global abrasives market is Poised to Exhibit A Moderate CAGR 5.5% between 2013 and 2019
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As per the market study, use of abrasive materials and abrasive goods in several industries such as machinery, transportation, electrical & electronic equipment, and metal fabrication for desired surface finish and desired shape of objects is the major factor driving growth of the global abrasives market. However, stringent government regulations on the use of silica abrasives and volatile feedstock prices may hamper growth of the market in the next few years. The market study segments the global abrasives market on the basis of products, end users, and geography. Product-wise, bonded abrasives held the largest market share of the global abrasives market in 2012, followed by coated abrasives and loose abrasive grains, as examined by the research report.Further, as per the findings of TMR analysts, the bonded abrasives segment of the market was valued at US$12,278.3 million in 2012 and is anticipated to reach US$16,719.7 million in 2019, growing at a 4.5% CAGR from 2013 to 2019.
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Metal fabrication follows the machinery end-user segment in the abrasives market, as pointed out in the study. Owing to the ever-increasing demand for electrical and electronic goods and automobiles worldwide, the electrical and electronics and transportation end-use segments will register the fastest growth in the near future. Other end-user sectors such as medical devices, construction, power generation, and cleaning and maintenance will also have elevated demand for abrasives in coming years, resulting in promising growth prospects for the global abrasives market.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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