SHERIDAN, ALABAMA, USA, February 18, 2022 /EINPresswire.com/ — According to the latest report of the IMARC group, entitled “Abrasives market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global abrasives market reached a value of US$48 billion in 2020. Going forward, the market is expected to grow at a CAGR of 4.5% during 2021-2026. Abrasives refer to materials used in a wide range of industrial, household and technological applications to shape, polish, grind, clean or finish a part. These include natural abrasives, such as corundum, garnet, emery, and pumice, as well as synthetic abrasives, such as silicon carbide, synthetic diamond, and alumina.
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Global Abrasives Market Trends:
The global market is mainly driven by the significant growth of the automotive industry worldwide. This, in conjunction with the growing demand for commercial and passenger vehicles, is contributing significantly to the growth of the market. Apart from this, increasing investments in R&D activities to produce innovative and less hazardous abrasives are creating a positive outlook for the market. Additionally, the growing demand for applied abrasives by end-use industries is catalyzing the growth of the market. Additionally, increasing demand for bonded abrasives including grinding wheels, hook-on wheels, and mounted wheels due to their high efficiency and improved operational capability is also giving impetus to the growth of the market.
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Key Market Segmentation:
Competitive landscape with key players:
The report has also analyzed the competitive landscape of the market with some of the major players being:
Robert Bosch GmbH
Company of Saint-Gobain SA
Asahi Industrial Diamond
Nippon Resibon Corporation
Krebs and Riedel
Breakdown of the market by type of product:
Market Breakdown by End Use:
Breakdown of the market by type of material:
Market Breakdown by Region:
Middle East and Africa
Main highlights of the report:
Porter’s Five Forces Analysis
Market drivers and success factors
Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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