Abrasives Market Overview
As per recent research by MarkNtel Advisors, the global Abrasives Market size was valued at USD 35.5 Billion in 2022 and is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2024-30.
Abrasives Market Dynamics
Market Drivers : The Automotive Industry's Growing Demand for Abrasives:
Since abrasives find substantial application across the automotive industry for repairing engine parts, auto body, and interior & exterior cleaning, among other applications, their demand is hiking worldwide. In fact, these materials are also used for cleaning the insides of components like pipes, smooth welds, edges, & surfaces for fitting, oiling, polishing, or painting. Such applications are augmenting the demand for abrasives across the automotive industry and driving the abrasives market.
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Abrasives Market Segmentation Overview 2024-2030: Key Factors
By Type
-Coated Abrasive
-Bonded Abrasive
By Bonding Agents
-Vitreous
-Resin
-Metal Bonded
-Electroplated
-Rubber
-Others
-Super Abrasive
By Raw Material
-Synthetic
-Aluminum oxide
-Metallic abrasives
-Silicon carbide
-Others
-Natural
By Application
-Machinery
-Aerospace
-Metal Fabrication
-Automotive
-Electrical & Electronics
-Others
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Abrasives Market Geographical Insights:
By Region:
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
Key Players and Competitive Strategies in the Abrasives Market
Several prominent players dominate the Abrasives Market, including:
- Robert Bosch GMBH
- 3M Company
- Saint-Gobain Abrasives, Inc.
- Fujimi Incorporated
- Asahi Diamond Industrial Co., Ltd.
- Cumi Murugappa Group (Carborundum Universal Limited)
- Mirka Ltd.
- Henkel AG & Co. KGaA
- Nippon Resibon Corporation
- Sankyo Rikagaku Co., Ltd.
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Questions Addressed in this Study
1.How big is the Abrasives Market Size?
2.What is the Abrasives Market Growth?
3.Who are the key players of the Abrasives Market?
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