Global Abrasives Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The global abrasives market valued 43.8 USD billion in 2020 and is expected to reach 73.45 USD billion by 2030, at a CAGR of 5.3% during the forecast period.Abrasives are hard materials, used for cleaning the hard surface, grinding, and polishing across the various industries. It helps to provide shape and surface finish for the material. It acts as a mineral-like material and available in different sizes and shapes depending upon the need. It is used for cleaning, abrading, scouring, grinding and removing solid materials by the action of rubbing. Further, two kinds of abrasives are available in the global abrasives market as synthetic and natural. Natural abrasives include corundum, garnet, emery, and pumice and synthetic abrasives include silicon carbide and alumina. Additionally, the grinding wheel, the most important abrasive product, is involved in the manufacturing of machinery, electronic components, electrical, and automotive components. It is made of abrasive grain and is a self-sharpening cutting tool. The majority of grinding wheels made have a ceramic bond, vitreous, and are made of feldspars and clays.
Download Sample Copy of the Report to understand the structure of the complete report (Including Full TOC, Table & Figures) @ https://www.decisionforesight.com/request-sample/DFS020299
Market Dynamics and Factors:
The growing demand of the automotive industry is the key driving factor for the rising abrasive demand. Abrasives play a vital role in manufacturing automotive components in modifying operating parameters such as reducing the carbon dioxide emissions of high-performance engines, lowering the noise levels and machining of components. The efficient finishing of automobiles requires abrasives for sizing engine parts, cleaning, deburring, repairing and maintaining the body, interiors, and accessories of the automobile. According to the research study, global cars and commercial vehicle production grew by approximately 9.23% in 2018 from 2013. Hence, this augmented demand for automobiles is expected to indirectly influence the abrasive market growth positively. However, stringent regulation for the usage of silica abrasive and limited availability of raw materials is expected to restrain the growth of the market. Investments in R&D activities to produce innovative and less hazardous abrasives are expected to provide ample opportunities for the market to grow in the near future.
Market Segmentation:
Global Abrasives Market – By Type
Bonded
Coated
Super
Global Abrasives Market – By Material
Natural
Synthetic
Global Abrasives Market – By End-User
Automotive
Metal Fabrication
Machinery
Electronics
Construction
Others
Global Abrasives Market – By Application
Grinding
Cutting
Polishing
Drilling
Global Abrasives Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request TOC at @ https://www.decisionforesight.com/toc-request/DFS020299
Geographic Analysis:
Asia-Pacific is dominating the market across the world. In 2016 Asia-Pacific region accounted for an approximate 40% share of the total revenue. The growth in this region attributed to the growing demand for bonded and coated abrasives suitable for precision grinding processes. Followed by Asia-Pacific, Europe is the second-largest contributor across the world. Ongoing construction projects in Russia, Poland, and Western European countries, which is expected to offer growth opportunities to synthetic abrasives segment. Europe accounted for 19.4% share of total revenue in 2018. North-America is anticipated to show significant growth in the near future. Due to the increasing demand for commercial vehicles.
Competitive Scenario:
At a global level, the key players of the abrasives market are Bosch (Germany), DowDuPont (US), Saint-Gobain Abrasives (France), 3M (US), and Fujimi Incorporated (Japan), Henkel (Germany), Tyrolit (Austria), LTD (Japan), Deerfos (Korea), Asahi Diamond Industrial Co., and Carborundum Universal Limited (India). Large construction players such as Balfour Beatty PLC (UK), Lafarge Holcim (France), and Kier Group (UK) have a scope to enter into abrasive services.
Connect to Analyst @ https://www.decisionforesight.com/speak-analyst/DFS020299
How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Abrasives industry, although key threats, opportunities and disruptive technologies that could shape the Global Abrasives Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Abrasives Market most.
The data analysis present in the Global Abrasives Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Abrasives Market business.
The 2021 Annual Global Abrasives Market offers:
100+ charts exploring and analysing the Global Abrasives Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Abrasives Market type
Buy This Premium Research Report@ https://www.decisionforesight.com/checkout/DFS020299
About Us:
Decision Foresight is a market research organization known for its reliable and genuine content, market estimation and the best analysis which is designed to deliver state-of-the-art quality syndicate reports to our customers. Apart from syndicate reports, you will find the best market insights, strategies that will help in taking better business decisions on subjects that may require you to develop and grow your business-like health, science, technology and many more. At Decision Foresight, we truly believe in disseminating the right piece of knowledge to a large section of the audience and cover the in-depth insights of market leaders across various verticals and horizontals.
Contact:
Email: [email protected]
For Latest Update Follow Us:
https://www.facebook.com/Decision-Foresight-110793387201935
https://twitter.com/DecisionFs
https://www.linkedin.com/company/decision-foresight/