The latest report by IMARC Group, titled, “Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on global abrasives market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global abrasives market size reached US$ 47.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 72.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Abrasives Market Overview:
Abrasives are materials specifically engineered to remove the surface layer of other materials through processes such as grinding, polishing, or honing. They come in various forms, including coated abrasives, bonded abrasives, and superabrasives. These materials are composed of hard, sharp particles, such as aluminum oxide, silicon carbide, and diamond, that are ideal for cutting, grinding, and finishing applications. It is utilized in a range of industrial settings, such as manufacturing, construction, and automotive repair. It offers numerous advantages, including high efficiency, precision, and the ability to produce smoother surface finishes. Their versatility makes them integral to operations, including shaping materials, removing surface imperfections, and preparing surfaces for subsequent processes like painting or coating.
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Global Abrasives Market Trends:
The global abrasives market is majorly driven by the increasing demand in the automotive industry for applications such as grinding, finishing, and polishing of vehicle parts. Along with this, the ongoing technological advancements in the sector necessitate the use of abrasives that offer high precision and quality. In addition, the construction industry's robust growth worldwide demands high-quality abrasives for tasks, including cutting, grinding, and polishing of construction materials. Moreover, the escalating shift toward greater efficiency and automation in manufacturing processes requiring abrasives capable of high-speed operations with minimal wear and tear is impacting the market. Apart from this, the trend towards sustainable and eco-friendly materials is leading to the development of organic abrasives that have a lower environmental impact. This caters to regulatory guidelines and appeals to a consumer base increasingly concerned about sustainability. Furthermore, the rise in infrastructure development projects, particularly in emerging economies, is creating a positive market outlook.
Competitive Landscape with Key Players:
- Robert Bosch GmbH
- Dowdupont
- Fujimi Incorporated
- Compagnie De Saint-Gobain S.A.
- Henkel
- 3M Company
- Asahi Diamond Industrial
- Carborundum Universal
- Tyrolit Group
- Nippon Resibon Corporation
- Krebs & Riedel
- Abrasiflex
- Noritake
- Deerfos
- Sankyo-Rikagaku
Key Market Segmentation:
By Product Type:
- Bonded Abrasives
- Coated Abrasives
- Super-abrasives
- Others
Breakup by End-Use:
- Machinery
- Metal Fabrication
- Automotive
- Electronics
- Construction
- Others
Breakup by Material Type:
- Natural Abrasives
- Synthetic Abrasives
Breakup by Region:
- Asia Pacific
- Europe
- North America
- Latin America
- Middle East and Africa
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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