Abrasives Market was valued at US$ 37.67 Bn. in 2022 and it expected to reach US$ 52.31 Bn. by 2029, at a CAGR of 4.8% throughout the forecast period.
Market Overview:
The Global Abrasives Market, valued at US$ 37.67 Bn. in 2022, is projected to reach US$ 52.31 Bn. by 2029, with a Compound Annual Growth Rate (CAGR) of 4.8% throughout the forecast period.
Report Scope:
Abrasives, mineral-based hard materials, play a pivotal role in polishing, grinding, and cleaning surfaces across various industries such as ultrasonic machining, abrasive jet machining, and magnetic field-assisted polishing. The report delves into the market dynamics, research methodology, and regional insights to provide a comprehensive analysis.
Research Methodology:
The research methodology employed in this report ensures a thorough understanding of market trends. The report incorporates insights from industry experts, primary interviews, and extensive data analysis to present a comprehensive view of the Global Abrasives Market.
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Dynamics:
Global dynamics driving the abrasives market include increased automobile sales, rising demand for abrasives in electronics and manufacturing, and the growing construction sector. Advancements in product offerings, such as polyester and fabric-based abrasives, and the use of super-abrasives like industrial diamonds contribute to market growth. However, volatile raw material prices may pose challenges during the forecast period.
Regional Insights:
Asia Pacific: With a market share of 53% in 2022, Asia Pacific leads the global abrasives market, driven by construction activities in countries like South Korea, Japan, India, Australia, and China. China’s booming construction sector, accounting for 20% of global construction investment, is a significant factor.
North America: The region is expected to witness significant growth at a CAGR of 7.2% during the forecast period. Growing infrastructure, rising manufacturing investments, and increased electric vehicle (EV) production in the U.S. and Canada contribute to this growth.
Market Segment Analysis:
Material: Natural abrasives, including calcite, diamond, pumice, corundum, and sandstone, dominate the market with a share of xx%. Synthetic abrasives, such as ceramic, borazon, and silicon carbide, are expected to witness significant growth.
Application: The automotive segment holds the largest market share at 35%, driven by various uses in the industry. The electrical & electronics equipment segment is expected to grow at the fastest rate, with a CAGR of 6.3%.
Conclusion:
The comprehensive analysis presented in this report aims to provide stakeholders with valuable insights into the Abrasives Market. It covers past and current industry status, forecasted market trends, and the impact of micro-economic factors. The report serves as an investor’s guide, offering a clear understanding of market dynamics, competitive analysis, and key players’ strategies.
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What is Abrasives Market Segmentation?
by Product
Coated Abrasive
Bonded Abrasive
Super Abrasive
by Material
Natural
Synthetic
Who are Abrasives Market Key Players?
1. Robert Bosch GmbH
2. 3M Company
3. Compagnie De Saint-Gobain S.A.
4. Henkel
5. Asahi Diamond Industrial
6. Dowdupont
7. Fujimi Incorporated
8. Carborundum Universal
9. Krebs & Riedel Schleifscheibenfabrik
10. Deerfos
11. Tyrolit Group
12. Nippon Resibon Corporation
13. Sankyo-Rikagaku
14. Abrasiflex
15. Noritake
16. Kier Group PLC
17. Carillon
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Table of content for the Abrasives Market includes:
- Global Abrasives Market : Research Methodology
- Global Abrasives Market : Executive Summary
- Market Overview and Definitions
- Introduction to the Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Abrasives Market : Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Offerings:
- Past Market Size and Competitive Landscape
- Abrasives Market Size, Share, Size & Forecast by different segment |
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Abrasives Market Segmentation – A detailed analysis by Product
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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