Abrasives Market Expected to Reach $67 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Abrasives Market," The abrasives market was valued at $42.6 billion in 2022, and is estimated to reach $67.0 billion by 2032, growing at a CAGR of 4.7% from 2023 to 2032. 

Abrasives are materials or substances that are used for grinding, polishing, cutting, or shaping other materials through the process of abrasion. They are characterized by their hardness, strength, and ability to remove material from surfaces through friction. Abrasives are available in various forms, including natural minerals, synthetic compounds, or a combination of both. They can be in the form of grains, powders, compounds, or coated or bonded materials.

The main purpose of abrasives is to alter the surface of a material by wearing it down or smoothing it out. This can involve removing unwanted material, such as burrs or rough edges, or achieving a desired finish, such as a polished or smooth surface. Abrasives are widely used in industries such as manufacturing, automotive, construction, metalworking, woodworking, electronics, and many others. They are employed in various applications, including grinding, sanding, cutting, polishing, deburring, and shaping different materials such as metals, ceramics, glass, plastics, and composites.

The choice of abrasives depends on factors such as the material being worked on, the desired level of precision, the type of application, and specific requirements of the task. Different types of abrasives, such as abrasive discs, grinding wheels, belts, or stones, are used in conjunction with appropriate tools or machinery to achieve the desired results.

Growth of manufacturing and industrial sectors is a significant driver of the abrasives market. Abrasives are indispensable in various manufacturing processes, including grinding, polishing, cutting, and finishing. As industrial activities expand, the demand for abrasives increases, thus propelling market growth. The manufacturing sector encompasses a broad range of industries, including automotive, aerospace, machinery, electronics, consumer goods, and others. Each of these industries rely on abrasives to varying degrees for their manufacturing operations. As these industries experience growth and innovation, the demand for abrasives correspondingly rises.

In addition, the metal fabrication and machinery industries are prominent users of abrasives. Abrasives find applications in processes such as deburring, weld removal, surface preparation, and precision machining of metal components. The expansion of these industries, driven by factors such as industrialization, urbanization, and technological advancements, positively impacts the abrasives market. The demand for abrasives for various metalworking operations, including grinding, polishing, and cutting increases as the metal fabrication industry grows. Moreover, advancements in machinery and equipment require higher precision, which necessitates the use of abrasives for achieving the desired surface finish and dimensional accuracy.

However, the abrasives market is highly competitive, with numerous players operating on both, global and regional levels. Manufacturers compete based on factors such as product quality, performance, price, delivery speed, and customer service. The presence of established market players, as well as the entry of new competitors, intensifies competition within the industry. This can lead to price pressures, reduced profit margins, and the need for continuous innovation and differentiation to maintain market share. Intense competition can also result in market saturation and consolidation, making it challenging for smaller players to compete effectively.

On the contrary, the growing awareness of environmental concerns and sustainability becomes an influential driver in the abrasives market. Industries and consumers are increasingly prioritizing eco-friendly and sustainable practices and products. In response, abrasives manufacturers are focusing on developing sustainable solutions to meet these demands and align with global sustainability goals.

For example, there is rise in preference for abrasive products that are recyclable, low in emissions, and environmentally friendly. In addition, manufacturers are exploring alternatives to traditional abrasive materials, such as natural and bio-based abrasives, to reduce the environmental impact of their products. The adoption of sustainable practices not only addresses environmental concerns but also offers market differentiation and competitive advantage.

The abrasives market is segmented on the basis of type, material, end-use industry, and region. By type, the market is segregated into bonded abrasives, coated abrasives, and super abrasives. The bonded abrasives segment dominated the global market, in terms of revenue in 2022. Bonded abrasives offer efficient material removal and are designed for high productivity. They enable manufacturers to achieve accurate shape, precise grind, and improved surface finishes, thereby enhancing manufacturing efficiency. As industries strive for increased productivity and quality, the demand for bonded abrasives grows.

By material, the market is segregated into natural abrasives and synthetic abrasives. The synthetic abrasives segment dominated the global market, in terms of revenue in 2022. Many industries, including automotive, aerospace, electronics, and medical devices, have strict requirements for surface quality, precision, and dimensional accuracy. Synthetic abrasives provide necessary control and consistency in material removal, enabling the achievement of fine finishes and precise tolerances. The demand for synthetic abrasives is driven by the need to meet these high standards in various manufacturing processes.

By end-use industry, the market is divided into automotive, metal fabrication, machinery, electronics, construction, and others. The automotive segment dominated the global market, in terms of revenue in 2022 with 48.3% share in the global market. The global population continues to grow, leading to increase in demand for transportation. Urbanization is also on the rise, with more people moving to cities and requiring reliable means of transportation. These trends drive the demand for automobiles, contributing to the growth of the automotive sector.

Abrasives play a role in maintaining brake components. Brake rotors and discs are capable of developing uneven surfaces, corrosion, or glazing over time. Abrasive pads, grinding stones, or abrasive wheels are used to resurface brake rotors, remove glazing, and ensure optimal braking performance. This factor is expected to act as one of the key drivers responsible for the growth of the abrasives market in the growing automotive sector.

Region-wise, the abrasives market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific abrasives market size is projected to grow at the highest CAGR during the forecast period, and accounted for a major market share in 2022, the Asia-Pacific region is experiencing rapid infrastructure development and construction activities, which drives the demand for abrasives in applications such as surface preparation, concrete grinding, and polishing. The construction industry's growth, particularly in countries such as China and India, contributes significantly to the growth of the abrasives market in the region.

Key players operating in the global abrasives market include 3M Company, Bullard Abrasives, Inc., Carborundum Universal Limited, Deerfos, Hindustan Abrasives, Osborn Lippert India Private Limited., Robert Bosch Power Tools GmbH, Saint-Gobain, SAK ABRASIVES LIMITED, and Sterling Abrasives Limited.

COVID-19 analysis:

The novel coronavirus was an incomparable global pandemic that spread over 180 countries and caused huge losses of lives and the economy around the globe. The COVID-19 pandemic led to disruptions in global supply chains, including the production and distribution of abrasives. Restrictions on international trade, factory closures, and transportation limitations affected the availability of raw materials and finished products, leading to delays and supply shortages.

Furthermore, many industries that heavily rely on abrasives, such as automotive, aerospace, and manufacturing, experienced a decline in demand during the pandemic. Reduced production activities, temporary closures, and decreased consumer spending negatively affected the demand for abrasives products. 

However, there is increase in emphasis on sustainable and eco-friendly practices across industries. This trend drives the demand for environmentally friendly abrasives, such as water-based and biodegradable products. Manufacturers in the abrasives market are responding to this demand by developing sustainable solutions, which are expected to contribute to the market growth.

Furthermore, the abrasives market continues to benefit from technological advancements. Innovations in abrasive materials, such as superabrasives, which include diamond and cubic boron nitride (CBN), are expanding the scope of applications and driving the market growth. In addition, advancements in manufacturing processes, such as additive manufacturing (3D printing), require specialized abrasives, creating new opportunities for the market.

Key Findings

• By type, the bonded abrasives segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.9% from 2023 to 2032.
• By material, the synthetic abrasives segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.7% from 2023 to 2032.
• By end-use industry, the automotive segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 4.8% from 2023 to 2032.
• Region-wise, Asia-Pacific garnered the highest share of around 40% in 2022, in terms of revenue, growing at a CAGR of 5.1%.