Abrasives Market Innovations Investigated by Size, Share And Growth Analysis For 2023-2032

WILMINGTON, DELAWARE, UNITED STATES, May 23, 2024 /EINPresswire.com/ -- Allied Market Research has released a report titled “Abrasives Market By Type (Bonded Abrasives, Coated Abrasives, Super Abrasives), By Material (Natural, Synthetic), By End Use Industry (Automotive, Metal Fabrication, Machinery, Electronics, Construction, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. The report highlights that the abrasives market, valued at $42.6 billion in 2022, is projected to reach $67.0 billion by 2032, with a CAGR of 4.7% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: Download Sample

𝐏𝐫𝐢𝐦𝐞 𝐃𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐆𝐫𝐨𝐰𝐭𝐡

The global abrasives market is primarily driven by the growing demand from the building and construction sector, increased infrastructure projects, and renovation activities. However, market growth is hindered by raw material price volatility and intense competition. Despite these challenges, the focus on surface quality and sustainability presents lucrative growth opportunities.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

𝐓𝐲𝐩𝐞 𝐒𝐞𝐠𝐦𝐞𝐧𝐭

Bonded Abrasives: The largest segment in 2022, accounting for nearly two-fifths of the market revenue. Expected to grow at a CAGR of 4.9% from 2023 to 2032.

𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥 𝐒𝐞𝐠𝐦𝐞𝐧𝐭

Synthetic Abrasives: Dominated the market in 2022, contributing to over four-fifths of the revenue. Projected to maintain the fastest CAGR of 4.7% during the forecast period.

𝐄𝐧𝐝 𝐔𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭

Automotive: Held the largest market share in 2022, accounting for nearly half of the global revenue. The metal fabrication segment is expected to register the highest CAGR of 4.9% from 2023 to 2032.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

Asia-Pacific: The largest and fastest-growing region, holding more than two-fifths of the market share in 2022 and expected to register a CAGR of 5.1% during the forecast period. The region's growth is driven by industrialization, urbanization, and manufacturing activities, particularly in China and India.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

- 3M Company
- Bullard Abrasives, Inc.
- Carborundum Universal Limited
- Deerfos
- Hindustan Abrasives
- Osborn Lippert India Private Limited
- Robert Bosch Power Tools GmbH
- Saint-Gobain
- SAK Abrasives Limited
- Sterling Abrasives Limited

These key players have adopted various strategies, including new product launches, collaborations, and expansions, to maintain their market dominance.

𝐅𝐨𝐫 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: Explore Options

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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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