LONDON--(BUSINESS WIRE)--The abrasives market is expected to grow by USD 9.15 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the abrasives market in optimistic, probable, and pessimistic forecast scenarios.
The abrasives market will witness Negative and Inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
Enterprises will go through Respond, Recover and Renew phases. Download free report sample
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through respond, recover and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Abrasives Market Participants:
3M Co.
3M Co. operates its business under various segments such as safety and industrial, transportation and electronics, health care, consumer, and corporate and unallocated. The company manufactures industrial abrasives, including sandpaper solutions and surface modifying systems. It also manufactures abrasive discs, belts, wheels, brushes, sheets, and accessories for use in industrial, automotive, electronics, and other end-user applications.
Asahi Diamond Industrial Co. Ltd.
Asahi Diamond Industrial Co. Ltd. operates its business under a unified segment. The company offers abrasives for precision cutting of diamonds under four categories: precision grinding wheels, superfinishing grinding stones, superabrasives shaft-mounted grinding wheels, and superabrasives superfinishing grinding stones.
Carborundum Universal Ltd.
Carborundum Universal Ltd. has business operations under various segments, namely abrasives, ceramics, and electrominerals. The company offers bonded abrasives, coated abrasives, non-woven abrasives, and diamond and CBN abrasives.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ abrasives market-industry-analysis
Abrasives Market 2020-2024: Segmentation
Abrasives is segmented as below:
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End-user
- General engineering and tooling
- Fabrication
- Automotive
- Electronics
- Others
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Geography
- North America
- Europe
- APAC
- MEA
- South America
The abrasives market is driven by demand for abrasives from the automotive industry. In addition, other factors such as growth of usage of abrasives in the medical industry is expected to trigger abrasives market toward witnessing a CAGR of 4% during the forecast period.
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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