Abrasives Market Estimated to Grow at a CAGR of 6.10% During Forecast Period

Posted July 30, 2016 by Rohini

Abrasives Market size is projected to grow from USD 41.21 billion in 2015 to reach USD 58.43 billion by 2021, at a projected CAGR of 6.10%.

The growth of this market is driven by the increased demand from the automotive and machinery industries globally, especially in Asia-Pacific due to urbanization and industrialization. Also, the accurate manufacturing features involving various applications (grinding, cutting, polishing, sanding, and others) of abrasives are attracting the end-use sectors significantly.

Complete report on Abrasives Market spread across 227 pages, 10 profiling companies and supported with 198 tables and 66 figures is now available at
http://www.marketreportshub.com/abrasives-industry-research-marketsandmarkets.html .
The coated sector is projected to be the fastest-growing segment on the basis of type, in the next five years. Due to the focus on rapid industrialization in emerging economies and development of the metal fabrication industry, a shift is expected towards the inclination of both, suppliers and consumers, towards abrasives. Increasing demand in welding, automotive, foundry, and jewelry industries is also expected to drive the coated abrasives market in next five years. Market participants are focusing on novel products such as wide belts, flexible belts, nonwoven fabric abrasives, seeded gel abrasives, and polyester backed abrasives. This factor is also expected to boost demand over the forecast period.
Asia-Pacific accounted for the largest share in the abrasives market in 2015, and is projected to dominate the market in 2021.The market in Asia-Pacific is projected to grow at the highest rate during the forecast period. The rise in disposable income, exceptional demand for passenger and commercial vehicles, and rise in the sales of electronic devices are driving the abrasives market. Due to the increasing consumption and production of industrial products in developing economies such as India and China, the abrasives market in these countries is projected to grow at a higher rate than the rest of the Asian-Pacific countries.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up profile of primary discussion participants is given here Tier 1 (43%); Tier 2 (33%) and Tier 3 (24%) companies were contacted for interviews. The interviews were conducted with various key people such as C-Level (40%) and Director Level (35%) and other (25%) from various key organizations. The primary interviews were conducted worldwide covering regions such as North America (40%), Europe (20%), Asia Pacific (25%) and RoW (15%).

Some of the major companies profiled in this report are Robert Bosch GMBH (Germany), 3M Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Saint-Gobain Abrasives, Inc. (France), Fujimi Incorporated (Japan), Henkel AG & CO. KGAA (Germany), Tyrolit Group (Austria), Asahi Diamond Industrial Co., LTD (Japan), Deerfos Co., Ltd (Korea), Carborundum Universal Limited (India).
Ask for a discount before order a copy of Abrasives Market by Material (Natural, Synthetic), Product (Grinding Wheel, Sandpaper, Others), Type (Bonded, Coated, Super), End-Use Industry (Automotive, Machinery, Metal Fabrication, Others) - Global Forecast to 2021 at http://www.marketreportshub.com/discount?rpid=3943 .

The report offers market estimations and projections till 2021 and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
On a related note, another research titled with Liquid Nitrogen Market by End-Use Industry (Chemicals & Pharmaceuticals), by Storage, Distribution & Transportation (Cylinder & Packaged Gas), by Function (Coolant, Refrigerant), by Production Technology (Cryogenic Distillation) - Global Forecast to 2020. Now available at http://www.marketreportshub.com/liquid-nitrogen-industry-research-marketsandmarkets.html .

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Issued By Rohini
Country India
Categories Business , Reports , Research
Tags Abrasives, material, natural,
Last Updated July 30, 2016