In a recently published report, Global Abrasives Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Abrasives Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Abrasives Market is valued approximately USD 44.98 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.91% over the forecast period 2019-2026. Abrasives are materials that are used for several applications such as honing, pressure blasting, polishing, grinding and lapping in various industries such as metal fabrication, electrical, automotive, healthcare and electronics. A variety of products that use abrasive materials are available in the market such as cut-off wheels, sand blasting, pulp tones, ball mills, sandpapers, grinding wheels and others. A wide range of applications in the metal industry creates high demand for abrasives which is responsible for the market growth. The growing metal fabrications industry increases the demand for abrasives. Colossal production of electronic components and growing automotive industry are also fueling the abrasive market. Further, decreasing cost of synthetic diamond is also driving the market forward. Moreover, the high growth potential of the emerging economies is a major factor likely to create lucrative growth opportunity to the market in the upcoming years. As these regions are witnessing rapid urbanization which is leading to increase in number of production facilities in the countries. However, fluctuating costs of raw materials and stringent government regulations are few factors anticipated to hinder the growth of global Abrasives market during the forecast period.
The regional analysis of global Abrasives Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is anticipated to exhibit highest growth rate over the forecast period 2019-2026. The rapid growth in industries such as machinery, automotive and metal fabrication create lucrative growth opportunities for the Abrasives market across the region. The increase in production and consumption of industrial products in developing economies such as India and China and also the high disposable income in the emerging economies are the factors responsible for the market growth in this region.
Major market player included in this report are:
Robert Bosch GmbH
Compagnie De Saint-Gobain S.A.
Henkel AG & Corporation
Asahi Diamond Industrial
Krebs & Riedel Schleifscheibenfabrik
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
By End-Use Industry:
Electrical & Electronics Equipment
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Abrasives Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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