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India Abrasives Industry Size, Growth Opportunities and Forecast 2024-2031 | Carborundum Universal Ltd, Asahi Diamond Industrial India Private Limited, Grindwell Norton Ltd.
India Abrasives Market || 2024-2031
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What is the projected growth rate (CAGR) of the Global India Abrasives market from 2024 to 2031?
The India Abrasives Market is estimated to reach at a CAGR of 7.9% during the forecast period (2024-2031).
What is India Abrasives Market?
The India abrasives market encompasses a variety of materials used for grinding, polishing, cutting, and finishing surfaces across diverse industries, including automotive, construction, metalworking, and electronics. This market is experiencing growth driven by rapid industrialization, infrastructure development, and increased demand for high-quality finished products. The rise of the manufacturing sector, particularly in automotive and aerospace, fuels the need for advanced abrasives that enhance productivity and efficiency. Additionally, technological advancements in abrasive materials and the growing popularity of eco-friendly products are influencing market dynamics. As industries focus on precision and durability, the demand for specialized abrasives is expected to continue rising in India.
Growth Driver
Growing Construction Industry and Increasing Government Investment
The construction industry plays a vital role in supporting the growth of various sectors and driving overall development in India. Recognizing this, the government has prioritized infrastructure enhancement through strategic policies, including open foreign direct investment (FDI) norms and significant budget allocations for infrastructure projects. Additionally, initiatives like the Smart Cities Mission aim to bolster urban development.
Key Players:
Profiles of some of the major players in the global India Abrasives market, which include Carborundum Universal Ltd, Asahi Diamond Industrial India Private Limited, Grindwell Norton Ltd, Wendt India Ltd, Hindustan Abrasives, Sterling Abrasives Limited, Orient Abrasives Limited, Bosch Limited, Webcast Steels Ltd, and Henkel Anand India Private Limited.
Industry Development:
On February 4, 2022, CUMI Abrasives GmbH (CAG), a wholly-owned subsidiary of Carborundum Universal Ltd. (CUMI), announced the acquisition of two businesses in Germany. The total enterprise value for these acquisitions was ₹464 crore and ₹68 crore, respectively, strengthening CAG's position in the abrasives market.
On November 17, 2020, Asian Paints introduced a new product line of TruStar abrasive sanding paper aimed at the Indian market, expanding their offerings in the abrasives segment.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global India Abrasives market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.
By Type: Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, Others.
By Material: Natural Abrasives, Synthetic Abrasives.
By Application: Drilling, Grinding, Polishing, Cutting, Sharpening, Others.
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Key Features:
➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.
➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.
➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.
➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.
➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.
➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.
➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.
➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.
➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.
➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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