Abrasives market will exhibit a CAGR of 6.1% and reach USD 59.34 billion by 2026, and the market value as per 2018 was USD 37.09 billion.
Fortune Business Insights in a report, titled “Abrasives Market Size, Share & Industry Analysis, By Materials (Natural and Synthetic), By Product (Bonded, Coated, and Super Abrasive), By Application (Automotive, Electrical & Electronics, Metal Fabrication, Machinery, and Others), and Regional Forecast, 2019-2026”.
Abrasives market Drivers and Restraint :
Saint-Gobain Abrasives, the global leader in abrasives and cutting, grinding, and finishing operations, unveiled its new Norton QUANTUM3™ RightCut Wheels, adding to its Norton QUANTUM3™ (NQ3) lines of Depressed Center Grinding Wheels and Combination Wheels. Furthermore, the Saint-Gobain Abrasives also partnered with Airgas to provide Norton QUANTUM3™ RightCut Wheels through Airgas exclusively for a limited period of 3 months. Air Airgas is a leading U.S. supplier of industrial, medical and specialty gases as well as related hard goods, including maintenance, repair and operations (MRO), welding and safety equipment and supplies.
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Some of the Key Players of the Market for Abrasives market include:
- The 3M Company
- Krebs & Riedel
- Asahi Diamond Industrial Co., Ltd.
- Robert Bosch GmbH
- Fujimi Incorporated
- Henkel AG & Co. KGaA
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Rising Technological Advancement to Propel Market in North America
The market in North America stood at USD 9232.8 million in 2018 and is expected to grow rapidly during the forecast period. The growth in the region is attributable to the advancement in precision tooling and machine part manufacturing along with technological development. Europe is likely to witness high growth during the forecast period owing to the automobile production hub in the region. The rising demand for cleaning and maintenance of automobiles to augment the growth of the market in Europe.
Some of the key industry developments in the Abrasives market Include:
February 2020– Brookstone Partners acquired Virginia Abrasives (‘’VAC’’). VAC Produces and distributes to professional flooring, equipment rental and industrial flooring markets. This acquisition will help VAC to drive its organic growth by expanding its product offerings. Brookstone partners will boost VAC growth by seeking to acquire complementary firms to meet the evolving needs of its Customers.
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