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Abrasives Market Trends, Growth, Analysis and Forecast by 2028 with Top Players

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MRFR Research
Abrasives Market  Trends, Growth, Analysis and Forecast by 2028 with Top Players

As per Market Research Future (MRFR)’s analysis, the global Abrasives Market is projected to be worth USD 59.4 Billion by 2030, registering a CAGR of 4.90% during the forecast period (2021 - 2030).

The global abrasives market is projected to witness remarkable growth owing to driving factors such as the significant expansion in the automotive and transportation sectors globally. Moreover, the growing middle-class population and constant growth in the electronics industry in developing countries across the globe are projected to drive the demand for abrasives during the review period. However, staggering prices of raw material are likely to affect the profit margin of the market players negatively, which, consequently, is expected to hinder the growth of the market during the forecast period.

Key Players

The key players identified in the global abrasives market are 3M, Asahi Jason Incorporated, Cabot Microelectronics Corporation, Carborundum Universal Limited, DowDuPont, DEERFOS Co., Ltd, Diamond Industrial Co., Ltd, Fujimi Incorporated, KREBS & RIEDEL, Noritake Co., Ltd, Robert Bosch GmbH, Saint-Gobain Abrasives, Inc., Schaffner Manufacturing Company, Inc, sia Abrasives Industries AG, Inc., and TYROLIT group.

 

Segmental Analysis

The global market for abrasives is segmented on the basis of source, material, type, and application.

Based on the source, the market for abrasives is segmented into natural and synthetic.

Based on the material, the abrasives market is segmented into aluminum oxide, silicon carbide, emery, corundum, boron carbide, and others. Among these, aluminum oxide accounts for the largest market share and is expected to maintain its leading market valuation over the review period, followed by silicon carbide and emery.

Based on the type, the abrasives market is segmented into bonded, coated, super, and others. among these, coated abrasives segment is expected to acquire the leading market share over the forecast period, at a CAGR of 4.90%.

Based on application, the global market for abrasives is segmented into automotive, construction, electrical & electronics, machinery, metalworking, and others. among these, the metalworking segment is expected to register the highest market share over the assessment period, owing to the broad range of applications driving the demand, such as deburring, grinding, polishing, and other metalworking applications.

Regional Analysis

Based on the region, the global super abrasives market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The Asia Pacific (APAC) has been assessed as the fastest growing region in the global abrasives market at 5.49% CAGR and is expected to account for the largest market share of USD 30,516.6 million over the forecast period. This substantial growth is attributable to the several initiatives undertaken by the governments of emerging economies such as Japan, India, and China.

Europe is one of the significant regions in the global abrasives market and is expected to reach a substantial market valuation at a notable CAGR over the review period. the growth in Europe is driven by the robust manufacturing base of the automobile and transportation sectors in economically stable, developing countries such as France, Germany, Italy, and the U.K.

The Americas (North America and Latin America) are expected to witness steady growth over the assessment period owing to the massive demand from the interior designing and furniture industry. Additionally, the high adoption rate of abrasives in mental fabrication and the rising growth of the end-user industry is expected to contribute significantly to the market share over the evaluation period.

The Middle East and Africa region are expected to witness steady and gradual growth over the forecast period, owing to the increasing operations taking place in the building and construction sector in emerging middle eastern countries such as Saudi Arabia, United Arab Emirates, Kuwait, and turkey. The middle east countries are expected to contribute to the majority of the market share from this region since Africa is expected to acquire the smallest market share over the assessment period. This is attributable to the weak economy and political unrest in the region.


About Market Research Future - 

 At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Edibles. 

MRFR team has the supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

 In order to stay updated with the technology and work process of the industry, MRFR often plans to conduct meet with the industry experts and industrial visits for its research analyst members.

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 Website: https://www.marketresearchfuture.com 

 

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