Exploring the Abrasives Market: Booming Growth with a CAGR of 4.5% by 2030

According to MarkNtel Advisors study the Global Abrasives Market size was valued at USD 35.5 Billion in 2022 and is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Abrasives market

Global Abrasives Market Driver:

The Automotive Industry's Growing Demand for Abrasives: Since abrasives find substantial application across the automotive industry for repairing engine parts, auto body, and interior & exterior cleaning, among other applications, their demand is hiking worldwide. In fact, these materials are also used for cleaning the insides of components like pipes, smooth welds, edges, & surfaces for fitting, oiling, polishing, or painting. Such applications are augmenting the demand for abrasives across the automotive industry and driving the abrasives market.

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Scope of the Report and Abrasives Market Segmentation:

By Type

• Coated Abrasive
• Bonded Abrasive
  • By Bonding Agents
    • Vitreous
    • Resin
    • Metal Bonded
    • Electroplated
    • Rubber
    • Others
  • Super Abrasive

Between the two, coated abrasives dominated the market with the largest revenue share in 2022, and the same trend is likely during 2024-30.

By Raw Material

• Synthetic
  • Aluminum oxide
  • Metallic abrasives
  • Silicon carbide
  • Others
• Natural

By Application

• Machinery
• Aerospace
• Metal Fabrication
• Automotive
• Electrical & Electronics
• Others

Abrasives Market Competitive Landscape

• Robert Bosch GMBH
• 3M Company
• Saint-Gobain Abrasives, Inc.
• Fujimi Incorporated
• Asahi Diamond Industrial Co., Ltd.
• Cumi Murugappa Group (Carborundum Universal Limited)
• Mirka Ltd.
• Henkel AG & Co. KGaA
• Nippon Resibon Corporation
• Sankyo Rikagaku Co., Ltd.
• Noritake Co. Ltd.
• Tyrolit Group
• Boride Engineered Abrasives
• Flexovit USA, Inc.
• Abrasive Technology, Inc.

Abrasives Market Development:

• In October 2022, Boride Engineered Abrasives introduced a fresh addition to its range of polishing equipment, the HTSG-3S High Torque Air Grinder. This new air grinder is the most robust one available in the air micro grinder series. The inclusion of this low-speed, high-torque grinder expands the variety of abrasives that can be used and reduces the occurrence of errors during the grinding process.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Of all regions globally, Asia-Pacific is anticipated to dominate the Abrasives Market with the largest share during 2024-30.

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