Abrasives Market Trends set to witness Explosive growth by 2030

Global Abrasives Market Overview:

According to MarkNtel Advisors study the Global Abrasives Market size was valued at USD 35.5 Billion in 2022 and is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2024-30. The market is projected to experience significant growth in the coming years due to the surge in construction & manufacturing activities worldwide. The demand for abrasives in the construction industry for woodworking, fabrication, metal components, and other uses is particularly high in various developing countries. As a result, abrasives manufacturers have the immense potential to capitalize on these opportunities and achieve substantial revenue & market share.

Key Findings of the Study: Abrasives market

Global Abrasives Market Growth Restraint:

Unavailability of Raw Material & Stringent Government Regulations for Abrasive Use: While abrasives are developed from different raw materials, where the common raw materials include aluminum oxide, cubic boron nitride, silicon carbide, ceramics, & synthetic diamond, procured from renewable resources like petroleum, the depletion of these resources is causing a shortage of abrasive production. Additionally, strict regulations set by the governments of different countries on confining the use of non-renewable resources are further limiting the availability of these materials and negatively impacting the Abrasives Market growth.

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Scope of the Abrasives Market Report Segmentation

-By Type

Coated Abrasive
Bonded Abrasive
Super Abrasive

-By Raw Material

Synthetic
Natural

-By Application

Machinery
Aerospace
Metal Fabrication
Automotive
Electrical & Electronics
Others

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Geographical analysis:

-By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Of all regions globally, Asia-Pacific is anticipated to dominate the Abrasives Market with the largest share during 2024-30. It owes to its flourishing automotive industry and the growing number of construction activities across different countries in the region, creating the demand for abrasives and generating lucrative opportunities for the abrasives market leaders to increase their production & distribution capacities in order to cater to the burgeoning end-user requirements.

Global Abrasives Industry Recent Development

In October 2022, Boride Engineered Abrasives introduced a fresh addition to its range of polishing equipment, the HTSG-3S High Torque Air Grinder. This new air grinder is the most robust one available in the air micro grinder series. The inclusion of this low-speed, high-torque grinder expands the variety of abrasives that can be used and reduces the occurrence of errors during the grinding process.

Current Landscape of Abrasives Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Abrasives market. The research report profiles major players, including

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Robert Bosch GMBH
3M Company
Saint-Gobain Abrasives, Inc.
Fujimi Incorporated
Asahi Diamond Industrial Co., Ltd.
Cumi Murugappa Group (Carborundum Universal Limited)
Mirka Ltd.
Henkel AG & Co. KGaA
Nippon Resibon Corporation
Sankyo Rikagaku Co., Ltd.
Noritake Co. Ltd.
Tyrolit Group
Boride Engineered Abrasives
Flexovit USA, Inc.
Abrasive Technology, Inc.

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Global Abrasives Market Overview:

Key Findings of the Study: Abrasives market