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The global abrasives market was valued at US$ 48 Billion in 2020.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries for abrasives.
We expect the global abrasives market to exhibit a CAGR of 4.5% during 2021-2026.
The growing adoption of super-abrasives, such as industrial diamonds for precision grinding and cutting of hard metals, represents one of the factors catalyzing the global abrasives market.
Based on the product type, the global abrasives market can be segmented into bonded abrasives, coated abrasives, super-abrasives, and others. Currently, coated abrasives account for the majority of the total market share.
Based on the end-use, the global abrasives market has been divided into machinery, metal fabrication, automotive, electronics, construction, and others. Among these, the automotive sector currently exhibits a clear dominance in the market.
Based on the material type, the global abrasives market can be bifurcated into natural abrasives and synthetic abrasives. Currently, synthetic abrasives represent the largest market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global abrasives market include Robert Bosch GmbH, Dowdupont, Fujimi Incorporated, Compagnie De Saint-Gobain S.A., Henkel, 3M Company, Asahi Diamond Industrial, Carborundum Universal, Tyrolit Group, Nippon Resibon Corporation, Krebs & Riedel, Abrasiflex, Noritake, Deerfos, Sankyo-Rikagaku, etc.
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