The global market for abrasives was valued at $55.0 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% to reach $74.0 billion by 2028.

The abrasive industry consists of two segments (Table 1): companies and industries that manufacture or refine abrasive grains, and companies and industries that use these grains to manufacture products for grinding, cutting, or polishing. The users of abrasive grains far outnumber those that manufacture the grains.