Abrasive Tools Market Research Report - Global Forecast till 2032

Abrasive Tools Market Research Report Information By Type (Coated, Bonded and Super), Raw Material (Natural and Synthetic), End-Use (Automotive, Heavy Machinery, Aerospace, Metal Fabrication, Electronics and Electrical and Others) and Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2032

ID: MRFR/AM/8919-HCR | 90 Pages | Author: Swapnil Palwe | February 2024         

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Abrasive Tools Market

Abrasive Tools Market Size is expected to cross USD 20245.23 Million by 2032 at a CAGR of 8.9% during the forecast period 2023 to 2032

Segmentation
By Type Coated Bonded Super
By Raw Material Natural Synthetic
By End-Use Automotive Heavy Machinery Aerospace Metal Fabrication Electronics and Electrical Others
Key Players
Companies Profiled   Asahi Diamond Industrial Co. Ltd (Japan)    Robert Bosch (Germany)    Jason Incorporated (US)    Fujimi Incorporated (Japan)    DuPont (US)    Tyrolit (Austria)    Saint Gobain Abrasives Inc (US)    CMC Materials Toyoda (US)    Henkel AG & Co. KGaA (Germany)    Almatis (Germany)
Drivers
Market Driving Forces   Growing demand for abrasive tools in metalworking applications    The growing use of abrasives for the cleaning and finishing medical devices such as osseointegrated implants in the medical industry    Rapid economic growth in Automobiles machinery and metal processing
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Abrasive Tools Market Scenario:


The Abrasive Tools Market is projected to grow from USD 10823.4 Mn in 2021 to USD 20245.23 Mn by 2032, exhibiting a compound annual growth rate (CAGR) 8.9% during the forecast period (2023 - 2032)


Abrasive Tools are products or materials, such as sandpaper, pumice, or emery, used for scraping, grinding, smoothing, or polishing. Although finishing a material also involves polishing it to achieve a smooth, reflective surface, as in satin or beaded finish, the process can often require roughening. In short, the ceramics used for cutting, scraping, and polishing other softer materials are considered abrasives. Abrasives have a wide range of commercial, residential, and technical applications. Grinding, polishing, buffing, honing, digging, sharpening, lapping, and sanding are common applications for abrasives tools. Materials used as abrasives are typically either hard minerals (rated at seven or higher on the Mohs mineral hardness scale) or synthetic stones, some of which can be chemically and mechanically similar to minerals that occur naturally but may not be considered minerals because they do not occur naturally. It is expected that growing demand for abrasive tools in metalworking applications is likely to boost the market growth. Coated abrasives such as sandpaper and stones are used in metalworking for deburring, where the grinding of metal items is performed. Abrasive tools are also used in polishing different finished goods in the automobile and electronics industries.


Global Abrasive Tools Market has been segmented By Type, Raw Material, End-Use, and Region.


Based on type, the global abrasive tools market is segmented into coated, bonded, and super. The super segment is anticipated to grow at a significant CAGR in the coming years.


By raw material, the global abrasive tools market has been split into natural and synthetic. The natural segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years.


By end-use, the abrasive tools market is divided into automotive, heavy machinery, aerospace, metal fabrication, electronics and electrical, and others. The automotive segment is projected to grow at a CAGR in the coming years.


Key Players


Key Players operating in the Global Abrasive Tools Market are Asahi Diamond Industrial Co., Ltd (Japan), Robert Bosch (Germany), Jason Incorporated (US), Fujimi Incorporated (Japan), DuPont (US), Tyrolit (Austria), Saint Gobain Abrasives, Inc (US), CMC Materials Toyoda (US), Henkel AG & Co. KGaA (Germany), and Almatis (Germany).


Market SegmentationAbrasive Tools Market


The automotive industry is expected to boost the growth of the market for abrasive tools as they are used for engine components, deburring, and cleaning. They are also used for the repair and maintenance of vehicles, interiors, and accessories. The growing use of abrasives for the cleaning and finishing medical devices such as Osseointegrated implants in the medical industry would also drive the market for adhesive tools.


Based on region, the abrasive tools market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific, due to its rapid economic growth, is the fastest growing market for abrasive tools. Apart from that, the fast growth of industries, such as automobiles, machinery, and metal processing, is also boosting the market growth.


In North America, the rapidly expanding electronics industry is expected to drive the market for abrasive tools. Furthermore, Europe is expected to register a notable growth for the abrasive tools market as there is a rising demand for abrasive auto components.


Intended Audience



  • Government and Research Organizations

  • Consulting Companies in the Abrasive Tools Market

  • Raw Material Suppliers

  • Abrasive Tools Manufacturers

  • Independent and Authorized Dealers of Abrasive Tools Manufacturers

  • Research Consultants

  • Investors and Shareholder

Report Scope:

Report Attribute/Metric Details
Market Size 2021:   USD 10823.4 Million
Market Size 2032:   USD 20245.23 Million
 CAGR  8.9% (2023-2032)
 Base Year   2021
 Forecast Period   2023-2032
 Historical Data   2018- 2022
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Raw Material, End-Use, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Asahi Diamond Industrial Co., Ltd (Japan), Robert Bosch (Germany), Jason Incorporated (US), Fujimi Incorporated (Japan), DuPont (US), Tyrolit (Austria), Saint Gobain Abrasives, Inc (US), CMC Materials Toyoda (US), Henkel AG & Co. KGaA (Germany), and Almatis (Germany)
  Key Market Opportunities  Rising demand for abrasive auto components
  Key Market Drivers Growing demand for abrasive tools in metalworking applications The growing use of abrasives for the cleaning and finishing medical devices such as Osseointegrated implants in the medical industry Rapid economic growth Automobiles, machinery, and metal processing




Frequently Asked Questions (FAQ) :

Growing demand for abrasive tools in metalwork and construction industry and the spurring rise in the automotive industry are major tailwinds pushing the growth of the global abrasive tools market.

The Natural segment accounts for the leading raw material segment in the global abrasive tools market

The automotive segment accounts for the leading end-use segment in the global abrasive tools market

Robert Bosch (Germany), Asahi Diamond Industrial Co., Ltd (Japan), Jason Incorporated (US), DuPont (US), Fujimi Incorporated (Japan), Tyrolit (Austria), CMC Materials Toyoda (US), Saint Gobain Abrasives, Inc (US), Almatis (Germany), and Henkel AG & Co. KGaA (Germany), are some of the top players operating in the global abrasive tools market.

Asia Pacific is expected to hold the highest market share in the global abrasive tools market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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