Global Abrasives Market (2021 to 2027) - Featuring 3M, Flexovit and Fujimi Among Others - ResearchAndMarkets.com | Business Wire

2021-12-30 02:40:06 By : Ms. Devon zhu

DUBLIN--(BUSINESS WIRE )--The "Abrasives Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The global abrasives market is anticipated to grow considerably at a CAGR of 3.8% during the forecast period (2021-2027).

The growing demand for abrasives in machinery & metal fabrication industries in developing economies owing to rapid industrialization is a key factor driving the growth of the global abrasives market. The growing market for electric vehicles is further contributing to the market growth owing to the high utility of abrasives in the finishing of metal parts of electric vehicles. Some raw materials that are used to manufacture abrasives are highly toxic in nature hence their usage is banned in some country. The growing R&D in the field of developing sustainable material to manufacture abrasives is likely to offer immense opportunity to the growth of the global abrasives market.

The report on global abrasives market covers segments including raw material, product type, and application. Based on raw material, the global abrasives market is segmented into natural abrasives and synthetic abrasives. Based on product type, the market is segmented into bonded abrasives, coated abrasives, and super abrasives. Based on end-user industry, the market is segmented into automotive, machinery, aerospace, metal fabrication, electrical & electronics equipment, and other.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is anticipated to exhibit considerable growth in the global abrasives market. The growing product demand from the automotive and aerospace & defense industries across the US are a key factor creating demand for abrasives market. The significant growth in the metal fabrication industries across the region is expected to offer growth opportunities to the product manufacturers. For instance, in July 2020, Sargent Metal Fabricators Inc. has invested $9.5 million in its production plant to expand operations in South Carolina, the US to cater to the growing customer demand.

2.3. Analyst Insight & Current Market Trends

3.2. Impact of COVID on key players

5.1. Global Abrasives Market by Raw Material

5.2. Global Abrasives Market by Product Type

5.3. Global Abrasives Market by End-User Industry

For more information about this report visit https://www.researchandmarkets.com/r/vvihkp

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900