In its latest report, ESOMAR-certified market research firm Future Market Insights offers an extensive study on the market for Abrasives. FMI provides a new study to elucidate the potential growth parameters of the Abrasives market. On the back of prevailing trends FMI presents a positive growth outlook.
The report is intended to present an unbiased analysis. It therefore offers incisive coverage on key market dynamics, including drivers, restraints, opportunities, and challenges. It also offers detailed information on Abrasives market structure. FMI’s in-house team for chemicals & materials sector gives valuable insights, validated with latest data. The report also gives access to extensive database that tracks existing and upcoming chemicals & materials trends and innovation in 100+ countries.
FMI’s latest report on global Abrasives market provides analysis on regulatory landscape and profitable epidemiology. The study also tracks global sales of primary Abrasives in 20+ high-growth markets, along with the detailed coverage of the impact COVID-19 had on the Abrasives market.
In the last couple of years, chemicals & materials industry has witnessed considerable technological advancements across various sectors. Coupled with this, increasing research and development activities following the outbreak of COVID-19 have had a positive impact on the overall growth.
With the development in petroleum & oil and gas companies and R&D activities, the market has witnessed a healthy expansion. FMI’s latest report offers significant details about the latest trend and challenges that the Abrasives market is expected to witness in the upcoming decade.
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Impact of COVID-19 on Abrasives Market
The pandemic has placed an enormous strain on the chemicals & materials industry including its workforce, supply-chain, infrastructure, and market players. The first wave of COVID-19 that hit the regions across the globe, compelled the chemicals & materials industry to adapt and develop its infrastructure and innovate in a short period of time. Against this backdrop, FMI tracks the changes, improvement, profits and losses in the industry among the existing players as well as the new entrants within the industry.
The FMI’s recently published report presents detailed insights into the impact of COVID-19 on the Abrasives market and innovative strategies adopted by the market players to tackle the challenges encountered due to the pandemic.
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Important Questions Answered in the Abrasives Market Report
- How will the Abrasives market expand through 2031?
- Which region is the most lucrative in the Abrasives market?
- What are the recent technological developments in the Abrasives market?
- What are key challenges and competition threats faced by Abrasives market players?
- Who are prominent players leading the Abrasives market?
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Abrasives Market: Key Segmentation
On the basis of product type, global abrasives market is segmented as coated abrasives, steel abrasives, loose abrasive grains, raw super abrasives, bonded abrasives and others. As of 2013, amongst the product type segments bonded abrasives segment is predominant in terms of market share followed by coated abrasives and loose abrasive grains.
The bonded abrasives market segment market is expected to maintain its dominant position during the forecast period. Whereas, in terms of revenue; super abrasives is the fastest growing segment in global abrasives market with a double digit CAGR.
Due to rising demand of loose abrasive grains from abrasive product manufacturers, the loose grain segment is estimated to record strong growth during the forecast period in the abrasives market. As of 2013, use of abrasives in machinery is the predominant industry for abrasives. This is followed by metal fabrication, transportation and electronic equipment. However, industries such as transportation and electronic equipment are estimated to record robust growth due to higher demand for automobiles and electronic appliances. Apart from this use of abrasives in construction, cleaning, maintenance, power generation and medical devices are expected to rise significantly in the coming years thus driving demand in global abrasives market.
Abrasives Market: Competitive Evaluation
- I. du Pont de Nemours and Company, Robert Bosch GmbH, Cabot Microelectronics Corporation, Saint Gobain S.A, Tyrolit Schleifmittelewerke Swaroski K.G, Fugimi Incorporated, and Jason Incorporated are few of major players in abrasivesmarket. The market of abrasive is fragmented with large number of global and local players. Mergers and acquisitions, collaborations and new product launch are some of the major strategies adopted by key market players. Apart from this, innovation and new product development are major focus areas for dominant companies.
Advancement in technology, increase in overall trade and transportation globally will fuel the abrasives market to a large extent, especially in emerging economies of India and China.
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Abrasives market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Abrasives market
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