The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The Rising Tide of Abrasives: A Market Overview

• The abrasives market has experienced robust growth in recent years.
• Market size surged from $43.12 billion in 2023 to $47.19 billion in 2024, boasting a compound annual growth rate (CAGR) of 9.5%.
• Growth in the historic period attributed to construction, infrastructure development, urbanization, industrialization, rising disposable income, and demand for sustainable materials.
• Forecasted growth anticipates market expansion to $64.9 billion in 2028, with a CAGR of 8.3%, driven by heavy-duty applications, aerospace and electronic industry demands, safety and ergonomics focus, and green building standards.

Growing Electrical Vehicle (EV) Industry Propels Abrasives Market

• The soaring electric vehicle (EV) industry is a significant driver for the abrasives market.
• EVs utilize electric motors and charging stations, necessitating stainless steel finishing, thereby boosting abrasives demand.
• Surge in EV sales globally, with China, the US, and Europe witnessing significant growth.
• Major companies like Robert Bosch GmbH, 3M Deutschland GmbH, and Saint-Gobain Abrasives Inc. play pivotal roles in the market’s trajectory.

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https://www.thebusinessresearchcompany.com/report/abrasives-global-market-report

Innovative Product Offerings Define Market Landscape

• Key players in the abrasives market are focusing on product innovation to cater to customer demands effectively.
• Innovation includes the development of new abrasive materials, shapes, and technologies to enhance cutting, grinding, and polishing processes.
• Recent innovations like Harsco Corporation’s sure/cut edge and sure/cut velocity showcase advancements in abrasive materials.
• These innovations offer improved efficiency, reduced consumption rates, and enhanced final product quality.

Summit Brands Broadens Portfolio with US Pumice Company Acquisition

• Summit Brands, a US-based consumer goods company, acquired US Pumice Company in September 2023.
• The acquisition aligns with Summit Brands’ commitment to providing environmentally friendly cleaning solutions.
• With this acquisition, Summit Brands expands its product offerings, providing consumers with more cleaning options.
• US Pumice Company’s expertise in abrasives enhances Summit Brands’ cleaning product portfolio.

Segmentation and Regional Insights

• The abrasives market is segmented by raw material, type, form, application, and end-user.
• Segments include natural and synthetic raw materials, bonded, coated, and super precision abrasives, among others.
• Applications range from grinding and cutting to polishing and finishing, catering to industries like automotive, aerospace, and construction.
• Asia-Pacific emerged as the largest region in 2023 and is poised to be the fastest-growing region, indicating significant opportunities for market players.

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The Abrasives Global Market Report 2024  provides an overview of the abrasives market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The abrasives market forecast analyzes abrasives market size, abrasives market share, leading competitor and their market positions.

The Table Of Content For The Abrasives Market Include:
1. Abrasives Market Executive Summary
2. Abrasives Market Segments
3. Abrasives Market Size And Abrasives Market Growth Rate
4. Key Abrasives Market Trends
5. Major Abrasives Market Drivers
……
25. Key Mergers And Acquisitions In The Abrasives Market
26. Top Abrasives Companies
27. Abrasives Market Opportunities And Strategies
28. Abrasives Market, Conclusions And Recommendations
29. Appendix

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