Asia Pacific Abrasives Market Size, Share & Trends Analysis Report By Product (Coated, Bonded), By Application (Automotive & Transportation, Heavy Machinery, Metal Fabrication), By Country, And Segment Forecasts, 2024 - 2030

Asia Pacific Abrasives Market Size & Trends

The Asia Pacific abrasives market size was valued at USD 20.92 billion in 2023 and is expected to grow at a CAGR of 6% from 2024 to 2030. This growth is propelled by the region's rapid industrialization, and an escalating demand for precision tooling in sectors such as automotive, metal fabrication, and machinery. Additionally, the rise in infrastructure development projects across the region is contributing to the increased product demand. Furthermore, technological advancements in abrasive materials and the advent of super abrasives are expected to provide impetus to market growth.

Governments across the region are implementing rigorous environmental regulations related to the use and disposal of abrasive materials. These regulations have a dual purpose of reducing the environmental impact caused by abrasives and preventing pollution.

For example, in China, the production and utilization of chemicals, including those employed in abrasives, fall under the purview of the “Measures on the Environmental Administration of New Chemical Substance”. This regulation, currently undergoing revision, closely monitors the use of hazardous chemicals and the manufacturing processes associated with abrasives.

Market Concentration & Characteristics

The industry is in a constant state of evolution due to technological advancements. In order to introduce abrasives with high performance, longevity and sustainability, companies invest in research and development and innovation. For instance, there is a focus on the development of polyester- and fabric-based abrasives and improved coated abrasives for metal fabrication.

Waterjet cutting, laser cutting, and other non-abrasive processes are among the alternative technologies and services that compete with the sector. However, abrasives' unique characteristics and applications make them vital in many industries, reducing the threat of alternatives to some extent.

The end-user industries for the market are diverse, including automotive, machinery, aerospace, metal fabrication, building and construction, medical devices, oil & gas, electrical & electronics, and others. The automotive and machinery sectors are among the major consumers of abrasives. The market’s growth is driven by the increasing demand in these sectors, along with the rising industrialization in the region.

Product Insights

The bonded abrasives dominated the market in 2023 with around 43% revenue share. This dominance can be attributed to the extensive use of bonded abrasives in various industries including automotive, metal fabrication, and machinery, due to their durability and versatility.

The coated abrasives segment is anticipated to register fastest growth in the Asia Pacific abrasives market, with a CAGR of 6.3% from 2024 to 2030. These abrasives are used for finishing and polishing applications in various industries, including woodworking, automotive, and electronics. The growth of this segment can be attributed to the increasing demand for high-quality finishes in the manufacturing sector, along with the development of advanced coated abrasives offering improved performance and longevity.

Application Insights

Automotive & transportation segment dominated the market in 2023 with more than 35% revenue share. This sector relies extensively on abrasives for a variety of purposes, including surface preparation, cutting and grinding, and vehicle polishing and finishing. The automotive industry's demand for abrasives is being driven by increased vehicle production, particularly in rising markets such as China and India. Furthermore, the shift toward lightweight automobiles to improve fuel efficiency is likely to increase demand for high-performance abrasives.

The metal fabrication segment is expected to register fastest growth of 6.6% across the forecast period. The increasing demand for precision tooling and high-quality finishes in the manufacturing industry is driving this segment's growth. Furthermore, the increase in infrastructure development projects in the Asia Pacific region is likely to fuel demand for metal fabrication, boosting the abrasives market.

Country Insights

China Abrasives Market Trends

China holds the largest market share in the Asia Pacific abrasives market, accounting for 56% of the total revenue. This dominance can be attributed to the country’s vast manufacturing sector, which heavily relies on abrasives for various applications, including grinding, cutting, and polishing. The rapid industrialization, coupled with the government’s focus on manufacturing sector growth, has led to an increased demand for abrasives. Furthermore, China is home to several key players in the abrasives market, contributing to its significant market share.

India Abrasives Market Trends

The abrasives market in India is projected to witness the fastest growth in revenue terms, with a CAGR of 6.9% from 2024 to 2030. The growth can be attributed to the country’s burgeoning manufacturing sector, driven by government initiatives such as “Make in India.” Additionally, the rise in infrastructure development projects across India is expected to drive the demand for abrasives.

Key Asia Pacific Abrasives Company Insights

Asia Pacific abrasives market is moderately concentrated, with numerous companies operating in this space, contributing to a competitive market environment.

• Saint-Gobain has a significant presence in the region, with offices, agencies, and manufacturing facilities spanning several countries. Saint-Gobain offers a wide range of abrasive products, including bonded, coated, and super abrasives, catering to various industries such as automotive, metal fabrication, and machinery.

• 3M is another key player in the Asia Pacific abrasives market. The company offers a diverse range of abrasive products, including grinding and cutting discs, sandpaper, and abrasive sponges, among others. 3M’s abrasives are used in a variety of industries, including automotive, electronics, and construction.

Recent Developments

• In February 2024, Saint-Gobain agreed to purchase CSR Limited. This acquisition will enable Saint-Gobain to lead in light and sustainable construction and to reinforce its presence in the Asia-Pacific region.

• In February 2022, DuPont opened its new adhesives production facility in China. This strategic development is set to enhance DuPont’s influence in the automotive electrification solutions sector across China and other Asian economies.

• In August 2023, 3M unveiled its latest abrasive robotics laboratory in Bengaluru, India. This facility represents the company’s 17th installation worldwide and is a strategic response to the burgeoning demand within the Indian market. The lab is expected to play a pivotal role in advancing 3M’s research and development capabilities in abrasive technologies, catering to the specialized needs of the industry.

Asia Pacific Abrasives Market Report Scope

Asia Pacific Abrasives Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the Asia Pacific abrasives market report based on product, application and region:

• Abrasives Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Coated

  • Bonded

  • Others

• Abrasives Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Automotive & Transportation

  • Heavy Machinery

  • Metal Fabrication

  • Electrical & Electronics Equipment

  • Other Applications

• Abrasives Country Outlook (Revenue, USD Million, 2018 - 2030)

  • China

  • India

  • Japan

  • Australia

  • South Korea