Abrasives Market by Type (Bonded, Coated, and Super Abrasives), by Material (Natural and Synthetic), by Product Type (Disc, Cups, Cylinder, and Others), and by End User Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electronics, Construction, and Others)– Global Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Materials and Chemical | Publish Date: 02-Apr-2024 | No of Pages: 379 | No. of Tables: 273 | No. of Figures: 238 | Format: PDF | Report Code : N/A
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Market Overview
The Abrasives market size was valued at USD 45.09 billion in 2023 and is predicted to reach USD 62.21 billion by 2030, with a CAGR of 4.71% from 2024 to 2030. Abrasives are materials used for grinding, polishing, cutting, or shaping other materials through the application of frictional force. They are typically hard and abrasive particles or compounds, such as silicon carbide, aluminum oxide, or diamond, that are bonded onto a substrate such as paper, cloth, or wheels.
In industrial applications, abrasives play a crucial role in various manufacturing processes across sectors such as automotive, aerospace, construction, metalworking, and electronics. They are essential for tasks such as metal fabrication, surface preparation, deburring, and precision machining. Abrasives contribute to improving product quality, enhancing efficiency, and achieving desired surface finishes in manufacturing operations, making them indispensable in modern industrial processes.
The growing automotive industry fuels the growth of the market
The automotive and aerospace industries are experiencing significant growth, leading to increased demand for abrasives in various manufacturing processes such as grinding, polishing, and finishing. These abrasive materials play a crucial role in shaping and refining metal and composite components used in vehicle and aircraft production, ensuring precise and high-quality surface finishes. As these industries continue to expand, the need for abrasives to achieve superior surface quality and dimensional accuracy in manufacturing processes is expected to rise accordingly, driving market growth in the abrasives sector.
Rising construction sector in emerging economies are boosting the market growth
The construction sector, especially in emerging economies, is witnessing significant expansion, driving up the demand for abrasives used in surface preparation, sanding, and cutting applications. Abrasives are essential for smoothing surfaces, shaping materials, and cutting through various construction materials such as concrete, metal, and wood. As construction projects continue to proliferate globally, the need for abrasives to ensure precise and efficient surface treatments and material shaping processes is on the rise, contributing to the growth of the abrasives market.
Surge in the adoption of industry 4.0 is further boosting the market growth
The adoption of Industry 4.0 technologies is driving growth in the abrasives market as manufacturers increasingly seek advanced abrasive materials and technologies to enhance automation, efficiency, and precision in their production processes. Industry 4.0 principles, characterized by the integration of digital technologies, automation, and data analytics, are revolutionizing manufacturing operations, leading to a higher demand for abrasives for precision machining, surface finishing, and polishing applications.
In January 2023, Emirates Global Aluminum (EGA) and Microsoft UAE collaborated to accelerate Industry 4.0 adoption across industries in the UAE. This collaboration aims to set the global best practices for the aluminum industry while improving the sustainability of EGA’s computing operations. As industries embrace smart manufacturing practices, the need for high-performance abrasives to meet the demands of modern production methods is expected to rise, thus fueling market growth.
Environmental concerns along with health and safety regulation restrains the market growth
However, environmental concerns along with health and safety regulation associated with abrasives are restraining the growth of the market. The abrasive manufacturing process and the disposal of used abrasives can have adverse environmental impacts, such as pollution and resource depletion, leading to stricter regulations and higher compliance costs. Also, abrasives can pose health risks to workers due to exposure to hazardous dust and particles, leading to stricter regulations and safety measures, which can increase operational costs for businesses.
Integration of nanotechnology in abrasives manufacturing creates opportunities for the market
The incorporation of nanotechnology into abrasive manufacturing allows for the creation of abrasives with extremely precise nanoscale features and manipulation of material properties. Nanomaterials offer distinct advantages, including better surface finishes, lower material removal rates, and increased resistance to abrasion. These enhancements result in improved performance and durability of abrasive products, meeting the high standards of quality and efficiency demanded by various industries.
Asia-Pacific Dominates the Abrasives Market
The growing automotive industry in the Asia Pacific region is significantly boosting the abrasives market. As countries such as China, India, and Southeast Asian nations experience rapid economic development and urbanization, there is a surge in demand for automobiles. According to the International Trade Administration, China remains the global leader in vehicle sales and manufacturing output, maintaining its position as the largest vehicle market worldwide.
By 2025, domestic production is projected to reach 35 million vehicles, underscoring the country's significant presence and growth in the automotive industry. This robust growth underscores the region's significant presence in the automotive sector. As automotive manufacturers prioritize safety standards and compliance, abrasives play a pivotal role in enhancing fire safety within vehicles by mitigating ignition risks and slowing down flame spread during fire incidents.
Also, the widespread use of electronic devices and gadgets across the Asia Pacific region has spurred a surge in demand for abrasives in components and casings to address fire hazards and ensure product safety. With rapid industrialization and urbanization in the region, alongside increased adoption of electronic devices in both consumer and industrial sectors, there's a growing emphasis on adhering to fire safety regulations and standards.
According to GSMA, Asia Pacific is expected to exceed 3 billion smartphone connections by 2030, achieving a smartphone adoption rate of 94%, surpassing the global average of 92%. This increase highlights the need to incorporate fire-resistant materials into electronics manufacturing across various industries, such as telecommunications, consumer electronics, and automotive sectors.
North America to Show Steady Growth in the Abrasives market
North-America is expected to witness an increased demand for abrasives in the coming years, driven by stringent regulations and standards regarding surface quality and safety refer to the requirements imposed by regulatory bodies and industry organizations to ensure that surfaces meet certain quality and safety criteria. These regulations often dictate the acceptable levels of surface roughness, cleanliness, and safety measures to prevent accidents or injuries.
Industries such as automotive, aerospace, and manufacturing are subject to these standards to maintain product quality, adhere to safety protocols, and comply with legal requirements. As a result, companies operating in these sectors must invest in abrasive solutions that enable them to achieve the desired surface finish while meeting regulatory specifications.
Moreover, technological advancements in abrasive materials and manufacturing processes are driving the market forward by improving product performance, durability, and efficiency. In December 2023, C.W. Hayden launched a range of abrasives, known as 3M Cubitron III performance abrasives, leveraging cutting-edge technology to deliver superior performance and efficiency across various industrial applications.
This launch marks a significant advancement in abrasive technology, offering enhanced productivity and quality for users in the market. These advancements enable manufacturers to produce abrasives that offer superior cutting, grinding, and polishing capabilities, leading to higher productivity and cost-effectiveness for end users. Additionally, advancements in manufacturing processes allow for the creation of abrasives with consistent quality and precision, ensuring reliable performance across various applications in industries such as automotive, aerospace, construction, and metalworking.
Competitive Landscape
Several market players operating in the abrasives market include 3M Company, Saint-Gobain, Robert Bosch Power Tools GmbH, Bullard Abrasives, Inc., Carborundum Universal Limited, Deerfos, Hindustan Abrasives, Osborn Lippert India Private Limited, SAK Abrasives Limited, Sterling Abrasives Limited and others. These market players are adopting product launches across various regions to maintain dominance in the abrasives market.
For instance, in October 2023, Moosefos launched new line of premium-quality abrasives, featuring advanced materials and innovative designs to enhance performance and durability in various industrial applications. This launch reflects the company's dedication to meeting the evolving needs of its customers and driving innovation in the abrasives market.
Moreover, in January 2023, Bosch launched GWS 800 professional, a new range of abrasives specifically designed for metalworking applications, catering to the needs of industrial users. This expansion aligns with Bosch's commitment to providing high-quality solutions for various manufacturing processes, contributing to the growth of the abrasives market.
KEY MARKET SEGMENTS
By Type
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Bonded
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Coated
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Super Abrasives
By Material
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Natural
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Synthetic
By Product Type
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Disc
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Cups
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Cylinder
-
Others
By End User Industry
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Automotive
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Machinery
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Aerospace
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Metal Fabrication
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Electronics
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Construction
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Others
By Region
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North America
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The U.S.
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Canada
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Mexico
-
-
Europe
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The U.K.
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
-
-
Asia-Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Singapore
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Taiwan
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Thailand
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Rest of Asia-Pacific
-
-
Rest of the World (RoW)
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Latin America
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Middle East
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Africa
-
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 45.09 Billion |
|
Revenue Forecast in 2030 |
USD 62.21 Billion |
|
Growth Rate |
CAGR of 4.71% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
28 |
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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3M Company
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Saint-Gobain
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Robert Bosch Power Tools GmbH
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Bullard Abrasives, Inc.
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Carborundum Universal Limited
-
Deerfos
-
Hindustan Abrasives
-
Osborn Lippert India Private Limited
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SAK Abrasives Limited
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Sterling Abrasives Limited
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