Global Coated Abrasives Market Research Report, By Type, By Backing Material, By Application (Metal Working, Wood Working, Automotive, Electronics & Semiconductors, Aerospace & Defense and Others), By Regions - Forecast till 2022
Pune, India - September 10, 2018 /MarketersMedia/— Saint-Gobain (France), 3M (US), Sia Abrasives AG (Switzerland), Napoleon Abrasives SPA (Italy), Sungold Abrasives (US), Schaffner Manufacturing Company Inc (US), United Abrasives Inc (US), Noritake Co. Limited (Japan), and Fandeli International Corporation (US) are some of the prominent players at the forefront of competition in the Global Coated Abrasives Market and are profiled in MRFR Analysis.
Coated Abrasives Market – Market Overview
Coated Abrasives are made from loose abrasive grains bonded to a backing or flexible substrate such as paper, cloth or plastic films, using adhesives and converted into different shapes such as belts, rolls, discs, sheets.
Owing to its superior properties and advantages such as high tensile strength, resistance to heat, fracture, and durability, it finds application in metal and wood working, automotive, aerospace & defence, and electronics & semiconductor industries. The increasing demand from the metal working and automotive is expected to drive the Global Coated Abrasives Market in the coming years. According to MRFR analysis, the Global Coated Abrasives Market was valued at USD 10,233.3 million in 2016 and is expected to be valued at USD 14,671.2 million by the end of 2022, expanding at a CAGR of 6.3%. This can be attributed to increasing consumption of coated abrasives in the major end-use industries. On the basis of applications, metals working accounted for the largest market value share for Coated Abrasives in 2016 and is expected to continue its dominance during the forecast period, followed by wood working and automotive application segments. However, availability of substitute such as super abrasives is likely to hamper the market growth.
In 2016, Asia-Pacific accounted for the largest market share followed by Europe and North America. The Asia Pacific region offers large growth potential for Coated Abrasives Market and is projected to register a CAGR of 6.9% to reach USD 5,453.5 million by 2022 owing to the rapid industrialisation in the region along with presence of considerable number of producers coupled with cheap labour cost and growing exports.