Abrasives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Abrasives Market report is segmented by material (natural abrasives and synthetic abrasives), type (bonded abrasives, coated abrasives, loose abrasive grains, and super abrasives), end-user industry (metal manufacturing, electronics, construction, automotive and aerospace, medical, oil and gas, and other end-user industries (industrial and agriculture)), and geography (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). The Report Offers Market Size and Forecasts for Revenue (USD) for All the Above Segments.

Abrasives Market Size

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Abrasives Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 47.34 Billion
Market Size (2029) USD 66.83 Billion
CAGR (2024 - 2029) > 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific

Major Players

Abrasives Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Abrasives Market Analysis

The Abrasives Market size is estimated at USD 47.34 billion in 2024, and is expected to reach USD 66.83 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

  • COVID-19 negatively impacted the market in 2020. However, the market is estimated to have reached pre-pandemic levels and is expected to grow steadily.
  • The expanding usage of abrasives in the construction and automotive sectors will likely fuel the demand for abrasives during the forecast period.
  • On the other hand, the stringent regulations on silica abrasives are likely to hinder the market. Significant investment in research and development activities will likely offer market growth opportunities.
  • The Asia-Pacific region is expected to dominate the market during the forecast period owing to its growing development in major countries such as India, China, and Japan.

Abrasives Market Trends

Increasing Use in the Aerospace and Automotive Sectors

  • The automotive sector is one of the major users of abrasives. As the demand for light and fuel-efficient automobiles has increased, such high-performance automobiles are being developed using bonded abrasive grinding tools for different applications.
  • Abrasive grinding operations are used extensively in the automotive industry to manufacture several driveline, suspension, body, and chassis components.
  • Moreover, abrasive products are mainly used in the aerospace sector for the cutting and polishing of various castings in the manufacture of steam turbines, the strong grinding of the roots of turbine blades, and the polishing of the blade airfoil.
  • Bonded abrasives are widely used in the aerospace industry. Abrasives in the aerospace industry are required for removing discoloration, removing rust and paint, deburring, fine sanding, finishing, blending, lacquer retouching, scuffing, surface treatment, flatting, polishing, weld preparation, and structuring.
  • According to the Organization Internationale des Constructeurs d’Automobiles (OICA), around 85.01 million vehicles were produced in 2022, witnessing a growth rate of 5.99% compared to 80.205 million vehicles in 2021, thereby indicating an increased demand for acrylonitrile from the automotive industry. In 2022, around 60 million passenger cars were manufactured, which was nearly 7.35% compared to 2021.
  • Additionally, the rising production of electric vehicles is likely to enhance the market demand for the Electric Vehicle segment. According to the EV Volumes, electric vehicle (EVs) sales reached 10.522 million units in 2022, registering a growth rate of 55% compared to 2021. As per the World Economic Forum (WEF), nearly 4.3 million new battery-powered EVs (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold in the first half of 2022. In addition, BEV sales grew by 75% on the year and PHEVs by 37%.
  • Furthermore, the aerospace industry is experiencing stagnant growth owing to the strengthening of passenger travel demand. The backlog of new aircraft orders and the constant resurgence of business aircraft might add to the growth of the aerospace industry.
  • According to the International Air Transport Association (IATA), the revenue for commercial airlines was valued at USD 727 billion in 2022, registering a growth rate of 43.6% Y-o-Y. Furthermore, the payment is expected to reach USD 779 billion by the end of 2023. Such factors are likely to increase the demand for flexible hoses as aerospace parts manufacturing is likely to grow.
  • Moreover, according to the Boeing Commercial Outlook 2023-2042, the demand for new commercial jets by 2042 is expected to reach 42,595 units, valued at USD 8 trillion. The fleet is expected to double to 48,600 aircraft by 2042, expanding by 3.5% annually. Airlines are expected to replace about half of the fleet with new, more fuel-efficient models.
  • Therefore, owing to the above factors, the growing automotive and aerospace industry will likely increase the demand for abrasives in the coming years.
Abrasives Market - Automotive Production, Global,  (in Million Units), 2018-2022

The Asia-Pacific Region is Expected to Dominate the Market

  • The Asia-Pacific region is expected to dominate the abrasives market in the future. The rising construction, automotive, aerospace, and electronics industries are contributing to the massive demand in the market.
  • China's growth is fueled mainly by rapid expansion in the residential and commercial building sectors and the country's expanding economy. China is encouraging and enduring a continuous urbanization process, with a projected rate of 70% by 2030. As a result, increased building activity in nations like China is projected to fuel the region's adhesive industry. All such factors tend to increase the demand for abrasives across the region.
  • Furthermore, South Korean builders' overseas building orders surpassed USD 30 billion for the third consecutive year in 2022, owing to strong demand from Asia, North America, and the Pacific Ocean regions.
  • In South Korea, the government has outlined its plan to execute large-scale redevelopment projects to supply 830,000 housing units in Seoul and other cities by 2025. From the planned construction, Seoul will get 323,000 new houses, and 293,000 will be built near Gyeonggi Province and Incheon. Major cities like Busan, Daegu, and Daejeon will also benefit with 220,000 new houses in 4 years.
  • Moreover, the Indian electronics industry is one of the fastest-growing industries globally. The domestic electronics manufacturing sector is expanding at a steady rate, owing to favorable government policies, such as 100% foreign direct investment (FDI), no requirement for industrial licenses, and the technological transformation from manual to automatic production processes.
  • According to the India Brand Equity Foundation (IBEF), the Indian electronics manufacturing industry is expected to reach USD 520 billion by 2025. Electrical and electronics production in India is expected to increase rapidly due to government initiatives with policies, such as Make in India, National Policy of Electronics, Net Zero Imports in Electronics, and Zero Defect Zero Effect, which offer a commitment to growth in domestic manufacturing, lowering import dependence, energizing exports, and manufacturing, like the “Make in India” program to make the country self-reliant.​
  • Moreover, in the aerospace sector, according to the India Brand Equity Foundation (IBEF), the country's aviation industry is expected to witness INR 35,000 crore (~USD 4.99 billion) investment in the next four years.
  • Hence, owing to the factor above, the Asia-Pacific region is expected to dominate the abrasives market during the forecast period.
Abrasives Market - Growth Rate by Region, 2023 - 2028

Abrasives Industry Overview

The abrasives market is partially fragmented in nature. Some of the major players in the market include Saint Gobain, 3M, Klingspor India Pvt Ltd, sia Abrasives Industries AG, and CUMI, among others (in no particular order).

Abrasives Market Leaders

  1. 3M

  2. Saint-Gobain

  3. CUMI

  4. Klingspor India Pvt Ltd

  5. sia Abrasives Industries AG

*Disclaimer: Major Players sorted in no particular order

Abrasives Market Concentration
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Abrasives Market News

  • May 2023: Sak Abrasives Limited announced the acquisition of Jowitt & Rodgers Co., located in Philadelphia, Pennsylvania, United States. The company expanded its product portfolio through this acquisition by including Jowitt & Rodgers Co’s resin-bonded grinding wheels, discs, and segments.
  • August 2022: Tyrolit acquired more than 75% of the Egeli Egesan Group. This signifies the company’s efforts to bolster its presence in the Middle East’s abrasive market. By gaining a majority stake in the Egeli Egesangroup, Tyrolit aims to leverage its resources and expertise to increase its market share and drive sustainable growth.

Abrasives Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Use In the Aerospace and Automotive Sector

      2. 4.1.2 Growing Metal Manufacturing and Fabrication Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Regulations on Usage of Abrasives

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Material

      1. 5.1.1 Natural Abrasives

      2. 5.1.2 Synthetic Abrasives

    2. 5.2 Type

      1. 5.2.1 Bonded Abrasives

      2. 5.2.2 Coated Abrasives

      3. 5.2.3 Super Abrasives

    3. 5.3 End-user Industry

      1. 5.3.1 Metal Manufacturing

      2. 5.3.2 Electronics

      3. 5.3.3 Construction

      4. 5.3.4 Automotive and Aerospace

      5. 5.3.5 Medical

      6. 5.3.6 Oil and Gas

      7. 5.3.7 Other End-user Industries (Industrial and Agriculture)

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 Abrasive Technology Inc.

      3. 6.4.3 ARC Abrasives Inc.

      4. 6.4.4 CUMI

      5. 6.4.5 Fujimi Incorporated

      6. 6.4.6 Deerfos

      7. 6.4.7 Klingspor AG

      8. 6.4.8 Robert Bosch Gmbh

      9. 6.4.9 Saint-Gobain

      10. 6.4.10 SAK Abrasives Limited

      11. 6.4.11 Sia Abrasives Industries AG

      12. 6.4.12 Tyrolit - Schleifmittelwerke Swarovski AG & Co K.g.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Research And Development Activities

    2. 7.2 Increasing Demand From Medical Sector

**Subject to Availability
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Abrasives Industry Segmentation

An abrasive finishes and shapes a working material by roughening, polishing, and rubbing it. Abrasives can be made naturally or synthetically. They are used for various applications such as metal manufacturing, electronics, and the automotive and aerospace industries.

The abrasives market is segmented by material, abrasive type, end-user industry, and geography. By material, the market is segmented into natural abrasives and synthetic abrasives. By abrasive type, the market is segmented into bonded abrasives, coated abrasives, loose abrasive grains, and super abrasives. By end-user industry, the market is segmented into metal manufacturing, electronics, construction, automotive and aerospace, medical, oil and gas, and other end-user industries. The report also covers the market size and forecasts for the market in different countries across the globe (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

For each segment, the market sizing and forecasts have been done based on revenue (USD).

Material
Natural Abrasives
Synthetic Abrasives
Type
Bonded Abrasives
Coated Abrasives
Super Abrasives
End-user Industry
Metal Manufacturing
Electronics
Construction
Automotive and Aerospace
Medical
Oil and Gas
Other End-user Industries (Industrial and Agriculture)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Abrasives Market Research Faqs

The Abrasives Market size is expected to reach USD 47.34 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 66.83 billion by 2029.

In 2024, the Abrasives Market size is expected to reach USD 47.34 billion.

3M, Saint-Gobain, CUMI, Klingspor India Pvt Ltd and sia Abrasives Industries AG are the major companies operating in the Abrasives Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Abrasives Market.

In 2023, the Abrasives Market size was estimated at USD 45.09 billion. The report covers the Abrasives Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Abrasives Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Abrasives Industry Report

Statistics for the 2024 Abrasives market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Abrasives analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Abrasives Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)