SHERIDAN, ALABAMA, UNITED STATES, February 18, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Abrasives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global abrasives market reached a value of US$ 48 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of 4.5% during 2021-2026. Abrasives refer to materials that are used in a wide range of industrial, domestic, and technological applications to shape, polish, grind, clean, or finish a workpiece. These include natural abrasives, such as corundum, garnet, emery, and pumice, as well as synthetic abrasives, such as silicon carbide, synthetic diamond, and alumina.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Abrasives Market Trends:
The global market is primarily driven by significant growth in the automotive industry worldwide. This, in confluence with the increasing demand for commercial as well as passenger vehicles, is significantly contributing to the market growth. Apart from this, growing investments in R&D activities to produce innovative and less hazardous abrasives are creating a positive outlook for the market. Furthermore, the increasing demand for coated abrasives by end-use industries is catalyzing market growth. Additionally, the increasing demand for bonded abrasives, including grinding wheels, snagging wheels, and mounted wheels, due to their high efficiency and enhanced operational capability is also providing an impetus to the market growth.
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Key Market Segmentation:
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market with some of the key players being:
Robert Bosch GmbH
Compagnie De Saint-Gobain S.A.
Asahi Diamond Industrial
Nippon Resibon Corporation
Krebs & Riedel
Market Breakup by Product Type:
Market Breakup by End-Use:
Market Breakup by Material Type:
Market Breakup by Region:
Middle East and Africa
Key highlights of the Report:
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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