Market Scenario:
Abrasive can be defined as substance used for giving shape to any hard material by rubbing the material against the abrasives. Abrasives are divided into three main categories, bonded abrasives, coated abrasives, and super abrasives. Coated Abrasives are abrasives, which consist of an abrasive grain fixed into a backing material or substrate generally made of paper, cloth, vulcanized rubber, and polyester film. The most commonly used coated abrasives grains are aluminium oxide, silicon carbide, zirconia alumina, ceramic alumina, garnet, and emery. Coated Abrasives are available in different product forms such as belts, rolls, discs and wheels.
The Global Coated Abrasives Market accounts for more than one-third share of the multibillion abrasives industry, with application across an array of industries such as, metal works, wood works, and automotive among others. Some of the significant factors identified in the market fuelling growth includes, significant spending on abrasives in the metalworking industry, rebound in the automotive sales, thus, augmented demand for Coated Abrasives among automotive OEMs for applications such as, cutting, grinding and polishing. Growth in furniture industry coupled with regained stability of housing market in developed markets and increasing construction activities in developing market to augment demand for Coated Abrasives globally. The Global Coated Abrasives Market is foreseen to grow substantially during the forecast period. According to MRFR analysis, the Global Coated Abrasives Market was valued at USD 10,233.3 million in 2016 and is expected to be valued at USD 14,671.2 million by the end of 2022, expanding at a CAGR of 6.3%.
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Market Segmentation:
Global Coated Abrasives Market is segmented on the basis of types and applications. On the basis of types, the market is segmented into –– Aluminium Oxide, Silicon Carbide, Zirconia Alumina, Ceramic Alumina, Emery, and Garnet of which aluminium oxide and silicon carbide accounts for significant market shares in the Global Coated Abrasives Market. On the basis of applications, the market is segmented into –– Metalworking, Woodworking, Automotive, Electronics & Semiconductors, Aerospace & Defense, and others. Metalworking segment accounts for the largest market share among all the applications.
Regional Analysis of Global Coated Abrasives Market:
Based on Geographies, the Global Coated Abrasives Market is divided into five regions viz., North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among the regions, Asia-Pacific is the dominating market for coated abrasives, owing to the increasing concentration of coated abrasive end-user industry in the region along with expansion of coated abrasive manufactures in the Asia-Pacific region. Asia-Pacific market is followed by Europe and North America. However, in the coming years Middle-East & Africa market will open lucrative opportunities for Coated Abrasives.
The report for Global Coated Abrasives market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different markets segments and regions.
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