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Coated Abrasives Market Size, Share | Global Industry Report 2022 - Saint-Gobain Abrasives, Inc, 3M, sia Abrasives Industries AG, Robert Bosch GmbH, Asahi Diamond Industrial Co., Ltd, Napoleon Abrasives S.p.a, Hermes Schleifmittel GmbH, Sungold Abrasives
Coated Abrasives Market to Benefit from the Surge in Precision Grinding
Coated Abrasives Market – Market Overview
Coated Abrasives are made from loose abrasive grains bonded to a backing or flexible substrate such as paper, cloth or plastic films, using adhesives and converted into different shapes such as belts, rolls, discs, sheets.
Owing to its superior properties and advantages such as high tensile strength, resistance to heat, fracture, and durability, it finds application in metal and wood working, automotive, aerospace & defence, and electronics & semiconductor industries. The increasing demand from the metal working and automotive is expected to drive the Global Coated Abrasives Market in the coming years. According to MRFR analysis, the Global Coated Abrasives Market was valued at USD 10,233.3 million in 2016 and is expected to be valued at USD 14,671.2 million by the end of 2022, expanding at a CAGR of 6.3%. This can be attributed to increasing consumption of coated abrasives in the major end-use industries. On the basis of applications, metals working accounted for the largest market value share for Coated Abrasives in 2016 and is expected to continue its dominance during the forecast period, followed by wood working and automotive application segments. However, availability of substitute such as super abrasives is likely to hamper the market growth.
In 2016, Asia-Pacific accounted for the largest market share followed by Europe and North America. The Asia Pacific region offers large growth potential for Coated Abrasives Market and is projected to register a CAGR of 6.9% to reach USD 5,453.5 million by 2022 owing to the rapid industrialisation in the region along with presence of considerable number of producers coupled with cheap labour cost and growing exports.
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Coated Abrasives Market- Competitive Landscape
The Global Coated Abrasives Market is demonstrating a prominent growth due to the increasing demand of Coated Abrasives in the metal working industry for metal finishing, grinding, and polishing applications. Saint-Gobain (France), 3M (US), Sia Abrasives AG (Switzerland), Napoleon Abrasives SPA (Italy), Sungold Abrasives (US), Noritake Co. Limited (Japan), among others are some of the leading players in this market. Most of these participants adopt various strategies such as product launch, expansion, R&D, and merger & acquisition to strengthen their market position. Considering these trends, the Global Coated Abrasives Market is set to witness a considerable competition during the forecast period, 2016–2022.
Industry/ Innovation/ Related News:
February 2016- Saint-Gobain entered into a partnership agreement with Detroit Speed, a manufacturer of high-quality automotive components and systems and a builder of vintage custom cars for supply of Norton abrasives for refinishing applications.
August 2015- Sia Abrasives AG launched its new line of flexible Coated Abrasive line, 1948 siaflex abrasive line. The new product is made up of combination of blue-fired and white aluminum oxide on a latex substrate, which provides flexibility and ease in stock removal. The new abrasive is available in discs, sheets and rolls.
April 2015- Saint-Gobain entered into a joint venture with British Indústria e Comércio Ltda., a manufacturer of Non-Woven Abrasives in Brazil. Saint-Gobain acquired 70% of company’s equity with this joint venture, further expanding Saint-Gobain’s presence in the Brazilian market.
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