Stratistics MRC’s Global Abrasive Market value is expected to reach $76.79 billion growing at a CAGR of 6.50% during 2022-2028.
Materials called abrasives are employed to remove wood, concrete, ceramic, stone, or minerals. These materials offer a refined, completed appearance. The method is frequently used to polish materials to obtain a smooth, shiny surface. These items are used to give fabrics with matte, satin, or beaded finishes a rougher surface. The market's expansion is supported by the use of these materials in sandpapers, grinding wheels, polishes, honing stones, tumbling and vibratory mass finishing media, pulp stones, sandblasting, ball mills, and other equipment. Additionally, the industry is constantly changing as a result of shifting technologies and a scarcity of skilled labour.
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During the anticipated period, Asia Pacific controlled the global market and generated the greatest revenue share. Over the course of the projection period, market expansion is anticipated to be driven by improvements in infrastructure, rising manufacturing sector investments, and an increase in EV production in the region's growing economies. The demand for passenger and commercial vehicles is at an all-time high due to an increase in disposable income, particularly in developing nations. As a result, it is anticipated that in the years to come, this increased demand for cars will indirectly fuel the market for abrasives. During the projection period, the rise in electronic device sales is projected to increase demand for coated abrasives in the electronic industry, particularly in the consumer goods sector.
Some of the key players profiled in the Abrasive Market include Nippon Paint, Brookstone, Mirka, Carborundum Universal Ltd (CUMI), DuPont, 3M, Abrasive Technology Inc., Saint Gobain SA, ARC Abrasives Inc., Bosch Ltd., Fujimi Incorporated, Jason Incorporated, Asahi Diamond Industrial Co., Ltd, CMC Materials, Cabot Microelectronics Corporation, Radiac Abrasives, SAK Abrasives Limited, Uneeda Enterprizes Inc., Blue Ribbon Abrasives Co., Inc., Sterling Abrasives Limited.
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