The abrasives market is predicted to record a viable CAGR of 4.3% globally from 2022 to 2032.
“The government norms on the use of silica abrasives, volatile prices of raw materials in the production of abrasives are the major challenges to look for in the global abrasives market.”
Abrasive is the most used material across the various industries for cleaning the hard surface, grinding wheel and polishing. An abrasive helps to provide surface finish and shape for the material. Abrasives are mineral-like materials available in different sizes, shapes and sizes depending upon the need. Norton grinding wheels are used to clean, abrade, scour, grind and remove solid materials by the action of rubbing.
Two kinds of abrasives are available in the global abrasives market as synthetic and natural. Most of the natural abrasives have been replaced by synthetic abrasives in the abrasives market due to their consistent properties as required in industrial applications.
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| Attributes | Details |
| Abrasives Market Value in 2020 | US$ 45 Bn |
| Abrasives Market CAGR (2022-2032) | 4.3% |
What Variables Promote Adoption of Abrasives Market?
“The rise of the metal fabrication sector, as well as the focus on fast industrialization in emerging nations is predicted to change the propensity of both suppliers and customers towards the abrasive market.”
Abrasives market covers a wide variety of materials used on large scale in various industries such as transportation, metal fabrication, machinery and electronic equipment. General application of abrasive material includes grinding wheel, tumbling media, cutting wheels, tool sharpening and metal cleaning.
Some of the high-end industrial applications of the Norton grinding wheels market are peening, de-flashing, paint stripping, blasting sand cleaning and de-burring. Apart from natural diamonds most of the abrasives are variable with their properties.
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How is the Abrasives Market Classified?
“In the abrasives market, the metal fabrication segment is the fastest-growing end-use industry segment.”
Based on product type, the global abrasives market is segmented as coated abrasives, steel abrasives, loose abrasive grains, raw super abrasives, bonded abrasives and others. As of 2013, amongst the product type segments, bonded abrasives segment is predominant in terms of market share followed by coated abrasives and loose abrasive grains.
The bonded abrasives market segment market is expected to maintain its dominant position during the forecast period. Whereas, in terms of revenue; super abrasives is the fastest-growing segment in the global abrasives market with a double-digit CAGR.
Due to the rising demand for loose abrasive grains from abrasive product manufacturers, the loose grain segment is estimated to record strong growth during the forecast period in the abrasives market. As of 2013, the use of abrasives in machinery is predominant for the abrasives market.
This is followed by Norton grinding wheels, transportation and electronic equipment. However, industries such as transportation and electronic equipment are estimated to record robust growth due to higher demand for automobiles and electronic appliances.
Apart from this use of abrasives in construction, cleaning, maintenance, power generation and medical devices are expected to rise significantly in the coming years thus driving demand in the global abrasives market.
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Which is the Leading Abrasive Market?
“Growing demand for abrasives from the automotive, manufacturing, and metal fabrication will keep the market at its best in Asia Pacific.”
The global abrasives market is estimated to grow two-fold in terms of market revenue, with a double-digit CAGR for the forecast period. As of 2013, the Asia-Pacific abrasives market dominated the global abrasives market in terms of volume followed by Western Europe and North America.
The growth of the Asia-Pacific abrasives market is supported by various factors such as increasing production of automobiles, electronic equipment, medical devices and packaging especially in emerging economies such as India and China.
Trends in the global abrasives market such as the use of abrasives in blasting sand cleaning and water jet cutting technology in industrial applications for achieving faster and more efficient operation is increasing significantly.
Advancement in technology, increase in overall trade and transportation globally will fuel the abrasives market to a large extent, especially in the emerging economies of India and China.