Coated Abrasives Market is Grow at CAGR of 7.5% by 2022
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Coated Abrasives Market is Expected to Grow at a CAGR of 7.4% from 2016 to 2022 | Coated Abrasives Market --
Coated abrasives are used to grind, scour, clean or remove solid materials by rubbing action or by impact using equipment's. Coated Abrasive market is expected to grow at rapid pace owing to its growing applications such as auto OEMs, fabrication, furniture, flooring etc.
Coated Abrasives are manufactured from synthetic or natural grain minerals such as aluminum oxide, silicon carbide, zirconia alumina and ceramic. These grain minerals are supported by backing materials such as paper, cloth, fiber, polyester film, others. These materials are then transformed into jumbo rolls which are then cut down into shapes such as discs, sheets, belts and rolls for smoothening, polishing and surface treatment application. Coated Abrasives market is set for intensifying growth in automotive, fabrication, jewelry applications and is expected to grow at CAGR of ~7.4% between 2016-2022
Rise in demand for coated abrasives in welding, foundry, automotive industry is anticipated to propel the demand for coated abrasives market in coming years. The use of coated abrasive in order to improve the surface finish along with high productivity is driving the coated abrasive market growth. Owing to superior properties, industrial abrasive users are considering coated abrasive as a better option over conventional abrasives.
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o Saint-Gobain S.A. (Europe),
o DuPont (Germany),
o Robert Bosch GmbH (Germany),
o 3Mm (U.S),
o Cabot Microelectronics Corp (U.S),
o Hermes Schleifmittel GmbH (Germany),
o Henkel AG & Co. KGaA (Germany),
o Asahi Diamond Industrial Co. Ltd. (Japan),
o VSM Abrasive AG (Germany),
o Carborundum Universal Ltd (India)
On Basis of grain type,
o aluminum oxide,
o silicon carbide,
o zirconia alumina,
On Basis of backing material
o polyester film,
On Basis of end user industry
o metal fabrication,
o consumer goods,
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o The APAC region Coated Abrasives market is expected to grow due to rapid industrializations, favorable government regulations and increase in per captia income. The rapid growth of end user industry such as automotive, fabrication and transportation in China, India and Japan is anticipated to drive the Asia-Pacific market for coated abrasives in coming years. Major players are also targeting developing regions in order to maximize the profit and meet the growing demand in those regions.
o North America witnessed a significant growth owing to being prominent player of automobile sector and consumer appliances. After economic downturn, the government is focusing more on non-woven fabric which significantly increase the product demand in this region.
o European debt crisis has affected many industries like construction, automobile and appliances. Due to this key player has reluctant to invest in these regions. This has led slow growth of product in European market.
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Name: Akash Anand
Organization: Market Research future
Source URL: http://marketersmedia.com/coated-abrasives-market-is-grow-at-cagr-of-7-5-by-2022/204265
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Release ID: 204265
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