Coated abrasives market 2020 can potentially capture a CAGR of 6.3% over the forecast period (between 2022 and 2030). We will provide COVID-19 impact analysis along with the coated abrasives market report, combined with all the extensive key developments in the market post the coronavirus disease outbreak.
Coated abrasives have extensive applications in fabrication, furniture, auto ancillaries, auto OEM, flooring and general engineering. Industry abrasive end-users are increasingly opting for coated abrasives instead of their counterparts, given their exceptional benefits such as excellent surface finishes with greater productivity. Considering these benefits, it is expected that the product demand can scale up significantly in the following years. Mounting product demand in automotive, welding, jewelry and foundry industries can also propel the market size in the next several years. On a dim note, difficulties faced in terms of low availability of required manufacturing equipment can deter the market growth in the near future. With that said, the surging focus on developing advanced equipment and machinery useful during manufacturing can create huge opportunities in the global industry, over the review period.
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Market Segmentation
Coated abrasives industry has been dissected with respect to types, applications and backing materials.
The primary types of coated abrasives are silicon carbide, aluminum oxide, ceramic alumina, zirconia alumina, garnet and emery. Between these, the highest shares in the market belong to aluminum oxide as well as silicon carbide. The coated abrasives market report estimates that aluminum oxide and silicon carbide collectively form over half of the worldwide industry, which comes close to 70%.
Coated abrasives applications are aerospace defense, woodworking, metalworking, electronics semiconductors, automotive, and more. Metalworking is the leading segment in the market and can continue to dominate throughout the evaluation timeline. Woodworking also accounts for a major share in the entire market, as a result of the escalating construction activities in developed countries along with the rapid rate of urbanization across developing nations. Moving forward, coated abrasives’ consumption in electronic semiconductor as well as automotive industries can grow exponentially in the years ahead, on account of the rising automotive production paired with the amplified demand for cutting-edge abrasive products within the electronic semiconductor sector.
Backing materials considered in the market study are cloth, ("X" Weight, "H" Weight and "J" Weight) as well as Paper ("C" and "D" Weights, fiber and combination, “F” Weight, "A" Weight).
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Regional Analysis:
The MRFR analysis, with respect to regions, covers Asia Pacific (APAC), Europe, North America and Middle East Africa or MEA.
APAC has remained the most lucrative market since 2016, leaving behind Europe and North America. The demand for coated abrasives in the region is especially high in industries like machinery, metal fabrication and automotive. The market growth in the region is strongly encouraged by the surge in the production as well as consumption of industrial products in India and China, where lately, there has been a considerable increase in disposable income, and a spike in the sales of commercial and passenger vehicles. Therefore, the strong demand for automobiles is ultimately proving to be favorable for the coated abrasives market in the region. Besides, the impressive growth in the electronic devices industry has resulted in a stunning increase in the consumption of coated abrasives within the electronic industry, particularly in the consumer goods sector.
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