Abrasives Market is valued around USD 41.54 Billion in2019 and expected to reach USD 84.84 Billion by 2030 with the CAGR of 6.6% overthe forecast period.
Abrasives are hard materialwhich is widely used for industrial, domestic & commercial purposes toprovide smooth surface especially in construction industry. Abrasives aresynthetic as well as natural made up of single material or combination ofdifferent materials. Abrasives are used for cleaning, polishing, grinding andothers available in different shapes and sizes. The properties vary frommaterial to material, as per basic nature it must be harder than the materialwhich has to be polished.
Global Abrasives Marketreport is segmented on the basis of type, material, product type, end user andby regional. Based upon type, the abrasives market is fragmented into bonded,coated, and super abrasives. On the basis of material, the market iscategorized into natural and synthetic. Based on product type, the market isfragmented into disc, cups, and cylinder. Based on end user, the market iscategorized into automotive, machinery, aerospace, metal fabrication,electronics, construction, and others. The regional bifurcation of countriesincludes North America, Europe, Asia-Pacific, and RoW which are furthersegmented into major countries such as U.S., UK, France, and others.
The abrasives market ismainly driven by the constant rising demand from different industries such asfabrication, automotive, electronic components along with the reducing cost ofsynthetic diamonds. Rapid growth inconstruction industry in the developing economies supported by burgeoningmanufacturing sector owing to growing population anticipated the market growth.In addition, rapid growth of healthcare industry supported by technologicaladvancements has fueled the growth of abrasives market in the near future. Onthe other hand, rising disposable income accompanied by rising investment inthe market are also likely to enhance the market growth. However, stringentregulatory policy with regards to the use of silica together with fluctuatingprices of raw materials may restrain the market growth in near future.
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The developing region suchas Asia Pacific is likely to hold the major market size owing to the rapidgrowth in construction industry accompanied by rapid urbanization. In addition,surge in industrialization along with growing disposable income as well asrising investments in the market are also expected to contribute the marketgrowth. The developed regions such as North America holds the second leadingmarket size followed by Europe owing to the surge in fabrication industry alongwith the development of interior industry as well as wide applications.
The major market playersprofiled in the abrasives market includes Robert Bosch GmbH, 3M Company,Sankyo-Rikagaku, Abrasiflex, Noritake, Asahi Diamond Industrial, Dowdupont,Deerfos, Tyrolit Group, Nippon Resibon Corporation,Fujimi Incorporated,Carborundum Universal, Compagnie De Saint-Gobain S.A., Henkel, Krebs &Riedel Schleifscheibenfabrik among others.
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