The global abrasives market was valued at USD 37.30 Billion in 2016, and is projected to reach USD 52.67 Billion by 2022, at a CAGR of 6.03%.
According to MarketIntelReports' “Global Coated Abrasive Market Research Report- Forecast to 2022”:
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The coated abrasives are used in applications like grinding, cleaning, abrading, and even imparts shape and finish. They are also known as flexible abrasives which have a backing material of cloth, paper or polyester.
The abrasive paper in used in transportation, machinery, and metal fabrication sectors. Growing demand for strong tools for applications like cutting, sharpening, and grinding boosts the Coated Abrasive Market.
The abrasive grain has three elements namely abrasive grains, flexible or semi rigid packing and an adhesive that binds the grains to the backing. Abrasive grains have silicon carbide, garnet, aluminium oxide, and zirconia alumina.
Scope & Regional Forecast of the Coated Abrasive Market
Asia Pacific dominates the Coated Abrasive Market due to the increasing demand for industrial abrasives in India and China. Growth of fabrication, automotive, and machinery industries propel the demand for the Coated Abrasive Market.
North America will have a slow growth while Europe may have a stagnant growth in next seven years.
Changes in raw materials may affect the growth of the abrasive products during the forecast period. Industry participants may modernize conventional machinery to increase level of automation for improving the quality of the product.
R&D activities are carried out to develop new products. These factors will definitely benefit the market in the long run.
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Abrasive machining is used in cleaning, giving shape, abrading, and grinding. It is even used in consumer goods, prosthetics, and implants.
Abrasive cutting tools are also used in blending, polishing, and dimensioning. This enhances the demand for the market in the coming years.
Segmentations & Key Players Involved in the Coated Abrasive Market
The Coated Abrasive Market can be broken down into various segments as follows:
- Product Type- Aluminium Oxide, Silicon Carbide, Zirconia Alumina, Ceramic Alumina, Emery and Garnet.
- Application- Metalworking, Woodworking, Automotive, Electronics & Semiconductors, Aerospace & Defense, and Others.
- Region- North America, Europe, Asia Pacific, and Latin America.
Some of the key players involved in the Coated Abrasive Market are as follows:
- Hermes Schleifmittel
- KWH Group
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