Global Asbestos Market 2024 Latest Trends, New Technologies, Recent Development And Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2116

The Business Research Company offers in-depth market insights through Asbestos Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The asbestos market size has grown rapidly in recent years. It will grow from $1.07 billion in 2023 to $1.19 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to industrialization boom, military applications, construction and building industry growth, mining and export boom , automotive industry adoption.

The asbestos market size is expected to see rapidly grown in the next few years. It will grow to $1.75 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to regulatory bans and restrictions, rising awareness of health risks, advancements in asbestos alternatives, global economic trends, legal litigation and compensation. Major trends in the forecast period include substitution with safer alternatives, emergence of green building practices, regional shifts in production and consumption, technological innovations in abatement and removal, investment in asbestos waste management.

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Market Segmentation:
The asbestos market covered in this report is segmented -
1) By Type: Metallurgical Forging, Furnace Casting, Welding and Cutting, and Glass Production
2) By Mining Type: Underground Mining, Surface Mining

Major Driver - Growing Demand For Mining Drives The Market
The growth in the asbestos market is due to increasing demand for mining, improving technologies, and emerging markets. For instance, in 2022, according to International Trade Administration, a US-based government agency, Mining accounted for almost 10% of the total GDP in 2020, being a major contributor to Australia's economy. Further, according to British Geological Survey, a UK-based government agency, the global production of several minerals such as potash and bauxite increased by more than 5 percent in 2020 compared to the previous year.

Competitive Landscape:
Major companies operating in the asbestos market report are Oriental Enterprises, Core Safety Group, Chongqing Jincan Insulation Material Co Ltd., Balaji Enterprises, Johns-Manville, A.B.B. Lummus Global Inc., Armstrong Contracting and Supply Corporation, A.P. Green Industries, Abex Corporation, Amatex Corporation, Armstrong World Industries, Babcock & Wilcox, Bell Asbestos Mines, Bestwall Gypsum, Borg Warner Company, Burnham Holdings, C.E. Thurston & Sons, Celotex, CertainTeed Corporation, Cleaver-Brooks, Combustion Engineering, Congoleum Corporation, Crown Cork and Seal, Daimler Chrysler, Dana Corporation, EaglePicher Industries Inc., Ehret Magnesia, E.J. Bartells Company, GAF Corporation, Garlock Sealing Technologies, General Electric Company, Georgia-Pacific Corporation, Goodyear Tire and Rubber Company, H.K. Porter Company

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Top Trend - Integration Of IOT In Asbestos Mining
Internet of Things technology gives miners greater insights into the working condition of their equipment. Sensors on the mining machinery drive predictive maintenance that in turn reduces the likelihood of unplanned, unscheduled downtimes that often drain the resources of mining companies, which is the major trend in the Asbestos market. Several large asbestos mining companies are planning and evaluating ways to start their digital journey and digitalization in the mining industry to manage day-to-day mining operations. For instance, they are implementing sensors on mining equipment and systems that monitor the equipment and its performance. These sensors generate large chunks of data, which are then analyzed to discover more cost-efficient ways of running operations and reducing overall operational downtime.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Asbestos Market Characteristics
3. Asbestos Market Trends And Strategies
4. Asbestos Market - Macro Economic Scenario
5. Asbestos Market Size And Growth
…..
27. Asbestos Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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