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Abrasives Market Size (2024 - 2029)

The abrasives market is projected to experience significant growth over the forecast period, driven by increased demand in the construction and automotive sectors. Despite the challenges posed by stringent regulations on silica abrasives, the market is anticipated to expand, with research and development investments providing additional growth opportunities. The Asia-Pacific region is expected to lead the market, supported by development in key countries. The market's recovery from the COVID-19 impact further underscores its potential for steady expansion.

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Market Size of Abrasives Industry

Abrasives Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 47.34 Billion
Market Size (2029) USD 66.83 Billion
CAGR (2024 - 2029) > 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Abrasives Market Major Players

*Disclaimer: Major Players sorted in no particular order

Abrasives Market Analysis

The Abrasives Market size is estimated at USD 47.34 billion in 2024, and is expected to reach USD 66.83 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The COVID-19 pandemic negatively affected the abrasives market. However, after the pandemic, the rising demand for abrasives from industries like construction and automotive has helped revive the market.

  • Over the short term, the increasing use of abrasives in the aerospace and automotive industries and the growing metal manufacturing and fabrication industries are the major factors expected to drive the market.
  • However, stringent regulations on the usage of abrasives are expected to hinder the market's growth.
  • Nevertheless, growing research and development activities are expected to create new opportunities for the abrasives market.
  • Asia-Pacific is expected to dominate the market during the forecast period owing to growing developments in major countries such as India, China, and Japan.

Abrasives Industry Segmentation

Abrasives are materials or substances that wear away or remove material from surfaces through friction or rubbing. Commonly found in forms like powders, pastes, and solid blocks, abrasives shape and clean or polish surfaces. Their applications span across the metal manufacturing, electronics, automotive, and aerospace industries.

The abrasives market is segmented by material, type, end-user industry, and geography. By material, the market is segmented into natural abrasives and synthetic abrasives. By type, the market is segmented into bonded abrasives, coated abrasives, and super abrasives. By end-user industry, the market is segmented into metal manufacturing, electronics, construction, automotive and aerospace, medical, oil and gas, and other end-user industries. The report also covers the market sizes and forecasts for the global abrasives market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of value (USD).

Material
Natural Abrasives
Synthetic Abrasives
Type
Bonded Abrasives
Coated Abrasives
Super Abrasives
End-user Industry
Metal Manufacturing
Electronics
Construction
Automotive and Aerospace
Medical
Oil and Gas
Other End-user Industries (Industrial and Agriculture)
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle East and Africa
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Abrasives Market Size Summary

The abrasives market is poised for significant growth, driven by increasing demand in the construction and automotive sectors. The market, which experienced a downturn due to the COVID-19 pandemic, has rebounded to pre-pandemic levels and is expected to continue its upward trajectory. The automotive industry, in particular, is a major consumer of abrasives, utilizing them in the production of light and fuel-efficient vehicles. The aerospace sector also relies heavily on abrasives for various manufacturing processes, including the cutting and polishing of turbine components. However, the market faces challenges from stringent regulations on silica abrasives, although ongoing research and development efforts present opportunities for expansion. The Asia-Pacific region is anticipated to lead the market growth, supported by robust industrial activities in countries like China, India, and Japan.

The Asia-Pacific region's dominance in the abrasives market is attributed to its thriving construction, automotive, aerospace, and electronics industries. China's rapid urbanization and infrastructure development, along with South Korea's large-scale redevelopment projects, are significant contributors to the region's demand for abrasives. Additionally, India's burgeoning electronics sector, bolstered by favorable government policies, is expected to further drive market growth. The aerospace industry in the region is also set to expand, with substantial investments anticipated. The market is characterized by a fragmented landscape, with key players such as Saint Gobain, 3M, and Klingspor India Pvt Ltd actively participating in strategic acquisitions to enhance their market presence. These factors collectively underscore the promising outlook for the abrasives market in the coming years.

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Abrasives Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Use in the Aerospace and Automotive Industries

      2. 1.1.2 Growing Metal Manufacturing and Fabrication Industries

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Stringent Regulations on Usage of Abrasives

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Material

      1. 2.1.1 Natural Abrasives

      2. 2.1.2 Synthetic Abrasives

    2. 2.2 Type

      1. 2.2.1 Bonded Abrasives

      2. 2.2.2 Coated Abrasives

      3. 2.2.3 Super Abrasives

    3. 2.3 End-user Industry

      1. 2.3.1 Metal Manufacturing

      2. 2.3.2 Electronics

      3. 2.3.3 Construction

      4. 2.3.4 Automotive and Aerospace

      5. 2.3.5 Medical

      6. 2.3.6 Oil and Gas

      7. 2.3.7 Other End-user Industries (Industrial and Agriculture)

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Malaysia

        6. 2.4.1.6 Thailand

        7. 2.4.1.7 Indonesia

        8. 2.4.1.8 Vietnam

        9. 2.4.1.9 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Spain

        6. 2.4.3.6 NORDIC Countries

        7. 2.4.3.7 Turkey

        8. 2.4.3.8 Russia

        9. 2.4.3.9 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Colombia

        4. 2.4.4.4 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 Qatar

        3. 2.4.5.3 United Arab Emirates

        4. 2.4.5.4 Nigeria

        5. 2.4.5.5 Egypt

        6. 2.4.5.6 South Africa

        7. 2.4.5.7 Rest of Middle East and Africa

Abrasives Market Size FAQs

The Abrasives Market size is expected to reach USD 47.34 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 66.83 billion by 2029.

In 2024, the Abrasives Market size is expected to reach USD 47.34 billion.

Abrasives Market Report Snapshots

Abrasives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)