

• Natural
• Synthetic

Based on Source, the market is segmented into Natural and Synthetic. The synthetic segment is estimated to dominate the Abrasives Market during the forecast period due to synthetic abrasives’ improved features, which include increased durability, adjustable grain forms, and controlled purity, making them appropriate for a wide range of applications in industries such as automotive, aerospace, and electronics. As industries need higher-performance materials for precision jobs, the synthetic segment is likely to rise further, fueled by ongoing innovations and technological breakthroughs in abrasive production.

Abrasives Market, By Material

• Aluminum Oxide
• Silicon Carbide
• Emery
• Corundum
• Boron Carbide
• Others

Based on Material, the market is segmented into Aluminum Oxide, Silicon Carbide, Emery, Corundum, Boron Carbide, and Others. The aluminum oxide segment is estimated to dominate the Abrasives Market due to its versatility and effectiveness in a wide range of applications, including grinding, cutting, and polishing in industries as diverse as automotive and metal manufacturing. Aluminum oxide’s durability and cost-effectiveness make it a popular choice among producers, resulting in a major revenue contribution to the overall abrasive market landscape.

Abrasives Market, By Application

• Machinery
• Electrical and Electronics
• Automotive
• Metal Fabrication
• Aerospace
• Others

Based on Application, the market is segmented into Machinery, Electrical & Electronics, Automotive, Metal Fabrication, Aerospace, and Others. The automotive segment is estimated to dominate the Abrasives Market during the forecast period. This dominance is being driven by the growing need for high-quality surface treatments and precision in vehicle manufacturing. Abrasives are used for a variety of purposes, including grinding, polishing, and sanding automobile components to improve product performance and aesthetics. The continued growth of the automotive sector, especially the rise of electric vehicles, reinforces this segment’s dominant position.

Abrasives Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the Abrasives Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. According to the VMR analyst, the Asia Pacific region is estimated to dominate during the forecasted period. Rapid urbanization, major expansion in the construction and manufacturing sectors, and rising demand for abrasives in industries like automotive and electronics all contribute to this dominance. Countries like as China, India, and Japan are major contributors to this expansion, with their rising economies encouraging high levels of industrial activity and infrastructural development, bolstering Asia Pacific’s dominant position in the global Abrasives Market.

Key Players

The “Abrasives Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Robert Bosch GmbH, NIPPON RESIBON CORPORATION, Saint-Gobain, Asahi Diamond Industrial Co. Ltd., Fujimi Incorporated, Carborundum Universal Limited, The 3M Company, Henkel AG & Co. KGaA, Krebs & Riedel, KWH Mirka, and NORITAKE CO. LIMITED.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Abrasives Market Recent Developments

• In August 2022, Tyrolit purchased almost 75% of the Egeli Egesan Group. This reflects the company’s attempts to strengthen its position in the Middle East’s abrasive sector. Tyrolit’s acquisition of a controlling stake in the Egeli Egesan group intends to boost its market share and generate long-term growth.
• In May 2023, Sak Abrasives Limited announced the acquisition of Jowitt & Rodgers Co., based in Philadelphia, Pennsylvania, USA. With this acquisition, the company expanded its product offering to include Jowitt & Rodgers Co.’s resin-bonded grinding wheels, discs, and segments.

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