United States, Houston, Dec. 26, 2024 (GLOBE NEWSWIRE) — Saint-Gobain partnered with Dedeco Abrasive Products to market its sunburst abrasive line, aligning with its goal of delivering abrasive solutions. Meanwhile, Sak Abrasives Limited acquired Jowitt & Rodgers Co. to enhance its offerings of resin-bonded grinding products
Introspective Market Research is excited to unveil its latest report, “ Abrasives“ This in-depth analysis shows that the global Abrasives market, valued at USD 52.7 billion in 2023, is poised for substantial growth, expected to hit USD 82.46 billion by 2032. This growth trajectory aligns with a strong CAGR of 5.1% during the forecast period from 2024 to 2032.
Abrasives are hard materials, crucial for grinding, cutting, polishing, or shaping other materials through friction. Composed of minerals like aluminum oxide and silicon carbide, they play a significant role in manufacturing, particularly in smoothing surfaces and achieving precise finishes for industries such as metalworking, woodworking, and automotive production. key growth drivers is the expanding metal fabrication industry, fueled by the rising demand for pre-engineered buildings and components, along with advancements in the manufacturing sector. The growth of the metal fabrication industry is further propelled by increasing demand from various end-use industries such as automotive, aerospace, agriculture, and medical. Additionally, the abrasives market continues to evolve, driven by technological advancements and a shortage of skilled labor. The market faces challenges such as weather impact on seed production and competition from alternative seasonings. Price volatility caused by supply chain disruptions also threatens market stability. Despite these hurdles, growth is expected due to rising consumer interest in natural ingredients and innovations in product applications, including functional foods and supplements.
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Leading Factors Driving the Abrasives Market:
Increasing Demand for Abrasives in Various Industries
Abrasives play a crucial role in multiple industries, including manufacturing, construction, and automotive, where they are used for grinding, polishing, finishing, and shaping materials. With industry growth, the demand for abrasives is expected to rise. Super abrasives, such as diamond and cubic boron nitride, are particularly sought after in the automotive and aerospace sectors due to their effectiveness in handling tough materials.
In aerospace, abrasives are vital for tasks like cutting and polishing steam turbine castings and refining turbine blades. Bonded abrasives are commonly employed for rust removal, paint stripping, deburring, and polishing processes. The aerospace industry is evolving rapidly, with innovations that increase aircraft manufacturing; the Boeing Commercial Outlook 2023-2042 anticipates a global need for 48,575 new commercial aircraft by 2042. Additionally, the demand for consumer electronics and increased focus on electric vehicles and renewable energy has led to a heightened need for abrasives in producing components for these technologies.
Growing Metal Manufacturing and Fabrication Industries
The primary abrasive materials are aluminum oxides and silicon carbide, which account for 80-90% of abrasive grains and are produced locally. Other abrasives include cubic boron nitride (CBN), synthetic diamonds, and natural minerals like garnet and emery, although garnet’s usage is declining. CBN is particularly effective for cutting tough steels, while synthetic diamonds are primarily used in grinding wheels for ceramics and carbides. Natural diamonds are found in diamond-tipped drill bits and cutting tools for stone, cement, and glass. Other natural abrasives like silica sand and quartz finish wood, leather, rubber, and plastics.
The global rise in industrial and infrastructure projects has made abrasives essential for material removal, surface finishing, and defect elimination. They help metalworkers achieve high-quality standards in industries like construction, automotive, and aerospace. Advancements in techniques such as laser cutting and robotic welding are increasing the demand for specialized abrasives suited for high-performance tasks, particularly for handling various materials like steel, stainless steel, and aluminum in modern metal fabrication.
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What are the Key Opportunities for the Abrasives Market?
The electric vehicle (EV) industry is rapidly expanding, creating significant opportunities for the abrasives market. As manufacturers focus on producing lightweight materials and high-performance components, demand for specialized abrasives that improve manufacturing processes and product quality is on the rise. Innovation in abrasive products, including the creation of high-performance and environmentally friendly options, is driving market growth. Additionally, there is a growing trend toward sustainable practices, with manufacturers developing eco-friendly abrasive products that meet performance standards and global sustainability goals.
What are the Key Challenges in Abrasives Market?
Fluctuating prices of raw materials like aluminum oxide and silicon carbide pose significant challenges for manufacturers, affected by supply chain disruptions, geopolitical issues, and trade regulation changes, leading to increased production costs and diminished profitability. Dependence on imported materials exacerbates exposure to global price change. The abrasive production process, which involves hazardous chemicals, faces stringent regulatory scrutiny, escalating compliance costs and operational challenges. Environmental concerns from spent abrasive disposal prompt tighter regulations, further complicating production. While standardization can ensure quality, it may hinder innovation and market vibrancy. To remain competitive, manufacturers must expand supplier networks, invest in sustainable product R&D, and enhance employee training.
Key Manufacturers
Market key players and organizations within a specific industry or market that significantly influence its dynamics. Identifying these key players is essential for understanding competitive positioning, market trends, and strategic opportunities.
- 3M (U.S)
- ARC Abrasive (U.S)
- Bosch/sia Abrasives (Switzerland)
- Dewalt (U.S)
- Hermes Abrasives (U.S)
- Klingspor (Germany)
- Mirka (Finland)
- Nihon Kenshi (Japan)
- Noritake Coated Abrasive (U.S)
- Osborn (U.S)
- Pferd (Germany)
- Saint-Gobain (U.S)
- SAIT ABRASIVI (Italy)
- Tailin Abrasives (Philippines)
- United SteeAbrasives (U.S)
- Walter Surface Technologies (U.S)
- Weiler (U.S)
- Zhengzhou KINGSHARK Abrasives (China), and Other Active Players
In December 2023, Saint-Gobain announced a partnership with Dedeco Abrasive Products, a speciality abrasives manufacturer, where Saint-Gobain would market Dedeco’s sunburst abrasive line. This partnership aligns with the company’s comprehensive goal of delivering abrasive solutions.
In October 2023, Tyrolit Group acquired Acme Holding Company, a Michigan-based abrasives manufacturer, to enhance its grinding and specialty abrasives portfolio. The facility is its seventh in the U.S., serving key industries like foundry, steel, and rail.
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Key Segments of Market Report
By Product Type
The Bonded segment is projected to dominate the market during the forecast period due to its versatility and durability. Bonded abrasives, suitable for grinding, cutting, polishing, and deburring, withstand high temperatures, pressure, and abrasion, making them ideal for tough industrial tasks. Made from materials bonded with resin or rubber, they are preferred for their strength and adaptability. Although nano-abrasives are still developing, they promise greater efficiency than traditional abrasives. Innovative materials enhance product performance, boost productivity, and reduce environmental impact, allowing for precise machining and superior surface finishes across various industrial applications.
By End-User
The Automotive sector accounted for the largest share of the market, with various abrasive applications such as sharpening and polishing of automotive components. In 2023, the automotive industry saw significant growth thanks to economic progress and changing consumer preferences. According to the OICA, global production reached approximately 93.55 million vehicles, an increase of 10.26% from 2022. The Asia-Oceania region led with 55.11 million units produced, while North America and Europe also showed significant increases.
By Material
The Synthetic segment is expected to lead the abrasives market concerning demand throughout the forecast period. This is due to the reliable characteristics of synthetic abrasives like aluminum oxide, silicon carbide, and boron nitride, which render them more suitable for industrial uses, supplanting natural abrasives. The rising application of abrasives in dentistry is playing a major role in market expansion.
By Region
The Asia-Pacific region is set to dominate the abrasives market, fueled by rising manufacturing investments and increased EV production in developing countries. Southeast Asia, especially South Korea, showcases strong abrasive markets, with government plans for 830,000 residential units by 2025 benefiting areas like Seoul. India’s electronics sector, bolstered by the ICEA, expects rising abrasives demand for its USD 300 billion ecosystem by 2025. Population growth, consumer demand, and government initiatives further enhance investments and infrastructure development, solidifying the region’s leadership.
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Comprehensive Offerings:
- Historical Market Size and Competitive Analysis (2017–2023): Assessment of market size and competition history.
- Historical Pricing Trends and Regional Price Curve (2017–2023): Historical pricing data analysis across various regions.
- Market Size, Share, and Forecast by Segment (2024–2032): Market size, share, growth projections, and insights segmented.
- Market Dynamics: Analysis of growth drivers, restraints, opportunities, and regional trends.
- Market Trend Analysis: Emerging trends shaping market landscape evaluation.
- Import and Export Analysis: Trade patterns influence market dynamics significantly.
- Market Segmentation: Market segments analysis with regional breakdown included.
- Competitive Landscape: Key players’ strategic profiles and benchmarking.
- PESTLE Analysis: Market evaluation using PESTLE factors: Political, Economic, Social, Technological, Legal, Environmental.
- PORTER’s Five Forces Analysis: Competitive forces market assessment.
- Industry Value Chain Analysis: Analysis of value chain to pinpoint key contributors.
- Legal and Regulatory Environment by Region: Legal landscape analysis impacts business operations significantly.
- Strategic Opportunities and SWOT Analysis: Identifying profitable opportunities through SWOT analysis.
- Conclusion and Strategic Recommendations: Insights and recommendations for stakeholders.
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