Wilmington, Delaware, United States, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for coated abrasives was estimated to be worth a market valuation around US$ 13.2 billion in 2022. The market is anticipated to register a steady 6.7% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 23.2 billion.
In the upcoming years, it is anticipated that the manufacturing, metalworking, automotive, and woodworking sectors would expand, driving the coated abrasives market. Abrasive sheets are becoming more popular in a range of applications, like surface preparation in construction projects, furniture manufacture, vehicle repair, and metal fabrication due to their versatility, simplicity, and ability to provide high surface quality.
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Global Coated Abrasives Market: Key Players
Small and medium-sized makers of coated abrasives may be found all over the world, and they compete with huge corporations as well as one another. To increase their product offerings, the majority of enterprises are making large investments in research and development efforts.
The key players in the market are:
3M, Saint-Gobain Abrasives, Baige Abrasives Co., Ltd., Carborundum Universal Limited, Deerfos Co., Ltd., Egyptian Abrasives Co., Ekamant, Fine Abrasives Ind Co., Ltd., Grinding Techniques (Pty) Ltd., Hermes Schleifmittel GmbH, InterAbrasives, Karbosan, Klingspor Abrasives, KOVAX Corporation, LBA, Mirka Ltd., Nagatsuka Abrasive Mfg. Co., Ltd., Napoleon Abrasives S.p.a., Nastroflex, Nihon Kenshi Co., Ltd., Noritake Coated Abrasive Co., Ltd., SIA Abrasives Industries AG, Starcke GmbH & Co. KG, and United Abrasives are key players in the coated abrasives market.
Some developments by the key players in the global market for coated abrasives are:
- In May 2023, 3M and AV&R, a company that offers industrial automation services, teamed together to deliver next-generation robotic systems to assist with surface finishing operations. This partnership combines AV&R's expertise in surface finishing automation with 3M's experience as a top producer and supplier of abrasive materials.
- Saint-Gobain Abrasives launched their new Norton Abrasive Process Solutions (APS) Program in April 2022. The tool was created to assist users in selecting the best grinding or finishing method for different purposes.
Key Findings of Market Report
- Coated abrasives enable the required surface treatments, textures, and fine details, resulting in high-quality and aesthetically pleasing finished products.
- Sustainability techniques and goods are being promoted throughout sectors as a result of increased environmental awareness and the adoption of strict legislation.
- The utilization of micro-abrasives, precise bonding methods, and designed abrasive grains are some of the most recent developments in the coated abrasives industry that improve performance, efficacy, as well as surface quality.
Market Trends For Coated Abrasives
- To move toward high-performance and specialty coated abrasives is influenced by technological advancements. Customers are increasingly looking for specialized solutions to satisfy their unique application needs. Coated abrasives with high performance and specialization enable modification to meet individual requirements.
- To meet the different demands of their customers and boost the income from the coated abrasives market, manufacturers are providing flexibility and customization choices. Coated abrasives with high performance allow for faster material removal rates, shorter processing times, and higher output. Advanced coated abrasives increase efficiency, which benefits large volume production sectors like automotive and aerospace. There are financial benefits, higher productivity, and a rise in demand for these specialist abrasives.
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Global Coated Abrasives Regional Market Outlook
- From 2023 to 2031, Asia Pacific is anticipated to have a major share. The market dynamics of the area are being fueled by the rapid industrialisation of India and China. The need for coated abrasives in Asia Pacific is also increasing as a result of growth in the automotive, building and construction, and electronics industries.
- North American markets are expanding as a result of expansion in the industrial and automotive industries. The United States is a significant market for coated abrasives due to the growth of the metalworking and woodworking sectors.
- The development of the building and construction and automotive industries is accelerating market growth in Europe. Germany, Italy, and the United Kingdom are the three top markets in the area for coated abrasives due to the rising need for high-performance and environmentally friendly abrasives in these nations.
Global Coated Abrasives Market Segmentation
- By Material
- Ceramic Alumina
- Zirconia Alumina
- Aluminum Oxide
- Silicon Carbide
- Garnet
- Flint
- Others
- By Backing Material
- Fiber
- Cloth
- Paper
- Others
- By Product Type
- Belts
- Brushes
- Discs
- Sheets and Rolls
- Wheels
- Specialties
- Others
- By Application
- Wood
- Leather
- Lacquer
- Metals
- Stainless Steel and Titanium Plates
- Knife Sanding
- Turbine Sanding
- Flap Discs
- Tools Industry
- Others
- Gypsum and Stone
- Gypsum Fiberboard
- Fiber Cement Plates
- Others
- Rubber
- Toothed Belt
- Printing Blanket
- Others
- Plastics
- Others
- By Distribution Channel
- Direct
- Distributor
- OEM
- Convertor
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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