Abrasives Market Overview:
Abrasives are used in various operations such as grinding, polishing, lapping, honing, pressure blasting, and others. They come in different particle or grit sizes depending on the amount of material needed to be removed. Abrasives are widely used in various end-use industries such as automotive, metal fabrication, electrical, electronics, and healthcare. They are used in the form of grinding wheels, sandpapers, honing stones, polishes, cutoff wheels, tumbling, vibratory mass-finishing media, sandblasting, pulps tones, ball mills, and other products.
The global abrasives market was valued at USD xx million in 2017 and is projected to reach USD xx million by 2025 growing at a CAGR of xx% during the forecast period 2017 to 2025.
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Abrasives Market Drivers and Restraints:
The abrasives market has been growing in accordance with the global automotive, metal fabrication, and machinery industries. With rapid urbanization and industrialization, the need for new machinery has increased significantly throughout the world, which has played a huge part in providing the necessary momentum to the global abrasives market. The recovery of the global economy would also boost the demand in this market. The automotive industry depends on coated abrasives such as belts, brushes, discs, and other accessories for applications such as grinding and finishing in the industry. Abrasives find their wide application in automobiles, boats, aircraft, and even in heavy-duty construction equipment. Automotive refinishing is the key applications that will increase the demand for abrasives market during the forecast period. On the other hand, the use of robotics, better equipment, and software to automate the welding process propel the growth of metal fabrication industry, in turn translate the demand for abrasives. The electronics and semiconductors sector in the abrasives market is expected to grow steadily during the forecast period. This is due to the increased demand for consumer electronics, including mobile phones, computers, and related electronic equipment from emerging economies.
Abrasives Market Geographical Segmentation:
The Abrasives Market is geographically segmented into North America, Asia-Pacific, Europe, South America, Middle East and Africa. APAC will lead the global abrasives market in automotive industry during the forecast period because of the growing economy. China, Japan, and India are the leading revenue contributors to the market in APAC.
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Abrasives Market Key Players:
The top players of Abrasives Market are Henkel, Tyrolit, Asahi Diamond Industrial Co., LTD, Deerfos, and Carborundum Universal Limited, KREBS & RIEDEL, Nippon Resibon Corporation, Sankyo-Raikagaku Co., Ltd., Abrasiflex, and Noritake Co., Limited.
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