The Global Abrasives Market was valued at USD 41.54 billion in 2019 and is projected to reach USD 84.84 billion by 2030, expanding at a CAGR of 6.6% during the forecast period, from 2020 to 2030. Based on volume, the global abrasive market was valued at 43,738.4 kilotons in 2019 and is expected to reach 84,643.5 kilotons by 2030, at a CAGR of 6.1% from 2020 to 2030.
Abrasives are primarily minerals derived either from natural or synthetic sources. Abrasives are widely used for buffing, grinding, cutting, drilling, honing, lapping, polishing, sharpening, and sanding. They are extensively employed in domestic, industrial, and technological applications, as they are available in numerous sizes, physical compositions, shapes, and chemical compositions. Commonly used abrasives include silicon carbide, aluminium oxide, cubic boron nitride, and diamond. In special applications, materials such as garnet, zirconium, glass, and walnut shells are employed to provide a superior finish.
Market Dynamics and Trends
Increasing demand for abrasives from the metal fabrication industry, massive production of electronic components, and reducing cost of synthetic diamonds are driving the global abrasives market. The automotive segment is projected to create opportunities, as abrasives play a vital role in the manufacturing of automotive components. Rising disposable income and growing demand for passenger and commercial vehicles are anticipated to propel the market in the future. However, factors such as the implementation of stringent regulations on the usage of silica abrasives and fluctuation in the prices of raw materials may hamper the abrasives market.
Market Segmentations and Scope of the Study:
The abrasives market has been segmented into type, material, end user industry, and geography. Based on type, the market is segmented into bonded, coated, and super. On the basis of material, the abrasives market is bifurcated into natural and synthetic. In terms of end user industry, the market is divided into automotive, machinery, aerospace, metal fabrication, electronics, construction, and others. Based on geography, the global market is categorized as North America, Europe, Asia-Pacific, and RoW.
Asia-Pacific holds the dominant share in the global abrasives market and is expected to continue its dominance throughout the forecast period due to factors such as increasing investments by manufacturers in this region, high demand for abrasives in the booming construction sector, government initiatives to increase foreign direct investment (FDI) in the manufacturing sector, and rapid growth of various other end user industries such as automotive, machinery, and metal fabrication. The market in North America is estimated to expand at a high pace due to increasing demand of abrasives from the furniture and interior-designing industry, its high adoption in metal fabrication applications, and rapid industrialization.
The abrasives market report provides a comprehensive competitive analysis and profiles of market players such as Kier Group, Deerfos Co., Ltd., Tyrolit Group, LafargeHolcim, Stanley Black & Decker Incorporated, Almatis GmbH, Sia Abrasives, Cabot Microelectronics Corporation, The Dow Chemical Company, Winterthur, FMSA Holdings Incorporated, Jason Incorporated, Fujimi Incorporated, Treibacher, Global Material Technologies Incorporated.
KEY MARKET SEGMENTS:
• Global Abrasives Market –
• Global Abrasives Market – By Material
• Global Abrasives Market – By End User Industry
o Metal Fabrication
• Global Abrasives Market – By Geography
o North America
Rest of Europe
Rest of Asia-Pacific
• Kier Group
• Deerfos Co., Ltd.
• Tyrolit Group
• Stanley Black & Decker Incorporated
• Almatis GmbH
• Sia Abrasives
• Cabot Microelectronics Corporation
• The Dow Chemical Company
• FMSA Holdings Incorporated
• Jason Incorporated
• Fujimi Incorporated
• Treibacher, Global Material Technologies Incorporated
Frequently Asked Questions
- By product type
- By End User/Applications
- By Technology
- By Region