Abrasives Market is poised to mature at a CAGR of around 6.06% By - 2030

Pune, India, September, 2019 /press release/- Market Research Future Published a Cooked Research Report on Global Abrasives Market.

Abrasives Market Highlight 

The global abrasives market, during the forecast period 2022 - 2030, will register growth at a CAGR of 6.06%. The market for abrasives is set to reach a high value by 2030. As per abrasive market analysts, the global market is anticipated to witness growth owing to the factors such as the growing automotive industry as well as rising modernization and urbanization. However, the abrasives market will face challenges and restraints due to fluctuations in raw material prices and laws restricting the use of silica abrasives during the forecast period 2022 - 2030. 

Growing adoption from the furniture and interior industry in the market is set to play a key role in determining the growth potential during 2022 -2030 years. Analysts have also studied the market to understand potential threats and challenges the market companies could face. Although the abrasives market is poised to grow at a fast pace across source, material, type, and applications segments, factors such as volatile price of raw materials could slow down the market's growth worldwide. 

Market Segmentation 

The abrasives market has been segmented into source, material, type, and applications. Based on the segment which is source, the market is categorized on the basis of natural and synthetic. The global market for abrasives is further segmented based on material into aluminium oxide, boron carbide, corundum, emery, silicon carbide, and others. Furthermore, the market, on the basis of type is segmented into bonded, coated, super, and others. Based on the segment which is applications, the market is categorized on the basis of automotive, construction, electrical & electronics, machinery, metalworking, and others.  

The global abrasives market research report covers all the aspects of the market based on the segmental analysis of these source, material, type, and applications segments. Analysts have also studied the global market's regional markets spread across many continents and countries. The source, material, type, and applications segments along with their sub-segments have been analyzed and companies functioning in the market across these segments are profiled and analyzed based on input and feedback from market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the market. 

Regional Overview 

Strict government regulations may hinder the market growth. The market research report suggests that companies in the market could be supported by continued growth of furniture and interior markets as well as growing adoption from the automotive industry during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global abrasives market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for abrasives during the forecast period 2017-2025. As per market analysts, the market is set to witness tremendous growth across source, material, type, and applications segments in North America which covers markets across the United States, Canada, Mexico and several other regional markets. Companies active in the market are also analyzed and studied in the market research report. 

The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the market research report covers the Asia-Pacific region covering markets from India, China, Japan, Australia, and others. The market is also spread across the rest of the world. The market report covers all such regions including the Middle East, Africa, Brazil, and others. 

Competitive Landscape 

Abrasives have seen increased demand over the years, due to demand for edge finishing and high consumption of abrasive furniture and the growing metal manufacturing industry. Companies functioning in the global abrasives market are also being challenged due to raw material related problems and weak supply chain. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2022 - 2030. As the market is set to register a high CAGR of 6.06% and is also anticipated to reach a high value, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2025. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2022 - 2030.  

Industry News 

RPM International Inc. recently announced its acquisition of Ali Industries, a pioneering sandpaper as well as other abrasives from its Rust-Oleum business. RPM International Inc. Ali Industries has an annual net turnover of around $75 million. Transaction terms have not been revealed. Ali Industries is an industry-leading innovator that provides power sanding, manual sanding, cutting, grinding and floor sanding finalising materials, as well as a market leader in the marketplace. Its materials, including wood, metal and colours, have been used for many surfaces.

Read More About This Report: abrasives market share