Pune, Sept. 15, 2022 (GLOBE NEWSWIRE) -- The Global Glass Abrasives Market includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global market was valued at USD 45.07 Billion in 2023 and registering a CAGR of 6.34% from 2023 to 2032. The base year considered for the study is 2022, and the forecast has been provided for the period, 2023 to 2032.
An abrasive, which is frequently a mineral or ceramic, is used to rub the product into a completed appearance. The rough or uneven surface wears away due to friction, leaving the object with a smooth, reflective, and soft finish. Abrasives are ceramics that are used to cut, grind, and clean other softer materials. Small glass particles known as glass abrasives are used to shape and polish an object. Drilling, grinding, cutting, polishing, sharpening, buffing, sanding, and lapping are all processes that require glass abrasives. When creating jewellery or grinding glass, extremely fine glass rouge powder is frequently used to give the decorations a highly reflective sheen.
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The automotive industry is expected to experience the highest growth, which can be ascribed to increased disposable income and a rise in demand for vehicles from nations like Russia, Germany, China, India, and others. The market demand is anticipated to be driven by the rising demand from the automotive and construction industries for glass abrasives used in the drilling, sharpening, and polishing, deburring, sizing, and repair of machine and engine parts. However, it is anticipated that the market expansion would be constrained by the health risks related to the usage of glass abrasives that contain silica, which is known to have cancer-causing properties.
Benefits of Glass Abrasives:
It can be used close to and around water because it is inert and non-reactive. Additionally, post-blast cleaning is not necessary. Less than 1% free silica content, unlike slags, does not require Beryllium exposure limits. exemplary performance The metal finish is naturally whiter thanks to crushed glass.
Impact Of Covid-19 On Glass Abrasives Market:
The Covid-19 Pandemic has Impacted on every Industry like as Aerospace and Defence, Agriculture, Food & Beverages, Automobile & Transportations, Chemical & Material, Consumers Goods, Energy And Power ,Pharma And Healthcare, Packaging ,Constructions, Mining And Gases , Electronics And Semi-Conductors, Banking, Financial Services & Insurance, ICT and Many more.
- The COVID-19 outbreak has had a substantial effect on the global Glass Abrasives market. Due to the outbreak of the global health crisis and a lack of labour, production and industrial facilities around the world have been shut down.
- The business sector and industry were significantly impacted by the COVID-19 epidemic. By changing their sales channels and focusing on product innovation, manufacturers are understanding ways to recover from the current scenario.
Glass Abrasives Market, By Product Type:
It contains:
- Extra Coarse Size
- Medium Sizes
- Fine Sizes.
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Glass Abrasives Market, By Application:
- The industry segment with the highest revenue share of more than 35% in 2020 was automotive & transportation. Abrasives are utilised for a variety of tasks in the automotive sector, including coarse and lacquer sanding. Additionally, for grinding and polishing to improve the surface finish of automobile components, super abrasives in the form of diamond discs are preferred. One of the market's fastest-growing application segments is heavy machinery.
- The product is extensively used in mining equipment grinding and crushing, as well as applications involving metal cutting. Over the course of the projected period, growth in the manufacturing sector of developing nations is anticipated to increase demand for heavy machinery.
Global Glass Abrasives Market, Based On Regional Analysis:
- In 2020, Asia-Pacific led the world market and generated more than 54% of worldwide revenues. From 2021 to 2028, the regional market will continue to grow at the fastest CAGR. Over the course of the projection period, market growth is anticipated to be driven by improvements in infrastructure, increased manufacturing sector investments, and an increase in EV production in the region's developing economies. Potential markets for abrasives include Southeast Asian nations. For instance, compared to the same period in 2019, Vietnam's industrial production increased by 2.7% in the first half of 2020. As a result of the U.S.-China trade war, Vietnam has become a sought-after location for investment in Asia and a small manufacturing base globally.
- The demand for products has increased as a result of changes in the country's manufacturing sector. Due to the increasing product demand from the automotive, aerospace, and military industries, North America is predicted to experience consistent expansion over the next few years. Increasing emphasis on the production of EVs in the region, along with the restart of aircraft manufacturing operations, is predicted to prove favourable for the market's growth in the years to come, despite the dip in 2020 caused by the pandemic.
Recent Developments In The Global Glass Abrasives Market:
- In June 2019 - Manus Abrasive Systems, an Edmonton, Alberta-based manufacturer and distributor of abrasives materials, consumables, and surface preparation tools, was purchased by Marco Group International in June 2019. With the aid of this tactical acquisition, Marco was able to establish itself in the Canadian market.
- In June 2017 - Strategic Materials introduced a new line of abrasives manufactured entirely from recycled glass in June 2017. The abrasive is highly effective and has undergone thorough testing.
Some Key Points Of The Glass Abrasives Market Report Are:
- An in-depth global Glass Abrasives Market analysis by the segments, along with an analysis of trend-based insights and factors.
- Major companies operating in the Global Glass Abrasives market, which include Marco Group International, Vitro Minerals, Abrasives Inc, TRU Abrasives, Reade International Corp, GlassOx Abrasives, Harsco Minerals International, Rapid Prep, Graco, Saint-Gobain Group.
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the Global Glass Abrasives Market.
- Impact of covid-19 on the Global Glass Abrasives Market.
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