Global Abrasive Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, GLOBAL ABRASIVE MARKET, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global ABRASIVE market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Abrasive is defined as having a rough surface that will rub off a thin layer of another surface. Abrasives are used for cleaning and polishing hard surface across various industries, abrasives provides well defined shape to the material and also finished surface. Abrasives are available in various shapes and sizes according to the need. There are two types of abrasive available in the market; they are natural and synthetic abrasive. Most of the synthetic abrasives are replacing natural abrasive, as synthetic abrasives fit the industry requirements. Only diamond as a natural has not been replaced by the any synthetic abrasive as diamond retain its properties.
The global abrasives market has been raising hand-in-hand with the global machinery, automotive, and metal fabrication industry. The revival of economic growth globally posts the economic slowdown is leading to a sizeable demand for machinery for the rising industrialization and urbanization has played an important role in giving the necessary momentum to the global abrasives market. Because of rise in environmental concerns, dominant automobile manufacturers are manufacturing low-weight automobiles, which are economical, emit low carbon dioxide, and yet provide superior performance. Such automobiles require automobile engine components and assemblies to be of high quality. Predominant abrasive manufacturers look to encase benefits on this trend by engaging into long term contracts and by offering products that is of high quality auto components along with polished surface finish.
On the other hand, acting as a barrier to the growth of the global abrasives market are strict regulations in place for the use of silica abrasives and volatile prices of raw materials. Varying raw material prices are anticipated to cripple the coated abrasives market growth over the forecast period. Underdeveloped testing and quality control equipment is expected to hamper product demand. High energy consumption and less efficient firing systems are expected to have a negative impact on coated abrasives market. Availability of manufacturing equipment is also on restraint. Trends are going in the market are blast cleaning and jet water cutting technology which will lead to efficient and effective functioning in the operation.
This market will have a scope of immense growth as there is no as such a big retraining factor which is hampering the market apart from its high price. Opportunities are high because of increasing awareness among the people about the health. Increase in demand of ready to eat food and with all the nutritional value retained is leading the market towards big opportunities.
The global abrasive market can be segmented on the basis of type under which bonded, coated and super abrasive comes. Another way in which the segmentation can be done is material under which natural and synthetic category comes. The last way in which segmentation can be done is end user industry under which automobile, metal fabrication, machinery, electronics, construction and other’s are included.
The global Abrasive market is studied across regions North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). The developing countries in Asia-Pacific are going to register steady growth rate, owing to the rise in the overall economy. Moreover, rise in investments by key manufacturers is another key aspect that fuels the market growth. After that Europe and North America will be holding the strong spot.
Key players: Robert Bosch GmbH, 3M Company, Cosentino S.A., Saint-Gobain Abrasives, Inc., Henkel AG & Co. KGAA, Asahi Diamond Industrial Co., Ltd., Dupont., Fujimi Incorporated, and Carborundum Universal Limited.
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