Abrasive is any material that is used for precision grinding, rubbing, and shaping, among others. It is also used for polishing the materials. Abrasives are of different hardness. The hardest natural abrasive material available on the earth is diamond, which is also known as the super abrasive material and is used mainly for precision grinding and cutting.
Along with the construction industry, the demand for furniture and interior design increases at a fast pace in hotels, residential buildings, corporate and government offices, comfortability, and aesthetics. Therefore, the increasing demand for furniture and interior designing is anticipated to propel the global abrasives market as abrasives are extensively used in the furniture and interior designing sectors to polish, rub, and cut different materials.
According to Statista, in 2018, furniture and home furnishings stores' sales were around USD 117 billion in the U.S. The increasing furniture and interior designing demand require more abrasives for different operations, including precision, polishing, cutting, shaping, and rubbing.
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Figure 1: Monthly Retail Sales of Furniture and Home Furnishing Stores in the U.S. From 2017 to 2019 (USD Million)
The graph above is showing that the demand for furniture is increasing gradually every year. It can be seen that in January 2017, the sales of furniture and home furnishing stores were around USD 8,255 million in the U.S., and it increased to USD 10,782 million in December 2019. This increment in furniture sales is one of the significant factors for abrasive market growth.
Abrasives Market: Segmentation
By Raw Material
By Product Type
By Bonding Agent
Central and South America and the Caribbean
The Middle East
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