The Abrasives Market to Reach Over $5 Billion by 2020

Apr 22, 2016, 08:30 ET from ReportsnReports

PUNE, India, April 22, 2016 /PRNewswire/ --

Global coated abrasives market is a red ocean market with manufacturers focusing on development of innovative coated abrasive-based products to gain a competitive edge and analysts forecasting the worldwide abrasives market to grow at a CAGR of 5.59% during the period 2016-2020.

Complete report on abrasives market spread across 73 pages, analyzing 5 major companies and providing 46 data exhibits is now available at http://www.reportsnreports.com/reports/524634-global-abrasives-market-2016-2020.html.

Garnet is increasingly replacing silica-based abrasives in many industries due to the strict regulations imposed on the use of silica abrasives. The mineral is cheaper than silica, and its round-shaped grains make it a suitable material for use in many industrial applications. This report covers the present scenario and the growth prospects of the global abrasives market for 2015-2020. To calculate the market size, the report considers revenue generated from the sales of abrasives in APAC, Europe, Americas, and rest of the world (ROW).

The APAC region dominates the global abrasives market and will generate revenues of over USD 33 billion by the end of 2020. Factors such as rapid economic development and the increase in per capita income in this region will drive the abrasives market in the region during the predicted period. Moreover, growth of this market is also fostered by the demand from the transportation and construction industries in APAC.

During 2015, the coated segment dominated the abrasives market and accounted for more than 50% of the market share. Coated abrasives are malleable in nature and are used in the form of belts, discs, and sheets. Moreover, the use of coated abrasives is high in light polishing applications in the auto ancillaries, automobile, hand and power tools, white goods, sanitary ware, furniture, fabrications, and construction industries. Factors such as the growth of global construction and manufacturing market will impel the growth prospects of this market segment in the coming years.

The global abrasives market is very competitive and also highly fragmented due to the presence of many large and small suppliers. Many new vendors are expected to enter the market owing to the increasing demand for abrasives. Vendors compete on the basis of innovation, price, quality and performance, and customer-centrism.

Key players in the global abrasives market: 3M Co., DuPont, Henkel AG & Company KGaA, Robert Bosch GmbH, and Saint-Gobain S.A. Other prominent vendors in the market are: Abrasive Technology, Allied High Tech Products, Almatis, Asahi Diamond Industrial, Cabot Microelectronics, and TYROLIT Schleifmittelwerke. Order a copy of Global Abrasives Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=524634.

Further, the abrasives market report states that raw materials such as silica, which are used in the production of abrasives, are hazardous to human health. Exposure to silica can cause asthma and lung cancers. Such health hazards have compelled the governments of many countries to place restrictions on the use of silica in the production of abrasives.

Another related report is Global Non-woven Abrasives Market 2015-2019, which forecasts the non-woven abrasives market to grow at a CAGR of 3.67% over the period 2014-2019. Key players in the global non-woven abrasives market: 3M, CAEC, DeWalt, Hermes Abrasives, KWH Mirka, Osborn, Saint Gobain, Sia Abrasives, Tyrolit and Walter Surface Technologies. Other prominent vendors in the market are: ARC ABRASIVES, Klingspor, Lippert-Unipol, Meiyiguang Non-Woven Abrasives, Pferd, Sait Abrasivi, Taiwan Resibon Abrasive Products, UNITED STAR ABRASIVES, Valgro-Fynex and Venger-Abrasives. Browse complete report @ http://www.reportsnreports.com/reports/420132-global-non-woven-abrasives-market-2015-2019.html.

Explore other new reports on Advanced Materials Market @ http://www.reportsnreports.com/market-research/advanced-material/.

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