Abrasives Market Size & Share, by Type (Bonded, Coated, Super); Source (Natural, Synthetic); Material (Aluminum Oxide, Silicon Carbide, Emery, Corundum, Boron Carbide); Application (Automotive, Metal Working, Machinery, Electrical & Electronics, Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4497
  • Published Date: Feb 16, 2023
  • Report Format: PDF, PPT

Global Abrasives Market Definition

Abrasive is one kind of material that is used for roughening, polishing, rubbing, finishing, and shaping a working material. This results in erosion of the working material by the generation of friction. In simpler terms, an abrasive material consists of a certain hardness and density that allows working materials to be processed by eroding the material itself. For instance, abrasives are being highly utilized in applications of polishing a surface making it look good aesthetically.

Today, in the market there are different types of abrasives found. Each abrasive is classified per its hardness, grain size, and the material used in the manufacturing process. As a result, each abrasive is different from the others and affects the final result. Thus, choosing the right abrasive material is important to achieve the desired result. Usually, abrasives are made with either natural or synthetic sources. They are manufactured with minerals that are found in small-sized particles known as grit. Presently, diamond is the hardest abrasive material to be known to be naturally present. Other abrasives have a natural and synthetic origin which includes zirconium, silicon carbide, corundum, and others.

In the production process of an abrasive, support is needed to adhere to the abrasive powder. The most common supporting element used by the manufacturers is paper and canvas. Then, with the help of glue and resin, the abrasive is fixed. Abrasive tools such as abrasive paper which is also known as sandpaper, abrasive strips, and others are being produced using this technique. However, for more complex instruments such as discs and flap wheels, there are other complex procedures that require the involvement of industrial machinery.

Global Abrasives Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 42 Billion

Forecast Year Market Size (2033)

~ USD 65 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Abrasives Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global abrasives market is estimated to garner a revenue of ~USD 65 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 42 Billion in the year 2022. The growing use of furniture and more use of interior raw materials are some of the major factors anticipated to drive the growth of the market during the forecast period. Abrasives are a key requirement in the production of furniture, as they are often required during the key stages of their manufacture. In 2018, the furniture and home furnishing stores in the United States generated a revenue of USD 110 billion tons approximately. Also, the percentage expenditure on household furniture and equipment grew from 3.3% in 2017 to 3.8% in 2020.

Abrasives-Market-scope

Besides this, the rapid expansion of the automotive industry across the world and growing industrialization and urbanization are expected to fuel the growth of the abrasives market during the forecast period. As per the World Bank, more than 50% of the world’s population is living in urban areas and is estimated that this will rise by 1.5 to reach 6 billion populations by 2045. Abrasives are used in the repair processes of engine parts, and auto bodies, and the cleaning of pipes, welds, edges, and surfaces for oiling, fitting, polishing, and painting. Furthermore, the growth in the construction sector is also attributed to bringing in lucrative opportunities for market growth in the forecast period owing to the high utilization rate of abrasives in several applications in the construction industry including woodworking & fabrication, metal fabrications, and maintaining metal components. In addition to the aforementioned factors, the escalation in demand for grinding and polishing processes in a wide range of end-use industries such as metal fabrication, automotive, electrical equipment (E&E) and machinery, and electronics is anticipated to create a positive outlook for market expansion in the upcoming years.

Global Abrasives Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Disposable Income – With the reduction of taxes and increase in wages, people get more disposable income. When disposable income is raised households have more money to save and spend on luxuries such as vehicles and electronics. Thus, the increasing disposable income is expected to boost significant revenue generation in the next few years. The disposable income of the U.S. as per the Bureau of Economic Analysis raised from -0.4% in June 2022 to 0.15 in Aug 2022.

  • Elevation in the Number of Telecommunication Companies – Communication is getting faster and growing in volume every day, as more and more people get connected to the internet every day. As a result, the use of abrasives has also escalated for shaping and/or finishing optical elements, including the end faces of optical fibers and connectors. Therefore, the presence of a high number of telecom enterprises is anticipated to fuel market size. The wireless telecommunications business count raised over 2% each year in the U.S. during 2017-2022.

  • Rising Electronics Production – Electronics industry is one of the fastest growing industries across the world as more and more people depend heavily on various appliances to get their job done. As the manufacturing process of the wafer, chip processing, LED, and other optic electronic devices and other parts used in the electronics industry are dependent on abrasives, the surge in electronics production is projected to contribute positively to market growth. The total imported value of electronics across the world as of 2021 was worth USD 3,594,456,634.

  • Increasing Manufacturing Industries – As the world is recovering from the effects of the pandemic, the demand for goods and commodities is growing. Abrasives are commonly used in grinding, polishing, buffing, honing, cutting, drilling, sharpening, lapping, and sanding. Hence, the presence of a strong manufacturing industry base in the world is anticipated drive market growth. The manufacturing industry contributed USD 2269.2 to the U.S. GDP in 2020 which is 10.8% of the total GDP.

  • Growing Production of Metals - The total worldwide production of crude steel increased gradually but steadily from 1.88 billion tonnes in 2020 to 1.94 billion tonnes in 2021. Iron and steel together account for 95% of the world's and the United States' annual total metal production.

Challenges

  • Shortage of Raw Materials – Abrasives are usually produced by using raw materials including aluminum oxide, silicon carbide, cubic boron nitride, synthetic diamond, and ceramics. Most of the raw materials are obtained from renewable resources such as petroleum. As a result of the depletion of renewable resources, the availability of raw materials is lowering the manufacturing rate of abrasives. This trend is expected to restrict market growth.
  • Strict Government Rules on the Use of Silica Abrasives
  • Lack of Industry Labor

Global Abrasives Market Segmentation

The global abrasives market is segmented and evaluated for demand and supply based on application, which includes automotive, metal working, machinery, electrical & electronics, and construction. Out of these, the automotive segment is anticipated to hold the largest market size by the end of 2033 on the back of the rising automotive industry and the increasing use of abrasives for various machinery cleaning. The total number of highway-registered vehicles in the world increased from 273,602,100 in 2018 to 275,924,442 in 2020. Abrasives are being highly used in automotive applications mainly in grinding wheels, and grinding segments to smoothen and roughen the surface of vehicle components for polishing, fitting, and paints and coatings among others. In addition, the increased application of abrasives for cleaning, deburring, and repairing auto parts is also estimated to lead to segment growth in the analysis period.

The global abrasives market is also segmented and analyzed for demand and supply by type into bonded, coated, super, and others. Out of these, the bonded segment is attributed to holding a significant share of the market. Bonded abrasives are composed of a material kept in a matrix called a binder which makes it preferable for sanding and polishing metal products. Furthermore, there is a high demand for bonded abrasives from the automotive and electric & electronics industries is anticipated to impetus the sales of abrasives in the assessment period. Also, bonded abrasives are considered to be an ideal option for grinding wheels, snagging wheels, mounted wheels, and others which are used for precision and harsh grinding applications owing to their efficiency and enhance operational capability.

Our in-depth analysis of the global abrasives market includes the following segments:

By Type

  • Bonded
  • Coated
  • Super
  • Others

                By Source

  • Natural
  • Synthetic

                 By Material

  • Aluminum Oxide
  • Silicon Carbide
  • Emery
  • Corundum
  • Boron Carbide

                   By Application

  • Automotive
  • Metal Working
  • Machinery
  • Electrical & Electronics
  • Construction

Global Abrasives Market Regional Synopsis

The North America abrasives market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to the increasing use of abrasives by numerous end-use industries present in the region including metal fabrication and machinery industries. Also, the rising demand for passenger and commercial vehicles among people is estimated to boost market growth. The value of imported passenger car sales in the United States in 2021 was USD 148,145,016. Moreover, the rapid development in precision tooling and machine part production, along with technological advancements in the United States is expected to bring lucrative growth opportunities for market growth in the region. Furthermore, growing product demand from the automotive, aerospace, and defense industries, in addition to an increase in aircraft manufacturing, is expected to enhance abrasive sales in the region.

On the other hand, the Asia Pacific abrasives market is also projected to hold a significant market share along with a noteworthy CAGR rate. Infrastructural development along with rapid growth of the construction industry in the region especially in China, India, and Japan is anticipated to be the major factor for market expansion in the region. Furthermore, the high consumption rate of electronics and electrical components in the growing industries of the region is also estimated to bring notable revenue generation. In addition, the massive investments made in the manufacturing sector and the rising focus on electric vehicles in the developing countries of the region are forecasted to bring growth opportunities for market expansion.

Aseptic-Packaging-Market-Regional.j

Top Featured Companies Dominating the Global Abrasives Market

  • 3M
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Jason Industrial
  • KREBS & RIEDEL Schleifscheibenfabrik GmbH & Co. KG
  • DEERFOS Co. Ltd
  • DuPont Inc.
  • sia Abrasives Industries AG
  • Carborundum Universal Limited
  • Noritake Co., Limited
  • Schaffner Holding AG
  • Tyrolit Schleifmittelwerke Swarovski KG


In-the-news

In the News

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Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4497
  • Published Date: Feb 16, 2023
  • Report Format: PDF, PPT

Key Questions Answered in the Report

1) What are the major factors driving the growth of the abrasives market?

Ans: Rising electronic industries and growing disposable income are the major factors driving the growth of the abrasives market.

2) What would be the CAGR of abrasives market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the abrasives market growth?

Ans: Lack of raw materials and shortage of labor in the industry are the challenges affecting the market growth.

4) Which region will provide more business opportunities for growth of abrasives market in future?

Ans: The market in North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the abrasives market?

Ans: The major players in the market are 3M, Jason Industrial, KREBS & RIEDEL Schleifscheibenfabrik GmbH & Co. KG, DEERFOS Co. Ltd, DuPont Inc., sia Abrasives Industries AG, Carborundum Universal Limited, Noritake Co., Limited, Schaffner Holding AG, and Tyrolit Schleifmittelwerke Swarovski KG.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the abrasives market?

Ans: The market is segmented by type, source, material, application, and by region.

8) Which segment captures the largest market size in application in the abrasives market?

Ans: The automotive segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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