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Apr 09, 2023

Metal Abrasives Market to Garner $9.6 Billion, Globally, By 2032 at 4.6% CAGR, Says Allied Market Research

The global metal abrasives market is experiencing growth due to several factors

The global metal abrasives market is experiencing growth due to several factors such as rise in demand for metal abrasives in the construction industry and applications such as surface preparation, cleaning, deburring, and finishing of metal surfaces.

PORTLAND, Ore., June 1, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Metal Abrasives Market By Material, Type (Steel and Others) By Type (Coated Abrasives, Bonded Abrasives, and Super Abrasives) By End-Use Industry (Automotive, Metalworking, Building and Constructions, Machinery and Equipment, And Others): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global metal abrasives market was valued at $6.2 billion in 2022, and is projected to reach $9.6 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

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Prime determinants of growthThe global metal abrasives market is experiencing growth due to several factors such as the growing demand for metal abrasives for energy-efficient and lightweight materials and used in the form of grits or particles and are used in abrasive blasting, grinding, polishing, and other abrasive processes. However, health hazards with respect to metal abrasives hinders the market growth to some extent. Moreover, increase in usage of metal abrasives in 3D printing and other advanced manufacturing technologies offers remunerative opportunities for the expansion of the metal abrasives market.

Report Coverage & Details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$6.2 billion

Market Size in 2032

$9.6 billion

CAGR

4.6 %

No. of Pages in Report

350

Segments Covered

Material Type, Type, End-Use Industry, and Region.

Drivers

Increase in demand for aerospace industry.

The growing demand of metal abrasives for energy-efficient and lightweight materials.

Rise in demand for metal abrasives in the construction industry.

Opportunity

Increase in usage of metal abrasives in 3D printing and other advanced manufacturing technologies.

Restraint

Health hazards with respect to metal abrasives.

Environmental impact of metal abrasives.

Challenge

Volatility in raw material prices

The others segment is expected to grow faster throughout the forecast periodBased on material type, the steel segment held the highest market share in 2022, accounting for more than four-fifths of the global metal abrasives market revenue and is estimated to maintain its leadership status throughout the forecast period. This is because metal abrasives is mainly used in surface preparation, cleaning, deburring, polishing, and finishing. However, others segment is projected to manifest the highest CAGR of 5.1% from 2023 to 2032, as glass bead blasting is often used to remove surface contaminants from a variety of materials, including metals, plastics, and composites. Garnet abrasives are also commonly used as a cutting media in waterjet cutting machines.

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The bonded abrasives segment is expected to lead the trail by 2032Based on the type, the bonded abrasives segment held the highest market share in 2022, accounting for more than two-fifths of the global metal abrasives market revenue and is estimated to dominate during the forecast period. This can be attributed to the fact that metal abrasives are used in grinding, cutting, and finishing applications in metalworking, automotive, aerospace, and construction industries. However, the super abrasives segment is projected to manifest the highest CAGR of 5.2% from 2023 to 2032, as super abrasives are used to drill and shape hard rock formations, as well as to cut and shape pipes and other components used in oil and gas exploration and production

The others segment is expected to grow faster throughout the forecast periodBased on the end-use industry, the metalworking segment held the highest market share in 2022, accounting for more than two-fifths of the global metal abrasives market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that metal abrasives is used to create a compressive stress layer on the surface of a metal part in metalworking. However, the others segment is projected to manifest the highest CAGR of 5.6% from 2023 to 2032. The growth is attributed to their unique properties such as rough texture of metal abrasives that promotes good adhesion of new coatings

Asia Pacific to maintain its dominance by 2032Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global metal abrasives market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The segment is driven by factors such as utilization of metal abrasives in in industries such as construction, automotive, marine, and manufacturing by regulatory authorities in the Asia-Pacific region. However, the same region is expected to witness the fastest CAGR of 5.1% from 2023 to 2032. The growth is attributed to the use of metal abrasives used in surface preparation, cleaning, and finishing for various building and infrastructure projects.

Leading Market Players: -

SAINT GOBAIN

3M COMPANY

FINISHING SYSTEMS, INC.

METALTEC STEEL ABRASIVE CO.

W ABRASIVES

NORITAKE CO., LTD.

KLINGSPOR ABRASIVES, INC.

CAMEL GRINDING WHEELS WORKS SARID LTD

AIR BLAST-ABRASIVES B.V.

ERVIN INDUSTRIES

The report provides a detailed analysis of these key players in the global metal abrasives market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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