Global Coated Abrasive Market to Climb to USD 14.67 Bn by Late 2022, Expects MRFR in Its Insightful Research Report Published at MarketPublishers.com
04 Sep 2017 • by Natalie Aster
LONDON – Driven by such factors as high demand for strong and durable tools for cutting, sharpening and precise grinding application across a wide range of industries along with significant expenditures on grinding wheels, the global market for coated abrasives is expected to gain momentum and demonstrate substantial growth at a 6.3% CAGR during 2017-2022. By late 2022, the market value is poised to cross USD 14.67 billion.
Presently, the word’s coated abrasives market is led by the
aluminium and silicon carbide coated abrasives, which together holds the mammoth share (slightly over 71%) of the total market revenues. As for applications, the largest consumers of the coated abrasives are the metalworking and woodworking industries that together account for over one-third of the revenues generated in the coated abrasives market.
Regionally, APAC is the leading regional market for coated abrasives. Through 2022, the APAC coated abrasives market is predicted to maintain its dominant position and witness a CAGR of appr. 7%. Robust growth in this regional market is attributed to rising industrial penetration, booming automotive production, high concentration of manufactures and presence of influential players in the region.
Topical research report “Global Coated Abrasive Market Research Report- Forecast to 2022” prepared by Market Research Future (MRFR) comprises a profound analysis of the present situation in the global market for coated abrasives. It provides the market segmentation analysis on the basis of types, applications and regions; examines the market supply chain, includes Porter’s five forces analysis, touches upon pricing issues, delves deep into the market dynamics, reviews the key growth drivers, restraints, challenges and opportunities, and highlights the prevailing market trends. The competitive scenario is scrutinised and dominant players are profiled in this study. In addition, future forecasts for the coated abrasive market development up to 2022 are available here.
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