Global Abrasives Market: Key Highlights
Global Abrasives Market: Key Market Dynamics
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Global Abrasives Market: Regional Overview
Europe is expected to witness demand of abrasive with growing automotive industry in countries such as Germany, France, Spain, and Italy. Presence of key players such as Daimler AG, BMW Group, DAF Trucks, Fiat Chrysler Automobiles, and Ford may propel the demand for product. According to ACEA (European Automobile Manufacturers Association), 19.2 million vehicles where produced in the European Union. Abrasives are used in automotive manufacturing wheels, motor manufacturing, cylinder grinding for crankshafts and camshafts, and other. Thus, its wide application in automotive for exterior and interior of vehicles has expected to surge the demand in the region.
Asia-Pacific is accounted to hold largest share in growth of abrasives market owing to the rising infrastructure and construction activities in emerging countries such as China, India, Indonesia, and Malaysia. For instance, National Bureau of Statistics of China, in 2019 the investment in China was increased by 3.8% than previous years. Moreover, growing electronic industries in countries such as India, China, and Thailand has also expected to surge the market growth
Global Abrasives Market: Key Players Overview
Robert Bosch GmbH is a German-based company and is one of the global leaders in suppliers of technology and services. The company operates through four business segments including Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. In May 2018, the company developed range of abrasive products for angle grinders and will help to strengthen the company’s portfolio.
Saint-Gobain is engaged in designing, manufacturing, and distributing materials and solutions. The company is engaged in innovating and developing wide range of high performance materials for various applications such as automotive, aeronautical, health, defense, security, and food & beverages industries. Saint-Gobain has wide geographical presence in more than 68 countries across the globe. In May 2018, the company launched a new abrasive product “Weber by Norton” in Thailand. This will help to expand its diamond blade range of products.
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