According to the latest report by IMARC Group, titled “Abrasives Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global abrasives market reached a value of US$ 43.5 Billion in 2019. Abrasives are materials that are utilized in the grinding, polishing, lapping and honing of metals, leatherwood and stones. They are also utilized in ultrasonic machining, abrasive jet machining and magnetic field-assisted polishing. They are generally available in the form of bonded abrasives, coated abrasives, and loose abrasives such as polishes. Consequently, they are gaining traction among various end users around the world.
Some of the key players being Fujimi Inc TYO: (5384), COMPAGNIE DE ST/ADR OTCMKTS: (CODYY), HENKEL AG & CO /S ADR OTCMKTS: (HENKY), Robert Bosch GmbH, Dowdupont, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos, Sankyo-Rikagaku, etc.
Request Free Sample Report: https://www.imarcgroup.com/abrasives-market/requestsample
Abrasives are used in the manufacturing of automotive components and modifying operating parameters, such as lowering noise levels and reducing carbon dioxide emissions, of high-performance engines. This, along with the boosting sales of automobiles, represents one of the key factors driving the global abrasives market growth. Apart from this, abrasives are utilized for manufacturing different parts of airplanes, ships, machine tools, and mechanical and electrical appliances. Furthermore, the rising construction activities worldwide, along with the escalating demand for electronics, are expected to strengthen the market growth in the coming years. Looking forward, IMARC Group expects the market to reach a value of US$ 59.7 Billion by 2025, registering a CAGR of 5.4% during 2020-2025.
Market Breakup by Product Type:
- Bonded Abrasives
- Coated Abrasives
- Super-abrasives
- Others
- Machinery
- Metal Fabrication
- Electronics
- Others
- Natural Abrasives
- Synthetic Abrasives
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