Abrasives Market Size, Share & Forecast to 2032 — Global Industry Analysis
The global abrasives market size is projected to grow from USD 48.66 billion in 2024 to USD 76.93 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period.n
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Global Abrasives Market Analysis and Demand Forecast 2032 The global abrasives market size was valued at USD 45.95 billion in 2023 and is projected to grow from USD 48.66 billion in 2024 to USD 76.93 billion by 2032, exhibiting a CAGR of 5.9% during the forecast period. Fortune Business Insights in its latest report, titled, Abrasives Market, 2025-2032. The market growth is largely driven by rising demand from the automotive, construction, aerospace, and metal fabrication industries. Among products, bonded abrasives hold the largest share due to their extensive use in precision grinding and cutting applications, while super abrasives such as diamond and cubic boron nitride (CBN) are witnessing the fastest growth in advanced machining. Get a Free Sample PDF: - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/abrasives-market-102177 Segments: Synthetic Segment to Lead Global Market Due to Rising Application By material, the market is bifurcated into natural and synthetic. The synthetic segment is anticipated to lead the global market share due to high application of these products in various elements. High Abrasive Use in Different Products to Boost Coated Segmental Growth Based on product type, the market is trifurcated into bonded, coated, and super. The coated segment is anticipated to grow during the projected period. The increasing use of coated abrasives in consumer goods, furniture, surgical products, and fabrication products is anticipated to fuel the segmental growth.
Metal Fabrication to Propel Growth During Forecast Period On the basis of application, the market is divided into automotive, electrical & electronics, metal fabrication, machinery, and others. The metal fabrication segment will grow in the coming years due to the rising demand for metal equipment. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Report Coverage: The report provides complete information and insights on recent developments and trends in the market. Also, the impact of COVID-19 pandemic on global market development is highlighted further in this report. Furthermore, the drivers and restraints affecting the market growth during the projected period are mentioned further in the report. Regional market insights on segmented market areas are provided further along with a list of key market players in the industry. Drivers & Restraints: Increasing Demand from the Automotive Sector to Propel Growth The market is anticipated to witness prominent growth during the forecast period due to the rising product application for construction activities. Also, the increasing demand for these products from the automobile sector is projected to fuel the global abrasives market growth during the forecast period. The surging product demand for coating applications is anticipated to boost market share. Regional Insights: Asia Pacific is estimated to dominate the global abrasives market share during the forecast period due to the rising technological advancements. Also, increasing industrialization and rising commercialization are projected to fuel regional market growth in the coming years. The regional market stood at USD 22.89 billion in 2021. Competitive Landscape: The leading companies in this industry focus on various strategies to improve their business performance. The companies form strategic alliances and partnerships to globalize their brand and propel growth. Key Industry Development: December 2021: Carborundum Universal (CUMI), the German subsidiary of Murugappa Group, announced the acquisition of Awuko, a major market player. The acquisition is an asset purchase agreement to acquire the assets of Awuko. List of Key Players Profiled in the Report: The 3M Company (U.S.) Saint-Gobain (U.S.) Krebs & Riedel (Germany) Asahi Diamond Industrial Co., Ltd. (Japan)
Robert Bosch GmbH (Germany) Fujimi Incorporated (Japan) Henkel AG & Co. KGaA (Germany) Carborundum Universal Limited (India) NIPPON RESIBON CORPORATION (Japan) KWH Mirka (Finland) NORITAKE CO., LIMITED (Japan) Get Your Customized Research Report: - https://www.fortunebusinessinsights.com/enquiry/customization/abrasives-market-102177 About Us: Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Contact Us: Fortune Business Insights Pvt. Ltd. 9th Floor, Icon Tower, Baner - Mahalunge Road, Baner, Pune-411045, Maharashtra, India. Phone: US: +1 424 253 0390 UK: +44 2071 939123 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com
