Industry Outlook 2023-2028

The latest report by IMARC Group, titled, “Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the abrasives market revenue. The report also includes competitor and regional analysis, and contemporary advancements in the market.  The global abrasives market size reached US$ 45.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028. Abrasives are sharp, mineral-based materials that are majorly used to offer finishing to both hard and soft materials. They are hard crystals that are either found in nature or can be synthetically manufactured. They are widely utilized to clean surfaces and to remove excess material coarsely. Apart from this, they are also employed for shaping in form grinding, sizing in precision grinding, tool sharpening, blast cleaning, separating in slicing operations, roughening in matte finishes and in the manufacturing of intricate components. As a result, they are gaining widespread preference among various end users such as the automobile, electrical and mechanical industries.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Abrasives Market Demand:

The global market is primarily driven by significant growth in the automotive industry. These materials are widely utilized for the manufacturing of various automotive parts, such as mirrors, air ducts and fuel tanks. Additionally, abrasives are crucial for minimizing carbon dioxide emissions and lowering noise levels in automobiles. Rapid urbanization, increasing global population and inflating per capita income levels have provided a boost to the sales of automobiles across the globe, thereby catalyzing the demand for abrasives.

Moreover, the demand for these materials for metal fabrication is also providing a thrust to the market growth. Since they are utilized for surface blending as well as for removing welds, the emergence of automation in metal fabrication is expected to provide a stimulus to the market growth. Furthermore, extensive research and development (R&D) have led to the introduction of the next generation of non-woven abrasives in the market. Also, these materials provide minimal smearing issues, enhanced versatility and faster cut-rate, which is further contributing to their widespread preference across industries.

Competitive Landscape with Key Players:

• Robert Bosch GmbH
• Dowdupont
• Fujimi Incorporated
• Compagnie De Saint-Gobain S.A.
• Henkel
• 3M Company
• Asahi Diamond Industrial
• Carborundum Universal
• Tyrolit Group
• Nippon Resibon Corporation
• Krebs & Riedel
• Abrasiflex
• Noritake
• Deerfos
• Sankyo-Rikagaku

Also Read the Full Blog: Top 10 abrasive manufacturers in world

Key Market Segmentation:

Product Type:

• Bonded Abrasives
• Coated Abrasives
• Super-abrasives
• Others

End-Use:

• Machinery
• Metal Fabrication
• Automotive
• Electronics
• Construction
• Others

Material Type:

• Natural Abrasives
• Synthetic Abrasives

Region:

• Asia Pacific
• Europe
• North America
• Latin America
• Middle East and Africa

Key highlights of the Report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Report Coverage:

Read More: https://foodtravellibrary.com/