The Abrasives Global Market Report 2023, provides comprehensive information on the abrasives market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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According to The Business Research Company’s latest report, “Abrasives Global Market Report 2023,” the global abrasives market is poised for substantial growth, with projections indicating a substantial increase from $39.9 billion in 2022 to $43.85 billion in 2023. This promising expansion is anticipated to occur at a remarkable compound annual growth rate (CAGR) of 9.9%.
Nonetheless, it is essential to contextualize this growth within the broader global economic landscape. The recent Russia-Ukraine conflict has cast a shadow over the world’s economic recovery post the COVID-19 pandemic. In the short term, this geopolitical strife has triggered extensive economic sanctions impacting numerous nations, causing a surge in commodity prices, and resulting in significant supply chain disruptions. These far-reaching consequences have led to an inflationary impact on goods and services, significantly influencing multiple markets worldwide.
In light of these challenges, the abrasives market is nevertheless poised for remarkable expansion. The forecast projects a continued upward trajectory, with a market size expected to reach a substantial $65.07 billion by 2027, reflecting a notable CAGR of 10.4%.
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One notable trend that has emerged within the abrasives sector is the increasing prevalence of strategic collaborations between key industry players. Leading companies in the abrasives sector are actively pursuing partnerships and cooperative ventures to foster innovation and the development of cutting-edge technologies and products.
For example, in October 2020, Bosch, a renowned German multinational engineering and technology conglomerate headquartered in Gerlingen, Germany, entered into a strategic alliance with BehrBircher BBC AG, a Swiss-based firm specializing in the manufacture and assembly of precision parts for diverse industries. This partnership saw Bosch acquiring a substantial 40% stake in Sia abrasives holding AG for a significant sum of $110 million. This collaboration provided Bosch’s power tools division with a valuable opportunity to enhance its surface technology initiatives and expand its already extensive abrasive product portfolio.
Similarly, in March 2020, Marco Group International, a leading U.S.-based manufacturer of abrasives, coating equipment, and engineered systems, joined forces with APE Companies, a prominent U.S. firm specializing in abrasives and safety products for a broad range of industrial contractors. This strategic alliance established both companies as premier North American distributors of surface preparation, abrasives, and safety products. With retail outlets now spanning 24 locations across the United States and Canada, this collaboration represents a significant step forward for both organizations. It positions them to better serve their clients by offering an extensive network of locations and an even broader spectrum of products.
The abrasives market is segmented:
1) By Raw Material: Natural, Synthetic
2) By Type: Bonded Abrasives, Coated Abrasives, Super Precision Abrasives, Super Construction Abrasives
3) By Form: Block Form, Powdered Form
4) By Application: Grinding, Cutting, Polishing, Drilling, Finishing, Other Applications
5) By End User: Automotive, Machinery, Aerospace, Electrical & Electronics, Construction, Furniture
Top 5 Major Players:
Asia-Pacific was the largest region in the abrasives market in 2022.
Table of contents :
1. Executive Summary
2. Abrasives Market Market Characteristics
3. Abrasives Market Market Trends And Strategies
4. Abrasives Market – Macro Economic Scenario
5. Abrasives Market Market Size And Growth
……
26. Africa Abrasives Market Market
27. Abrasives Market Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Abrasives Market Market
29. Abrasives Market Market Future Outlook and Potential Analysis
30. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Abrasives Market Market, Segmentation By Raw Material, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Abrasives Market Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Abrasives Market Market, Segmentation By Form, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
….
Table 48: Robert Bosch GMBH Financial Performance
Table 49: 3M Company Financial Performance
Table 50: Saint-Gobain Abrasives, Inc., Financial Performance
Table 51: Fujimi Incorporated Financial Performance
Table 52: Henkel AG & CO. KGAA Financial Performance
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