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 superabrasives such as diamond and cubic boron nitride (CBN) are witnessing the fastest growth in advanced machining.
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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 Holds Dominant Market Share Due to Rapid Commercialization
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:
Strategic Acquisition Allow Companies to Propel Growth
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)
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