Market Analysis: —
Global Coated Abrasives Market is predicted to touch USD 14,671.2 million at a 6.3% CAGR between 2016- 2022, as per the recent report by Market Research Future (MRFR). Coated Abrasives are utilized for grinding, scouring, cleaning, or removing solid materials by impact or rubbing action using equipment. It is manufactured using synthetic/natural grain minerals like ceramic, zirconia alumina, silicon carbide, and aluminium oxide. Owing to its alluring features, coated abrasives have wide applications in flooring, furniture, fabrication, OEMs, and others.
Various factors are adding to the Global Coated Abrasives Market Growth. According to the new MRFR report, such factors include the burgeoning demand for advanced abrasive products in the electronics and semiconductor industry, an increase in automotive production, significant investment in Coated Abrasives in the metalworking industry, and rising demand for versatile applications from the metalworking industry.
On the contrary, fluctuations in raw material cost may impede the Global Coated Abrasives Market over the forecast period.
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COVID-19 Analysis/COVID-19 Impact on Coated Abrasives Market:
The COVID-19 pandemic has largely impacted the Coated Abrasives Market. The shortage of raw material from Chinese manufacturers has led to a severe gap in demand and supply. The manufacturers are predicted to be stranded with regards to raw material orders for the logistics industry being affected significantly following the lockdown due to the novel coronavirus. The producers, however, are likely to shift from China to cut down the risk in the future, which may impact the business and also reduce the cluster of manufacturers in one sole country for the smooth flow of supply chain.
The MRFR report offers an inclusive segmental analysis of the Global Coated Abrasives Market Report based on Applications and Types.
Based on Types, Global Coated Abrasives Market is segmented into garnet, emery, ceramic alumina, zirconia alumina, silicon carbide, and aluminium oxide. Of these, silicon carbide & aluminium oxide will lead the market over the forecast period.
Based on Applications, Global Coated Abrasives Market is segmented into aerospace and defense, electronics and semiconductors, automotive, woodworking, metalworking, and others. Of these, metalworking will dominate the market over the forecast period.
Eminent Players Profiled in the Global Coated Abrasives Market Report include Fandeli International Corporation, Hermes Schleifmittel GmbH, Napoleon Abrasives S.p.a, VSM Abrasives Corporation, DowDuPont, Inc., DEERFOS Co., Ltd., Schaffner Manufacturing Company, Inc., Jason Incorporated, Cabot Microelectronics Corporation, Asahi Diamond Industrial Co., Ltd, TYROLIT group, Fujimi Incorporated, Robert Bosch GmbH, sia Abrasives Industries AG, 3M, Carborundum Universal Limited, and Saint-Gobain Abrasives, Inc.
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Based on the Region, Global Coated Abrasives Market Report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), Latin America, and Middle East Africa (MEA). Of these, the APAC region will dominate the market over the forecast period. Expansion of key Coated Abrasives producers in the region such as 3M and Saint-Gobain and rising concentration of end-user industries for Coated Abrasives are adding to the growth of the market in the region.
Global Coated Abrasives Market in Europe is predicted to hold the second-largest share over the forecast period. Burgeoning demand for maintenance and cleaning of automobiles, surging demand for coated and bonded abrasives for precision grinding processes, and ongoing construction projects in Western European countries, Poland, and Russia, are adding to the growth of the market in the region. Besides, the presence of the automobile production hub in this region is also adding market growth.
Global Coated Abrasives Market in North America is predicted to have healthy growth over the forecast period. Advances in machine part manufacturing & precision tooling coupled with technological development, are adding to the growth of the market in the region.
Global Coated Abrasives Market in the MEA is predicted to have sound growth over the forecast period. Prevailing industry bifurcation trend to the non-oil manufacturing industry and new construction activities are adding to the coated abrasives market growth in the region.
COVID-19 Study in Detail:
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COVID-19 Outbreak Impact on Renewable Chemicals Market @ https://www.marketresearchfuture.com/report/covid-19-impact-renewable-chemicals-market
NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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