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Abrasives Market Global Opportunity Analysis and Industry Forecast, 2017-2023

Abrasives are hard materials, which are used in a wide range of industrial, domestic, and technological applications to shape or finish a workpiece. Abrasives are classified into natural abrasives including corundum, garnet, emery, and pumice and synthetic abrasives including silicon carbide, synthetic diamond, and alumina among others. Read more at: https://www.alliedmarketresearch.com/abrasives-market

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Abrasives Market Global Opportunity Analysis and Industry Forecast, 2017-2023

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  1. Abrasives Market Opportunity Analysis and Industry Forecast, 2016-2023 Global Opportunity Analysis and Industry Forecast, 2017-2023

  2. Abrasives Market “The demand for abrasives in the automotive industry is increasing considerably, owing to rise in demand for efficient and smooth surfaces. Moreover, growth in demand for cost-effective synthetic abrasives for electronics and construction applications presents lucrative opportunities for players in the global abrasives market.” Eswara Prasad

  3. Abrasives Market Overview: According to a new report published by Allied Market Research, titled, "Abrasives Market by Type, Material, and End-user Industry: Global Opportunity Analysis and Industry Forecast, 2017-2023," the abrasives market was valued at $34,615 million in 2016, and is projected to reach $53,634 million by 2023, growing at a CAGR of 6.5% from 2017 to 2023. The automotive segment accounted for nearly half of the global market in 2016. Abrasives are classified into natural abrasives including corundum, garnet, emery, and pumice and synthetic abrasives including silicon carbide, synthetic diamond, and alumina among others. Abrasives are materials, which are used to mold or finish other rough materials through extensive rubbing. Abrasives work by scraping the outer layers or surfaces for removal of unwanted substances or roughness. Abrasives are used in many end use industries such as metal working, wood working, cleaning, and deburring.

  4. Top Investment Pockets The automotive segment offers maximum market potential in the abrasives market, due to rise in per capita disposable incomes and increase in demand for passenger and commercial vehicles especially in the developing countries of Russia, China, India, and Indonesia, and others. In addition, strict regulatory environment and shift in consumer demand are some other major aspects fueling the growth of the global abrasives market. Finishing of vehicles is accomplished by the use of abrasives for deburring, sizing engine parts, repair and maintenance of the body, cleaning, accessories and interiors of the automobile. These are used to clean the interior surface of pipes, smoothen out welds, and to polish rough and uneven edges and surfaces. The automotive segment is expected to register a CAGR of 6.7% during the forecast period. However, strict government norms on the usage of silica abrasives and fluctuation in raw material prices are some key factors anticipated to hamper the market growth in the near future. Furthermore, investments in R&D activities to produce innovative and less hazardous abrasives are expected to provide opportunities for growth in the future.

  5. Top Investment Pockets

  6. Summary Increase in demand from automobile manufacturers, medical device manufacturers, and electronic equipment manufacturers drives the global abrasives market. Moreover, rise in consumption of abrasives in cleaning applications and surface treatment, such as grinding, dimensioning, blending, finishing, sharping, and polishing, are some other key aspects that drive the growth of the global abrasives market. However, strict government regulations on the extraction of natural abrasives and fluctuations in raw material prices hinder the market growth. Abrasives are expected to witness the highest growth rate in automotive industry, owing to increase in demand for passenger and commercial vehicles especially in the developing economies across the globe. Furthermore, rapid urbanization and upsurge in demand for efficient abrasive materials for cutting and grinding precious metals are expected to boost the market growth. The automotive segment accounted for around half of the global market, in terms of volume, in 2016. The demand of abrasives has increased due to response to the perennial modifications in the automotive industry. Thus, increase in requirement of high-tech synthetic abrasives and rise in adoption of new abrasive materials especially in automotive industry fuel the demand for abrasives across the globe.

  7. Key Benefits • The report provides extensive qualitative & quantitative analyses of the current trends and future estimations of the global abrasives market from 2016 to 2023 to determine the prevailing opportunities. It offers comprehensive analysis of key regions, such as North America, Europe, Asia-Pacific, and LAMEA, to understand the regional trends. In-depth analysis of factors that drive and restrict the growth of the market is provided. Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework. It offers key insights on strategic analysis of various companies and the value chain analysis of abrasives. • • • •

  8. Key Findings of the Abrasives Market: • The automotive segment is anticipated to grow at the highest CAGR during the analysis period. • Asia-Pacific is projected to maintain its lead position from 2017 to 2023, growing at a CAGR of 5.2%, in terms of volume. The automotive application segment occupied around half of the total market in 2016. China occupied around two-fifths of the Asia-Pacific market in 2016. In terms of value, Italy is expected to grow at a significant CAGR of 6.8% during the forecast period. In 2016, Asia-Pacific and LAMEA collectively accounted for nearly half of the global market, in terms of volume, and are expected to continue this trend during the forecast period, owing to increase in urbanization, especially in China, India, Brazil, and other developing countries. Moreover, rapid urbanization, increase in per capita income, and growth in overall consumer expenditure drive the growth of the Asia-Pacific market.

  9. Company Profiled in Abrasives Market The major companies profiled in the report include • Robert Bosch GmbH, • Cosentino S.A., • 3M Company, • Henkel AG & Co. • KGAA, • Saint-Gobain Abrasives, • Inc., Dupont, • Asahi Diamond Industrial Co., Ltd., • Carborundum Universal Limited, • Fujimi Incorporated. Request Sample at: https://www.alliedmarketresearch.com/request- sample/2155

  10. Abrasives Market Geography North America Europe Asia-Pacific LAMEA

  11. Abrasives Market Thank You! For More Details Visit us at https://www.alliedmarketresearch.com/abrasives-market Follow Us On

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