Abrasives Market Report

Market Overview:

The global abrasives market size reached US$ 47.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 72.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032. The considerable rise in global vehicle ownership and the trend towards electric vehicles, the growing emphasis on sustainable energy solutions, and the increasing embrace of digital technologies are some of the major factors propelling the market.

Abrasives are materials used to remove surface layers from various objects through friction. They play a crucial role in numerous industrial applications, such as grinding, polishing, sanding, and cleaning. They are typically hard and rough, these substances work by scratching or wearing away surface material when applied with force. They can be classified into natural and synthetic types. Natural variants include minerals, including diamond, corundum, and emery, while synthetic options encompass silicon carbide and aluminum oxide. The selection of an abrasive depends on the specific task at hand, considering factors such as material compatibility, hardness, and desired finish. The use of abrasives is widespread in various industries, including manufacturing, construction, and automotive, where they are instrumental in achieving desired shapes, dimensions, and finishes.

The rise in global vehicle ownership and the trend towards electric vehicles is driving the global market. Moreover, emerging innovations in material science have led to the development of product that offer improved performance, versatility, and durability, thereby widening their range of applications. Moreover, sustainability concerns are another driver, encouraging companies to develop eco-friendly variants that meet environmental regulations without compromising on performance. This is particularly relevant in Europe, where stringent environmental standards are in place. Also, globalization has led to increased trade and the expansion of companies into new markets, propelling the product need. Besides, the increasing embrace of digital technologies and the concept of Industry 4.0 are driving more intelligent manufacturing processes. Product variants equipped with smart sensors for real-time monitoring of wear and performance are gaining traction, which adds another layer of demand in the market. Also, the growing emphasis on sustainable energy solutions, such as wind turbines and solar panels, also requires specialized materials for surface preparation, maintenance, and manufacturing of key components, creating a new niche market.

Abrasives Market Trends/Drivers:

Growing manufacturing sector

As industrialization gains pace in emerging economies, the product demand in manufacturing processes such as grinding, cutting, and finishing has risen substantially. Modern manufacturing relies on precision engineering, where even minute imperfections can affect the overall quality and functionality of products. Abrasives play a crucial role by enabling highly accurate shaping and finishing of materials, thus meeting the stringent quality standards required in today's competitive landscape. Additionally, the transition to automated and computer-controlled manufacturing systems has impelled the demand for specialized abrasives that can perform consistently over long periods. Moreover, the trend of lean manufacturing, which emphasizes efficiency and waste reduction, also supports the use of high-performance variants that contribute to faster production cycles and lower material wastage.

Automotive industry advancements

With an increasing number of vehicles being produced annually, the market demand in automotive manufacturing processes, such as grinding, polishing, and surface preparation has seen a notable increase. Moreover, the need for high-quality finishes, whether in the engine components or exterior bodywork, necessitates the use of specialized product variants that are capable of achieving precision and consistency. Furthermore, the emergence of electric vehicles (EVs) has further impacted the product demand. Manufacturing EV components, especially batteries, requires specialized materials that can provide a high level of precision and consistency. These requirements are pushing companies in the market to innovate and develop products specifically designed for the electric vehicle manufacturing process. Additionally, the shift toward lightweight vehicles for better fuel efficiency and lower emissions is promoting the use of new materials, such as carbon fiber composites.

Considerable growth in infrastructure development activities

The expanding construction sector is fuelled by urbanization and the need for improved infrastructure, such as roads, bridges, and buildings. Abrasives are essential in various construction applications, including surface preparation, cutting, and grinding of construction materials, such as concrete, metal, and wood. Moreover, government initiatives and investments in infrastructure projects are also propelling the demand for high-quality products. Additionally, the need for durable and weather-resistant construction materials has led to the development of new composites and alloys, which require specialized variants for effective shaping and finishing. Furthermore, companies are thus focusing on developing new alternatives that not only meet the requirements of hardness and durability but are also environment friendly.

Rapid urbanization, inflating income levels and the rising global population have boosted the sales of automobiles worldwide. This, along with the increasing utilization of abrasives for reducing CO₂ emissions of high-performance engines and noise levels in automobiles, is strengthening the growth of the market. Moreover, the thriving electronics and manufacturing industries act as another growth-inducing factor. Abrasives are used in these industries to scrape the metal in small amounts for manufacturing semiconductors and other electronic equipment with precision. Apart from this, the increasing construction activities are resulting in the escalating demand for super abrasives. The developments in the manufacturing industry have also enabled improvements in precision tooling, which is utilized in the production of smaller components with greater accuracy. This, in turn, is positively influencing the demand for abrasives. Furthermore, the leading players are focusing on various product innovations, such as the development of polyester- and fabric-based abrasives. They are also introducing advanced coated abrasives for metal fabrication, which is propelling the abrasives market growth. The growing adoption of super-abrasives, such as industrial diamonds for precision grinding and cutting of hard metals is also boosting their sales worldwide.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market report, along with forecasts at the global and regional levels from 2024-2032. Our report has categorized the market based on product type, end-use, and material type.

Breakup by Product Type:

• Bonded Abrasives
• Coated Abrasives
• Super-abrasives
• Others
   

Bonded abrasives dominate the market

The report has provided a detailed breakup and analysis of the market based on the product type. This includes bonded abrasives, coated abrasives, super-abrasives, and others. According to the report, bonded abrasives represented the largest segment.

Bonded abrasives are manufactured from embedding abrasive grains into a matrix, which is typically obtained from resin or other bonding materials. This composition allows for a variety of shapes, sizes, and specifications, making them highly versatile and adaptable to a wide range of applications. They are commonly used in the form of grinding wheels, cutting wheels, and mounted points, among other configurations. In manufacturing, they are indispensable for operations, such as cutting, grinding, and polishing of metals, ceramics, and other hard materials. Their utility extends to the automotive sector where they are used in tasks, including surface preparation, smoothing welds, and refining auto parts to precise dimensions. Their robustness and capability to remove material efficiently make them highly sought-after for heavy-duty tasks in construction projects as well. Additionally, advances in bonding technologies have allowed for the development of products with longer lifespans, reducing the frequency of replacements and thereby lowering operational costs over time.

Breakup by End-Use:

• Machinery
• Metal Fabrication
• Automotive
• Electronics
• Construction
• Others
   

Automotive dominates the market

The report has provided a detailed breakup and analysis of the market based on the end-use. This includes machinery, metal fabrication, automotive, electronics, construction, and others. According to the report, automotive represented the largest segment.

Abrasives are instrumental in shaping and finishing various parts, including gears, shafts, and engine components, as well as in surface preparation processes, such as sanding and polishing. The emphasis on high-quality finishes and precision engineering in the automotive sector makes them an invaluable resource. Moreover, the growth in the automotive industry, particularly with the emergence of electric vehicles (EVs), has further fueled demand. EV manufacturing requires highly specialized products for critical components like batteries and electric motors. The need for precision and quality in these parts is paramount, given the safety and efficiency standards that electric vehicles must meet. The transition to lightweight and fuel-efficient vehicles has also impacted the types of materials used, such as carbon fiber composites and high-strength alloys. These materials have unique requirements for cutting, shaping, and finishing, thereby driving the development of specialized abrasive products.

Breakup by Material Type:

• Natural Abrasives 
• Synthetic Abrasives
   

Synthetic abrasives dominate the market

The report has provided a detailed breakup and analysis of the market based on the material type. This includes natural abrasives and synthetic abrasives. According to the report, synthetic abrasives represented the largest segment.

Synthetic abrasives are crucial in applications that demand high precision and reliability. In the automotive sector, synthetic abrasives are used extensively for processes, such as grinding, polishing, and finishing, where they offer the requisite quality and durability. They are also indispensable in sectors, such as aerospace, where the quality of components can directly impact safety and performance. Additionally, their cost-effectiveness, particularly when scaled for mass production, makes them an attractive choice for industries operating under tight budget constraints. They are often more durable, leading to longer lifespans and reduced operational costs over time. Besides, researchers and manufacturers have been successful in developing new types of product variants that can operate under extreme conditions, such as high temperatures and pressures, without losing their effectiveness. 

Breakup by Region:

• Asia Pacific
• Europe
• North America
• Middle East and Africa
• Latin America
   

Europe exhibits a clear dominance, accounting for the largest abrasives market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, Europe, North America, Middle East and Africa and Latin America. According to the report, Europe accounted for the largest market share.

Europe is home to some of the world's most advanced manufacturing sectors, including automotive, aerospace, and machinery, which are significant product consumers. Additionally, Europe has been at the forefront of research and development in material science and engineering technologies. This has led to the creation of innovative abrasive products that offer superior performance, durability, and efficiency. European companies often invest significantly in R&D, leading to a competitive edge in the global market. Furthermore, European regulations often set high standards for industrial processes, including those that involve the product use. This has propelled the demand for high-quality, environmentally friendly abrasive products, creating a market environment that values both performance and sustainability. Europe's well-established trade relationships with other global markets ensure a steady export of abrasive products, further solidifying its dominant market position. Additionally, the region benefits from a robust internal market, thanks to the economic cohesion among EU member states, which allows for seamless trade activities.

Competitive Landscape:

Companies are developing new abrasive materials and technologies that offer higher efficiency, durability, and precision. Companies are also diversifying their product portfolios to cater to various industries, from automotive and aerospace to construction and healthcare. By offering a range of abrasive materials suitable for different applications, these companies aim to become one-stop solutions for their clients. Moreover, market leaders are also looking at global expansion through mergers, acquisitions, and partnerships. By entering new markets or collaborating with local players, they aim to expand their global footprint and tap into emerging opportunities. Also, with increasing awareness of environmental concerns, companies are focusing on producing variants that are eco-friendly. This involves the development of products that produce less waste and have a lower environmental impact throughout their life cycle. Furthermore, companies are adhering to stringent quality standards, often complying with international certifications to ensure their products meet the demands for high performance and reliability.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Robert Bosch Power Tools GmbH
• DuPont de Nemours
• Fujimi Inc.
• Saint-Gobain Group
• Henkel AG & Co. KGaA
• 3M
• Asahi Diamond Industrial Co., Ltd.
• Carborundum Universal
• TYROLIT Schleifmittelwerke Swarovski KG
• NIPPON RESIBON CORPORATION
• Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG
• Abrasiflex Pty Ltd.
• Noritake Co., Limited
• DEERFOS.COM
• Sankyo-Rikagaku Ltd.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Recent Developments:

• In March 2023, Carborundum Universal Limited launched a new product called CUMI MONK. The product is also suitable for high-hardness, difficult-to-grind materials and also help to improve their grinding applications with its exceptional properties.
• In January 2023, Bosch Power Tools GmbH launched the new Powerful, Compact, GWS 800 Professional. It offers an ergonomic design for comfortable, fatigue-free overhead use.
• In June 2022, Sankyo Rikagaku Ltd. completed the acquisition of 100% of the shares of Zibo Riken MT Coated Abrasives Co., Ltd. Through its acquisition, Sankyo Rikagaku consolidated production, technology, and sales channels across various countries to enhance group competitiveness.

Abrasives Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the abrasives market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global abrasives market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the abrasives industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.