According to the latest report by IMARC Group, titled, “Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the abrasives market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global abrasives market size reached US$ 45.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028. Abrasives are sharp, mineral-based materials that are majorly used to offer finishing to both hard and soft materials. They are hard crystals that are either found in nature or can be synthetically manufactured. They are widely utilized to clean surfaces and to remove excess material coarsely. Apart from this, they are also employed for shaping in form grinding, sizing in precision grinding, tool sharpening, blast cleaning, separating in slicing operations, roughening in matte finishes and in the manufacturing of intricate components. As a result, they are gaining widespread preference among various end users such as the automobile, electrical and mechanical industries.
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Global Abrasives Market Trends:
The global market is primarily driven by significant growth in the automotive industry. These materials are widely utilized for the manufacturing of various automotive parts, such as mirrors, air ducts and fuel tanks. Additionally, abrasives are crucial for minimizing carbon dioxide emissions and lowering noise levels in automobiles. Rapid urbanization, increasing global population and inflating per capita income levels have provided a boost to the sales of automobiles across the globe, thereby catalyzing the demand for abrasives.
Moreover, the demand for these materials for metal fabrication is also providing a thrust to the market growth. Since they are utilized for surface blending as well as for removing welds, the emergence of automation in metal fabrication is expected to provide a stimulus to the market growth. Furthermore, extensive research and development (R&D) have led to the introduction of the next generation of non-woven abrasives in the market. Also, these materials provide minimal smearing issues, enhanced versatility and faster cut-rate, which is further contributing to their widespread preference across industries.
Major Key Players Covered in this Abrasives Market Report:
- Robert Bosch GmbH
- Dowdupont
- Fujimi Incorporated
- Compagnie De Saint-Gobain S.A.
- Henkel
- 3M Company
- Asahi Diamond Industrial
- Carborundum Universal
- Tyrolit Group
- Nippon Resibon Corporation
- Krebs & Riedel
- Abrasiflex
- Noritake
- Deerfos
- Sankyo-Rikagaku
Also Read the Full Blog: Top Abrasives Manufacturers in the World
Key Market Segmentation:
Product Type:
- Bonded Abrasives
- Coated Abrasives
- Super-abrasives
- Others
End-Use:
- Machinery
- Metal Fabrication
- Automotive
- Electronics
- Construction
- Others
Material Type:
- Natural Abrasives
- Synthetic Abrasives
Region:
- Asia Pacific
- Europe
- North America
- Latin America
- Middle East and Africa
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.