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Global Abrasives Market Value Hit USD 84.84 billion by 2030, Expanding at a CAGR of 6.6% by 2020 to 2030

/EIN News/ -- Pune, June 05, 2021 (GLOBE NEWSWIRE) -- "Final Report will add the analysis of the impact of COVID-19 on this industry."

Global “Abrasives Market” report covers comprehensive data on operation landscape and trend analysis, market drivers, growth opportunities, and segmentation in terms of region. It presents a point-by-point analysis that includes products, applications, and competitor analysis. Abrasives market report highlights the latest strategies of top key players that include new product launches, partnerships, joint ventures, and the latest technology. It provides a precise evaluation of market share, size, growth rate, revenue, sales, and value chain analysis.

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Market Overview:
The Global Abrasives Market was valued at USD 41.54 billion in 2019 and is projected to reach USD 84.84 billion by 2030, expanding at a CAGR of 6.6% during the forecast period, from 2020 to 2030. Based on volume, the global abrasive market was valued at 43,738.4 kilotons in 2019 and is expected to reach 84,643.5 kilotons by 2030, at a CAGR of 6.1% from 2020 to 2030.

Abrasives are primarily minerals derived either from natural or synthetic sources. Abrasives are widely used for buffing, grinding, cutting, drilling, honing, lapping, polishing, sharpening, and sanding. They are extensively employed in domestic, industrial, and technological applications, as they are available in numerous sizes, physical compositions, shapes, and chemical compositions. Commonly used abrasives include silicon carbide, aluminium oxide, cubic boron nitride, and diamond. In special applications, materials such as garnet, zirconium, glass, and walnut shells are employed to provide a superior finish.

The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers. The Key Manufacturers in this market include:

  • Kier Group
  • Deerfos Co., Ltd.
  • Tyrolit Group
  • LafargeHolcim
  • Stanley Black & Decker Incorporated
  • Almatis GmbH
  • Sia Abrasives
  • Cabot Microelectronics Corporation
  • The Dow Chemical Company
  • Winterthur
  • FMSA Holdings Incorporated
  • Jason Incorporated
  • Fujimi Incorporated
  • Treibacher, Global Material Technologies Incorporated

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Market Dynamics and Trends:
Increasing demand for abrasives from the metal fabrication industry, massive production of electronic components, and reducing cost of synthetic diamonds are driving the global abrasives market. The automotive segment is projected to create opportunities, as abrasives play a vital role in the manufacturing of automotive components. Rising disposable income and growing demand for passenger and commercial vehicles are anticipated to propel the market in the future. However, factors such as the implementation of stringent regulations on the usage of silica abrasives and fluctuation in the prices of raw materials may hamper the abrasives market.

Market Segmentation and Scope of the Study:
The abrasives market has been segmented into type, material, end-user industry, and geography. Based on type, the market is segmented into bonded, coated, and super. On the basis of material, the abrasives market is bifurcated into natural and synthetic. In terms of end-user industry, the market is divided into automotive, machinery, aerospace, metal fabrication, electronics, construction, and others. Based on geography, the global market is categorized as North America, Europe, Asia-Pacific, and RoW.

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Abrasives Market Segmentation:
Global Abrasives Market - By Type
o Bonded
o Coated
o Super

Global Abrasives Market - By Material
o Natural
o Synthetic

Global Abrasives Market - By End User Industry
o Automotive
o Machinery
o Aerospace
o Metal Fabrication
o Electronics
o Construction
o Others

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Geographical Analysis:
Asia-Pacific holds the dominant share in the global abrasives market and is expected to continue its dominance throughout the forecast period due to factors such as increasing investments by manufacturers in this region, high demand for abrasives in the booming construction sector, government initiatives to increase foreign direct investment (FDI) in the manufacturing sector, and rapid growth of various other end-user industries such as automotive, machinery, and metal fabrication. The market in North America is estimated to expand at a high pace due to the increasing demand for abrasives from the furniture and interior designing industry, its high adoption in metal fabrication applications, and rapid industrialization.

The study objectives of this report are:

  • To study and analyze the global Abrasives market size (value & volume) by company, key regions/countries, products and application, history data, and forecast to 2030.
  • To understand the structure of the Abrasives market by identifying its various sub-segments.
  • To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).
  • Focuses on the key global Abrasives manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
  • To analyze the Abrasives with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To project the value and volume of Abrasives submarkets, with respect to key regions (along with their respective key countries).
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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With tables and figures helping analyze worldwide Global Abrasives market trends, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

Key Points from TOC:
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1 Secondary Research
1.2.2 Data Analysis Framework
1.2.3 Market Size Estimation
1.2.4 Forecasting
1.2.5 Primary Research And Data Validation
2. Market Snapshot, 2019-2030 Million Usd
2.1. Market Snapshot
3. Porter’s Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
...........
10. Company Profiles
Continued.......

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