Abrasive Market Survey, Key Industry Opportunities and Trends Report by 2028

Abrasive Industry Overview

The global abrasive market size is expected to reach USD 47.82 billion by 2028, expanding at a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to be driven by the rising growth in the metal fabrication industry on account of demand from the end-use sectors, such as automotive, aerospace, agriculture, and medical. Abrasives are tools used for shaping and providing a smooth finish to the surface of the product.

U.S. abrasive market size, by product, 2018 - 2028 (USD Billion)

Abrasive Market Segmentation

Grand View Research has segmented the global abrasive market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into Bonded, Coated and Others.

  • The products in this segment have applications in white goods, sanitaryware, furniture, automobile, fabrication, construction, and auto ancillaries. The developments in the stainless steel fabrication and woodworking industries are expected to boost the growth of this product segment over the forecast period.
  • The bonded segment dominated the global market in 2020 accounting for the largest revenue share of over 43%. Bonded abrasives include grinding wheels, snagging wheels, mounted wheels, and others, which are used for precision and rough grinding applications due to their high efficiency and enhance operational capability. The coated product segment is expected to register the fastest growth rate over the forecast period. Coated abrasives include roll, sheet, disc, belt, and flap-wheel products. Rising demand for this product type has compelled companies to expand their production capacities.

Based on the Application Insights, the market is segmented into Automotive & Transportation, Heavy Machinery, Metal Fabrication, Electrical & Electronics Equipment and Others.

  • The automotive & transportation segment held the largest revenue share of more than 35% in 2020. In the automotive industry, abrasives are used for various applications, such as coarse and lacquer sanding. Moreover, super abrasives, in the form of diamond discs, are preferred for grinding and polishing to enhance the surface finish of automotive components.
  • Heavy machinery is amongst the fastest-growing application segments of the market. The product is widely used in metal cutting applications, grinding & crushing of mining equipment, and others.
  • Electrical & electronics equipment is another lucrative application for the product, where it is used for slicing and grinding of electronic components and various hard materials, such as glass, silicon, zirconia, and quartz, to produce circuit components and compact discs. 

Abrasive Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The global market is highly competitive and fragmented owing to the presence of several small- and large-scale players. The companies witnessed revenue losses in 2020 owing to the suspension of automotive operations, which led to a declined demand for abrasives. Thus, companies are adopting several strategic initiatives to overcome their losses and gain a competitive edge.

Some of the prominent players in the global abrasive market include:

  • 3M
  • Asahi Diamond Industrial Co., Ltd.
  • Bosch Ltd.
  • CUMI
  • Henkel AG & Co, KGaA
  • Saint-Gobain

Order a free sample PDF of the Abrasive Market Intelligence Study, published by Grand View Research.

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