Dublin, May 16, 2022 (GLOBE NEWSWIRE) -- The "India Abrasive Market, By Type (Bonded, Coated, Super), By Material (Natural, Synthetic), By End-User Industry (Automotive, Metal Fabrication, Machinery, Electronic, Construction, Others), By Company, By Region Forecast & Opportunities, FY2028" report has been added to ResearchAndMarkets.com's offering.
The Indian Abrasive Market registered its growth value of USD362.26 million in FY2021 and is expected to grow with a CAGR value of 6.61% in the forecast period, to reach USD541.84 million by FY2027.
The Indian Abrasive Market is expected to grow on the back of expanding construction industry. The demand for aesthetic products for home furnishing further drives the growth of the Indian Abrasive Market in the upcoming five years. Also, due to the launch of favorable schemes like "Make in India" initiatives, "Smart Cities Mission", and "Housing for All", government initiatives to enhance investment in the construction industry are further supporting the growth of the Indian Abrasive Market in the next five years.
Abrasive is a mineral that is utilized for the shaping and finishing purposes in the manufacturing of a workpiece through rubbing. Surging demand has created scope for the new market players to penetrate the market in the near future. The rapidly increasing number of market players is increasing further competition among the existent players and new players, thereby supporting the growth of the Indian Abrasive Market in the forecast years, until FY2027.
Increasing demand from the end-use sectors like the demand for grinding wheels that are used for cutting tools, abrasive jet machining, pencil blasting, etc., are some of the many applications and are thus driving the growth of the Indian Abrasive Market in the future five years.
Bonded abrasive type is anticipated to register the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground of its added advantages in grinding, cleaning, scouring, removing solid material through rubbing actions. The bonded abrasives are also utilized in the automotive industry and metal fabrication, which supports their future growth along with the growth of the Indian Abrasive Market in the next five years.
Based on material, the market is fragmented into Natural and Synthetic. Natural materials of abrasive are anticipated to register the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of their larger quantity and advantages. Diamond, corundum, and emery are natural abrasives that can be mined and are used after minimal modifications. Natural abrasives are also utilized for industrial, home, and technological applications.
Objective of the Study:
- To analyze the historical growth of the market size of the Indian Abrasive Market from FY2017 to FY2021.
- To estimate and forecast the market size of the Indian Abrasive Market from FY2022 to FY2027 and growth rate until FY2027.
- To classify and forecast the Indian Abrasive Market based on type, material, end-user industry, regional analysis and competitional landscape.
- To identify dominant region or segment in the Indian Abrasive Market.
- To identify drivers and challenges for the Indian Abrasive Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Abrasive Market.
- To identify and analyze the profile of leading players operating in the Indian Abrasive Market.
- To identify key sustainable strategies adopted by market players in the Indian Abrasive Market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Abrasive Market.
- Carborundum Universal Ltd
- Grindwell Norton Ltd
- Wendt India Ltd
- Hindustan Abrasives
- Sterling Abrasives Limited
- Orient Abrasives Limited
- Welcast Steels Ltd
- Asahi Diamond Industrial India Private Limited
- Bosch Limited
- Henkel Anand India Private Limited
Report Scope:
Years considered for this report:
- Historical Years: FY2017 - FY2020
- Base Year: FY2021
- Estimated Year: FY2022
- Forecast Period: FY2023 - FY2027
India Abrasive Market, By Type:
- Bonded
- Coated
- Super
India Abrasive Market, By Material:
- Natural
- Synthetic
India Abrasive Market, By End-User Industry:
- Automotive
- Metal Fabrication
- Machinery
- Electronic
- Construction
- Others
India Abrasive Market, By Region:
- North
- East
- West
- South
For more information about this report visit https://www.researchandmarkets.com/r/qkoadu
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