The Business Research Company’s report on the Abrasives Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the abrasives industry?
The growing electrical vehicle (EV) industry is expected to propel the growth of the abrasives market. An electric vehicle (EV) uses an electric motor and is charged at electric stations rather than internal combustion. This upswing is coupled with the compelling need to populate the huge worldwide road network with electric vehicle (EV) charging stations, as the meteoric rise of the electric car shows every indication of lasting far into the future. As a result, demand for stainless steel (and the abrasives needed to finish it) to provide numerous electric vehicle charging stations is expected to grow for years. In almost all circumstances, stainless steel will need at least one abrasive treatment to finish before it can be used in any significant fashion in the real world. Every stainless-steel weld, necessitates some degree of grinding and polishing. For instance, in April 2024, according to the report published by the International Energy Agency, a France-based intergovernmental organization, 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. The total number of electric cars on the road reached 40 million by the end of 2023. Therefore, a rise in the electric vehicle industry is driving the growth of abrasives market.
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What is the estimated market size of the abrasives sector by 2029, based on current forecasts?
The abrasives market size has grown strongly in recent years. It will grow from $46.55 billion in 2024 to $50.72 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to construction and infrastructure development, increased urbanization, rise in industrialization, rise in disposable income, growing demand for sustainable and eco-friendly materials.
The abrasives market size is expected to see strong growth in the next few years. It will grow to $70.15 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing demand for abrasives in heavy-duty applications, growing demand for abrasives in the aerospace industry, growing demand for coated abrasives in the electronic industry, increasing focus on safety and ergonomics in abrasives equipment design, growing adoption of green building standards. Major trends in the forecast period include advancements in abrasives technology, focus on sustainability, customization and specialization, digitalization in abrasives, application in 3d printing.
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Who are the top players in the abrasives market?
Major companies operating in the abrasives market 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, Nippon Resibon Corporation, Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG, Abrasiflex Pty Ltd., Noritake Co. Ltd., Sankyo-Rikagaku Co. Ltd., Sia Abrasives Industries AG, Jason Incorporated, Schaffner Manufacturing Company Inc., North Industries Group Red Arrow Co. Ltd., 3M Deutschland GmbH, SAK ABRASIVES Inc., ARC Abrasives Inc., Arconic Corporation, DowDuPont Inc., Fiven ASA, Henan Huanghe Whirlwind Co. Ltd., Hermes Schleifmittel GmbH & Co. KG, Imerys S. A, Jowitt & Rodgers Co., Klingspor AG, Grindwell Norton Ltd., Luossavaara-Kiirunavaara AktiebolagMinerals AB, Mirka Ltd., Pferd Pharmaceutical Private Limited, Suhner Holding AG, Vereinigte Schmirgel- und Maschinen-Fabriken AG., Wendt (India) Limited, WINOA IKK JAPAN Co. Ltd., Y. Ikemura & Co. Ltd., Zische Schleifwerkzeuge GmbH
What are the major trends in the abrasives market?
Major companies operating in the abrasives market are adopting strategic partnerships approach to expand in the market. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in October 2023, Compagnie de Saint-Gobain S. A., a France-based company involved in the production of various building materials and high-performance materials, partnered with Dedeco International Inc, a US-based manufacturer of specialty abrasives. With this partnership, Saint-Gobain Abrasives will be able to sell Dedeco’s sunburst range of thermoplastic-bonded abrasives, which includes brushes and discs with radial bristles for polishing, deburring, cleaning, and finishing metals and other materials. The goal of this collaboration is to increase the selection of abrasives that Saint-Gobain Abrasives provides to its clientele in North America.
Which geography holds the highest abrasives market share?
Asia-Pacific was the largest region in the abrasives market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the abrasives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How do different segments contribute to the overall expansion of the abrasives market?
The abrasives market market covered in this report is segmented –
1) By Raw Material: Natural, Synthetic
2) By Type: Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, Super Construction Abrasives
3) By Form: Block Form, Powdered Form
4) By Application: Grinding, Cutting, Polishing, Drilling, Finishing, Other Applications
5) By End User: Automotive, Machinery, Aerospace, Electrical & Electronics, Construction, Furniture
Subsegments:
1) By Bonded Abrasives: Grinding Wheels, Mounted Points, Abrasive Bricks, Bonded Abrasive Discs
2) By Coated Abrasives: Sanding Discs, Abrasive Belts, Sheets And Rolls, Flap Discs
3) By Super Precision Abrasives: Diamond Abrasives, CBN (Cubic Boron Nitride) Abrasives, High-Performance Grinding Tools
4) By Super Construction Abrasives: Cutting Tools, Specialty Abrasives For Construction Applications, Heavy-Duty Grinding Wheels
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How is the abrasives market defined, and what are its core characteristics?
Abrasives refer to a type of product utilized to finish or shape work parts through rubbing, usually with a mineral, causing wear and tear and being comparable to polishing, which entails roughening the surface as in matte or satin finishes in order to produce a reflecting and smooth surface used in the production of automobiles, airplanes, and space vehicles, as well as mechanical and electrical appliances and machine equipment.
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