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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, TYROLIT group, DEERFOS Co., Ltd., VSM Abrasives Corporation, Napoleon Abrasives S.p.a, Sungold Abrasives

04-05-2019 11:14 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Research Future

Coated Abrasives Market to Benefit from the Surge in Precision Grinding

Coated Abrasives Market to Benefit from the Surge in Precision Grinding

Market Insights

Coated Abrasives some in a number of forms, with the most popularly known form being sandpaper. Coated Abrasives are witnessing continued use as an industrial tool, and as a result, the Coated Abrasives Market is likely to grow consistently upward. Market Research Future has identified the various factors affecting the market and recorded them in its newest report on the Global Coated Abrasives Market. According to MRFR, the global market is set to register a CAGR of 6.3% during the forecast period from 2017 to 2022. Valued at USD 10.23 Bn in 2016, the Global Coated Abrasives Market will likely appreciate reaching USD 14.67 Bn in market value.

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Coated Abrasives find applications across a truly wide number of industries. Notably, the automotive industry has been observed to be significant in the increasing demand for Coated Abrasives. These abrasive materials are used extensively in blending, finishing, polishing and grinding applications for automotive vehicles. Moreover, the expansion of urbanization in emerging economies has resulted in high demand for residential and commercial buildings, thus resulting in a boom for the furniture industry. Coated Abrasives are a vital part of furniture production, thus driving the growth of the global market. Moreover, coated abrasives are an indispensable part of the manufacturing process for a number of industries. The rapid growth of the manufacturing sector, with emerging economies establishing themselves as manufacturing hubs, is expected to impact the market positively.

Despite the promising growth and their affordability, the demand for Coated Abrasives is threatened by the rise of super abrasives. Super abrasives display superior performance such as reduction of manufacturing downtime among others. As a result, the growth of the Coated Abrasives Market is hindered. However, the growing adoption of chemical vapor deposition (CVD) during the manufacturing of coated abrasives manufacturing has resulted in the expansion of applications and is likely to create opportunities for the market.

Key Players

Leading market participants have been recorded in MRFR's report. At the forefront of the competition are players such as Sia Abrasives Industries, AG, 3M, Robert Bosch GmbH, Saint-Gobain Abrasives Inc., and Carborundum Universal Limited. Other players profiled in the report include Tyrolit Group, Jason Incorporated, DowDuPont Inc., Hermes Schleifmittel GmbH, and Sungold Abrasives among several others.

Latest Industry News

CGW-Camel Grinding Wheels has changed its name to CGW Abrasives to better reflect its product offering and potentially increase market share in the coming years.

GNAP, a national distributor of coated abrasives is being acquired for USD 108 Mn.

Market Segmentation

The Global Coated Abrasives Market has been segmented in MRFR's report to offer a detailed view of the market. Segmentation of the Coated Abrasives Market has been performed on the basis of Type, Application, and Region. Types of Coated Abrasives have been segmented into silicon carbide, aluminum oxide, zirconia aluminum oxide, garnet, emery, and ceramic aluminum oxide. Among these, the aluminum oxide segment is at the forefront of the market with the highest growth at a CAGR of 6.73%.

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Applications of Coated Abrasives divide the market into metalworking, automotive, electronics & semiconductors, woodworking, aerospace & defense, and others. The metalworking segment dominated the market in 2015 with a value of USD 2.5 Bn.

Regional Analysis

The Asia Pacific has established itself as the most significant market in the Global Coated Abrasives Market due to the concentration of leading market players in the region as well and the rapid industrialization which is ongoing in the regional market. The APAC has established itself as a manufacturing hub, which has resulted in a market value of USD 3.44 Bn for the regional Coated Abrasives Market. Increasing export and manufacturing activities are expected to secure the APAC's position over and beyond the forecast period. Meanwhile, the Middle East and Africa have emerged as the fastest growing regional Coated Abrasives Market with a CAGR of 7.89% through the review period. Increasing economic stability of emerging economies in the region combined with the regions close proximity to the APAC market has encouraged market expansion activities in this 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 Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics 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.

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