Abrasives are the substances that are used to make the other materials smooth by extensive rubbing mechanism. They work by rubbing the rough surface and making it smooth and even in order to rid of undesirable roughness. These abrasives are natural or synthetic. Natural abrasives include diamond, corundum, and emery whereas synthetic abrasives include silicon carbide, synthetic diamond, and alumina. These abrasives have wide applications across the industries such as automotive & transportation, heavy machinery, metal fabrication, electrical & electronic equipment, and others.
The "Global Abrasive Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the abrasive market with detailed market segmentation by type, category, application, and geography. The report provides key statistics on the market status of the leading abrasive market players and offers key trends and opportunities in the market.
- On the basis of type, the market is segmented into coated, bonded, and super abrasives.
- On the basis of category, the market is segmented into natural and synthetic.
- On the basis of application, the market is segmented into automotive & transportation, heavy machinery, metal fabrication, electrical & electronic equipment, and others
- Rising demand for pre-engineered automotive parts and components coupled with rapid growth of metal fabrication industry are some of the crucial factors driving the market growth
- Moreover, rapid development of manufacturing sector and surging demand for abrasives from other end use industries such as electrical & electronics, aerospace, etc. are also contributing a major share in the growth of abrasives market across the globe.
- Fluctuating raw material prices may act as a restraint for the market growth.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The abrasive market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the abrasive market in these regions.
IMPACT OF COVID-19 ON ABRASIVE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.
The report covers key developments in the abrasive market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from abrasive market are anticipated to lucrative growth opportunities in the future with the rising demand for abrasive in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the abrasive market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Henkel AG & Co. KGaA
- Bosch Limited
- Fujimi Incorporated
- Asahi Diamond Industrial Co.,Ltd.
- Tyrolit Group
- Sak Industries
- Deerfos Co., Ltd.
- Hindustan Abrasives
- Blue Ribbon Abrasives Co., Inc.
- Falcon Abrasive Manufacturing, Inc.
- Sterling Abrasives Limited
- STARCKE Abrasives USA, Inc.
- United Abrasives
- ABShot Tecnics S.L.
- ARC ABRASIVES, INC.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.