Global Metal Abrasives Market is valued approximately USD 6.0 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2023-2030. Metal Abrasives is a versatile abrasive that may be used on a variety of metals. Metal surfaces are also shaped, polished, and cleaned using hard and sharp materials. They are widely utilized in a variety of industries such as automotive, aerospace, construction, and manufacturing. Metal abrasives can help to improve the quality and durability of metal items. The use of abrasives in gear manufacturing can enhance wear resistance, reduce noise, and extend longevity. It may also be used to produce a wide range of surface qualities, from matte to highly polished. The ultimate surface polish is also affected by the size and form of the abrasive particles. Finishing and polishing are done using fine-grit abrasives, whereas roughing is done with coarse-grit abrasives. Precision manufacturing and high-quality materials are widely used in aerospace to make aircraft components that fulfill stringent safety and performance criteria. Metal abrasives are used to maintain the performance and lifespan of metal surfaces by grinding, polishing, and shaping them. The automotive industry’s moderate to high demand is expected to boost the market. Furthermore, ongoing investments in machinery and equipment production plants are expected to increase demand for metal abrasives during the projection period.
An increase in demand for the aerospace industry drives the growth of the metal abrasives market during the forecast period. According to the AIA, A&D industry exports would increase by 11.2 percent in 2022 to a total value of $100.4 billion in 2021. Furthermore, the A&D business contributed $391 billion in economic value, accounting for 1.7 percent of total nominal GDP in the United States also According to the IBEF in 2020, Domestic air travel demand continued to rise in October 2020, with a 33% increase (over September) to 52 lakh passengers. Soon after domestic flights started on May 25, 2020, the Ministry of Civil Aviation approved an increase in capacity to 45% from one-third in June 2020. It will rise to 60% on September 2, 2020. With the holiday season approaching, the government anticipates capacity increasing to 75%. Additionally, Technological advancements in manufacturing metal abrasives, rapid industrialization, and increasing manufacturing activities are opening up new opportunities. However, the environmental impact of Metal Abrasives stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Metal Abrasives Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to high-volume die-cast component manufacture, aided by car production, is expected to drive demand for metal abrasives in the region in the coming years. For example, in May 2022, Maruti Suzuki India Limited plans to build a production facility in Haryana, India, to produce 250,000 automobiles per year. The investment is approximately USD 1.42 billion, and the business expects to produce its first vehicle by 2025. North America is expected to grow significantly during the forecast period, owing to increasing lack of money for the establishment of machinery and equipment manufacturing centres in the nation. For example, Siemens agreed in June 2022 to invest USD 54.0 million in the production of electrical infrastructure and EV charging devices its numerous production plants across the United States.
Major market player included in this report are:
Camel Grinding Wheels Works Sarid Ltd
Metaltec Steel Abrasive Co.
Air Blast-Abrasives B.V.
Noritake Co., Ltd.
KLINGSPOR Abrasives, Inc.
Finishing Systems, Inc.
Recent Developments in the Market:
Ø In May 2022, Hyundai Motor Group (the Group) announced that it has reached a deal with the State of Georgia to construct its first U.S. facilities specifically for the production of full electric vehicles and batteries. The Group’s decision to invest in the US will help it achieve its objective of dominating the market for electric transportation there. The Group’s dedication to sustainability via electrification and to bolstering the economies of the countries in which it works are also highlighted.
Global Metal Abrasives Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Material type, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material Type:
By End Use:
Building and Construction
Machinery and Equipment
Middle East & Africa
Rest of Middle East & Africa