Abrasives Market Forecasts to 2028 - Global Analysis By Material (Natural and Synthetic), Type (Bonded abrasives, Coated abrasives, Super abrasives and Other Types), End User (Metal fabrication, Aerospace, Automotive, Machinery, Electrical & electronics e

Abrasives Market Forecasts to 2028 - Global Analysis By Material (Natural and Synthetic), Type (Bonded abrasives, Coated abrasives, Super abrasives and Other Types), End User (Metal fabrication, Aerospace, Automotive, Machinery, Electrical & electronics equipment and Other End Users) and Geography

According to Stratistics MRC, the Global Abrasives Market is accounted for $38.80 billion in 2022 and is expected to reach $55.67 billion by 2028 growing at a CAGR of 6.2% during the forecast period. Abrasives are materials that are used to remove wood, concrete, ceramic, stone, or minerals. These materials create an elegant, sleek, and finished appearance. The method is frequently used for material polishing to achieve a smooth and reflective surface. These materials are roughened to achieve matte, satin, or beaded finishes. These materials are used in sandpapers, grinding wheels, polishes, honing stones, tumbling and vibratory mass-finishing media, pulp stones, sandblasting, ball mills, and other tools, which helps the market grow. The construction industry is undergoing tremendous and unprecedented changes as a result of economic growth, which is increasing product demand. The growing demand for the product in end-use industries such as metal fabrication, automotive, Electrical Equipment (E&E) and machinery, and electronics is expected to drive the market.
According to the IEA, the number of electric vehicles in the United States increased by 29.5% between 2018 and 2019. The demand for electric vehicles and charging stations is increasing in the United States, which is expected to boost abrasive demand in the coming years.

Market Dynamics:

Driver:

Rising adoption of abrasives in construction activities

Construction activity has increased as a result of rapid urbanisation and improved lifestyles. Economic growth in developing countries, combined with high renovation activity, is supporting market development more. These products are used in a variety of construction applications, including woodworking and fabrication, metal fabrications, and metal components. Growing economies such as China, India, Japan, and other Asian countries are leading the way in the construction industry. Because of the expansion of residential construction, these countries' rising populations have had a positive impact on product consumption. Furthermore, the western region's major shift in industrialization into smaller nations is directly supporting the growth rate in the construction industry, which, in turn, is leading to the growth of the abrasives industry.

Restraint:

High manufacturing costs and health implications

Abrasive blasting can generate a lot of dust and noise. Toxic elements could be present in the abrasive material and the surface being blasted, putting employees at risk. Moreover, high production costs, volatile raw material prices, and strict restrictions on abrasive uses are expected to stymie the market.

Opportunity:
Growing demand from the automotive industry

The product is used for engine part sizing, auto body repair, and interior and exterior cleaning. These products are also used to clean the insides of pipes, smooth welds, smooth edges, and surfaces that will be oiled, fitted, polished, or painted. Coated and non-woven products are used to refinish car bodies, whereas grinding wheels are used on cars. This high demand from various applications in the automotive industry directly supports the industry's growth.

Threat:

Lack of Raw Material Availability and Stringent Regulations

Aluminum oxide, silicon carbide, cubic boron nitride, synthetic diamond, and ceramics are the most common abrasive raw materials. These raw materials come from renewable resources like petroleum. Depletion of these resources reduces raw material availability, limiting market growth. Furthermore, rising concerns about environmental protection and pollution prevention have resulted in governments taking action and imposing stringent regulations on the use of this product, restricting market growth.

Covid-19 Impact

The pandemic of COVID-19 had a negative impact on the abrasives market. The pandemic caused a global supply chain shift, affecting industries such as metal fabrication, machinery, automotive, and others, resulting in disruption and a decrease in demand for the product. Manufacturers keep optimal inventory levels in order to continue developing abrasive products. Abrasive manufacturers are collaborating with alternative suppliers to ensure stable supply chains. To ensure company continuity, they are developing a balanced partnership with distributors and ecosystem partners. As a result, the global abrasives market is expected to rebound from a recent economic downturn and expand further over the forecast period.

The Synthetic segment is expected to be the largest during the forecast period

The synthetic segment is expected to be the largest during the forecast period. As synthetic abrasives, ceramic, borazon, and silicon carbide are used. The products aid in providing a mirror finish to machined components in the manufacturing sector. Growing manufacturing sectors in India and China as a result of favourable government initiatives will boost product demand extensively, resulting in the segments' growth.

The Metal Fabrication segment is expected to have the highest CAGR during the forecast period

During the forecast period, the metal fabrication segment is expected to grow at the highest CAGR. This fabrication method is used to create metal structures by bending, cutting, and assembling them. This product is used to shape metals with cut-off saws, also known as chop saws, and steel-cutting abrasive discs. Fiber discs and flap discs are two other metal fabrication products that are commonly used for grinding down metals and blending the surfaces. Furthermore, growth in developing economies' manufacturing sectors is expected to boost demand for heavy machinery, resulting in increased product consumption and market growth.

Region with largest share:

During the forecast period, Asia Pacific is expected to be the largest region. In 2021, the APAC region dominated 54% of the market. This is due to technological advancements, as well as a growing construction industry, which will support the product's demand in China, Japan, and India. China is the largest consumer due to high metal fabrication and machinery demand in this region. Moreover, growing infrastructure development in the region will encourage the construction of walkways, which will increase product demand.

Region with highest CAGR:

Because of rising product demand from the automotive and aerospace and defence industries, North America is expected to witness the highest CAGR growth during the forecast period. Despite the decline in 2020 due to the pandemic, the region's increasing emphasis on the production of EVs, combined with the resumption of aircraft manufacturing operations, is expected to benefit market growth in the coming years.

Key players in the market

Some of the key players profiled in the Abrasives Market include Asahi Diamond Industrial Co. Ltd, CMC Materials, Dewalt, Fujimi Incorporated, Klingspor, 3M, Abrasive Technology Inc., Allied High Tech Products Inc., Almatis GmbH, DowDuPont Inc., Jason Incorporated, KREBS and RIEDEL, ARC Abrasives Inc, Radiac Abrasives, Robert Bosch GmbH and Saint Gobain Abrasive.

Key Developments:

In February 2022, Carborundum Universal Ltd (CUMI), through its subsidiary CUMI Abrasives GmbH, based in Germany, announced a contract to purchase 100% stake in RHODIUS Abrasives. This acquisition is expected to enhance the geographical expanse of the company

In May 2021, Norton Quantum Prime Grinding Wheels with unique, proprietary nano-crystalline ceramic grain was launched by Saint-Gobain Abrasives, offering exceptional productivity benefits across a wide range of applications

Materials Covered:
• Natural
• Synthetic

Types Covered:
• Bonded abrasives
• Coated abrasives
• Super abrasives
• Other Types

End Users Covered:
• Metal fabrication
• Aerospace
• Automotive
• Machinery
• Electrical & electronics equipment
• Other End Users

Regions Covered:

• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements