The coated abrasives market is expected to grow by USD 2.81 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has published a latest market research report titled Global Coated Abrasives Market 2020-2024 (Graphic: Business Wire)
Pressure-sensitive adhesives (PSA) are gaining popularity because they offer greater ease in the mounting of sanding discs, rolls, and sheets. Many vendors, such as Saint-Gobain and CUMI, offer coated abrasives with PSA-backing. Key applications of these products include blending welds and defects in auto body shops, removal of paint and primer in auto refinish shops, and orbital sanding for the finishing of flat stock wood components. Moreover, mountings on disc sander, orbital sander, rotary sander can be conveniently carried out with the use of PSA-backed coated abrasives. These types of coated abrasives ensure protection from dust and moisture, and provide longer disc life. The resultant characteristic of the evenly applied adhesive coating guarantees consistent grinding, sanding, and polishing action on any surface, flat or contoured. Thus, the growing demand for PSA-backed coated abrasives will drive the growth of the market.
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As per Technavio, the emergence of China as a major consumer and producer will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Coated Abrasives Market: Emergence of China as a Major Consumer and Producer
In 2019, China was the leading producer and consumer of coated abrasives, accounting for more than 20% of global coated abrasives market share. Consumption of coated abrasives has surged in recent times because of the ongoing economic and industrial development in the country. High per capita income and demand for consumer goods has increased the need for coated abrasives in the electronics industry in China. In addition, other contributing factors such as the rapid growth of the automobile industry in China and population growth coupled with urbanization will further augment coated abrasives market growth during the forecast period.
“Factors such as the incorporation of forward integration by production value chains, and strong demand for semi-friable aluminum oxide-based products will have a positive impact on the growth of the coated abrasives market value during the forecast period,” says a senior analyst at Technavio.
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Coated Abrasives Market: Segmentation Analysis
This market research report segments the coated abrasives market by application (transportation, machinery, metal fabrication, consumer goods and others), grain type (aluminum oxide, ceramic, silicon carbide, alumina zirconia and others), backing material (fiber, paper, cloth, polyester and others), and geography (North America, APAC, Europe, South America and MEA).
The APAC region led the coated abrasives market in 2019, followed by Europe, North America, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growing economic development of the Association of Southeast Asian Nations (ASEAN) countries and the increase in per capita income of people.
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Some of the key topics covered in the report include:
- Metal fabrication
- Consumer goods
- Aluminum oxide
- Silicon carbide
- Alumina zirconia
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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