Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Global Abrasive Market: Materials, Products, and Applications" report has been added to ResearchAndMarkets.com's offering.
The global abrasives market is expected to reach $74 billion in 2028 from $57.8 billion in 2023 at a CAGR of 5.1%.
The report provides comprehensive information regarding the abrasive industry, including details about various types of abrasives, materials used as abrasives, abrasive manufacturers' most commonly used grains, manufacturers' production with values, manufacturers of products using abrasive materials primarily for machine tools, users of abrasive tools and other applications, and users of loose abrasives. Estimated values are based on manufacturers' total revenues.
Market Segmentation:
The abrasive market is segmented into the following categories:
Type:
- Abrasive Grains
- Abrasive Products
Application:
- Buffing
- Honing
- Drilling
- Grinding
- Polishing
- Cutting
- Sharpening
End Use:
- Metal Manufacturing
- Automotive
- Electronics
- Medical
- Energy
- Building and Construction
- Wood and Composites
Region:
- North America
- Europe
- Asia-Pacific (APAC)
- Rest of the World (RoW)
Key Players:
Some of the major players in the abrasives market include:
- 3M Co.
- Almatis GmbH
- Arc Abrasives Inc.
- Asahi Diamond Industrial Co. Ltd.
- Carborundum Universal Ltd.
- Dupont De Nemours Inc.
- Ehwa Diamond Industrial Co. Ltd.
- Fujimi Inc.
- Henkel AG & Co. Kgaa
- Robert Bosch GmbH
- Sak Industries Pvt. Ltd.
- Saint-Gobain
- Tyrolit-Schleifmittelwerke Swarovski AG & Co. Kg
Market Trends:
- The growth of the abrasive industry is closely tied to specific industries and overall economic climates in various countries. It can grow or contract drastically based on these factors, such as during the housing construction boom and subsequent collapse in the U.S. in the early 2000s.
- The abrasive industry's growth is closely linked to global GDP growth, with higher GDP growth in developing countries contributing to higher growth in the industry. The industry plays a greater role in a country's total GDP during manufacturing-driven growth phases.
- The revival of oil-based economies can also impact the abrasive industry positively, although the GDPs of these countries have only modest shares on a global basis.
ESG Considerations:
Environmental, Social, and Governance (ESG) factors are increasingly important in the global abrasives market. This includes consumer attitudes, an assessment of risks and opportunities, and the ESG practices followed by manufacturers and suppliers of abrasives.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $57.8 Billion |
| Forecasted Market Value (USD) by 2028 | $74 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
Chapter 4 Market Dynamics
- Market Drivers
- Increasing Demand for Abrasives from Automotive Industry
- Growth in Demand for Abrasives from Construction Industry
- Market Opportunities
- Niche Applications of Abrasives in Dental, Medical, and Jewelry Manufacturing
- Growing Demand for Super Abrasives
- Market Challenges
- Environmental Regulations
- Rising Raw Material Costs
Chapter 5 Global Market for Abrasives by Type
Chapter 6 Global Market for Abrasives by Application
Chapter 7 Global Market for Abrasives by End-Use Industry
Chapter 8 Global Market for Abrasives by Region
Chapter 9 Sustainability in Abrasive Industry: An Esg Perspective
Chapter 10 Emerging Technologies and Developments
Chapter 11 Patent Analysis
Chapter 12 Merger and Acquisition Outlook
Chapter 13 Competitive Intelligence
Chapter 14 Company Profiles
Chapter 15 Appendix: Acronyms
For more information about this report visit https://www.researchandmarkets.com/r/22vorl
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