According to Market Research Future (MRFR), Global Coated Abrasives Market is estimated to capture a compound annual growth rate of 6.3% from 2017-2022 (forecast period). The report offers an overview of the market opportunities and market consequences that arose as a result of the COVID-19 pandemic. The detailed study report focuses on the positive and negative impacts of COVID-19 with new product releases, supply chain overview, government regulations, and strategies adopted by major market players.
Coated Abrasive continues to be an effective industrial tool. Industries such as metalworking, aerospace &defense, woodworking, automotive and electronics & semiconductor are some of the main end-users of coated abrasives. The high-performance potential of the Coated Abrasive allows its use in metal and alloy molding processes. In addition, the lately improved performance of the global manufacturing sector has also given rise to market growth. The current outlook for the Coated Abrasive Industry remains optimistic, with a minimum deviation anticipated during the projected period.
Some of the Leading Players identified by MRFR in the Global Coated Abrasives Market are Saint-Gobain Abrasives, Inc, Carborundum Universal Limited, 3M, sia Abrasives Industries AG, Robert Bosch GmbH, Fujimi Incorporated, TYROLIT group, Asahi Diamond Industrial Co., Ltd, Cabot Microelectronics Corporation, Jason Incorporated, Schaffner Manufacturing Company, Inc., DEERFOS Co., Ltd., DowDuPont, Inc., VSM Abrasives Corporation, Napoleon Abrasives S.p.a, Hermes Schleifmittel GmbH, Sungold Abrasives, and Fandeli International Corporation.
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Semiconductor manufacturing growth is seen as a critical pillar of growth for the market. The IoT explosion has given a boost to the semiconductor industry, with most of the modern electronic devices made up of semiconductors. Countries like China, Japan, and Taiwan are flag-bearers of semiconductor manufacturing, accounting for a large share of global output, making them significant manufacturers of Coated Abrasives. Throughout the evaluation period, emerging markets are estimated to remain the primary investment destination for market players as a result of the ongoing industrial boom.
The Global Market for Coated Abrasive has been segmented based on Type and Application.
On the basis of Type, the Global Market for Coated Abrasive has been segmented into aluminum oxide, silicon carbide, zirconia aluminum oxide, ceramic aluminum oxide, garnet, and emery.
On the basis of Application, the Global Market for Coated Abrasive has been segmented into metalworking, aerospace & defense, woodworking, automotive, electronics & semiconductors, and others.
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On the basis of the Region, the Global Market for Coated Abrasive has been classified into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
The Asia Pacific is the largest regional market for Coated Abrasive products, accounting for almost half of the global market. Rising demand from developing nations in Asia, particularly China and India, is expected to fuel demand for Coated Abrasive in the Asia Pacific market. Rapid growth in industries such as automotive, machinery, and manufacturing in Asia is expected to drive the Asia Pacific demand for Coated Abrasive in the next six years. The Asia Pacific is followed by North America and Europe on the Global Abrasive Market. The economic recession and saturation in North America and Europe are restricting the growth of the Coated Abrasive Industry. Nevertheless, both regions are slowly emerging from the economic downturn and are expected to see healthy growth in the Coated Abrasive Market in the near future.
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