Abrasives Market is Expected to Reach USD 62.21 Billion by 2030

The growing automotive industry along with the rising construction sector in emerging economies and surge in the adoption of industry 4.0 are boosting the growth of the global abrasives market. 

According to a new research report by Next Move Strategy Consulting, the global abrasives market was valued at USD 45.09 billion in 2023, and is expected to reach USD 62.21 billion by 2030, with a CAGR of 4.71% during the forecast period, 2024–2030.

The adoption of Industry 4.0 technologies is driving growth in the abrasives market as manufacturers increasingly seek advanced abrasive materials and technologies to enhance automation, efficiency, and precision in their production processes. Industry 4.0 principles, characterized by the integration of digital technologies, automation, and data analytics, are revolutionizing manufacturing operations, leading to a higher demand for abrasives for precision machining, surface finishing, and polishing applications.

In January 2023, Emirates Global Aluminum (EGA) and Microsoft UAE collaborated to accelerate Industry 4.0 adoption across industries in the UAE. This collaboration aims to set the global best practices for the aluminum industry while improving the sustainability of EGA’s computing operations. As industries embrace smart manufacturing practices, the need for high-performance abrasives to meet the demands of modern production methods is expected to rise, thus fueling market growth.

Moreover, the automotive and aerospace industries are experiencing significant growth, leading to increased demand for abrasives in various manufacturing processes such as grinding, polishing, and finishing. These abrasive materials play a crucial role in shaping and refining metal and composite components used in vehicle and aircraft production, ensuring precise and high-quality surface finishes. As these industries continue to expand, the need for abrasives to achieve superior surface quality and dimensional accuracy in manufacturing processes is expected to rise accordingly, driving market growth in the abrasives sector.

For instance, in October 2023, Moosefos launched new line of premium-quality abrasives, featuring advanced materials and innovative designs to enhance performance and durability in various industrial applications. This launch reflects the company's dedication to meeting the evolving needs of its customers and driving innovation in the abrasives market.

Moreover, in January 2023, Bosch launched GWS 800 professional, a new range of abrasives specifically designed for metalworking applications, catering to the needs of industrial users. This expansion aligns with Bosch's commitment to providing high-quality solutions for various manufacturing processes, contributing to the growth of the abrasives market.

However, environmental concerns along with health and safety regulation associated with abrasives are restraining the growth of the market. The abrasive manufacturing process and the disposal of used abrasives can have adverse environmental impacts, such as pollution and resource depletion, leading to stricter regulations and higher compliance costs. Also, abrasives can pose health risks to workers due to exposure to hazardous dust and particles, leading to stricter regulations and safety measures, which can increase operational costs for businesses.

On the contrary, the incorporation of nanotechnology into abrasive manufacturing allows for the creation of abrasives with extremely precise nanoscale features and manipulation of material properties. Nanomaterials offer distinct advantages, including better surface finishes, lower material removal rates, and increased resistance to abrasion. These enhancements result in improved performance and durability of abrasive products, meeting the high standards of quality and efficiency demanded by various industries.

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According to the report, leading players operating in the abrasives market include 3M Company, Saint-Gobain, Robert Bosch Power Tools GmbH, Bullard Abrasives, Inc., Carborundum Universal Limited, Deerfos, Hindustan Abrasives, Osborn Lippert India Private Limited, SAK Abrasives Limited, Sterling Abrasives Limited and others.

Key Insights from the Abrasives Market report:

• The information related to key drivers, restraints, and opportunities and their impact on the Abrasives market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of the players in the global Abrasives market and their competitive analysis are provided in the report.