Strong Growth in Abrasives Market | Rising Metal Fabrication Industry Massive Production of Electronics Components are Drivers

The abrasives market is projected to grow from USD 42.3 billion in 2018 to reach USD 70.5 billion by 2027, at a CAGR of 5.97%.

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Growth Drivers :
• Rising Metal Fabrication Industry
• Growing Automobile Market
• Massive Production of Electronics Components
• Growing Medical Devices Market
• Decreasing Cost of Synthetic Diamond

Strong demand from end-use industries such as metal fabrication, automotive industry drives the global abrasives market

An abrasive, a type of hard mineral or material, has found use in a wide range of domestic, industrial, and technological applications. Abrasives are used in various operations such as grinding, polishing, lapping, honing, pressure blasting, and others. They come in different particle or grit sizes depending on the amount of material needed to be removed. Abrasives are widely used in various end-use industries such as automotive, metal fabrication, electrical, electronics, and healthcare. They are used in the form of grinding wheels, sandpapers, honing stones, polishes, cutoff wheels, tumbling, vibratory mass-finishing media, sandblasting, pulps tones, ball mills, and other products.

Asia Pacific to play a key role in the abrasives market

The growth in Asia Pacific region is driven by factors such as the augmented demand for automobiles, rise in the sales of electronic devices, efforts toward standardization, expanding application segments, rapid urbanization in China and India, along with the growth in disposable income in these countries.

At a global level, companies such as Bosch (Germany), 3M (US), DowDuPont (US), Saint-Gobain Abrasives (France), and Fujimi Incorporated (Japan) are providing abrasive products. Large construction players such as LafargeHolcim (France), Balfour Beatty PLC (UK), and Kier Group (UK) have a scope to enter into abrasive services. Other players in the market include Henkel (Germany), Tyrolit (Austria), Asahi Diamond Industrial Co., LTD (Japan), Deerfos (Korea), and Carborundum Universal Limited (India).

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Major Market Developments:
• In August 2017, 3M launched its innovative demo van which is specifically created to enhance its market penetration in the automotive industry with abrasive solutions.
• In November 2016, Robert Bosch GmbH (Germany) extended its new product in the range of abrasives by developing sanding sheet which is an open net has structured that enables dust extraction across the entire surface in comparison to conventional sanding sheets.
• In May 2015, Saint-Gobain launched Norline, premium and high-performance cut-off and grinding wheels. The addition of these abrasive products will increase the product range of the company.

Target Audience:
• Raw material suppliers
• Abrasive manufacturers
• Traders and distributors of abrasives
• Commercial R&D institutions
• Associations and industry bodies
• Regulatory bodies
• End-use industries such as automotive, metal, electrical, electronics, and others (construction, medical devices, power generation, and cleaning & maintenance)

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