This market research study presents a detailed segmentation of the global abrasives market by type (coated, bended, and super abrasives), by end-user (general engineering and tooling, fabrication, automotive and auto ancillaries, electronics, and others), and by geography (APAC, Europe, North America, and ROW). The key leading vendors in the market are 3M, DuPont, Henkel, Robert Bosch, and Saint-Gobain.
Technavio has released a new market research report on the global abrasives market, which is expected to grow at a CAGR of around 5% between 2016 and 2020. Growing industrialization in developing countries such as India, increasing per capital incomes, and consumer spending are accelerating the demand for abrasives. With the increasing applications of abrasives in automobiles industry, the market for abrasives has a positive outlook during the forecast period. APAC dominates the global abrasives market owing to constant demand from the transportation and construction industries.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“This market is expected to witness increasing adoption and use of garnet over the forecast period. Due to the imposition of stringent environmental regulations in many industries, garnet is increasingly replacing silica-based abrasives. This mineral is cheaper than silica, and its round-shaped grains make it a suitable material for use in many industrial applications. Moreover, in the metal fabrication industry, garnet is mixed with water and is used in waterjet cutter to cut hard metals. Also, garnet is used in abrasive blasting to clean medical devices which will spur the growth prospects of this market until the end of 2020.
Currently, the coated segment leads the abrasives market and holds more than 50% of the market share. Coated abrasives are malleable in nature and are used in the form of belts, discs, and sheets. Moreover, the use of coated abrasives is high in light polishing applications in the auto ancillaries, automobile, hand and power tools, white goods, sanitary ware, furniture, fabrications, and construction industries. Factors such as the growth of global construction and manufacturing market will impel the growth prospects of this market segment in the coming years
The leading vendors in the global abrasives market are 3M, DuPont, Henkel, Robert Bosch, and Saint-Gobain. The market is very competitive and also highly fragmented due to the presence of many large and small suppliers. Many new vendors are expected to enter the market owing to the increasing demand for abrasives. Vendors compete on the basis of innovation, price, quality and performance, and customer-centrism.
A more detailed analysis is available in the Technavio report, Global Abrasives Market 2016-2020.
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