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Abrasives Global Market 2023 - By Industry Analysis, Key Strategies, Business Segmentation, latest Technology And Forecast To 2032
Abrasives Market
Abrasives Market Size, Growth Rate, And Forecast
The global abrasives market size grew from $39.9 billion in 2022 to $43.85 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The abrasives market size is expected to grow to $65.07 billion in 2027 at a CAGR of 10.4%.
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Abrasives Market Drivers
The growing electrical vehicle (EV) industry is expected to propel the growth of the abrasives market. An electric vehicle (EV) uses an electric motor and is charged at electric stations rather than internal combustion. This upswing is coupled with the compelling need to populate the huge worldwide road network with electric vehicle (EV) charging stations, as the meteoric rise of the electric car shows every indication of lasting far into the future.
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Abrasives Market Segments
• By Raw Material: Natural, Synthetic
• By Type: Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, Super Construction Abrasives
• By Form: Block Form, Powdered Form
• By Application: Grinding, Cutting, Polishing, Drilling, Finishing, Other Applications
• By End User: Automotive, Machinery, Aerospace, Electrical & Electronics, Construction, Furniture
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Abrasives market.
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Abrasives Market Key Players
Major competitors in the Abrasives market include Robert Bosch GMBH, 3M Company, Saint-Gobain Abrasives Inc., Fujimi Incorporated, Henkel AG & CO. KGAA, Tyrolit Group, Asahi Diamond Industrial Co. Ltd.
The Business Research Company's "Global Abrasives Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Abrasives Market Include:
1. Executive Summary
2. Abrasives Market Market Characteristics
3. Abrasives Market Market Trends And Strategies
4. Abrasives Market - Macro Economic Scenario
5. Abrasives Market Market Size And Growth
.......................
26. Africa Abrasives Market Market
27. Abrasives Market Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Abrasives Market Market
29. Abrasives Market Market Future Outlook and Potential Analysis
30. Appendix
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Market Scenario:
Abrasive can be defined as substance used for giving shape to any hard material by rubbing the material against the abrasives. Abrasives are divided into three main categories, bonded abrasives, coated abrasives, and super abrasives. Coated Abrasives are abrasives, which consist of an abrasive grain fixed into a backing material or substrate generally made of paper, cloth, vulcanized rubber, and polyester film. The most commonly used coated abrasives grains…
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