Global Abrasive Market Anticipated to Surpass $51 Billion by 2023 - Escalating Production of Automobiles & Demand for Consumer Electronics is Driving Growth
DUBLIN, Dec. 10, 2019 /PRNewswire/ -- The "Global Abrasive Market (By Material Type, Product Type and End-Use Industries): Insights, Trends and Forecast (2019-2023)" report has been added to ResearchAndMarkets.com's offering.
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The global abrasive market is expected to reach US$51.36 billion in 2023, increasing at a CAGR of 4.16%, for the duration of 2019-2023.
The factors, such as escalating production of automobiles, increasing construction expenditure on a global scale, accelerating demand for consumer electronics, growing urbanization and rising usage of abrasives in the medical industry, are likely to drive the growth of the market.
However, the market growth would be challenged by the volatile process of raw materials, constraints of raising high capital amounts and regulatory framework. A few notable trends include accelerating deployment of industrial robots, expanding furniture industry across the world, rapid development in the e-commerce trading platforms, and increasing application of abrasives in surface cleaning.
The global abrasives market has three major product types - bonded abrasives, coated abrasives and super abrasives. Bonded abrasives are the highly used abrasives on the global scale due to the increased demand from the automotive, machinery and metal fabrication industries. Whereas, the market shares of bonded abrasives, as well as super abrasives, are also growing gradually, owing to the rapid demand from various emerging countries.
The fastest growing region is Asia-Pacific, owing to the rising production and application of abrasives in various emerging countries, including China, India and Korea. Growing demand for abrasives from the automotive industry is the key driving factor in the rising product demand. Whereas, the development of precision tooling and sophisticated machine part of manufacturing units is driving the market growth in Europe and North America.
Scope of the Report
-- The report provides a comprehensive analysis of the global abrasive
market, further segmented on the basis of Material Type, Product Type
and End-Use Industries.
-- The major regional markets (Asia-Pacific, Europe, North America and the
Middle East), along with the country coverage of China, India, Korea and
the U.S. have been analyzed.
-- The market dynamics such as growth drivers, market trends and challenges
are analyzed in-depth.
-- The competitive landscape of the market, along with the company profiles
of leading players (Robert Bosch, Saint-Gobain, the 3M Company,
Noritake, Asahi Group, Fujimi Incorporated) are also presented in
detail.
Key Topics Covered
1. Overview
1.1 Introduction
1.2 Hardness of Abrasive Materials
1.3 Types of Abrasives
1.4 Application of Abrasives
2. Global Market Analysis
2.1 Global Abrasives Market by Value
2.2 Global Abrasives Market Forecast by Value
2.3 Global Abrasives Market by Material Type
2.3.1 Global Synthetic Abrasive Market Forecast by Value
2.3.2 Global Natural Abrasive Market Forecast by Value
2.4 Global Abrasives Market by Product Type
2.4.1 Global Bonded Abrasive Market Forecast by Value
2.4.2 Global Coated Abrasive Market Forecast by Value
2.4.3 Global Super Abrasive Market Forecast by Value
2.5 Global Abrasives Market by End-Use Industry
2.5.1 Global Industrial Abrasive Market Forecast by Value
2.5.2 Global Construction Abrasive Market Forecast by Value
2.5.3 Global Metal Fabrication Abrasive Market Forecast by Value
2.5.4 Global Machinery Abrasive Market Forecast by Value
2.6 Global Abrasives Market Demand
2.7 Global Abrasives Market Demand Forecast
2.8 Global Abrasives Market by Volume
2.9 Global Abrasives Market Forecast by Volume
2.10 Global Abrasives Market by Region
3. Regional Market Analysis
3.1 Asia-Pacific
3.2 Europe
3.3 North America
3.4 Middle East
3.5 RoW
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Escalating Production of Automobiles
4.1.2 Increasing Construction Expenditures
4.1.3 Accelerating Demand for Consumer Electronics
4.1.4 Growing Urbanization
4.1.5 Rising Usage of Abrasives in the Medical Industry
4.1.6 Growing Demand for Super-Abrasives in High-Performance Applications
4.2 Key Trends and Development
4.2.1 Accelerating Deployment of Industrial Robots
4.2.2 Expanding Furniture Industry across the World
4.2.3 Rapid Development in the E-Commerce Trading Platforms
4.2.4 Increasing Application of Abrasives for Surface Cleaning
4.3 Challenges
4.3.1 Volatile Prices of Raw Material
4.3.2 Constraint of Raising High Capital Amount
4.3.3 Regulatory Framework
5. Competitive Landscape
5.1 Global Market
5.1.1 Global Bonded Abrasives Market Share by Key Players
5.1.2 Global Coated Abrasives Market Share by Key Players
5.1.3 Global Super Abrasives Market Value by Key Players
5.1.4 Key Players - R&D Comparison
5.1.5 Key Players - Revenue Comparison
5.1.6 Key Players - Market Capitalization Comparison
6. Company Profiles
6.1 Robert Bosch
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategies
6.2 Saint-Gobain
6.3 The 3M Company
6.4 Noritake
6.5 Asahi Diamond Industrial Co.
6.6 Fujimi Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/j62pek
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