Global Abrasives Markett- By Reinforcement Type, By Technology Type, By End-Use Industry, By Geography & Industry Forecast, 2022-2030

Abrasives Market Overview:

The abrasives Market size is estimated to reach $60.2 billion by 2030, growing at a CAGR of 4.36% during the forecast period 2023-2030. Increasing demand for Abrasives in the Construction Industry, Abrasives Use in Electronics and Semiconductor Industry, Growing Automotive Industry is the Major Driver Enhancing the Market Growth.

Additionally, Growing Technological Advancements is a Major Opportunity in the Market. Industry 4.0 technologies, including automation, robotics, and data-driven manufacturing, are transforming various industries. These advancements require specialized abrasive solutions to optimize manufacturing processes, improve efficiency, and ensure consistent quality. For instance, Saint-Gobain Abrasives established extremely broad array of grinding process development solutions in August, 2022, which can be useful to customers in many fields, such as automotive, aerospace, metal fabrication, medical, molding, and many more, the new APS robotic automation cell, which is the heart of the APS program, is one of the most comprehensive abrasive automation cells in the world. Abrasive manufacturers are developing abrasives that can be integrated with automated systems, enabling precise and efficient material removal, grinding, or polishing operations. These factors positively influence the Abrasives industry outlook during the forecast period.

Abrasives Market - Report Coverage:

The “Abrasives Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Abrasives Market.

COVID-19 / Ukraine Crisis - Impact Analysis:

• The market was negatively impacted by the COVID-19 pandemic in 2020. Considering the pandemic, the activities of various end-user industries of abrasives, including metal manufacturing, construction, and other industrial activities, were temporarily halted during the lockdown, leading to a decrease in demand for abrasives. However, the construction industry is expected to positively impact the market's growth in the coming years.
• Russia and Ukraine are significant producers and exporters of raw materials used in abrasive manufacturing, such as minerals (e.g., silicon carbide, aluminum oxide) and natural diamonds for super abrasives. The conflict could disrupt the supply chain and lead to fluctuations in raw material availability, which affected global abrasive manufacturers' production capabilities.

Key Takeaways:

• Fastest Growth of APAC Region

Geographically, in the global Abrasives market share, APAC is analyzed to grow with the highest CAGR of 5.4% during the forecast period 2023-2030. The APAC region has experienced rapid industrialization and urbanization over the past few decades. This growth has led to increased construction activities, infrastructure development, and manufacturing sectors, all of which are major consumers of abrasives for cutting, grinding, and polishing applications.

• Silicon Carbide to Register the Fastest Growth

In the Abrasives Market analysis, the Silicon Carbide segment is estimated to grow with the highest CAGR of 5.5% during the forecast period. Silicon Carbide (SiC) is a very hard and durable material, making it ideal for abrasive applications. It offers superior hardness and wear resistance compared to other abrasives like aluminum oxide or garnet. This characteristic makes it highly effective in cutting, grinding, and polishing applications, particularly for hard materials.

• Disc is Leading the Market

According to the Abrasives Market forecast, the Disc held the largest market valuation of $22.02 billion in 2022. Advances in abrasive disc manufacturing technologies have led to the development of more efficient and durable discs. These advancements can include new bonding agents, improved abrasive materials, and innovative designs, leading to increased adoption of specific disc segments. For instance, In April 2023, Zaphiro introduced new ceramic discs. It provides better cutting performance and longer useful life than conventional abrasives since the sheet metal and paint operator does not have to change them as frequently.

• Increasing Use of Abrasives in the Construction Industry 

Abrasives are utilized in metalworking applications such as weld preparation and welding seam smoothing in the construction of bridges and structures. The increasing focus on infrastructure development worldwide has led to a rise in construction projects involving bridges, tunnels, highways, and airports. According to Designing Buildings company, construction volumes are increasing globally by an average of 3.2% a year. Over the longer term from 2023 to 2030, the volume of construction output is projected to increase by an average of 2.3% a year globally.

• Abrasives Use in Electronics and Semiconductor Industry and its Growth 

Abrasives are used to make printed circuit boards (PCBs), which are essential components of electronic devices such as computers, laptops, routers, and other devices. Abrasives are utilized to make electronic devices that are used in the digitalization process. According to The Semiconductor Industry Association (SIA) global semiconductor industry sales totaled $574.1 billion in 2022, the highest-ever annual total and an increase of 3.3% compared to the 2021 total of $555.9 billion. The growing semiconductor industry is boosting market growth.

• Lack of Raw Material Availability is hindering the Growth of The Market 

Aluminum oxide, silicon carbide, cubic boron nitride, synthetic diamond, and ceramics are among the most popular raw materials used to make abrasives. These raw materials are obtained from renewable resources such as petroleum. Depleting these resources results in lowering raw materials availability, thus restricting market growth. 

Abrasives Market Share (%) By Region, 2022

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Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Abrasives Market. The top 10 companies in this industry are listed below:

1. 3M Company
2. Cosentino S.A.
3. Henkel AG & Co.
4. Saint-Gobain Abrasives, Inc.
5. Robert Bosch GmbH
6. Henkel AG & Co.
7. Hermes Abrasives
8. Dupont
9.  Fujimi Incorporated
10. Asahi Diamond Industrial Co., Ltd. 

Scope of the Report: