Metal Abrasives Market Size, Share & Trends Analysis Report By Material (Steel, Others) By Application (Automotive, Metalworking), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global metal abrasives market size was valued at USD 5.74 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030. The market is anticipated to get driven by moderate to high demand from the automotive industry. Metal abrasives are used in the applications such as cleaning, descaling, shot peening, and desanding of different parts produced in various production industries such as casting, forging, aluminum die casting, auto component, and investment casting, among others. Increasing investments in the automotive sector are projected to augment demand for metal abrasives throughout the forecast period. For instance, in July 2022, Ford Motor Company announced its decision to invest USD 160 million in its Rawsonville Plant based in Ypsilanti Township, Michigan, U.S.

Metal abrasives are widely used in the construction industry for cleaning metal surfaces that are covered with dirt, mill scale, paint coatings, and rust. The increasing construction activities in the country are expected to augment demand for the metal abrasives within the nation. For example, the aggregate construction expenditure has soared to USD 1,779.80 billion in May 2022, up by 9.7% compared to the same period last year as per the U.S. Census Bureau.

The U.S. is one of the major consumers of metal abrasives, considering the rising spending in the automotive sector. For instance, in July 2022, HYUNDAI MOTOR GROUP decided to invest USD 5.5 billion in setting up an EV production plant in Georgia, U.S. The new facility is expected to begin manufacturing in 2023 and the company is aiming to produce 3 lakh units per annum by 2025.

In addition, continuing investments in machinery & equipment manufacturing plants are likely to boost demand for metal abrasives during the forecast period. For instance, in June 2022, KUBOTA Corporation, an equipment manufacturer based in Japan, decided to invest USD 140 million in setting up a new facility to produce front-end loaders in Northeast Georgia, U.S.

Furthermore, new petrochemical facilities in the country are anticipated to fuel demand for the commodity throughout the forecast period. For instance, Shell Chemicals anticipates finishing the construction of its petrochemical complex by the end of 2022. The new facility is in Southwest Pennsylvania, U.S. and it consists of three polyethylene plants with a capacity of 1.6 million MT/year each.

Material Insights

Based on material, steel dominated the market in 2021 with a revenue share of more than 90%, and this trend is expected to continue during the forecast period. Steel abrasives are preferred for their hardness, cleanliness, grain size, and toughness. Due to its properties, it is widely used in various industries including automotive, construction, and petrochemical industries.

Steel abrasives mainly include steel shots and grits which are used in metalworking industries such as forging, casting, die casting, investment casting, fabrication, and others. Investments in these industries are expected to benefit the steel shots and grits demand in air-blasting applications. For instance, in March 2021, Tesla Inc. announced an investment in 8,000 tons of Giga die casting machine, which is likely to be supplied by IDRA Group. Other types of materials for abrasives include iron, zinc, copper, and aluminum, among others.

In addition, iron abrasives are also extensively used by several end-use industries. The wide demand for abrasives is making its manufacturers engage in acquisitions to further facilitate their business. For instance, in December 2021, Virginia Abrasives, a manufacturer of high-quality abrasives, acquired Johnson Abrasives for an undisclosed amount.

Application Insights

Based on application, metalworking held the largest revenue share of 46.0% in 2021 and the trend is expected to continue during the forecast period. Investment in fabrication plants is likely to fuel the market growth throughout the forecast period. For instance, in October 2021, Ramakrishna Forgings, a supplier of forged, rolled, and machined products; begin the production of fabrications in its facility in Jamshedpur, India. , Plant mainly manufacturers fabrications for the excavator parts.

Rising EVs production by automotive manufacturers is projected to boost the demand for metal abrasives such as steel shots & grits for the different types of components produced from casting, forging, and fabrication, etc. For instance, in June 2022, Mercedes-Benz AG announced its decision to manufacture luxury EVs in its plants in Bremen, Sindelfingen, and Rastatt, Germany. The company is anticipating switching to EVs by the end of this decade.

In addition, the construction sector is one of the main end-users of metal abrasives, and various investments in construction activities are likely to positively influence demand for the commodity during the forecast period. For instance, the Mexican government, along with the private players, decided to allocate funds for the third time and focused on revamping the country’s infrastructure including ports, roads, airports, and railways.

Region Insights

Based on region, Asia Pacific held the largest revenue share of over 55% in 2021 of the overall market. High volume production of die-cast components supported by vehicle production is likely to boost demand for metal abrasives within the region during the coming years. For instance, in May 2022, Maruti Suzuki India Limited decided to construct a production facility, to manufacture 250,000 cars per year in its plant in Haryana, India. The investment is worth USD 1.42 billion, and the company is expected to manufacture its first car by the year 2025.

North America is projected to register a growth rate of 4.7%, in terms of revenue, from 2022 to 2030. The growth rate is expected to be driven by the rising shortage of funds for the setting up of machinery & equipment manufacturing hubs in the country. For instance, in June 2022, Siemens decided to invest USD 54.0 million for the manufacturing of EV charging equipment and electrical infrastructures in its various production facilities, across the U.S.

In addition, in July 2022, Asil Celik, a manufacturer of steel in Turkey, commissioned a production facility for producing stainless steel, steel, and tool steel in its machining and forging facility in Bursa, Turkey. The plant is expected to have a capacity of 60,000 MT and the investment is worth USD 150 million. The new production plant is anticipated to replace USD 100.0 million worth of steel imports in the country.

Key Companies & Market Share Insights

The metal abrasives market is competitive in nature with established as well as small players, globally. The players engage in various strategies including mergers & acquisitions and capacity expansion to stay ahead of their competitors. There are multiple small-scale companies, with the benefits of low-cost production and long-term contracts with local buyers. For instance, in December 2021, Carborundum Universal acquired Awuko, a leader in abrasives for USD 6.15 million. The deal lets the former acquire plant & machinery, land, brands, building, and fixed assets for the latter. The acquisition aligns with the acquirer’s plan to expand its presence in Europe.

Some of the prominent players in the global metal abrasives market include:

• Abrasives Inc.

• Vulkan INOX GmbH

• Abrasive Shot

• 3M India Ltd.

• Macro Group International

• Metaltec Steel Abrasive

• W Abrasives

• Grind well Norton Ltd

• Silcal Metallurgic Ltd.

• Ervin Industries

• Siambrator Co., Ltd.

• Air blast-Abrasives B.V.

Metal Abrasives Market Report Scope

Global Metal Abrasives Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global Metal Abrasives Market report based on the material, application, and region:

• Metal Abrasives Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Steel

  • Others

• Metal Abrasives Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Automotive

  • Metalworking

  • Machinery & Equipment

  • Construction

  • Others

• Metal Abrasives Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • Russia

    • France

    • Italy

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa