According to a abrasive market analysis by Research Dive, the global market forecast will be $64,873.4 million by 2026, registering 6.1% CAGR, is increasing from $40,396.5 million in 2018.
Driving Factors That Shape Abrasive Market Trends:
Increasing product consumption in the end-use sectors like automotive, manufacturing, machinery and construction sectors, coupled with the rising technological developments in the metal fabrication, and machine manufacturing are some of the current abrasive market trends.
Increasing demand for smooth surface finish on the machine components will further enhance the abrasive market growth. Increasing need to reduce the noise levels from the machines is another factor, which will drive the demand for abrasive products in the coming years. The rapid progress in the automotive sector of the developing countries is expected to *** abundant investment opportunities in the global abrasive market in the future period. However, the growth of the global abrasives market is expected to get hampered due to the stringent regulations on the production process of these products, can cause a restriction to the growth of abrasive market.
Abrasive Market Segmentation by End-use