DUBLIN--(BUSINESS WIRE)--The "Abrasives Market by Material (Natural, Synthetic), Type (Bonded, Coated, Super), Product Type (Disc, Cups, Cylinder), End-use Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electrical & Electronics) & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global abrasives market is estimated at USD 42.34 billion in 2018 and is projected to reach USD 56.59 billion by 2023, at a CAGR of 5.97%.
The growth of the abrasives market is driven by the increased demand for automotive and machinery applications, throughout the world, especially in Asia Pacific due to the rapid urbanization and industrialization. Also, the accurate manufacturing features involving various applications (grinding, cutting, polishing, sanding, and others) of abrasives are majorly attracting end-use industries. With the emergence of new technologies, contractors and consumers are looking for advanced manufacturing, which drives the market for abrasives globally. Factors such as the volatile cost of raw materials coupled with stringent regulations related to the use of abrasives are expected to hinder the growth of the abrasives market in the long term.
The coated segment is projected to be the fastest-growing type in the next five years. Increasing demand from welding, automotive, foundry, and jewelry industries is also expected to propel the coated abrasives market growth in the next five years. Market participants are focusing on novel products such as wide belts, flexible belts, nonwoven fabric abrasives, seeded gel abrasives, and polyester backed abrasives. This factor is also expected to boost the demand during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Abrasives Market, By Material
8 Abrasives Market, By Type
9 Abrasives Market, By Product Type
10 Abrasives Market, By End-Use Industry
11 Abrasives Market, By Region
12 Competitive Landscape
13 Company Profiles
- Robert Bosch GmbH
- 3M Company
- Compagnie De Saint-Gobain S.A.
- Asahi Diamond Industrial
- Fujimi Incorporated
- Carborundum Universal
- Krebs & Riedel Schleifscheibenfabrik
- Tyrolit Group
- Nippon Resibon Corporation
For more information about this report visit https://www.researchandmarkets.com/research/j68pl3/56_59_bn?w=4