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Abrasives Market worth $70.5 billion by 2027

 



(EnergyIndustry.Net, June 25, 2019 ) The report "Abrasives Market by Material (Natural, Synthetic), Type (Bonded, Coated, Super), Product Type (Disc, Cups, Cylinder), End-use Industry (Automotive, Machinery, Aerospace, Metal Fabrication, Electrical & Electronics), and Region - Global Forecast to 2027": The abrasives market is projected to grow from USD 42.3 billion in 2018 to reach USD 70.5 billion by 2027, at a CAGR of 5.97%.



Request PDF of Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=16531756



Disc grinding wheel is projected to witness high consumption during the forecast period



Grinding wheel, the most important abrasive product, is involved in the manufacturing of machinery, electrical, electronic components, and automotive components. It is made of an abrasive grain, and is a self-sharpening cutting tool. The majority of grinding wheels made have a vitreous, ceramic bond, and are made of clays and feldspars. The disc grinding wheel segment accounted for the largest share in 2018 due to higher speed, improved efficiency, and better productivity.



Automotive segment held the largest market share of the abrasives market



The automotive segment accounted for the largest share in 2018 due to the rise in disposable income, especially in developing countries, which has led to an unprecedented demand for passenger and commercial vehicles. Efficient finishing of automobiles requires abrasives for sizing engine parts, deburring, cleaning, repairing and maintaining the body, interiors, and accessories of the automobile. They are primarily used to smooth out welds, clean the interior of pipes, and to smoothen out uneven and rough surfaces and edges. Furthermore, coated abrasives are used in the transportation sector for finishing and grinding applications. Thus, this augmented demand for automobiles is expected to indirectly drive the growth prospects of the abrasives market in the coming years.



Don't miss out on business opportunities in Abrasives Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=16531756



Browse in-depth TOC on "Abrasives Market”

144 - Market Data Tables

42 - Figures

150 - Pages



Asia Pacific to play a key role in the abrasives market

The growth in Asia Pacific region is driven by factors such as the augmented demand for automobiles, rise in the sales of electronic devices, efforts toward standardization, expanding application segments, rapid urbanization in China and India, along with the growth in disposable income in these countries.



At a global level, companies such as Bosch (Germany), 3M (US), DowDuPont (US), Saint-Gobain Abrasives (France), and Fujimi Incorporated (Japan) are providing abrasive products. Large construction players such as LafargeHolcim (France), Balfour Beatty PLC (UK), and Kier Group (UK) have a scope to enter into abrasive services. Other players in the market include Henkel (Germany), Tyrolit (Austria), Asahi Diamond Industrial Co., LTD (Japan), Deerfos (Korea), and Carborundum Universal Limited (India).



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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.



Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



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