The global coated abrasives market was valued at USD 11 billion in 2016 and is expected to surpass USD 15 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global coated abrasives market to its metals and minerals portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like 3M, Saint-Gobain, Bosch, Hermes Schleifmittel, and KWH Group.
According to Ajay Adhikhari, a lead analyst for metals and minerals research at Technavio, “There is a rising demand for coated abrasives from electronics and transportation industries. In the electronics industry, the high demand is due to their low cost and superior finishing abilities. These abrasives are used extensively in the transportation industry for finishing and grinding.”
Coated abrasives are also used in the consumer goods industry for polishing fiber-optic connectors and finishing semiconductors and electronic devices. An upsurge in the sales of consumer durables, especially in developing regions such as APAC and Latin America, has contributed to the market’s growth.
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Emergence of China as a major consumer and producer
In 2016, China was the leading producer and consumer of coated abrasives. Consumption of coated abrasives has increased in recent times owing to the ongoing economic and industrial development in the country. Additionally, factors such as the high per capita income and demand for consumer goods have increased the need for coated abrasives in the electronics industry in China.
Production value chain incorporating forward integration
Manufacturers of coated abrasives are anticipated to launch innovative products to increase their revenue and remain viable in the highly competitive market. Forward integration in the production value chain is one of the major steps being adopted by vendors to enhance viability in the market. Vendors are also focusing on direct marketing and supplying products to end-users rather than being dependent on intermediaries.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Coated Abrasives Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
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