Coated Abrasives Market Poised to Grow from USD 10,233.3 Million in 2016 to USD 14,671.2 Million by 2022

August 24 07:43 2017

Coated Abrasives Market
Global Coated Abrasives Market Information, By Types (Aluminium Oxide, Silicon Carbide, Zirconia Alumina, Ceramic Alumina, Emery and Garnet), By Application (Metalworking, Woodworking, Automotive, Electronics & Semiconductors, Aerospace & Defense, and Others), and by Region – Forecast till 2022

Market Research Future has a Cooked Research Report on Global Coated Abrasives Market Trends & Forecast 2016 to 2022. Global Coated Abrasives Market was valued at USD 10,233.3 million in 2016 and is expected to be valued at USD 14,671.2 million by the end of 2022, expanding at a CAGR of 6.3%.

Market Highlights:

Coated abrasives are abrasives, which consist of an abrasive grain fixed into a backing material or substrate generally made of paper, cloth, vulcanized rubber, and polyester film. The most commonly used coated abrasives grains are aluminium oxide, silicon carbide, zirconia alumina, ceramic alumina, garnet, and emery. Coated abrasives are available in different product forms such as belts, rolls, discs and wheels. Some of the prominent growth factors identified for coated abrasive market includes, augmented demand from metalworking industry for versatile applications coupled with significant spending on abrasives in the metalworking industry, surge in automotive production, and demand for innovative abrasive products in electronics & semiconductor.

Key Players in Market:

MRFR recognize the key players in the Global Coated Abrasives Market as Saint-Gobain, 3M, CUMI, Sia Abrasives AG, KLINGSPOR, Hermes Schleifmittel GmbH, and VSM AG among others .This report includes the product portfolios of the same.    

Segment Analysis:

Global coated abrasives market is segmented on the basis of types and applications. On the basis of types, the market is segmented into –– Aluminium Oxide, Silicon Carbide, Zirconia Alumina, Ceramic Alumina, Emery, and Garnet of which aluminium oxide and silicon carbide accounts for significant market shares in the global coated abrasives market. On the basis of applications, the market is segmented into –– Metalworking, Woodworking, Automotive, Electronics & Semiconductors, Aerospace & Defense, and others. Metalworking segment accounts for the largest market share among all the applications.

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Traditionally, natural abrasive grains such as emery and garnet were used, however, with rapid industrial growth the demand for superior quality abrasives also increased, thus, synthetic abrasive grains such as aluminium oxide, silicon carbide, and zirconia alumina among other synthetic abrasive grains came into existence. Synthetic coated abrasives have numerous advantages over the traditionally used coated abrasives such as, durability, strength and productivity among others. Thus, owing to the advantages of synthetic coated abrasives and the increasing demand for innovative products from the end-use industries. As per analysis, aluminium oxide and silicon carbide accounts for more than half of the value share in the global coated abrasives market. Collectively, these segments account for nearly 70% of the value share in the total revenue generated by coated abrasives market.

Based on the applications segment, the metalworking and woodworking segment is estimated to be the dominating segments throughout the forecast period, owing to the significant spending on abrasives in the metalworking industry coupled with its increasing consumption in versatile metalworking applications. On the plus side the furniture market growth and rebound in construction activities across the developed market and rapid urbanization in the developing market has been bolstering factor for woodworking industry, which in turn is increasing the consumption of coated abrasives in the woodworking industry. Apart from the above mentioned applications, consumption of coated abrasives in the automotive and electronic & semiconductor industries will witness healthy growth with an increasing production of automotive coupled with increasing demand for innovative abrasive products in the electronic & semiconductor industry.

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Asia Pacific has Dominated Coated Abrasives Market in 2016:

As per MRFR analysis Asia Pacific dominated the global coated abrasives market and has accounted for the largest share of the market in 2016. Asia Pacific market is followed by Europe and North America. Moreover, Asia Pacific coated abrasives market will witness considerable growth during the forecast period with increasing concentration of end-user industries for coated abrasives in the region coupled with expansion of major producers of coated abrasives in the region such as, Saint-Gobain and 3M. In terms of value and volume, Asia-Pacific market is projected to exhibit CAGRs of 6.9% and 5.7% respectively. Over the forecast period, Middle East & Africa is anticipated to offer lucrative opportunities for coated abrasives, owing to the new construction activities in the region and prevailing trend of industry bifurcation to non-oil manufacturing sectors, with respect to declining crude oil prices.

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