At 5.3% CAGR, Middle East & Africa Abrasive Market is Projected to be Worth US$ 2,005.15 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa abrasive market was valued at US$ 1,322.64 million in 2022 and is expected to reach US$ 2,005.15 million by 2030, registering a CAGR of 5.3% from 2022 to 2030. Development of sustainable abrasives, and rising demand for abrasives from electrical and electronics industry are among the critical factors attributed to drive the Middle East & Africa abrasive market growth.

Governments of various European countries have imposed a few regulations on using sustainable materials to manufacture products in processing industries, including chemicals & materials, to ensure better protection of human health and the environment. These regulations are set to reduce greenhouse emissions and have compelled manufacturing companies to increase investments in developing naturally derived raw materials. Rising awareness regarding greenhouse gas (GHG) emissions and environmental pollution is projected to surge the demand for bio-based and sustainable products. Governments of various countries are adopting several initiatives to increase the awareness and development of sustainable materials. Emerging trends in sustainability have spurred innovation in the abrasive market. Advancements in abrasive manufacturing techniques, such as precision engineering and surface modification, are leveraged to enhance efficiency and reduce waste generation. Several manufacturers are also focused on minimizing energy consumption and emissions caused during the production and usage of abrasives. Therefore, the development of sustainable abrasives is expected to drive the abrasive market during the forecast period.

On the contrary, fluctuations in raw material prices hampers the growth of Middle East & Africa abrasive market.

By material, the Middle East & Africa abrasive market is bifurcated into natural and synthetic. The synthetic segment held 62.6% share of Middle East & Africa abrasive market in 2022, amassing US$ 827.93 million. It is projected to garner US$ 1,298.37 million by 2030 to expand at 5.8% CAGR from 2022 to 2030.

In terms of type, the Middle East & Africa abrasive market is bifurcated into bonded abrasives and coated abrasives. The bonded abrasives segment held 62.9% share of Middle East & Africa abrasive market in 2022, amassing US$ 832.58 million. It is anticipated to garner US$ 1,306.52 million by 2030 to expand at 5.8% CAGR during 2022-2030. Furthermore, the bonded abrasives segment is subcategorized into discs, wheels, and others. Additionally, the coated abrasives segment is subcategorized into flap discs, fiber discs, hook a loop discs, belts, rolls, and others.

By application, the Middle East & Africa abrasive market is segmented into automotive, aerospace, marine, metal fabrication, woodworking, electrical & electronics, and others. The automotive segment held 26.5% share of Middle East & Africa abrasive market in 2022, amassing US$ 350.09 million. It is projected to garner US$ 554.68 million by 2030 to expand at 5.9% CAGR from 2022 to 2030.

Based on sales channel, the Middle East & Africa abrasive market is bifurcated into direct and indirect. The indirect segment held 63.7% share of Middle East & Africa abrasive market in 2022, amassing US$ 841.87 million. It is predicted to garner US$ 1,300.25 million by 2030 to expand at 5.6% CAGR between 2022 and 2030.

Based on country, the Middle East & Africa abrasive market is categorized into South Africa, Ghana, Kenya, Ethiopia, Egypt, Turkey, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 57.8% share of Middle East & Africa abrasive market in 2022. It was assessed at US$ 765.09 million in 2022 and is likely to hit US$ 1,179.30 million by 2030, registering a CAGR of 5.6% during 2022-2030.

Key players operating in the Middle East & Africa abrasive market are CUMI AWUKO Abrasives GmbH, Robert Bosch GmbH, Tyrolit Schleifmittelwerke Swarovski AG & Co KG, Sun Abrasives Co Ltd, Compagnie de Saint-Gobain S.A., sia Abrasives Industries AG, RHODIUS Abrasives GmbH, 3M Co, and Ekamant AB, among others.

• In September-2023, Tyrolit Schleifmittelwerke Swarovski AG & Co KG acquired a complete stake in Acme Holding Company, a specialized abrasive producer and supplier, to enhance its portfolio for the foundry, steel, and rail sectors.
  
  
• In July-2020, Tyrolit Schleifmittelwerke Swarovski AG & Co KG completed the acquisition of Bibielle SpA, a producer of three-dimensional abrasive products, to meet all polishing, grinding, finishing, and surface conditioning needs.
  
  

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