Abrasive Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Natural and Synthetic), Type [Bonded Abrasives (Discs, Wheels, and Others) and Coated Abrasives (Flap Discs, Fiber Discs, Hook and Loop Discs, Belts, Rolls, and Others)], Application (Automotive, Aerospace, Marine, Metal Fabrication, Woodworking, Electrical and Electronics, and Others), and Sales Channel (Direct and Indirect)
The abrasive market size was valued at US$ 34.81 billion in 2022 and is expected to reach US$ 50.99 billion by 2030; it is estimated to register a CAGR of 4.9% from 2022 to 2030.
Abrasives are made of extremely hard materials that are used to process other materials by wearing the surface of the material to be processed. Abrasives are of natural or synthetic origin. They are distinguished by their degree of hardness. Abrasives are highly used for various industrial processing. The major factors driving the growth of the abrasives market are the growing automotive and metal fabrication industry and the rising demand for abrasives from the electrical and electronics industry. Abrasives are used in a broad range of applications such as surface grinding, deburring, polishing, and casting for wheel manufacturing; cutting & grinding body components.
In terms of type, the abrasive market is segmented into bonded abrasives (discs, wheels, others) and coated abrasives (flap discs, fiber discs, hook and loop discs, belts, rolls, others). Bonded abrasives segment is expected to register the highest CAGR in the abrasive market from 2022 to 2030. Bonded abrasives are manufactured by combining grains with bonding agents, shaping the mixture, and then firing or baking the resultant product. Bonded abrasives are attached to a binder; the commonly used binders in abrasives are of rubber, glass, resin, or clay. Bonded abrasives are used with a drill or rotary tool. Grinding discs are widely used in metal fabrication applications and are available in various sizes and thicknesses. Grinding wheels with bonded abrasives have several shapes. Some of the wheel types are depressed center wheels, cup-shaped wheels, recessed wheels, tapered body wheels, straight wheels, diamond-type, cut-off type, and others. The ‘others’ category includes mounted points, cones, and segments. Sponge mounted point is a kind of abrasive tool that is made of high-quality polishing sand and special chemicals.
Based on sales channel, the market is segmented into direct, and indirect. The indirect segment held the largest share of the abrasive market in 2022. Indirect sales channels include sales of abrasive products through dealers, subdealers, wholesalers, distributors, retailers, and different online portals. Abrasive manufacturers prefer selling their products through indirect sales channels for wider reach. Indirect sales channels help reach a larger customer base and increase brand awareness. Direct sales channels include the sale of abrasive products from abrasive manufacturers through their supply agreements with manufacturers from various end-use industries. Other benefits of buying directly from a manufacturer include expert service, lower prices, and customization of products to suit their needs. All these benefits influence customers from various industries to purchase abrasives directly from manufacturers.
In the abrasive market, Midde East & Africa is expected to register the highest CAGR during 2022-2030. Countries in the Middle East & Africa are rapidly developing their public infrastructure, including airports, hospitals, and administrative buildings. This has resulted in the spurred demand for abrasives. A surge in demand for abrasives in residential building construction, coupled with rapid urbanization in the region, has enhanced construction activities, which is expected to support the abrasive market during the forecast period. The construction of shopping malls and commercial complexes has increased due to the rising tourism industry and the growing number of immigrants. Governments in the Middle East & Africa are investing heavily in large-scale construction projects, including iconic skyscrapers, modern transportation networks, and expansive residential and commercial complexes.
According to the United Nations Development Programme, in the Arab region, the total population residing in urban areas reached 55.8% in 2015 and will continue to grow to 58% by 2030. Rapid urbanization, along with an increase in government spending on infrastructure development through programs such as Saudi Vision 2030 and Abu Dhabi Economic Vision 2030 in the Middle East & Africa, is accelerating construction activities. This emphasis on infrastructure expansion has created a sustained need for abrasives. Therefore, the utilization of volumes of abrasives in the construction of commercial buildings is expected to provide significant growth opportunities to the market players.
A few players operating in the global abrasive market include 3M Co, Saint-Gobain, Sia Abrasives Industries AG, Deerfos Co Ltd, Tyrolit Schleifmittelwerke Swarovski AG & Co KG, Cumi Awuko Abrasives Gmbh, Robert Bosch GmbH, Ekamant AB, Sun Abrasives Co Ltd, and SAIT Abrasivi SpA. Players operating in the global abrasive market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.
The overall global abrasive market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the abrasive market.
Progressive industry trends in the abrasive market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the abrasive market from 2020 to 2030
Estimation of the demand for abrasives across various industries
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
Recent developments to understand the competitive market scenario and the demand for abrasives across the globe
Market trends and outlook coupled with factors driving and restraining the growth of the abrasive market.
Decision-making process by understanding strategies that underpin commercial interest concerning the global abrasive market growth
The global abrasive market size at various nodes of market
Detailed overview and segmentation of the abrasive market as well as its dynamics in the industry
The abrasive market size in different regions with promising growth opportunitiesProgressive industry trends in the abrasive market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the abrasive market from 2020 to 2030
Estimation of the demand for abrasives across various industries
Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
Recent developments to understand the competitive market scenario and the demand for abrasives across the globe
Market trends and outlook coupled with factors driving and restraining the growth of the abrasive market.
Decision-making process by understanding strategies that underpin commercial interest concerning the global abrasive market growth
The global abrasive market size at various nodes of market
Detailed overview and segmentation of the abrasive market as well as its dynamics in the industry
The abrasive market size in different regions with promising growth opportunities