Global Abrasives Market Overview:
The latest report by IMARC Group, titled “Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, offers a comprehensive analysis of the industry, which comprises insights on the global Abrasives Market Size. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global abrasives market reached a value of US$ 48 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 4.5% during 2021-2026. Abrasives refer to materials that are used in a wide range of industrial, domestic, and technological applications to shape, polish, grind, clean, or finish a workpiece. These include natural abrasives, such as corundum, garnet, emery, and pumice, as well as synthetic abrasives, such as silicon carbide, synthetic diamond, and alumina.
|Base Year of the Analysis||2021|
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Abrasives Market Trends:
The global market is primarily driven by significant growth in the automotive industry worldwide. This, in confluence with the increasing demand for commercial as well as passenger vehicles, is significantly contributing to the market growth. Apart from this, growing investments in R&D activities to produce innovative and less hazardous abrasives are creating a positive outlook for the market. Furthermore, the increasing demand for coated abrasives by end-use industries is catalyzing market growth. Additionally, the increasing demand for bonded abrasives, including grinding wheels, snagging wheels, and mounted wheels, due to their high efficiency and enhanced operational capability is also providing an impetus to the market growth.
Global Abrasives Market Market 202-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Robert Bosch GmbH
- Fujimi Incorporated
- Compagnie De Saint-Gobain S.A.
- 3M Company
- Asahi Diamond Industrial
- Carborundum Universal
- Tyrolit Group
- Nippon Resibon Corporation
- Krebs & Riedel
Also Read the Full Blog: Top Abrasives Manufacturers in the world
Market Breakup by Product Type:
- Bonded Abrasives
- Coated Abrasives
Breakup by End-Use:
- Metal Fabrication
By Material Type:
- Natural Abrasives
- Synthetic Abrasives
Market Breakup by Region:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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