Emerging Trends and Raising Market Tides: Abrasives Market forecasted to reach $70.15 billion with a CAGR of 8.4% by 2029
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What Is The Forecasted Market Size and Growth Rate of the Global Abrasives Market?
The Abrasives Market has shown impressive growth in recent times, escalating from $46.55 billion in 2024 to an anticipated $50.72 billion in 2025, growing at a compound annual growth rate (CAGR) of 9.0%. This significant growth can be accredited to an increase in construction and infrastructure development, urbanization, industrialization, and rise in disposable income and demand for sustainable and eco-friendly materials.
Looking ahead, the Abrasives market size is expected to continue its robust growth, projected to reach $70.15 billion in 2029 at a CAGR of 8.4%. This growth can be attributed to the increasing demand in heavy-duty applications and industries such as aerospace and electronics, with a growing focus on safety and ergonomic design in abrasives equipment, and the adoption of green building standards. Major trends include advancements in abrasive technology, focus on sustainability, customization and specialization, digitalization in abrasives, and applications in 3D printing.
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What Are the Key Drivers of Growth for the Abrasives Market?
The emerging electrical vehicle (EV) industry is a significant factor expected to propel the growth of the Abrasives Market. An electric vehicle (EV) uses an electric motor and needs to be charged at electric stations rather than relying on internal combustion. This creates a growing demand for stainless steel for electric vehicle charging stations, driving the demand for abrasives needed to finish the material. As reported by the International Energy Agency, nearly 14 million electric cars were sold globally in 2023, marking a 35% increase from 2022. Electric cars accounted for approximately 18% of all new car sales in 2023, up from 14% in 2022 and only 2% in 2018. Therefore, the rise in the electric vehicle industry is driving the growth of the abrasives market.
What Are the Key Sectors within the Global Abrasives Market?
1) Raw Material: Natural, Synthetic
2) Type: Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, Super Construction Abrasives
3) Form: Block Form, Powdered Form
4) Application: Grinding, Cutting, Polishing, Drilling, Finishing, Other Applications
5) End User: Automotive, Machinery, Aerospace, Electrical & Electronics, Construction, Furniture
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Which Principal Companies Are Modifying the Abrasives Market Landscape?
Major companies operating in the Abrasives market include Robert Bosch GmbH, Minnesota Mining and Manufacturing Company, Saint-Gobain Abrasives Inc., Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit India Tool Pvt. Ltd., Asahi Diamond Industrial Co. Ltd., Deerfos Co. Ltd., Carborundum Universal Limited, and Nippon Resibon Corporation, among others.
What Emerging Trends Are Emergent in the Abrasives Market?
Companies in the Abrasives industry are increasingly adopting strategic partnerships to expand their presence in the market. One such instance was when France-based company, Compagnie de Saint-Gobain S. A., engaged in a partnership with Dedeco International Inc, a US-based manufacturer of specialty abrasives. This collaboration aimed to increase the selection of abrasives that Saint-Gobain Abrasives provides to its clientele in North America.
Which Region Is Leading in the Abrasives Market?
Asia-Pacific held the largest portion of the Abrasives market in 2024 and is projected to be the fastest-growing region during the forecast period. The report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Abrasives Market Report 2025 Offer?
The Abrasives Market research report offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Abrasives refer to a type of product used to shape or finish work parts, usually by means of rubbing with a mineral. This wear and tear process is similar to polishing, which creates a reflective, smooth surface for products such as automobiles, airplanes, space vehicles, and machine equipment.
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