Market Overview:
Coated Abrasives are extensively used in fabrication, auto ancillaries, general engineering, furniture, auto OEM, and flooring and are predicted to garner significant prominence due to the rapid expansion in end use industries. Users of industry abrasive prefer coated abrasives over other ones, mainly due to the benefits they offer like surface finishes with high productivity. The Global Coated Abrasives Market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 6.3% during the forecast period (2017-2022).
High productivity offered by coated abrasive systems is likely to foster the demand for Coated Abrasive products. Manufacturers of cutting tools are developing and designing machines and equipment, which are ideal for Coated Abrasive systems due to the increasing popularity of coated abrasives. Manufacturers of Coated Abrasive products are highly focusing on introducing products like flexible belts, nonwoven fabric abrasives, polyester backed abrasives, seeded gel abrasives, and wide belts. These recent developments are likely to offer lucrative opportunities for the manufacturers of Coated Abrasives globally. Moreover, the surging demand for semi-friable aluminum oxide-based Coating Abrasives, especially from emerging nations like China will propel the market growth in the coming years.
On the contrary, fluctuations in the prices of raw materials are expected to vitiate the market growth in the foreseeable future. Also, underdeveloped testing and quality control equipment will retard the market growth across the globe. Less efficient firing systems and high consumption of energy are predicted to pose a negative impact on the market’s growth.
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Competitive Dashboard:
The Top Players Operating in the Coated Abrasives Market include Carborundum Universal Limited, Saint-Gobain Abrasives, Inc, sia Abrasives Industries AG, 3M, Fujimi Incorporated, Robert Bosch GmbH, Asahi Diamond Industrial Co., Ltd, Jason Incorporated, Cabot Microelectronics Corporation, DEERFOS Co., Ltd., Schaffner Manufacturing Company, Inc., VSM Abrasives Corporation, DowDuPont, Inc., Hermes Schleifmittel GmbH, Napoleon Abrasives S.p.a, Fandeli International Corporation, and Sungold Abrasives.
Global Coated Abrasives Market: Segmental Analysis
The Coated Abrasives Market has been segmented on the basis of Type and Application.
Based on the Type, the market constitutes of silicon carbide, aluminium oxide, zirconia aluminium oxide, garnet, ceramic aluminium oxide, and emery.
The Application Segment comprises woodworking, metalworking, electronics & semiconductors, automotive, aerospace & defense, and others. Of these, the automotive segment is predicted to gain prominence, mainly due to the surging disposable income in developing economies, which has resulted in an increased demand for commercial and passenger vehicles. Moreover, Abrasives are required for efficient finishing of automobiles, for deburring, sizing engine parts, repairing and maintaining the body, accessories, and interiors of the automobile. They are also used to clean the interior of pipes, to smooth out welds, and smoothen out rough and uneven surfaces and edges. Such factors have spurred the demand for the market in the automotive segment.
Regional Frontiers:
Based on the Region, the Coated Abrasives Market covers growth opportunities and latest trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Considering the Global Scenario, the Asia Pacific is considered to acquire the lion’s share globally. The booming automotive industry is predicted to benefit the expansion of the market. APAC is likely to garner a CAGR of 6.90% by the end of 2022. Rapid industrialization and the presence of several producers, economical labor costs, and rising exports are promoting the regional market’s growth.
Europe has managed to seize the second largest share due to the presence of countries like France, Germany, and the U.K. These countries are likely to control the market share with striking growth rates, mainly due to the presence of prominent automotive producers. However, saturation and economic slowdown can restrain the market growth in the region.
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