Abrasives are products employed in the finishing or shaping of workpieces through friction, typically involving minerals that induce wear and tear. This process is akin to polishing, where the surface is roughened to achieve matte or satin finishes, resulting in a reflective and smooth surface. Abrasives find widespread application in the production of automobiles, airplanes, space vehicles, as well as in the manufacturing of mechanical and electrical appliances, and various types of machinery.
There are two main categories of raw materials used in abrasives such as natural and synthetic. Natural abrasives utilize raw materials sourced directly from nature. Diamond, corundum, and emery are examples of natural abrasives found in natural deposits, which can be mined and processed with minimal modification. Abrasives come in different types, including bonded abrasives, coated abrasives, super precision abrasives, and super construction abrasives. They are available in various forms such as block and powdered forms. Abrasives serve diverse purposes, including grinding, cutting, polishing, drilling, finishing, and more. End-users of abrasives span a range of industries, including automotive, machinery, aerospace, electrical and electronics, construction, and furniture.
The abrasives market research report is one of a series of new reports that provides abrasives market statistics, including abrasives industry global abrasives market size, regional shares, competitors with an abrasives market share, detailed abrasives market segments, market trends and opportunities, and any further data you may need to thrive in the abrasives industry. This abrasives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The abrasives market size has grown strongly in recent years. It will grow from $43.12 billion in 2023 to $47.19 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth observed in the historic period can be attributed to various factors, including construction and infrastructure development, increased urbanization, a rise in industrialization, an increase in disposable income, and a growing demand for sustainable and eco-friendly materials.
The abrasives market size is expected to see strong growth in the next few years. It will grow to $64.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for abrasives in heavy-duty applications, a rising need for abrasives in the aerospace industry, a growing demand for coated abrasives in the electronic industry, an increased emphasis on safety and ergonomics in the design of abrasives equipment, and a growing adoption of green building standards. Key trends expected in the forecast period encompass advancements in abrasives technology, a focus on sustainability, customization and specialization in abrasives, the integration of digitalization in the abrasives industry, and the application of abrasives in 3D printing processes.
The expanding electric vehicle (EV) industry is anticipated to drive the growth of the abrasives market. Electric vehicles, relying on electric motors and charged at dedicated stations rather than internal combustion, have witnessed a significant surge in demand. The global road network is expected to witness widespread deployment of EV charging stations to accommodate the continuous growth of electric cars. This surge in demand is directly linked to the need for stainless steel, along with the corresponding abrasives required for finishing. Stainless steel used in various components, especially in the construction of EV charging stations, typically requires abrasive treatments such as grinding and polishing. According to 'Power Technology,' EV sales have experienced substantial growth, with a 160 percent year-over-year increase to 2.6 million vehicles in the first half of 2021, constituting 26 percent of new vehicle sales worldwide. Hence, the rise in the electric vehicle industry is a driving force behind the growth of the abrasives market.
The increasing demand in the aerospace sector is poised to propel the growth of the abrasives market. Aerospace, encompassing the design, development, production, and operation of aircraft, spacecraft, and related systems, relies heavily on abrasives for manufacturing, maintenance, and repair processes. Abrasives play a crucial role in ensuring safety, efficiency, and cost-effectiveness while meeting the stringent standards of precision and quality in the aerospace industry. For example, data from Cadrex in August 2023 indicates that aerospace industry revenue reached $741 billion in 2022, marking a 3% increase from 2021. The growing demand in the aerospace sector is a significant driver for the expansion of the abrasives market.
Major companies in the abrasives market are adopting a strategic partnerships approach to enhance their market presence. Strategic partnerships involve leveraging the strengths and resources of partner companies for mutual benefits and success. For instance, in October 2023, Compagnie de Saint-Gobain S. A., a France-based company involved in the production of building materials and high-performance materials, entered into a partnership with Dedeco International Inc. This collaboration allows Saint-Gobain Abrasives to sell Dedeco's sunburst range of thermoplastic-bonded abrasives, including brushes and discs with radial bristles for polishing, deburring, cleaning, and finishing metals and other materials. The aim of this partnership is to broaden the selection of abrasives offered by Saint-Gobain Abrasives to its clientele in North America. Dedeco International Inc., based in the US, specializes in the manufacturing of specialty abrasives.
Major companies in the abrasives market are strategically focusing on innovative products to drive revenues and enhance their market positions. Product innovations in abrasives involve the development of new abrasive materials, shapes, or technologies to improve the efficiency and effectiveness of cutting, grinding, or polishing processes. For example, in June 2021, Harsco Corporation, a US-based company specializing in manufacturing abrasives, introduced two innovative products including sure/cut edge and sure/cut velocity. Sure/cut edge is an enhanced nickel abrasive material designed to reduce crystalline silica and heavy metal content, along with lower consumption rates and dust production, providing an additional cost-saving advantage. Sure/cut velocity, on the other hand, is an improved calcium-iron silicate abrasive material that offers superior cleaning rates, consumption rates, and final product quality on various surfaces and coatings. These innovations from Harsco Corporation aim to provide advanced solutions for cutting, grinding, and polishing applications.
In September 2023, Summit Brands, a US-based consumer goods company, acquired US Pumice Company for an undisclosed amount. This strategic acquisition aligns with Summit Brands' commitment to delivering environmentally friendly and efficient cleaning solutions to clients and consumers. The acquisition is expected to expand Summit Brands' product selection, providing consumers with a broader range of cleaning options. US Pumice Company, operating in the abrasives sector, adds value to Summit Brands' portfolio.
Major companies operating in the in the abrasives market market report are Robert Bosch GmbH, Minnesota Mining and Manufacturing Company, Saint-Gobain Abrasives Inc., Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit India Tool Pvt. Ltd., Asahi Diamond Industrial Co. Ltd., Deerfos Co. Ltd., Carborundum Universal Limited, Nippon Resibon Corporation, Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG, Abrasiflex Pty Ltd., Noritake Co. Ltd., Sankyo-Rikagaku Co. Ltd., Sia Abrasives Industries AG, Jason Incorporated, Schaffner Manufacturing Company Inc., North Industries Group Red Arrow Co. Ltd., 3M Deutschland GmbH, SAK ABRASIVES Inc., ARC Abrasives Inc., Arconic Corporation, DowDuPont Inc., Fiven ASA, Henan Huanghe Whirlwind Co. Ltd., Hermes Schleifmittel GmbH & Co. KG, Imerys S. A, Jowitt & Rodgers Co., Klingspor AG, Grindwell Norton Ltd., Luossavaara-Kiirunavaara AktiebolagMinerals AB, Mirka Ltd., Pferd Pharmaceutical Private Limited, Suhner Holding AG, Vereinigte Schmirgel- und Maschinen-Fabriken AG., Wendt (India) Limited, WINOA IKK JAPAN Co. Ltd., Y. Ikemura & Co. Ltd., Zische Schleifwerkzeuge GmbH
Asia-Pacific was the largest region in the abrasives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the abrasives market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the abrasives market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The abrasives market consists of sales of paper, fabric, films, grinding wheels, and sand disks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
There are two main categories of raw materials used in abrasives such as natural and synthetic. Natural abrasives utilize raw materials sourced directly from nature. Diamond, corundum, and emery are examples of natural abrasives found in natural deposits, which can be mined and processed with minimal modification. Abrasives come in different types, including bonded abrasives, coated abrasives, super precision abrasives, and super construction abrasives. They are available in various forms such as block and powdered forms. Abrasives serve diverse purposes, including grinding, cutting, polishing, drilling, finishing, and more. End-users of abrasives span a range of industries, including automotive, machinery, aerospace, electrical and electronics, construction, and furniture.
The abrasives market research report is one of a series of new reports that provides abrasives market statistics, including abrasives industry global abrasives market size, regional shares, competitors with an abrasives market share, detailed abrasives market segments, market trends and opportunities, and any further data you may need to thrive in the abrasives industry. This abrasives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The abrasives market size has grown strongly in recent years. It will grow from $43.12 billion in 2023 to $47.19 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth observed in the historic period can be attributed to various factors, including construction and infrastructure development, increased urbanization, a rise in industrialization, an increase in disposable income, and a growing demand for sustainable and eco-friendly materials.
The abrasives market size is expected to see strong growth in the next few years. It will grow to $64.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for abrasives in heavy-duty applications, a rising need for abrasives in the aerospace industry, a growing demand for coated abrasives in the electronic industry, an increased emphasis on safety and ergonomics in the design of abrasives equipment, and a growing adoption of green building standards. Key trends expected in the forecast period encompass advancements in abrasives technology, a focus on sustainability, customization and specialization in abrasives, the integration of digitalization in the abrasives industry, and the application of abrasives in 3D printing processes.
The expanding electric vehicle (EV) industry is anticipated to drive the growth of the abrasives market. Electric vehicles, relying on electric motors and charged at dedicated stations rather than internal combustion, have witnessed a significant surge in demand. The global road network is expected to witness widespread deployment of EV charging stations to accommodate the continuous growth of electric cars. This surge in demand is directly linked to the need for stainless steel, along with the corresponding abrasives required for finishing. Stainless steel used in various components, especially in the construction of EV charging stations, typically requires abrasive treatments such as grinding and polishing. According to 'Power Technology,' EV sales have experienced substantial growth, with a 160 percent year-over-year increase to 2.6 million vehicles in the first half of 2021, constituting 26 percent of new vehicle sales worldwide. Hence, the rise in the electric vehicle industry is a driving force behind the growth of the abrasives market.
The increasing demand in the aerospace sector is poised to propel the growth of the abrasives market. Aerospace, encompassing the design, development, production, and operation of aircraft, spacecraft, and related systems, relies heavily on abrasives for manufacturing, maintenance, and repair processes. Abrasives play a crucial role in ensuring safety, efficiency, and cost-effectiveness while meeting the stringent standards of precision and quality in the aerospace industry. For example, data from Cadrex in August 2023 indicates that aerospace industry revenue reached $741 billion in 2022, marking a 3% increase from 2021. The growing demand in the aerospace sector is a significant driver for the expansion of the abrasives market.
Major companies in the abrasives market are adopting a strategic partnerships approach to enhance their market presence. Strategic partnerships involve leveraging the strengths and resources of partner companies for mutual benefits and success. For instance, in October 2023, Compagnie de Saint-Gobain S. A., a France-based company involved in the production of building materials and high-performance materials, entered into a partnership with Dedeco International Inc. This collaboration allows Saint-Gobain Abrasives to sell Dedeco's sunburst range of thermoplastic-bonded abrasives, including brushes and discs with radial bristles for polishing, deburring, cleaning, and finishing metals and other materials. The aim of this partnership is to broaden the selection of abrasives offered by Saint-Gobain Abrasives to its clientele in North America. Dedeco International Inc., based in the US, specializes in the manufacturing of specialty abrasives.
Major companies in the abrasives market are strategically focusing on innovative products to drive revenues and enhance their market positions. Product innovations in abrasives involve the development of new abrasive materials, shapes, or technologies to improve the efficiency and effectiveness of cutting, grinding, or polishing processes. For example, in June 2021, Harsco Corporation, a US-based company specializing in manufacturing abrasives, introduced two innovative products including sure/cut edge and sure/cut velocity. Sure/cut edge is an enhanced nickel abrasive material designed to reduce crystalline silica and heavy metal content, along with lower consumption rates and dust production, providing an additional cost-saving advantage. Sure/cut velocity, on the other hand, is an improved calcium-iron silicate abrasive material that offers superior cleaning rates, consumption rates, and final product quality on various surfaces and coatings. These innovations from Harsco Corporation aim to provide advanced solutions for cutting, grinding, and polishing applications.
In September 2023, Summit Brands, a US-based consumer goods company, acquired US Pumice Company for an undisclosed amount. This strategic acquisition aligns with Summit Brands' commitment to delivering environmentally friendly and efficient cleaning solutions to clients and consumers. The acquisition is expected to expand Summit Brands' product selection, providing consumers with a broader range of cleaning options. US Pumice Company, operating in the abrasives sector, adds value to Summit Brands' portfolio.
Major companies operating in the in the abrasives market market report are Robert Bosch GmbH, Minnesota Mining and Manufacturing Company, Saint-Gobain Abrasives Inc., Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit India Tool Pvt. Ltd., Asahi Diamond Industrial Co. Ltd., Deerfos Co. Ltd., Carborundum Universal Limited, Nippon Resibon Corporation, Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG, Abrasiflex Pty Ltd., Noritake Co. Ltd., Sankyo-Rikagaku Co. Ltd., Sia Abrasives Industries AG, Jason Incorporated, Schaffner Manufacturing Company Inc., North Industries Group Red Arrow Co. Ltd., 3M Deutschland GmbH, SAK ABRASIVES Inc., ARC Abrasives Inc., Arconic Corporation, DowDuPont Inc., Fiven ASA, Henan Huanghe Whirlwind Co. Ltd., Hermes Schleifmittel GmbH & Co. KG, Imerys S. A, Jowitt & Rodgers Co., Klingspor AG, Grindwell Norton Ltd., Luossavaara-Kiirunavaara AktiebolagMinerals AB, Mirka Ltd., Pferd Pharmaceutical Private Limited, Suhner Holding AG, Vereinigte Schmirgel- und Maschinen-Fabriken AG., Wendt (India) Limited, WINOA IKK JAPAN Co. Ltd., Y. Ikemura & Co. Ltd., Zische Schleifwerkzeuge GmbH
Asia-Pacific was the largest region in the abrasives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the abrasives market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the abrasives market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The abrasives market consists of sales of paper, fabric, films, grinding wheels, and sand disks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Abrasives Market Characteristics3. Abrasives Market Trends And Strategies31. Global Abrasives Market Competitive Benchmarking32. Global Abrasives Market Competitive Dashboard33. Key Mergers And Acquisitions In The Abrasives Market
4. Abrasives Market - Macro Economic Scenario
5. Global Abrasives Market Size and Growth
6. Abrasives Market Segmentation
7. Abrasives Market Regional And Country Analysis
8. Asia-Pacific Abrasives Market
9. China Abrasives Market
10. India Abrasives Market
11. Japan Abrasives Market
12. Australia Abrasives Market
13. Indonesia Abrasives Market
14. South Korea Abrasives Market
15. Western Europe Abrasives Market
16. UK Abrasives Market
17. Germany Abrasives Market
18. France Abrasives Market
19. Italy Abrasives Market
20. Spain Abrasives Market
21. Eastern Europe Abrasives Market
22. Russia Abrasives Market
23. North America Abrasives Market
24. USA Abrasives Market
25. Canada Abrasives Market
26. South America Abrasives Market
27. Brazil Abrasives Market
28. Middle East Abrasives Market
29. Africa Abrasives Market
30. Abrasives Market Competitive Landscape And Company Profiles
34. Abrasives Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Abrasives Market Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on abrasives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description:
Where is the largest and fastest growing market for abrasives market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
- Markets Covered: 1) By Raw Material: Natural; Synthetic 2) By Type: Bonded Abrasives; Coated Abrasives; Super Precision Abrasives; Super Construction Abrasives 3) By Form: Block Form; Powdered Form 4) By Application: Grinding; Cutting; Polishing; Drilling; Finishing; Other Applications 5) By End User: Automotive; Machinery; Aerospace; Electrical & Electronics; Construction; Furniture
- Companies Mentioned: Robert Bosch GmbH; Minnesota Mining and Manufacturing Company; Saint-Gobain Abrasives Inc.; Fujimi Incorporated; Henkel AG & CO. KGAA
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Robert Bosch GmbH
- Minnesota Mining and Manufacturing Company
- Saint-Gobain Abrasives Inc.
- Fujimi Incorporated
- Henkel AG & CO. KGAA
- Tyrolit India Tool Pvt. Ltd.
- Asahi Diamond Industrial Co. Ltd.
- Deerfos Co. Ltd.
- Carborundum Universal Limited
- Nippon Resibon Corporation
- Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG
- Abrasiflex Pty Ltd.
- Noritake Co. Ltd.
- Sankyo-Rikagaku Co. Ltd.
- Sia Abrasives Industries AG
- Jason Incorporated
- Schaffner Manufacturing Company Inc.
- North Industries Group Red Arrow Co. Ltd.
- 3M Deutschland GmbH
- SAK ABRASIVES Inc.
- ARC Abrasives Inc.
- Arconic Corporation
- DowDuPont Inc.
- Fiven ASA
- Henan Huanghe Whirlwind Co. Ltd.
- Hermes Schleifmittel GmbH & Co. KG
- Imerys S. A
- Jowitt & Rodgers Co.
- Klingspor AG
- Grindwell Norton Ltd.
- Luossavaara-Kiirunavaara AktiebolagMinerals AB
- Mirka Ltd.
- Pferd Pharmaceutical Private Limited
- Suhner Holding AG
- Vereinigte Schmirgel- und Maschinen-Fabriken AG.
- Wendt (India) Limited
- WINOA IKK JAPAN Co. Ltd.
- Y. Ikemura & Co. Ltd.
- Zische Schleifwerkzeuge GmbH