Market Insights and Analysis: Global Abrasives Market Overview and Projections (2024-2030)
The Global Abrasives Market size was valued at USD 35.5 Billion in 2022 and is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2024-30. The market is projected to experience significant growth in the coming years due to the surge in construction & manufacturing activities worldwide. The demand for abrasives in the construction industry for woodworking, fabrication, metal components, and other uses is particularly high in various developing countries. As a result, abrasives manufacturers have the immense potential to capitalize on these opportunities and achieve substantial revenue & market share.
Top leading companies in the Global Abrasives Market includes:
Robert Bosch GMBH, 3M Company, Saint-Gobain Abrasives, Inc., Fujimi Incorporated, Asahi Diamond Industrial Co., Ltd., Cumi Murugappa Group (Carborundum Universal Limited), Mirka Ltd., Henkel AG & Co. KGaA, Nippon Resibon Corporation, Sankyo Rikagaku Co., Ltd., Noritake Co. Ltd., Tyrolit Group, Boride Engineered Abrasives, Flexovit USA, Inc., Abrasive Technology.
Global Abrasives Market Driver:
The Automotive Industry’s Growing Demand for Abrasives: Since abrasives find substantial application across the automotive industry for repairing engine parts, auto body, and interior & exterior cleaning, among other applications, their demand is hiking worldwide. In fact, these materials are also used for cleaning the insides of components like pipes, smooth welds, edges, & surfaces for fitting, oiling, polishing, or painting. Such applications are augmenting the demand for abrasives across the automotive industry and driving the abrasives market.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Type
-Coated Abrasive
-Bonded Abrasive
By Bonding Agents
-Vitreous
-Resin
-Metal Bonded
-Electroplated
-Rubber
-Others
-Super Abrasive
By Raw Material
-Synthetic
-Aluminum oxide
-Metallic abrasives
-Silicon carbide
-Others
-Natural
By Application
-Machinery
-Aerospace
-Metal Fabrication
-Automotive
-Electrical & Electronics
-Others.
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Global Abrasives Market Geographic Reach:
The Geographic Reach of the Global Abrasives Market evaluates the spread and significance of Global Abrasives market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: USA, Canada, Mexico
- Europe: Germany, UK, France, Italy, Spain
- Asia-Pacific: China, India, Japan, South Korea
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, South Africa, Algeria, Morocco.
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