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Abrasives Market worth $80.64 billion by 2030, growing at a CAGR of 5.75% - Exclusive Report by 360iResearch
Abrasives Market | 360iResearch
The Global Abrasives Market to grow from USD 54.50 billion in 2023 to USD 80.64 billion by 2030, at a CAGR of 5.75%.
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Abrasives are materials, often minerals, used to finish or shape a workpiece through friction or rubbing, leading to part of the workpiece being worn away. They play a critical role in several industrial applications, including grinding, polishing, and sanding, among others. These materials are available in various forms, such as discs, belts, rods, and sheets, and are commonly used in the automotive, metal fabrication, electronics, and construction sectors. The abrasive utilization is primarily driven by the increasing demand for precision machining and the rising need for efficiency and productivity in manufacturing processes. The robust growth in the automotive sector, where abrasives are used for finishing metal surfaces, contributes significantly to market expansion. Advances in abrasive materials and technology that offer superior performance and longevity also serve as growth catalysts. One of the primary challenges the abrasives industry faces is stringent regulations on the environmental impact of abrasive materials. Many conventional abrasives release harmful particulates during use, necessitating the development of cleaner and safer alternatives. The wear and tear on manufacturing machinery from using abrasives, leading to high maintenance costs, poses additional challenges. Emerging opportunities in the abrasives are linked to the innovation of eco-friendly abrasive materials designed to minimize environmental impact. Growth in industries such as aerospace, where precision engineering is key, and the increase in automation within manufacturing workflows offer significant potential for the expanded use of specialized abrasive products. The rising trend of DIY activities employing abrasives for home improvement projects further broadens the scope.
Market Segmentation & Coverage:
This research report categorizes the Abrasives Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Natural and Synthetic. The Natural is further studied across Corundum, Diamonds, Emery, Flint, Granet, Pumice, Quartz, and Sandstone. The Synthetic is further studied across Calcium Carbide, Fused Alumina or Alundum, Oron Carbide, and Silicon Carbide. The Synthetic is projected to witness significant market share during forecast period.
Based on Product, market is studied across Bonded Abrasives, Coated Abrasives, and Super Abrasives. The Bonded Abrasives is further studied across Diamond Wheels, Grinding Wheels, Polishing Stones, and Polishing Wheels. The Coated Abrasives is further studied across Belts, Discs, Rolls, Sheets, and Specialty Items. The Super Abrasives is further studied across Cubic Boron Nitride, CVD Diamond, Nanodiamonds, and Polycrystalline. The Super Abrasives is projected to witness significant market share during forecast period.
Based on Applications, market is studied across Aerospace & Defense, Automotive, Construction Equipment, Electrical & Electronic, Furniture & Wood, Machinery, Marine & Shipbuilding, Metal Fabrication, and Nonmetallic Mineral. The Machinery is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Abrasives Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Abrasives Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Abrasives Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Abrasiflex, Abrasive technologies LLC, Asahi Diamond Industrial, Carborundum Universal Limited, Deerfos, DuPont de Nemours, Inc., Fujimi Incorporated, Grind Master Machines Pvt., Ltd., Günter Wendt GmbH, Hilti Corporation, ILIYCH Abrasive Company, Indústria Abrasivos S.A., Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG, Nippon Resibon Corporation, Noritake Co.,Limited, NovoAbrasive Ltd., Radiac Abrasives Inc, Robert Bosch GmbH, Saint-Gobain S.A., Sankyo-Rikagaku, and sia Abrasives Industries AG.
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Abrasives Market, by Type
7. Abrasives Market, by Product
8. Abrasives Market, by Applications
9. Americas Abrasives Market
10. Asia-Pacific Abrasives Market
11. Europe, Middle East & Africa Abrasives Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Abrasives Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Abrasives Market?
3. What is the competitive strategic window for opportunities in the Abrasives Market?
4. What are the technology trends and regulatory frameworks in the Abrasives Market?
5. What is the market share of the leading vendors in the Abrasives Market?
6. What modes and strategic moves are considered suitable for entering the Abrasives Market?
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