Development Prospect Of Abrasive Market
Development Prospect Of Abrasive Market
Abrasives market by material (natural, synthetic), product (grinding wheel, sandpaper, others), type (bonded, coated, superhard), end-use industry (automotive, machinery, metal fabrication, petroleum & geology industry, electric processing industry and others)- global forecast to 2021", published by markets, the market is projected to grow from USD 41.21 Billion in 2015 to USD 58.43 Billion by 2021, at a CAGR of 6.10%.
The Abrasives Market is projected to witness significant growth in the next few years with the growing automotive, metal fabrication, electronics, electrical, medical, and construction industries. Abrasive is a material or substance such as pumice, sandpaper, or emery, which is used for grinding, cleaning, polishing, and smoothing. Abrasives are used in a wide range of domestic, industrial, and technological applications.
Use of grinding wheel in automotive is projected to increase during the forecast period.
Grinding, the most important abrasive product, is involved in the manufacturing of machinery, electrical, electronic components, and automotive components. It is made of abrasive grain, and is a self-sharpening cutting tool. The majority of grinding wheels made have a vitreous, ceramic bond, made of clays and feldspars. The grinding wheel segment accounted for the largest market share in 2015 due to higher speed, improved efficiency, and better productivity.
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