The global abrasive market size is valued at USD 53,622.9 million in 2024. The valuation is foreseen to reach USD 81,694.6 million by 2034. Working with statistics, the numbers reiterate success, foreseeing a CAGR of 4.3% through 2034, which is likely to create new industrial developments.
Governments and multinational players are playing a crucial role in the expansion by reopening country borders for international trade and shortening turnaround times.
Growth of this industry is attributed to the expanding electrical, automotive, medical, and metal fabrication sectors. The automotive industry’s focus on changing the aesthetics and standardizing the quality of surface finishes has influenced the sectoral developments that bring huge profits into court.
Manufacturers are increasing the production of bonded, coated, and steel abrasives to broaden their portfolio. The ever-expanding electronic and automotive sectors are bringing stable revenue for companies in the abrasive market.
As these sectors are highly competitive, manufacturers are ensuring a steady supply of high-quality consumables. Plus, the expansion of the metal fabrication industry is creating lucrative opportunities for startups and manufacturers.
The Asia Pacific is one of the prominent leaders in the industry. The increasing production of automobiles, electronic equipment, medical devices, and the packaging sector has accelerated the success of Asian countries. Advancements in technology and an increase in overall trade and transportation in these countries have enlarged industrial development.
Also, reports published by the National Investment Promotion and Facilitation Agency have indicated a 13% share of infrastructure activities in the total foreign direct investment inflow in 2021. Renovation and maintenance activities around the globe, which ensure high-quality finishes, have contributed to increased sales of these products.
Manufacturers are collaborating with suppliers to ensure stable supply chains. They are also building relationships with distributors and ecosystem partners to enlarge business continuity.
Rapid urbanization and integration of Industry 4.0 have accelerated sectoral development. The fragmented nature of the industry indicates that small-scale players are posing stiff competition to well-established players.
| Attributes | Description |
|---|---|
| Expected Global Abrasive Market Size (2024E) | USD 53,622.9 million |
| Projected Global Abrasive Market Value (2034F) | USD 81,694.6 million |
| Value-based CAGR (2024 to 2034) | 4.3% CAGR |
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Industrialization has Proven to be an Push in this Sector
Industries like automotive, construction, and metalworking have driven the development of the abrasive market globally. The use of these abrading substances in construction and securing blocks has become crucial, surging demand with increasing industrialization and urbanization.
With the growing population and large urban companies acquiring vast and lavish spaces, metalwork and cementing requirements have soared. The automotive sector is also a significant contributor to the growing demand for vehicles, especially luxury cars and bikes. This has further burgeoned the global demand for abrasives.
Development of New Abrasive Products
New and innovative products in this sector attract attention due to their efficiency and profitability parameters. Technological advancements are creating advanced abrasives that offer improved performance and durability, making them a popular choice among end users.
Growing popularity of these products in emerging economies plays a leading role in expanding the industry. The manufacturing sector in emerging countries has bolstered the industrial presence of abrading substances due to the soaring demand for them. Thus, the industry is experiencing immense success worldwide.
Resilience in Growth Parameters of Abrasive Industry
Uncertainty in economic conditions poses a significant hurdle to the success of this industry. With rising raw material costs and competitors in the sector, the field experiences ups and downs, requiring creative strategies for forward-looking approaches. Government norms on the use of silica abrasives have also significantly impacted the industrial growth of this industry.
The global abrasive market reported USD 43,987.9 for 2019, with a CAGR of 4% from 2019 to 2023. The ascent in disposable incomes and technological upgrades has helped to heighten the sales of abrasives. The scenario from the past decade to the recent one describes the surge in various industrial sectors, emphasizing the necessity and importance of these products.
Rise in original equipment manufacturers has aided in the development of the automotive sector, noting huge growth. Trend of sustainability has also played a substantial role in changing the parameters of the industry. Development of electric vehicles and the increasing use of lightweight materials like aluminum and carbon fiber composites have transformed the subtleties of this industry.
The industry is estimated to double in size by 2034, likely achieving a CAGR of 4.3% through that year. The revival of economic growth globally post-pandemic has surged demand for machinery.
Growing urbanization and industrialization have provided the necessary momentum for the global development of this landscape. With rising disposable incomes and product innovations, volatility in prices has introduced new parameters, making it accessible to small-scale and large-scale industries to focus on growth.
Evolution of electrical and electronic devices over the last decade has eradicated many hurdles and expanded the industry because of the soaring end-user demand. Parallel advancements in medical devices and healthcare units have also contributed significantly to industry growth.
Principal Consultant
The section below describes the growth factors and hurdles faced by industries related to abrasives. The industrial and institutional cleaning chemicals and microfiber cleaning cloth industries are poised to expand due to growing demand and the integration of Industry 4.0.
A revolution is foreseen to change the overall status and growth parameters of these industries, as industrialization and modernization in every aspect spark the use of these abrading substances.
Microfiber Cleaning Cloth Industry Assessment:
People living extravagant lives around the globe are spending on household products like microfiber cleaning materials. Customers are more attracted to origami, non-woven cleaning cloths. Advancements have a positive impact on industry success. The United States, Canada, and Europe are also prominent players in this regard as they are increasing the number of hotels and restaurants.
| Attributes | Description |
|---|---|
| Related Market | Microfiber Cleaning Cloth Market |
| CAGR (2024 to 2034) | 4.5% |
| Growth Factor | Increasing demand for a cleaning solution in the residential as well as commercial sector increases the sales of this cloth |
| Key Challenges | Non-renewable and non-biodegradable properties of the cloth are factors that may impede the growth |
Industrial and Institutional Cleaning Chemical Industry Assessment:
Governing organizations encourage the use of synthetic cleansers to uphold the hygiene requirements of many businesses. The World Health Organization (WHO) is promoting the use of domestic sanitizers and disinfectants as their usage has grown to curb the spread of diseases. These solvent-based cleansing agents are rapidly growing due to their biodegradable nature, which is ecologically beneficial.
| Attributes | Description |
|---|---|
| Related Market | Industrial and Institutional Cleaning Chemical Market |
| CAGR (2024 to 2034) | 7.5% |
| Growth Factor | Federal agencies' production requirements for cleaning chemicals in manufacturing sectors foster industry growth |
| Key Challenges | Managing industry volatility and grading standards poses challenges |
The section below describes the different segments of the abrasive market, including its product types and applications in various industries. The bonded product type acquires the highest share in the sector due to its unique qualities.
The end use segments include aerospace, automotive, machinery, metal fabrication, electrical and electronics equipment, and others. Among them, electrical and electronic segments take the lion’s share.
The growing automobile industry has upsurged the overall development of bonded abrasives. Resin grinding wheels are widely used to give a finished touch to the desired designs of automobiles.
With the vast expansion of the automobile sector and electronics, bonded abrading substances have gained traction, skyrocketing in demand. With a share of 48.5% in 2024, bonded abrasives have seen continuous success.
| Segment | Bonded Abrasives (Product Type) |
|---|---|
| Value Share (2024) | 48.5% |
The industry has shown an immense upsurge due to the increasing demand for advanced technology-based pieces of machinery. These products are also used to smooth the edges of dental tools, making them extremely convenient for doctors.
Abrasives are used in various industries for a variety of applications like metal cutting, grinding, and polishing. Increasing clamor for electronic devices has soared the requirement for these products. Electrical and electronic equipment have seen significant growth, with a share of 33.4% in 2024.
| Segment | Electricals and Electronics Equipment (End Use) |
|---|---|
| Value Share (2024) | 33.4% |
Automation, digitalization, and the Internet of Things have shown decisive outcomes teeming the growth of this sector. Production processes in industry involve materials like metals, plastics, and ceramics. They require different abrading substances for cutting and polishing. Thus, the industry experiences high demand and will continue to do so, especially with the increasing clamor for electronics as a whole.
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Below are countries with their compound annual growth rates, specifying the development of industries and their global presence. Asian countries dominate the industrialization sector with immense requirements for abrasives. North American and European countries are also experiencing steady growth rates, surpassing expectations and achieving soaring success worldwide.
| Countries | CAGR 2024 to 2034 |
|---|---|
| India | 6.4% |
| China | 4.8% |
| Spain | 3.2% |
| France | 3% |
| United States | 2.4% |
The automotive, construction, and manufacturing sectors have grown immensely in recent years in India. The rise in infrastructure projects and the government’s focus on initiatives like “Made in India” has spurred industrial development in this sector in the country. India’s industry is projected to achieve a CAGR of 6.4% through 2034, with the mass expansion of industries like medical devices, electronics, etc.
Key Indian companies have a strong dominance in this industry globally. Carborundum Universal Ltd (CUMI), Grindwell Norton Ltd, and Saint-Gobain are among them. Turning to newcomers and small-scale companies, Wendt India Ltd and 3M India have recently entered the industry.
Increasing demand for electronics like smartphones, tablets, and laptops has created a need for high-precision abrasive materials in manufacturing processes. China, a hub for electronic manufacturing, has shown substantial development in the production of electronic components. Thus, the industry for finishing and surface polishing products in China has received a boost.
The automotive sector, another key consumer of these products, is rapidly growing in China. Startups are leveraging advanced technologies like AI, robotics, and automation to produce high-quality and cost-efficient finished products.
Trends toward eco-friendly polishing and grinding products are growing in demand in sustainable manufacturing units in China. All these factors contribute to the growth of China’s industry with a 4.8% CAGR.
Advancements in technology and an increase in overall trade and transportation globally have fueled growth in the United States. The aerospace and electronics industries have gained traction in the United States' success. With a 2.4% CAGR from 2024 to 2034, the United States is likely to contribute to the global expansion score.
Mergers and acquisitions with key companies to expand the portfolio have extended the geographic reach. Thus, consolidation is indicative of the sector’s dynamics and companies' efforts to stay competitive, creating huge opportunities.
Increased government spending on infrastructure and defense has also spurred the need for these products. Thus, these materials play a vital role in maintenance and defense applications, contributing to the growth of the United States abrasive industry.
In terms of competition, the global abrasive market displays fragmentation with the presence of multiple global and regional players. Business alliances, mergers, and product innovations have enhanced the growth prospects of this industry.
Growth strategies of leading players and their competitors are influencing industry dynamics, with new entrants trying to gain foothold; however, the increasing urbanization and huge demand for polishing and grinding materials have created ample opportunities for all.
Industry Update
Based on raw material, the sector is bifurcated into natural and synthetic.
Coated, bonded, and super abrasives are different types present in the industry.
Key end users present in this industry are aerospace, automotive, machinery, metal fabrication, electrical and electronics equipment, and others.
A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
Industry is set to reach USD 53,622.9 million in 2024.
The valuation is expected to reach USD 81,694.6 million by 2034.
Industry is set to register a CAGR of 4.3% from 2024 to 2034.
Bonded abrasives with a market share of 48.5% for 2024.
India is expected to progress at a CAGR of 6.4% through 2034.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Source 6.2. Type 6.3. End User 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Source 7.1. Natural 7.2. Synthetic 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 8.1. Coated Abrasives 8.2. Bonded Abrasives 8.3. Super Abrasives 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User 9.1. Aerospace 9.2. Automotive 9.3. Machinery 9.4. Metal Fabrication 9.5. Electrical & Electronics Equipment 9.6. Others 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. South Asia 10.5. East Asia 10.6. Eastern Europe 10.7. Middle East & Africa 11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Sales Forecast 2024 to 2034 by Source, Type, and End User for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. 3M Company 20.2. Abrasive Technology Inc. 20.3. Allied High Tech Products Inc. 20.4. Almatis GmbH 20.5. Asahi Diamond Industrial Co. Ltd 20.6. DEWALT 20.7. Fujimi Incorporated 20.8. Klingspor India Pvt. Ltd. 20.9. Noritake Co. Limited 20.10. Pan Abrasives
Chemicals & Materials
December 2016
REP-GB-1088
July 2023
315 pages
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Abrasive Market
