The global abrasives market was valued at $34,615 million in 2016, and is projected to reach $53,634 million by 2023, growing at a CAGR of 6.5% from 2017 to 2023. An abrasive is a type of hard metal, which is commonly used across various industries for cleaning, grinding, and polishing hard surfaces. These are classified into natural and synthetic abrasives. The abrasives market covers a wide variety of materials used on large scale in several products in industries, such as automotive, metal fabrication, machinery, electronics, and construction. The general applications of abrasive materials include grinding, tumbling media, cutting wheels, tool sharpening, and metal cleaning. Furthermore, industrial applications of abrasives market are peening, de-flashing, paint stripping, blast cleaning, and de-burring.
This report projects the trends and opportunities of the global abrasive market. It includes the qualitative & quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview with market growth and predict the market behavior during the forecast period.
Increase in the application areas of abrasives in metal fabrication and automotive industries fuels the market growth. Moreover, rise in production of electronic components in North America and Europe coupled with highest growth in consumption of medical devices in China and India are some key factors fueling the growth of the market. In addition, rise in demand for bonded abrasives among e-commerce industry and soaring applications of abrasives in construction, cleaning, maintenance, power generation, and medical devices are some other aspects bolstering the growth of the global abrasives market. Technological advancements and increase in overall trade & transportation globally are expected to fuel the abrasives market in the emerging countries, such as India, China, and Brazil.
The global abrasives market is segmented on the basis of type, material, end-user industry, and geography. Based on type, it is classified into bonded, coated, and super. Based on material, it is bifurcated into natural and synthetic. Based on end-user industry, it is categorized into automotive, metal fabrication, machinery, electronics, construction, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players in the global abrasives market include:
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By End-User Industry
The other players in the value chain (profiles not included in the report) include:
*The above list of companies is not profiled in the report, and can be added based on client interest.
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