Abrasives Market: By Raw Material (Natural & Synthetic), By Product Type (Bonded Abrasives, Coated Abrasives, Super Abrasives, Loose Abrasives), By End-User Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electrical & Electronics Equipment, Construction, Others), and Geography

Abrasives market is poised to grow at a CAGR of 5.2% over 2023-2029. An abrasive is a substance, frequently a mineral, that is used to shape or finish a workpiece by friction-induced wear and tear on a portion of the workpiece to abrasively cut, polish, shape, and grind other substances. The increased demand for abrasives by the industrial manufacturing and construction sectors for applications like grinding, cutting, shaping, and finishing materials such as metal, concrete, stone, and wood is expected to drive the market. Moreover, the continuous technological advancement in abrasive manufacturing processes, such as superabrasive materials has led to an increase in opportunities for scientists and manufacturers for market development. For instance, in November 2022, IIT Madras developed new-generation multi-point/single-layer superabrasive tools for advanced grinding applications to meet high productivity and energy-efficient material removal requirements. Furthermore, investment in various construction and infrastructure industries by the government along with the introduction of policies also propels the market growth. For instance, the Indian Government launched the “Smart Cities Mission” in 2015 to provide core infrastructure and, a clean and sustainable environment that has led to massive abrasive market expansion in that region. Additionally, the integration of digital technologies, automation, and data analytics into the manufacturing processes of abrasives has been in trend in the market. But the abrasive processes pose health hazards to workers owing to significant waste, dust, fumes, and emissions are bottlenecks of the market. However, the growth in manufacturing and processing industries, increased investments by companies and government, urbanization, and industrialization are anticipated to increase the market growth over the forecasted period.

Abrasives Market Key Developments:

• In May 2023, Sak Abrasives Inc., a wholly owned subsidiary of Sak Industries Private Ltd acquired Jowitt & Rodgers Co, a manufacturer of resin bonded grinding wheels, discs and segments.
• In July 2022, Virginia Abrasives, a U.S.-based coated abrasive manufacturer and distributor acquired Johnson Abrasives to expand the market.