Abrasives are hard materials which can withstand any damage when rubbed with any other surface. Abrasives can be segmented into two types: natural and synthetic abrasives. Synthetic abrasives are materials which are synthetically manufactured for the purpose of abrasion.
Synthetic abrasives include synthetic diamond, boron nitride (cubic), boron carbide, silicon carbide, alumina and other ceramics. Synthetic abrasives are used in grinding, forming, drilling, shaping, finishing, boring, cutting and other industrial processes.
These abrasives can be used in block or powdered form to manufacture various tools. That apart, these abrasives are also used as a coating material during the manufacturing of industrial tools. The choice of abrasive material depends on the application object.
The strength of the object decides the selection of the synthetic abrasives. The synthetic abrasive used must be stronger than the object on which it is going to be used. Various developments in material technologies are pushing the demand for synthetic abrasives in different applications.
Market Drivers
Increasing construction activities to cater to the growing demand from the ever-growing population are pushing the demand for synthetic abrasives from the construction industry. New technologies have been developed for the manufacturing of hard and strong synthetic abrasives in recent years.
The demand for customized products as per the requirement is further pushing the development of synthetic abrasives. Industrial growth in emerging regions is also accelerating the growth of the concerned market at a good rate.
New combinations of materials are being tried and tested by manufacturers for better and effective results. Growing application industries and development of new synthetic abrasives is also expected to push the growth of the market during the forecast period.
Market Restraints
Sufficient availability of natural abrasives will create a setback for the concerned market. That apart, the high cost of synthetic abrasives is another big challenge for abrasives manufacturers.
Abrasives Market Trends
As synthetic abrasives offer better quality and high performance, they are replacing natural abrasives in many applications. New product developments and customized solutions for various applications have been observed in the synthetic abrasives market.
Increasing opportunities from growing economies, such as China and other Asian countries, are pushing the demand for synthetic abrasives. Increasing demand for automation in various industries is another factor driving the growth of the synthetic abrasives market.
The Asia Pacific is expected to account for the largest share in the global market. Growing spending power in the countries including India and China is pushing the demand for synthetic abrasives from end use applications.
North America accounts for the second largest share in terms of the demand for the synthetic abrasive, and is also expected to grow with a significant growth. Decreasing industrial production and sluggish market in the Europe, is expected to be the reason for the slow growth in the demand for the synthetic abrasives market in Europe.
New developments in Middle East and Africa and Latin America are driving the synthetic abrasives market in the respective regions.
Some of the market participants identified across the value chain of global synthetic abrasives market are:
The global Synthetic abrasives market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The global Synthetic abrasives market research report provides analysis and information according to market segments such as geographies, application and industry.
The global Synthetic abrasives market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The global Synthetic abrasives market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The global Synthetic abrasives market report also maps the qualitative impact of various market factors on market segments and geographies.
The global Synthetic abrasives market can be segmented by material type, end use industry and region.
On the basis of material type, the global market can be segmented as:
On the basis of applications, the global market can be segmented as:
On the basis of end use industry, the global market can be segmented as:
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Synthetic Abrasives Market
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