Global Abrasives Market Projected to Grow at 7.9% CAGR, Reaching $67.77 Billion by 2029

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What Will the Abrasives Industry Market Size Be by 2025?
In the past few years, the size of the abrasives market has seen significant expansion. It is projected to ascend from a value of $46.55 billion in 2024 to a worth of $50.05 billion in 2025, representing a compound annual growth rate (CAGR) of 7.5%. This growth during the historical time frame can be credited to factors such as progress in construction and infrastructure, heightened levels of urbanization, an increase in industrial activity, a surge in disposable income, and a rising demand for sustainable and eco-friendly materials.

What's the Long-Term Growth Forecast for the Abrasives Market Size Through 2029?
Anticipated robust growth in the next few years is set to increase the size of the abrasives market to $67.77 billion by 2029, at a compound annual growth rate (CAGR) of 7.9%. The forecasted period growth is likely due to the heightened demand for abrasives in heavy-duty applications, the aerospace and electronics industries, as well as a stronger emphasis on safety and ergonomics in the design of abrasive equipment. The surge in adoption of green building standards is also a contributing factor. Future trends forecasted include the progression of abrasives technology, increased focus on sustainability, bespoke and specialized applications, digitalization of abrasive processes, and usage in 3D printing.

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What Are the Key Growth Drivers Fueling the Abrasives Market Expansion?
The rising electrical vehicle (EV) sector is predicted to spur the expansion of the abrasives market. These vehicles, powered by an electric motor and requiring an electricity port for charging, are replacing those that utilize internal combustion. This surge in demand for EVs has resulted in a compelling need to equip the vast global road network with EV charging stations. This trend indicates a sustained future growth for electric cars and therefore an increasing demand for stainless steel. Stainless steel provides the construction material for these charging stations and the abrasives required for its finish contribute to this demand escalation. Typically, all stainless steel requires at least one abrasive process before viable use. Every stainless-steel weld needs some level of grinding or polishing. For example, according to a report by the France-based International Energy Agency in April 2024, nearly 14 million EVs were sold worldwide in 2023, a 35% increase from 2022's figure. Electric cars represented around 18% of all new car sales in 2023, increasing from 14% in 2022 and a mere 2% in 2018. By the end of 2023, the total number of electric cars on the road hit 40 million. Consequently, the burgeoning EV industry is fueling the development of the abrasives market.

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What Are the Key Trends Driving Abrasives Market Growth?
Key players in the abrasives market are embracing strategic partnerships as a growth strategy. This type of partnership involves businesses utilizing each other's strengths and resources to reap mutual benefits and achieve collective success. For example, in October 2023, France's Compagnie de Saint-Gobain S. A., a producer of various high-performance and building materials, formed a partnership with U.S-based specialty abrasives manufacturer, Dedeco International Inc. This alliance enables Saint-Gobain Abrasives to distribute Dedeco's thermoplastic-bonded sunburst abrasives series, including brushes and discs with radial bristles suited for polishing, cleaning, deburring, and finishing metals and other materials. The main objective of this cooperation is to broaden the range of abrasives that Saint-Gobain Abrasives supplies to its North American customers.

How Is the Abrasives Market Segmented?
The abrasives market covered in this report is segmented -

1) By Raw Material: Natural, Synthetic
2) By Type: Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, Super Construction Abrasives
3) By Form: Block Form, Powdered Form
4) By Application: Grinding, Cutting, Polishing, Drilling, Finishing, Other Applications
5) By End User: Automotive, Machinery, Aerospace, Electrical & Electronics, Construction, Furniture

Subsegments:
1) By Bonded Abrasives: Grinding Wheels, Mounted Points, Abrasive Bricks, Bonded Abrasive Discs
2) By Coated Abrasives: Sanding Discs, Abrasive Belts, Sheets And Rolls, Flap Discs
3) By Super Precision Abrasives: Diamond Abrasives, CBN (Cubic Boron Nitride) Abrasives, High-Performance Grinding Tools
4) By Super Construction Abrasives: Cutting Tools, Specialty Abrasives For Construction Applications, Heavy-Duty Grinding Wheels

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Which Companies Are Leading the Charge in Abrasives Market Innovation?
Major companies operating in the abrasives market market include Robert Bosch GmbH, Minnesota Mining and Manufacturing Company, Saint-Gobain Abrasives Inc., Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit India Tool Pvt. Ltd., Asahi Diamond Industrial Co. Ltd., Deerfos Co. Ltd., Carborundum Universal Limited, Nippon Resibon Corporation, Krebs & Riedel Schleifscheibenfabrik GmbH & Co. KG, Abrasiflex Pty Ltd., Noritake Co. Ltd., Sankyo-Rikagaku Co. Ltd., Sia Abrasives Industries AG, Jason Incorporated, Schaffner Manufacturing Company Inc., North Industries Group Red Arrow Co. Ltd., 3M Deutschland GmbH, SAK ABRASIVES Inc., ARC Abrasives Inc., Arconic Corporation, DowDuPont Inc., Fiven ASA, Henan Huanghe Whirlwind Co. Ltd., Hermes Schleifmittel GmbH & Co. KG, Imerys S. A, Jowitt & Rodgers Co., Klingspor AG, Grindwell Norton Ltd., Luossavaara-Kiirunavaara AktiebolagMinerals AB, Mirka Ltd., Pferd Pharmaceutical Private Limited, Suhner Holding AG, Vereinigte Schmirgel- und Maschinen-Fabriken AG., Wendt (India) Limited, WINOA IKK JAPAN Co. Ltd., Y. Ikemura & Co. Ltd., Zische Schleifwerkzeuge GmbH

Which Regions Are Leading the Global Abrasives Market in Revenue?
Asia-Pacific was the largest region in the abrasives market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the abrasives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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