Abrasives Market (Natural, Synthetic) to Hit 6.1% CAGR to 2021 Led by Coated Sector
PUNE, India, June 7, 2016 /PRNewswire/ --
Global abrasives market size is forecast to reach $58.43 billion by 2021, at a projected CAGR of 6.1% and the overall market is dominated by coated sector which is estimated to grow at the highest rate during the forecast period driven by increasing demand in welding, automotive, foundry and jewelry industries.
Complete report on global abrasives market spread across 227 pages, profiling 10 companies and supported with 198 tables and 66 figures is now available at http://www.marketreportshub.com/abrasives-industry-research-marketsandmarkets.html .
The growth of this market is driven by the increased demand from the automotive and machinery industries globally, especially in Asia-Pacific due to urbanization and industrialization. Also, the accurate manufacturing features involving various applications (grinding, cutting, polishing, sanding, and others) of abrasives are attracting the end-use sectors significantly. With the emergence of new technologies, contractors and consumers are looking for advanced and accurate manufacturing, which are driving market for abrasives globally.
The coated sector is projected to be the fastest-growing segment on the basis of type, in the next five years. Due to the focus on rapid industrialization in emerging economies and development of the metal fabrication industry, a shift is expected towards the inclination of both, suppliers and consumers, towards abrasives. Increasing demand in welding, automotive, foundry, and jewelry industries is also expected to drive the coated abrasives market in next five years. Market participants are focusing on novel products such as wide belts, flexible belts, nonwoven fabric abrasives, seeded gel abrasives, and polyester backed abrasives. This factor is also expected to boost demand over the forecast period.
Asia-Pacific accounted for the largest share in the abrasives market in 2015, and is projected to dominate the market in 2021.The market in Asia-Pacific is projected to grow at the highest rate during the forecast period. The rise in disposable income, exceptional demand for passenger and commercial vehicles, and rise in the sales of electronic devices are driving the abrasives market. Due to the increasing consumption and production of industrial products in developing economies such as India and China, the abrasives market in these countries is projected to grow at a higher rate than the rest of the Asian-Pacific countries.
The various abrasive companies profiled in this report such as Robert Bosch GMBH (Germany), 3M Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), Saint-Gobain Abrasives, Inc. (France), Fujimi Incorporated (Japan), Henkel AG & CO. KGAA (Germany), Tyrolit Group (Austria), Asahi Diamond Industrial Co., LTD (Japan) , Deerfos Co., Ltd (Korea) and Carborundum Universal Limited (India). Order a copy of Abrasives Market by Material (Natural, Synthetic), Product (Grinding Wheel, Sandpaper, Others), Type (Bonded, Coated, Super), End-Use Industry (Automotive, Machinery, Metal Fabrication, Others) - Global Forecast to 2021 research report available at http://www.marketreportshub.com/purchase?rpid=3943 .
To determine the market size of various segments and sub-segments of the abrasives market, extensive secondary research is done. In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (43%), Tier 2 (33%) and Tier 3 (24%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (40%), Manager Level (35%) and others (25%) from various key organizations operating in the global abrasives market. The primary interviews were conducted worldwide covering regions such as North America (40%), Europe (40%), and APAC (20%).
On a related note, another research on Adhesion Promoter Market Global Forecast to 2021 says, the global adhesion promoters market is projected to grow at a CAGR of 6.4% between 2016 and 2021. Plastics & composites application segment is to grow at the highest CAGR during the forecast period. Asia-Pacific is the largest regional segment in the adhesion promoters market. The research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. Momentive Performance Materials Inc., Eastman Chemical Company, Dow Corning Corporation, BASF SE, Arkema SA, Evonik Industries AG, ALTANA AG, Air Products and Chemicals, Inc., E. I. du Pont de Nemours and Company and AkzoNobel NV have been profiled in this 178 pages research report available at http://www.marketreportshub.com/adhesion-promoter-industry-research-marketsandmarkets.html .
Explore more reports on Materials & Chemicals market at http://www.rnrmarketresearch.com/reports/materials-chemicals/chemicals .
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