Global Industrial Abrasives Demand to Reach $67 billion - Industry Experts, Inc.
Industry Experts, Inc., released the latest version of its report on Industrial Abrasives Market . The study reveals that the demand for Industrial Abrasives is estimated at US$49.2 billion in 2024 and projected to reach US$67 billion by 2030 at a 2024-2030 CAGR of 5.3%. Some of the factors instrumental in driving demand for Industrial Abrasives include rising demand from end-use industries, technological advancements, automation and robotics integration, focus on sustainability and customization & specialization. Among the various applications where Industrial Abrasives are used, Grinding is the largest, with an estimated 2024 share of 38.9%, the major reasons for which are its versatility and high demand for precision in industrial production. Grinding finds extensive use in metalworking, automotive (engine components & gears), aerospace (turbine blades) and machinery manufacturing and involves material removal with abrasive wheels, belts or discs for achieving...