Abrasives Market To Witness Massive Growth By 2030

Abrasives Market Summary

The global abrasives market size was estimated at USD 37.71 billion in 2023 and is projected to reach USD 52.59 billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030. This steady growth reflects the increasing use of abrasive materials in surface finishing, cutting, grinding, and polishing applications across a wide range of industrial processes.

One of the key growth drivers is the growing metal fabrication industry, driven by the increasing demand for pre-engineered buildings and components, along with ongoing developments in the manufacturing sector. Expansion of infrastructure projects and industrial production is boosting the need for efficient material processing solutions.

Growth of the metal fabrication industry is also driven by rising demand from various end-use industries, including automotive, aerospace, agriculture, and medical. These industries require high-precision components and surface finishing, which increases the demand for advanced abrasive products.

The market for abrasives is in a constant state of evolution due to technological advancements and a shortage of skilled labor. Manufacturers are increasingly adopting automated and high-performance abrasive solutions to improve productivity, reduce manual effort, and enhance operational efficiency.

Key Market Trends & Insights

• Asia Pacific dominated the global abrasives market with a revenue share of over 55.0% in 2023. Strong industrialization, expanding manufacturing activities, and large-scale infrastructure development support the region’s dominance.
• The U.S. abrasives market is anticipated to grow at a CAGR of 5.0% during the forecast period. Growth is supported by steady demand from automotive, aerospace, and construction industries.
• By product, the bonded abrasives segment accounted for the largest revenue share of over 43.0% in 2023. Their durability and wide application range contribute to segment leadership.
• By application, the automotive and transportation segment accounted for the largest revenue share of over 35.0% in 2023. High vehicle production and component manufacturing drive demand for abrasives in this segment.

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Market Size & Forecast

• 2023 Market Size: USD 37.71 billion
• 2030 Projected Market Size: USD 52.59 billion
• CAGR (2024-2030): 5.0%
• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights

Some of the key players operating in the market include 3M, Saint-Gobain, and Bosch Limited.

• 3M is a leading market player, primarily focusing on diversification of abrasives portfolio and providing a wide range of products to various industries. It emphasizes investment in R&D and more on sustainability, eco-friendly materials, and technologically advanced manufacturing processes that align with growing demand for environmentally conscious solutions.
• Saint-Gobain is another leading market player competing by adopting a strategic approach to global expansion through mergers & acquisitions to acquire complementary businesses and strengthen product offering portfolio. It invests heavily in R&D, focusing on development of advanced abrasives technologies.

KREBS & RIEDEL and Deerfos are some of the emerging market participants.

• KREBS & RIEDEL provides specialized abrasives for unique applications and is concentrated in niche markets. It adopts advanced manufacturing processes to stay competitive, thereby enhancing product quality and efficiency. This strategic initiative makes it an emerging player, constantly evolving to meet target market demands.
• Deerfos resorts to cost-effective abrasive solutions and target price sensitive markets to gain a competitive edge over competitors without hampering quality of product. This approach has helped them provide value driven product offerings and expand business portfolio.

Key Players

• 3M
• Asahi Diamond Industrial Co., Ltd.
• Bosch Limited
• Deerfos
• CUMI
• Henkel AG & Co, KGaA
• sia Abrasives Industries AG
• Saint-Gobain
• SAK ABRASIVES LIMITED
• TYROLIT Group

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Conclusion

The abrasives market is positioned for consistent growth driven by expanding metal fabrication activities and rising demand from key end-use industries. Technological advancements and automation are reshaping abrasive applications to address productivity challenges and labor shortages. Asia Pacific’s strong manufacturing base continues to support market dominance, while steady growth in the U.S. reflects sustained industrial demand. Dominance of bonded abrasives and automotive applications highlights their importance in precision manufacturing. Overall, continued industrial development and innovation will underpin long-term growth of the global abrasives market.