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Coated Abrasives Market Growth 2019, Research Insights, Trends, Sales, Key Developments, Dominant Players, Industry Size Forecast to 2022
May 02, 2019 (MarketersMedia via COMTEX) —
Global Coated Abrasives Market Research Report, By Type, Backing Material, Paper, Application (Metal Working, Wood Working, Automotive, Electronics & Semiconductors, Aerospace & Defense and Others) and Regions – Forecast till 2022
Technological progress and growth in industrialization have provided substantial opportunity for the Coated Abrasives Market to ensure expansion. The Global Coated Abrasives Market, by adhering to these tractions, is expecting a growth by 6.3% during the forecast period (2017-2022). Its features make it a perfect choice for areas like metal and alloy molding. At the same time, the growth in the manufacturing sector is providing traction to the Global Coated Abrasives Market.
The Coated Abrasives Market to gain much from the semiconductor manufacturing industry. The sector is gaining much from the boom taking place in countries such as China, Japan, and Taiwan. These countries are making a name as robust suppliers of semiconductors owing to which the Coated Abrasives Market in the region can gain substantial boost.
In April 2019, BrandSafway, a company known for its ventures in the industry, launched Quik-X. The new model is a refractory anchoring system and is designed to perform well in FCCUs (Fluid Catalytic Cracking Units) cyclones and air grids. The machine has less metal volume, almost 6.29% per square foot which makes it easier for Coated Abrasives to work.
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Sia Abrasives Industries AG
MRFR's market study of the Coated Abrasives Market is segmented by Application and Type. This puts significant factors under the lens for a better analysis of scopes that would lead to market optimization.
Based on the Type, the Global Coated Abrasives Market can be segmented into ceramic aluminum oxide, silicon carbide, aluminum oxide, garnet, zirconia aluminum oxide, and emery. Value-wise, the aluminum oxide segment ruled the market in 2015 and is estimated to surpass USD 3,900 million during the forecast period with a possible CAGR of 6.73%.
Application-wise, the Coated Abrasives Market can be segmented into woodworking, automotive, metalworking, electronics & semiconductors, aerospace & defense, and others. The metalworking segment is expected to score well in the coming years because of its application feasibilities.
MRFR, Based on Regions, analyzed the Global Coated Abrasives Market by including Latin America, Asia Pacific (APAC), Europe, North America, and the Middle East & Africa (MEA).
The burgeoning automotive industry is providing traction to the APAC automotive industry and it is one of the major factors to substantiate the region's claim of being the market leader. The growth in the automotive industry is not expected to slacken in the foreseeable future as global titans are getting lured in by investment opportunities provided by the region. The regional market is expected to bask in such profits throughout the review period. In 2016, the APAC region had dominance over one-third of the market which is expected to expand with 6.90% CAGR during the forecast period. Among other factors, rapid industrialization and urbanization have given way to a substantial number of producers, with exports on the rise and labor costs staying economical.
Europe is following the lead with nations such as Germany, France and the U.K. who could trigger the production rate to take the market further ahead. Due to the presence of automotive giants in the region, Europe can perform well during the forecast period. The MEA market can benefit much from economic stability and growing construction work. In the Middle East, a lot of leading companies have cemented their presence due to which the boost in profits would be substantial in the coming years.
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