Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Abrasive Market Size is Expected to Grow from USD 40.26 Billion in 2023 to USD 65.19 Billion by 2033, at a CAGR of 4.94% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Abrasive Market Size, Share, and COVID-19 Impact Analysis, By Material (Natural and Synthetic), By Product Type (Bonded, Coated, and Super), By Application (Electrical & Electronics, Metal Fabrication, Machinery, and Automotive & Transportation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Abrasives are substances that are used to polish, rub, and cut workpieces to shape or finish them. Iron oxide, corundum, sandpaper, and calcite are common materials used in technology, industry, and homes. The hardest material for precise grinding is diamond, while there are several varieties based on density and hardness. Natural or manufactured abrasives are substances that employ friction to wear down, grind, or polish surfaces. They are essential for operations like cutting, shaping, and finishing materials like metals, plastics, wood, and ceramics in sectors like manufacturing, construction, and automotive because they are strong and able to tolerate high mechanical stress. The automotive sector's rapid growth is driving the abrasive market, as it plays a crucial role in automobile component manufacturing, reducing emissions and noise levels, and is also influenced by the expansion of the electric vehicle industry. In April 2020, the Indian government offered production-linked incentives to major producers of electronic goods. These incentives are stimulating industrial development in Asia's developing countries, increasing market share, and drawing investments in the production of mobile phones. However, abrasives, primarily made from renewable resources like petroleum, face depletion, limiting market expansion due to environmental concerns, and strict regulations imposed by governments.
The synthetic segment is predicted to hold the highest market share through the forecast period.
Based on the material, the abrasive market is classified into natural and synthetic. Among these, the synthetic segment is predicted to hold the highest market share through the forecast period. Alumina, silicon carbide, and synthetic diamond are examples of synthetic abrasives that refine chemical raw materials or precursors by modifying their purity, crystal structure, and grain shape to meet the requirements of certain applications. It is anticipated that this versatile characteristic will propel the segment's expansion.
The coated segment is anticipated to hold the highest market share during the projected timeframe.
Based on the product type, the abrasive market is divided into bonded, coated, and super. Among these, the coated segment is anticipated to hold the highest market share during the projected timeframe. Grain, a backing material, and bonding glue make up the coated segment, which has a special quality appropriate for a range of uses. The segment's growth is driven by the uses of coated abrasives in consumer goods, fabrication, hand and power tools, general engineering, furniture, and surgical products.
The metal fabrication segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the abrasive market is divided into electrical & electronics, metal fabrication, machinery, and automotive & transportation. Among these, the metal fabrication segment is anticipated to hold the highest market share during the projected timeframe. The threshold or chop saws with steel-cutting abrasive disks are used for bending, cutting, and assembling metal constructions. In addition, there are fiber discs for abrasive disks and flap discs, which are used to grind and smooth metal surfaces.
Asia Pacific is estimated to hold the largest share of the abrasive market over the forecast period.
Asia Pacific is estimated to hold the largest share of the abrasive market over the forecast period. As a result of economic development, industrialization, and the expansion of the automotive, metal fabrication, and machinery industries, the Asia Pacific area is anticipated to grow at a robust CAGR. Important economies include South Korea, Japan, China, and India. China is one of the world's biggest car markets and has made a substantial contribution to the region's development.
North America is predicted to have the fastest CAGR growth in the abrasive market over the forecast period. The sizeable aerospace and military sectors in North America are anticipated to contribute to the abrasive market's dynamic growth throughout the projected period. Furthermore, a major contributor to the growth of the abrasive market in North America is the existence of large automobile manufacturers and machinery companies in the United States.
Company Profiling
Major key players in the abrasive market include Carborundum Universal Limited, Bullard Abrasives, Inc., Osborn Lippert India Private Limited., Hindustan Abrasives, deerfos, Saint-Gobain, Robert Bosch Power Tools GmbH, Sterling Abrasives Limited, 3M Company, SAK ABRASIVES LIMITED, and Others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the abrasive market based on the below-mentioned segments:
Global Abrasive Market, By Material
Global Abrasive Market, By Product Type
Global Abrasive Market, By Application
Global Abrasive Market, By Regional Analysis
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