Abrasive Market by Type (Coated, Bonded, and Super Abrasives), Category (Natural and Synthetic), Application (Automotive and Transportation, Heavy Machinery, Metal Fabrication, Electrical and Electronic Equipment, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026706 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 41 billion mark in 2022 and is expected to hit US$ 60 billion by 2030, recording a CAGR of 5.0% during the forecast period.

Increasing demand for Electric Vehicles. 

The electric vehicle has proven to be an essential technology in terms of reducing air pollution in densely populated areas and a promising option for contribution in energy diversification and the reduction in greenhouse gas emission objectives. Various benefits of electric vehicles include zero tailpipe emissions, the potential for greenhouse gas emissions reductions, better efficiency than internal combustion engine vehicles, etc. In developing and deploying electric powertrains for transport, these several benefits have surfaced as prominent drivers behind countries' policy support. The demand for EVs and their charging stations is increasing, which, in turn, is anticipated to boost the abrasives demand over the coming years.

Within the report, the market is segmented into type, category, application, and geography. By type, the market is further segmented into coated, bonded, and super abrasives. In terms of category, the market is bifurcated into natural and synthetic. Based on application, the market is further segmented into automotive and transportation, heavy machinery, metal fabrication, electrical and electronic equipment, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Expansion of end-use industries.

The global market for abrasives is undergoing strong growth due to the rising demand from automotive, heavy machinery, metal fabrication, electrical and electronic, etc. The expansion of these industries due to rising industrialization and urbanization is expected to drive the market over the next few years. Rising demand for pre-engineered automotive parts and components coupled with rapid growth of metal fabrication industry are some of the crucial factors driving the market growth.  Moreover, rapid development of manufacturing sector and surging demand for abrasives from other end use industries such as electrical & electronics, aerospace, etc. are also contributing a major share in the growth of abrasives market across the globe

APAC is the largest abrasives market in the forecast period.

The abrasives market in APAC is segmented into China, India, Japan, South Korea, and the Rest of APAC. The region is dominating as well as the fastest growing in the abrasives market, driven by high economic growth and huge investments in the manufacturing industries. The growth of the region is propelled by the increase in the consumption and production of industrial products in developing economies such as India and China. The demand for high-quality products, rising population, and the growing end-use industries have led to innovation and development in the market. The continuous growth in the manufacturing sector drives the demand for abrasives in the region.

Recent strategic developments in abrasives market

The abrasives market has undergone several significant developments, and a few of these have been mentioned below:

  • In December 2021, M/s CUMI GmbH, Germany, a step-down subsidiary of M/s. Carborundum Universal Limited (CUMI), entered an Asset Purchase Agreement with the Insolvency Administrator of M/s AWUKO ABRASIVES Wandmacher GmbH & Co. KG, Germany (AWUKO), to acquire the main assets of AWUKO.

The abrasives market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Robert Bosch GMBH; 3M Company; Saint-Gobain Abrasives, Inc.; Henkel; and Fujimi Incorporated are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Abrasives related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of abrasives industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Coated
    • Bonded
    • Super Abrasives
  • Category
    • Natural
    • Synthetic
  • Application:
    • Automotive and Transportation
    • Heavy Machinery
    • Metal Fabrication
    • Electrical and Electronic Equipment
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Robert Bosch GMBH
    • 3M Company
    • Saint-Gobain Abrasives, Inc.
    • Henkel
    • Fujimi Incorporated

The List of Companies
- Robert Bosch GMBH
- 3M Company
- Saint-Gobain Abrasives, Inc.
- Henkel
- Fujimi Incorporated

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