ABRASIVES MARKET TO REACH USD 45.1 BILLION BY 2024 | CAGR 6.4% – FORENCIS RESEARCH

Abrasives Market Size, Share, Trends, Growth, Analysis, Research

Global Abrasives Market: Key Highlights

  • According to the new market research report Abrasives Market by Type (Bonded, Coasted, Super, Others), by Material (Synthetic, Natural), by Application (Buffing, Honing, Drilling, Grinding, Others), by End Users (Automotive, Manufacturing, Construction, Electronics & Electrical, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2017 to 2024)”, the global abrasives market is estimated to reach USD 45.1 Billion by 2024 at a CAGR of around 6.4% during the review period.
  • Abrasives are referred to as the quality of material, usually, a mineral which is utilized to shape or finish work pieces through polishing and rubbing.
  • They are extensively used in a wide range of industries, technologies and domestic applications in the process such as cutting, drilling, honing, lapping, buffing, sharpening, amongst others.
  • Hardness is one of the important properties required in abrasives materials and hardness should be greater than the substance of material that is been worked.

Abrasives Market

Global Abrasives Market: Key Market Dynamics

  • Growth in construction industry coupled with use of abrasive in construction of buildings and bridges has anticipated to boost the demand for the product market
  • Increasing adoption of digitalization has expected to surge the demand for abrasive in manufacturing of printed circuits boards (PCB).
  • Stringent government regulation and lack of availability of raw materials may hamper the growth of abrasives market

Request Sample PDF of Global Abrasives Market:

https://www.forencisresearch.com/abrasives-market-sample-pdf/

Global Abrasives Market: Regional Overview

  • Europe

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

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:

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:

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.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of market research reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets.

Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

Contact Us:

FORENCIS RESEARCH

USA
Aurora
CO 80014

Phone:+1 (720) 306 9020

Email:sales@forencisresearch.com

Website: www.forencisresearch.com

Rep Id : CM 027

Published : 2020-01-17