According to a market report by Lucintel, the future of the abrasive market looks promising with opportunities in the aerospace, automotive, machinery, metal fabrication, and electrical & electronics equipment market. The global abrasive market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028. The major drivers for this market are growth in the manufacturing sector and growing adoption of pre-engineered building & components.
In this market, coated abrasives, bonded abrasives, and super abrasive are the major segemnts of abrasive market by product type. Lucintel forecasts that coated abrasive will remain the largest segment over the forecast period due to growing usage of coated abrasive in consumer goods, fabrication, hand & power tools, furniture, and surgical products.
Within this market, automotive will remain the largest end use industry segment over the forecast period due to rise in per capita disposable incomes and increase in demand for passenger & commercial vehicles.
Asia Pacific is expected to remain the largest region over the forecast period due to rise in the manufacturing and consumption of industrial products in developing countries such as India and China.
Robert-Bosch, 3M, Saint-Gobain, Fujimi, Henkel, and Asahi Diamond Industrial companies are among the major suppliers of abrasives.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global abrasive market by raw material, product type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Abrasive Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global abrasive market by raw material, product type, end use industry, and region as follows:
Abrasive Market by Raw Material [Value ($B) Shipment Analysis from 2017 to 2028]:
· Natural
· Synthetic
Abrasive Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Coated Abrasives
· Bonded Abrasives
· Super Abrasives
Abrasive Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
· Aerospace
· Automotive
· Machinery
· Metal Fabrication
· Electrical and Electronics Equipment
· Others
Abrasive Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Abrasive Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global abrasive market by raw material (natural and synthetic), product type (coated abrasives, bonded abrasives, and super abrasives), end use industry (aerospace, automotive, machinery, metal fabrication, electrical & electronics equipment, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?