Abrasive Market By Size, Share and Forecast 2029F

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 35.08 Billion
Market Size (2029)	USD 47.95 Billion
CAGR (2024-2029)	5.19%
Fastest Growing Segment	Machinery
Largest Market	North America

Market Overview

Global Abrasive Market was valued at USD 35.08 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.19% through 2029.

The abrasive market refers to the dynamic and multifaceted global industry involved in the production, distribution, and utilization of abrasive materials and products. Abrasives are substances, typically minerals, used to shape, finish, or polish surfaces through processes like grinding, cutting, and sanding. In the abrasive market, a diverse array of materials such as aluminum oxide, silicon carbide, and diamond are manufactured into abrasive tools, including grinding wheels, sandpaper, and cutting discs.

This market serves a broad spectrum of industries, including automotive, construction, aerospace, electronics, and metal fabrication, playing a pivotal role in enhancing the efficiency and quality of manufacturing processes. The demand for abrasives is intricately linked to global economic activities, with fluctuations in sectors like construction and manufacturing influencing market dynamics. Technological advancements, environmental regulations, and competitive forces contribute to the continuous evolution of the abrasive market, necessitating adaptability and innovation among manufacturers to meet the diverse needs of industries worldwide.

Key Market Drivers

Increasing Demand in Automotive Industry

The global abrasive market is experiencing a significant boost due to the rising demand within the automotive industry. Abrasives play a crucial role in various stages of automotive manufacturing, from initial metal shaping to final polishing. With the automotive sector witnessing continuous growth, especially in emerging markets, the demand for abrasives has surged. Abrasives are utilized in tasks such as weld seam removal, paint preparation, and surface finishing, contributing to the overall efficiency and quality of automobile production processes.

As automotive manufacturers focus on enhancing the aesthetic appeal and performance of their vehicles, the need for advanced abrasive materials has intensified. Abrasives with superior cutting and polishing capabilities are essential for achieving the desired surface quality in automotive components. Additionally, the trend towards lightweight and high-strength materials in the automotive sector has increased the adoption of abrasives for precision machining and finishing of these materials.

Rapid Expansion of Construction and Infrastructure Development

The global construction and infrastructure development boom is another major driver propelling the abrasive market forward. As urbanization and industrialization continue to escalate, there is a growing demand for abrasives in construction activities. Abrasives are employed in tasks such as concrete surface preparation, metal fabrication, and the finishing of various construction materials.

The construction industry's preference for durable and aesthetically pleasing structures has led to an increased use of abrasives in achieving smooth and polished surfaces. Moreover, the surge in renovation and remodeling projects worldwide has further augmented the demand for abrasives in tasks like paint removal, surface cleaning, and restoration.

Technological Advancements in Abrasive Manufacturing

Continuous innovations in abrasive manufacturing technologies have significantly contributed to the expansion of the global abrasive market. Manufacturers are investing in research and development to create abrasives with enhanced properties, such as increased durability, precision, and efficiency. Advanced abrasive materials are being developed to meet the evolving needs of industries such as aerospace, electronics, and medical devices.

The incorporation of nanotechnology in abrasive manufacturing has opened new avenues for creating abrasives with superior performance characteristics. Nanomaterials allow for precise control over abrasive particle size and distribution, resulting in improved cutting and finishing capabilities. These technological advancements not only cater to the current requirements of industries but also pave the way for the development of next-generation abrasives with even more advanced features.

Government Policies are Likely to Propel the Market

Environmental Regulations and Sustainable Practices in Abrasive Manufacturing

In response to growing environmental concerns, governments worldwide are implementing stringent regulations to govern abrasive manufacturing processes. Environmental policies are designed to minimize the environmental impact of abrasive production, usage, and disposal. One primary focus is on reducing the emission of pollutants and hazardous substances during manufacturing.

Governments are encouraging abrasive manufacturers to adopt sustainable practices, such as the use of eco-friendly raw materials, energy-efficient production methods, and the development of recyclable abrasive products. Regulatory bodies are imposing emission standards and waste disposal guidelines to ensure that the abrasive industry contributes to global sustainability goals.

These policies not only aim to protect the environment but also foster innovation within the abrasive sector. Manufacturers are incentivized to invest in research and development for eco-friendly abrasives, leading to the evolution of greener technologies that align with global sustainability initiatives.

Trade Tariffs and Import/Export Regulations

Governments play a pivotal role in shaping the global abrasive market through trade policies, including tariffs and import/export regulations. Trade tariffs on abrasive products can influence their pricing, competitiveness, and market dynamics. Governments may impose tariffs to protect domestic industries or address trade imbalances.

On the other hand, some governments may implement policies to facilitate the smooth flow of abrasives across borders, fostering international trade and cooperation. Reductions in trade barriers can lead to increased market access for abrasive manufacturers, allowing them to explore new markets and establish global partnerships.

Understanding and navigating these trade policies are crucial for participants in the abrasive market, as they directly impact the cost structure, market reach, and competitiveness of abrasive products on a global scale.

Occupational Health and Safety Regulations in Abrasive Industries

Governments globally are committed to ensuring the health and safety of workers in abrasive manufacturing industries. Occupational health and safety regulations set standards for workplace conditions, machinery usage, and the handling of abrasive materials. These policies are designed to prevent accidents, protect workers from exposure to hazardous substances, and promote a safe working environment.

Governments collaborate with industry associations and regulatory bodies to establish guidelines that address potential risks associated with abrasive manufacturing processes. Compliance with these regulations is mandatory for abrasive manufacturers, and failure to adhere to safety standards can result in legal consequences.

These policies not only prioritize the well-being of workers but also contribute to the overall reputation of the abrasive industry by showcasing a commitment to responsible and ethical business practices.

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Key Market Challenges

Raw Material Supply Chain Volatility

One significant challenge facing the global abrasive market is the inherent volatility in the supply chain of raw materials. Abrasive materials, such as aluminum oxide, silicon carbide, and diamond, are essential components in abrasive manufacturing. The availability and pricing of these raw materials are subject to various factors, including geopolitical events, trade tensions, and fluctuations in global commodity markets.

Geopolitical tensions can disrupt the supply of raw materials as trade restrictions, embargoes, or political instability in key producing regions impact the flow of materials to manufacturing hubs. Additionally, the global interconnectedness of supply chains means that disruptions in one part of the world can have cascading effects, creating challenges for abrasive manufacturers located elsewhere.

Price volatility is another critical aspect of the raw material challenge. Abrasive manufacturers often face uncertainty in the cost of acquiring key raw materials, affecting their production costs and profit margins. This unpredictability makes it challenging for companies to plan and implement long-term strategies, impacting their ability to provide stable pricing to customers.

To address these challenges, abrasive manufacturers need to implement robust supply chain management strategies, diversify their sources of raw materials, and explore sustainable alternatives to mitigate the impact of geopolitical and economic uncertainties on their operations.

Intense Competition and Price Pressures

The global abrasive market is characterized by intense competition among a myriad of manufacturers, both large and small. The proliferation of abrasive manufacturers worldwide has led to increased competition for market share, exerting downward pressure on prices. This scenario poses a significant challenge for companies striving to maintain profitability while offering competitive pricing to attract and retain customers.

As a result of globalization, customers often have access to a wide range of abrasive products from various suppliers. This heightened competition compels manufacturers to continually innovate, improve efficiency, and explore cost-cutting measures to stay competitive. However, the pursuit of cost efficiency can sometimes lead to compromises in product quality or environmental sustainability, posing ethical and reputational risks for companies.

The commoditization of certain abrasive products further intensifies the competition, as customers may prioritize price over brand loyalty or product differentiation. This creates a challenging environment for manufacturers to differentiate themselves based on factors other than price, such as product innovation, quality, or environmentally friendly practices.

To navigate this challenge, abrasive manufacturers must focus on building strong brand identities, emphasizing the value of their products beyond price alone. Investing in research and development to create innovative and high-performance abrasive solutions can also help companies stand out in a crowded market. Additionally, forming strategic partnerships and alliances can provide opportunities to leverage complementary strengths and enhance overall competitiveness in the global abrasive market.

Key Market Trends

Shift Towards Eco-Friendly Abrasives:

There is a noticeable shift towards eco-friendly abrasives driven by growing environmental concerns and regulatory pressures worldwide. Traditional abrasive materials often contain harmful substances such as silica, which pose health risks to workers and environmental hazards during production and disposal. In response, manufacturers are investing in research and development to innovate sustainable abrasive materials derived from natural sources or recycled materials. For instance, abrasive products made from biodegradable materials like walnut shells or corn cobs are gaining popularity due to their minimal environmental impact and safe disposal characteristics. Additionally, water-based abrasive technologies are emerging as a greener alternative to conventional solvent-based abrasives, reducing air pollution and minimizing health risks for workers. This trend reflects a growing awareness among consumers and industries about the importance of sustainability, driving the adoption of eco-friendly abrasive solutions across various applications such as automotive, aerospace, construction, and electronics manufacturing.

Segmental Insights

Material Insights

The Natural segment held the largest Market share in 2023. In certain traditional or specific applications, natural abrasives like emery and pumice have a historical presence and may continue to be used due to established practices and familiarity.

In some cases, natural abrasives may be more cost-effective for certain applications, especially when the specific characteristics of synthetic abrasives are not required.

There is a growing awareness of environmental sustainability. Natural abrasives, being derived from minerals, may be perceived as more environmentally friendly in some contexts compared to synthetic abrasives, which involve industrial processes.

Natural abrasives may still find niche applications where their unique properties are beneficial. For example, natural diamonds might be preferred for certain precision cutting or grinding tasks.

Natural abrasives are sourced from naturally occurring minerals, making them a renewable resource. In some industries, there might be a preference for materials that are perceived as more sustainable.

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Regional Insights

North America held the largest market share in 2023. North America stands as a formidable force in the Global Abrasive Market, wielding dominance driven by a confluence of factors spanning historical, economic, and technological dimensions. This regional superiority isn't merely a happenstance but a result of strategic advantages and dynamic market forces that have propelled North America to the forefront of this industry.

North America boasts a rich history in industrialization, dating back to the 19th century. With the advent of the Industrial Revolution, the region witnessed a rapid expansion of manufacturing sectors, giving rise to a robust demand for abrasives. This historical foundation laid the groundwork for the development of advanced abrasive technologies and manufacturing processes, positioning North American companies as pioneers in the field.

North America benefits from a thriving industrial landscape and a diverse range of end-user industries. The region is home to a multitude of sectors such as automotive, aerospace, construction, and metal fabrication, all of which heavily rely on abrasive materials for various manufacturing and surface finishing applications. This diverse industrial base ensures a consistent and substantial demand for abrasives, providing a fertile ground for market growth and expansion.

North America's emphasis on innovation and technological advancement has propelled the region to the forefront of abrasive manufacturing. Companies in the region continually invest in research and development initiatives to enhance product quality, performance, and sustainability. This relentless pursuit of innovation has resulted in the development of cutting-edge abrasive materials, tools, and solutions that cater to the evolving needs of industries worldwide.

To its strong industrial foundation and technological prowess, North America benefits from a well-established infrastructure and distribution network. The region boasts extensive transportation networks, logistical capabilities, and supply chain efficiencies, facilitating the seamless movement of abrasive products across domestic and international markets. This robust infrastructure enables North American companies to reach a global customer base efficiently, consolidating their position as leaders in the abrasive market.

North America's commitment to environmental sustainability and regulatory compliance has bolstered its competitive advantage in the global market. The region enforces stringent environmental regulations and standards governing the production, usage, and disposal of abrasive materials, fostering responsible practices and eco-friendly solutions. This proactive approach not only enhances the reputation of North American companies but also resonates with environmentally conscious consumers and businesses worldwide

Recent Developments

In March 2023, Carborundum Universal Limited (CUMI), a premier producer of abrasives, ceramics, electro minerals, and refractories, unveiled their latest innovation, CUMI Monk, at the GrindTec Fair in Leipzig, Germany. CUMI Monk, also known as Monocrystalline Alumina, is produced through a fusion process utilizing specialty alumina combined with unique additives. This advanced manufacturing technique results in each monocrystalline alumina particle being a singular crystal of alpha-phase alumina.

Key Market Players

Compagnie de Saint-Gobain S.A.
3M Company
Robert Bosch GmbH
Fujimi Incorporated
Carborundum Universal Limited
Mirka Ltd
Pferd Inc.
Osborn GmbH

By Material	By Product Type	By Application	By Region
Natural Synthetic	Bonded Coated Super	Automotive Electrical & Electronics Metal Fabrication Machinery Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Abrasive Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Abrasive Market, By Material:

o Natural

o Synthetic

Abrasive Market, By Product Type:

o Bonded

o Coated

o Super

Abrasive Market, By Application:

o Automotive

o Electrical & Electronics

o Metal Fabrication

o Machinery

o Others

Abrasive Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe

§ France

§ United Kingdom

§ Italy

§ Germany

§ Spain

o Asia-Pacific

§ China

§ India

§ Japan

§ Australia

§ South Korea

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Saudi Arabia

§ UAE

§ Kuwait

§ Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Abrasive Market.

Available Customizations:

Global Abrasive Market report with the given Market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional Market players (up to five).

Global Abrasive Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Formulation of the Scope

2.4. Assumptions and Limitations

2.5. Sources of Research

2.5.1. Secondary Research

2.5.2. Primary Research

2.6. Approach for the Market Study

2.6.1. The Bottom-Up Approach

2.6.2. The Top-Down Approach

2.7. Methodology Followed for Calculation of Market Size & Market Shares

2.8. Forecasting Methodology

2.8.1. Data Triangulation & Validation

3. Executive Summary

4. Voice of Customer

5. Global Abrasive Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Material (Natural and Synthetic)

5.2.2. By Application (Automotive, Electrical & Electronics, Metal Fabrication, Machinery, and Others)

5.2.3. By Product Type (Bonded, Coated, and Super)

5.2.4. By Region

5.2.5. By Company (2023)

5.3. Market Map

6. North America Abrasive Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Material

6.2.2. By Application

6.2.3. By Product Type

6.2.4. By Country

6.3. North America: Country Analysis

6.3.1. United States Abrasive Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Material

6.3.1.2.2. By Application

6.3.1.2.3. By Product Type

6.3.2. Canada Abrasive Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Material

6.3.2.2.2. By Application

6.3.2.2.3. By Product Type

6.3.3. Mexico Abrasive Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Material

6.3.3.2.2. By Application

6.3.3.2.3. By Product Type

7. Europe Abrasive Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Material

7.2.2. By Application

7.2.3. By Product Type

7.2.4. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Abrasive Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Material

7.3.1.2.2. By Application

7.3.1.2.3. By Product Type

7.3.2. United Kingdom Abrasive Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Material

7.3.2.2.2. By Application

7.3.2.2.3. By Product Type

7.3.3. Italy Abrasive Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Material

7.3.3.2.2. By Application

7.3.3.2.3. By Product Type

7.3.4. France Abrasive Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Material

7.3.4.2.2. By Application

7.3.4.2.3. By Product Type

7.3.5. Spain Abrasive Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Material

7.3.5.2.2. By Application

7.3.5.2.3. By Product Type

8. Asia-Pacific Abrasive Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Material

8.2.2. By Application

8.2.3. By Product Type

8.2.4. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Abrasive Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Material

8.3.1.2.2. By Application

8.3.1.2.3. By Product Type

8.3.2. India Abrasive Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Material

8.3.2.2.2. By Application

8.3.2.2.3. By Product Type

8.3.3. Japan Abrasive Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Material

8.3.3.2.2. By Application

8.3.3.2.3. By Product Type

8.3.4. South Korea Abrasive Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Material

8.3.4.2.2. By Application

8.3.4.2.3. By Product Type

8.3.5. Australia Abrasive Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Material

8.3.5.2.2. By Application

8.3.5.2.3. By Product Type

9. South America Abrasive Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Material

9.2.2. By Application

9.2.3. By Product Type

9.2.4. By Country

9.3. South America: Country Analysis

9.3.1. Brazil Abrasive Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Material

9.3.1.2.2. By Application

9.3.1.2.3. By Product Type

9.3.2. Argentina Abrasive Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Material

9.3.2.2.2. By Application

9.3.2.2.3. By Product Type

9.3.3. Colombia Abrasive Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Material

9.3.3.2.2. By Application

9.3.3.2.3. By Product Type

10. Middle East and Africa Abrasive Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Material

10.2.2. By Application

10.2.3. By Product Type

10.2.4. By Country

10.3. Middle East and Africa: Country Analysis

10.3.1. South Africa Abrasive Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Material

10.3.1.2.2. By Application

10.3.1.2.3. By Product Type

10.3.2. Saudi Arabia Abrasive Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Material

10.3.2.2.2. By Application

10.3.2.2.3. By Product Type

10.3.3. UAE Abrasive Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Material

10.3.3.2.2. By Application

10.3.3.2.3. By Product Type

10.3.4. Kuwait Abrasive Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Material

10.3.4.2.2. By Application

10.3.4.2.3. By Product Type

10.3.5. Turkey Abrasive Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Material

10.3.5.2.2. By Application

10.3.5.2.3. By Product Type

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

13. Company Profiles

13.1. Compagnie de Saint-Gobain S.A.

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel/Key Contact Person

13.1.5. Key Product/Services Offered

13.2. 3M Company

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel/Key Contact Person

13.2.5. Key Product/Services Offered

13.3. Robert Bosch GmbH

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel/Key Contact Person

13.3.5. Key Product/Services Offered

13.4. Fujimi Incorporated

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel/Key Contact Person

13.4.5. Key Product/Services Offered

13.5. Carborundum Universal Limited

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel/Key Contact Person

13.5.5. Key Product/Services Offered

13.6. Mirka Ltd

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel/Key Contact Person

13.6.5. Key Product/Services Offered

13.7. Pferd Inc.

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel/Key Contact Person

13.7.5. Key Product/Services Offered

13.8. Osborn GmbH

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel/Key Contact Person

13.8.5. Key Product/Services Offered

14. Strategic Recommendations

15. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the Market size of the Global Abrasive Market in 2023?

The Market size of the Global Abrasive Market was USD 35.08 billion in 2023.

Which was the dominant segment by material in the Global Abrasive Market in 2023?

In 2023, the Natural segment captured the largest market share. In various traditional and specialized applications, natural abrasives such as emery and pumice have a longstanding presence and continue to be utilized due to established practices and user familiarity.

Which was the dominant segment by application in the Global Abrasive Market in 2023?

In 2023, the Automotive segment dominated the market share. The manufacturing of automotive components necessitates precise shaping and finishing of metal parts. Abrasives are integral in meeting the stringent standards demanded by components like engine parts, gears, and body panels.

What are the major drivers for the Global Abrasive Market?

The Global Abrasive Market is primarily propelled by the rising requirements in the automotive sector and the escalating demand within the construction industry.

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Press Release

Abrasive Market to Grow with a CAGR of 5.19% through 2029

May, 2024

Increasing demand from the automotive industry and growing demand from the construction industry are likely to drive the Market in the forecast period.

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