Research and Markets: Global Coated Abrasives Market 2015-2019 – Emergence of China as a Major Consumer and Producer
By Business Wire News
By Business Wire News
Research and Markets (http://www.researchandmarkets.com/research/fwbrd3/global_coated) has announced the addition of the “Global Coated Abrasives Market 2015-2019” report to their offering.
The global coated abrasives market to grow at a CAGR of 6.74% over the period 2014-2019
Abrasives are used extensively in applications such as grinding, abrading, cleaning, and for imparting shape and finish. Coated abrasives, also referred to as flexible abrasives, comprise a backing material of either cloth, paper, polyester, or vulcanized fiber; a bonding system; and an abrasive coating. Apart from the transportation, machinery, and metal fabrication sectors, they are also used in the production of consumer goods, prosthetics, and implants. Aluminum oxide, silicon carbide, zirconia alumina, and ceramic aluminum oxide are the usual raw materials used for the production of these abrasives.
China was the leading producer and consumer of coated abrasives in 2014. The consumption of coated abrasives has surged further in recent times because of the economic and industrial development taking place in the country. The high per capita income and demand for consumer goods have increased the need for coated abrasives in the electronics sector in China. In addition, the rapid growth of the automobile industry in the country, resulting from urbanization and the increased influence of the West, will further augment market growth. In 2014, the automobile industry accounted for more than one-third of the volume of coated abrasives produced in the country, and this trend is expected to continue during the forecast period.
According to the report, coated abrasives are extensively used in the transportation sector for finishing and grinding applications. The demand for these abrasives has increased considerably over the years, especially in the automobile industry. The rise in urbanization and high spending power of consumers in emerging economies have led to the rapid growth of the global automobile industry in the last decade. In addition, significant developments in the industrial and economic sectors in APAC have led to an increase in demand for coated abrasives in the transportation sector. With the annual sales of the global automobile market growing by 2018, the coated abrasives market will benefit immensely.
Further, the report states that stringent regulations and the citation of silicon carbide on the list of hazardous substances in the US will dampen market growth.
The global coated abrasives market can be divided on the basis of end-users into the following segments:
- Metal fabrication
- Consumer goods
- Bosch Group
- EI du Pont de Nemours
- Saint-Gobain (Saint-Gobain Abrasives)
For more information visit http://www.researchandmarkets.com/research/fwbrd3/global_coated
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