New York, According to a new market research report published by Global Insight Services “Abrasives Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Abrasive technology is the use of abrasives to shape or finish a workpiece. Abrasives are natural or synthetic materials that are harder than the workpiece material and are used to wear away the workpiece or remove material from it. Common abrasives include alumina, silicon carbide, and diamond. Abrasive technology includes the following processes: grinding, lapping, polishing, and honing.
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Key Trends
Abrasives technology is constantly evolving to meet the needs of industries that rely on abrasives for their operations. Some of the key trends in abrasives technology include:
- The development of new and more effective abrasives.
- The development of new and more efficient ways to use abrasives.
- The development of new and more effective methods for abrasive manufacturing.
Key Drivers
The abrasives market is driven by the growing demand for abrasive products in the automotive and construction industries. The automotive industry is the largest consumer of abrasives, accounting for more than 50% of the total demand. The construction industry is the second-largest consumer of abrasives.
The abrasives market is also driven by the increasing use of abrasives in the electronics industry. The electronics industry is the third-largest consumer of abrasives. The increasing use of abrasives in the electronics industry is due to the growing demand for semiconductor devices and the increasing use of abrasives in the manufacturing of these devices.
Market Segments
By Product
- Bonded
- Coated
- Others
By Application
- Automotive & Transportation
- Heavy Machinery
- Metal Fabrication
- Electrical & Electronics Equipment
- Others
Key Players
- 3M
- Saint-Gobain
- Robert Bosch
- Dyson
- Sia Abrasives
- Klingspor
- Norton Abrasives
- Hitachi Koki
- Makita
- Metabo
- Fein
- Black & Decker
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Reasons to buy Abrasives Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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