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Projecting a rapid expansion in the automotive industry is believed to be one of the major trends stoking market growth. The abrasives market holds a bunch of prominent players who are keenly strategizing, and focusing on a development and acquisition. The industrial abrasives market is efficiently playing a supportive role in the industry which is however resulted to the market growth and development. Moreover, demand for manufactured industrial products with high precision finish in the end use industries is the likely to trigger the sales of abrasives.
The construction sector is expected to drive the market in the region named U.S., China, and India which will importantly be the front regions in the market to account over xx.x% of the global construction volume by 2030.
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According to the global construction visionary, the market output has increased by 85% from 2015, reaching $15 trillion, by 2030. Synthetic products barring garnets and synthetic diamonds primarily drive the demand for abrasives, as synthetic types have more uniformity in quality and properties such as high cutting speeds that are desirable in the end-use industries.
The abrasives market is segmented to dominate the market until 2025. Based on the products the market is segmented to rubber, oxychloride, ceramic, shellac, resinoid, silicate of soda which are mainly used for bonding of various grains to produce bonded abrasive products.
Leading players of the abrasives market include Henkel AG & Co. KGAA, Carborundum Universal Limited, Cosentino S.A., Saint-Gobain Abrasives, Asahi Diamond Industrial Co, Fujimi Incorporated, 3M Company, and Robert Bosch GmbH.
Geographically, Asia Pacific region is anticipated to maintain dominance in the market throughout the forecast period in terms of revenue and volume followed by abrasive market Europe, and abrasive market in US. Electronic & electrical components are poised to augment the regional market due to the growth in urban population and expansion in end-use segments.
Key Segments of the global abrasive market 2018-2025
• Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018-2025)
• Bonded
• Coated
• Superabrasives
• Material Outlook (Volume, Kilotons; Revenue, USD Million, 2018-2025)
• Natural
• Synthetic
• End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018-2025)
• Automotive
• Machinery
• Metal Fabrication
• Electronic & Electrical Equipment
• Others
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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