Abrasive Market expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028
Abrasive Industry Overview The global abrasive market size is expected to reach USD 47.82 billion by 2028, expanding at a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to be driven by the rising growth in the metal fabrication industry on account of demand from the end-use sectors, such as automotive, aerospace, agriculture, and medical. Abrasives are tools used for shaping and providing a smooth finish to the surface of the product. Abrasive Market Segmentation Grand View Research has segmented the global abrasive market on the basis of product, application, and region: Based on the Product Insights, the market is segmented into Bonded, Coated and Others. The bonded segment dominated the global market in 2020 accounting for the largest revenue share of over 43%. Bonded abrasives include grinding wheels, snagging wheels, mounted wheels, and others, which are used for precision and rough grin...