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Coated Abrasives Market Growth Research Report 2024-2032 | 250 Pages

06-21-2024 10:13 AM CET | Chemicals & Materials

Press release from: Emergen research

Coated Abrasives Market

Coated Abrasives Market

The global coated abrasives market size was USD 15.68 Billion in 2022 and is expected to reach USD 26.49 Billion in 2032, and register a revenue CAGR of 6% during the forecast period. The market revenue growth is driven by factors such as rising demand for coated abrasives in the manufacturing and automotive sectors and rising popularity of Do-It-Yourself (DIY) projects. In addition, rising demand for efficient and long-lasting abrasive materials in metalworking, woodworking, and other applications is driving the market revenue growth.

Market Overview

Coated abrasives are materials used for grinding, cutting, polishing, and finishing various surfaces. They consist of a backing material (paper, cloth, or fiberglass), an adhesive layer, and abrasive grains (such as aluminum oxide, silicon carbide, or zirconia). These products are widely used in numerous industries, including:
Metalworking
Automotive
Electronics & Semiconductors
Woodworking
Construction
Furniture Manufacturing

Get free copy of the  Coated Abrasives Market report 2024: https://www.reportsanddata.com/download-free-sample/7924

Key Trends and Drivers

The growth of the coated abrasives market is primarily driven by several factors:

Rising Industrial Activity: Expansion in the manufacturing sector, particularly in developing economies like China and India, is fueling the demand for coated abrasives for metal fabrication, finishing, and shaping applications.

Advancements in Technology: Development of new abrasive materials and coatings with improved performance and efficiency is propelling market growth.
Growth in Automotive and Aerospace Industries: Increasing demand for lightweight and high-performance materials in these sectors necessitates the use of specialized coated abrasives for finishing and cleaning critical components.

Focus on Automation: Automation in various industries is creating a demand for coated abrasives that can be integrated into automated processes for consistent and efficient finishing.

Restraints and Challenges

However, the market also faces certain challenges:

Stringent Environmental Regulations: Regulations regarding dust control and disposal of abrasives can increase production costs for manufacturers.
Fluctuations in Raw Material Prices: Prices of abrasive grains and backing materials can fluctuate, impacting production costs and profit margins.
Competition from Low-Cost Producers: The presence of low-cost producers in emerging economies can put pressure on prices and profitability of established players.

Growth Opportunities

Despite these challenges, the market presents promising growth opportunities:

Demand for High-Performance Abrasives: Growing emphasis on efficiency and precision in manufacturing is creating a demand for high-performance abrasives that offer faster cutting rates and longer life.

Expansion in Emerging Markets: Increasing disposable incomes and rapid industrialization in developing economies are expected to drive demand for coated abrasives in these regions.

Development of Eco-Friendly Products: Growing environmental concerns are prompting manufacturers to develop eco-friendly abrasives with lower environmental impact.

Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.reportsanddata.com/report-detail/coated-abrasives-market

SWOT Analysis

Strengths:
Wide range of applications
Versatility of products
Established distribution network

Weaknesses:
Dependence on raw material prices
Stringent environmental regulations

Opportunities:
Rising demand from emerging markets
Development of high-performance abrasives
Growing focus on eco-friendly products

Threats:
Competition from low-cost producers
Fluctuations in economic conditions
Technological advancements that may replace traditional abrasives

Latest Strategic Developments

In 2021, 3M Company acquired Polymers and Chemicals, a leading supplier of abrasive materials used in various industries. The acquisition was valued at $1.6 billion and aimed to expand 3M's product offerings in the abrasive materials market.

In 2020, Saint-Gobain Abrasives launched a new line of coated abrasives called the Norton BlazeX F970 Fiber Discs. These discs are designed for heavy-duty applications and provide high performance and durability. They feature a proprietary ceramic Alumina grain technology that provides consistent performance and extended life.

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Key Market Insights :

The Global Coated Abrasives Market has been segmented by product type into discs, rolls, belts, sheets, and others. Among these segments, the discs segment is expected to account for a significantly robust revenue share in the market.The discs segment is expected to drive the growth of the coated abrasives market during the forecast period. This is due to the versatility of discs in a wide range of applications such as grinding, polishing, and sanding. Additionally, discs are cost-effective and easy to use, making them a preferred choice in the metalworking, woodworking, automotive, and aerospace industries.

The Global Coated Abrasives Market has been segmented by application into metalworking, woodworking, automotive, electronics & semiconductors, aerospace & defense, and others. Among these segments, the metalworking segment is expected to account for a significantly robust revenue share in the market.The metalworking segment is expected to drive the growth of the coated abrasives market during the forecast period. This is due to the extensive use of coated abrasives in various metalworking applications such as grinding, deburring, and finishing. Moreover, the increasing demand for lightweight and fuel-efficient automobiles is driving the demand for coated abrasives in the manufacturing of automotive components.

The Asia Pacific region accounted for the largest revenue share in the global coated abrasives market in 2022. The growth of the market in this region can be attributed to the increasing demand from various end-use industries such as automotive, metalworking, and woodworking. China, Japan, and India are the major contributors to the growth of the coated abrasives market in this region. The presence of a large number of manufacturers in the region, coupled with the availability of raw materials at a lower cost, is expected to drive market growth. In addition, the growth of the construction industry in emerging economies such as China and India is expected to further fuel the demand for coated abrasives in the region.

Some major companies included in the global coated abrasives market report are:

Saint-Gobain Abrasives
3M Company
KWH Mirka
Grindwell Norton Ltd.
Carborundum Universal Limited
Dewalt Industrial Tools
Bosch Power Tools
Abcon Industrial Products Ltd.
Fandeli International Corporation
Tyrolit Group
Noritake Co., Ltd

Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370

About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision.

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