Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The bonded abrasives are prepared by combining premium grains with functional filler materials and bonding agents. Abrasives are used to mold or provide finishing to a piece of work, through a process that requires buffing, grinding, cutting, and polishing. The difference between the hardness of the material and the abrasive based on this abrasion depends. Abrasives are used in a wide variety of industrial, domestic, and technological applications. The abrasive products are used for various applications such as cutting, grinding, drilling, polishing, lapping, honing, and buffing.
The growing construction sector in developing countries and technological advancement in abrasives are the factors that impeding the market growth in 2020. Besides this, requirement for bonded abrasives from the upcoming automotive industry will fuel the growth of the market. Also, growing construction in developing sector will boosts market growth. Nevertheless, downfall in the automotive industry and negative impact of the COVID-19 pandemic are the major restraining factor that could hamper the growth of the market.
Due to COVID 19 outbreak lead to shut down of many industries. During this COVID 19 pandemic all the construction and manufacturing activities were declined due to supply chain disruptions and labor shortages. This leads to disturbance in the production of abrasives products. Also demand for abrasives products has decreased in marine and automotive industry will affect the growth of the market. Due to this scenario, COVID 19 negatively affect the bonded abrasive market.
The study analyses Asia Pacific Bonded Abrasives Market based on product type, application, end user and country.
By the type, the bonded adhesive market has been segmented into depressed center wheels, cup-shaped wheels, recessed or relieved wheels, and tapered body wheel. The depressed center wheels segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period 2021-2027. The factors driving the market growth are this wheels are designed to handle tough right angle grinding applications on metal, masonry and other building materials, hence demand for depressed centerwheels has increased.
The Bonded Abrasives market has its application in Grinding, Fabrication, Polishing, Cutting and Others (lapping, honing, buffing). The grinding segment is expected to account for the largest share of the market owing to, increasing demand for bonded abrasives products in grinding technique. The bond offers high-strength and thermal-resistance for grinding and cutting, hence demand has increased. And also, abrasive grains act as grinding tools, removing material from a work piece to shape and refine it.
The various end user included in bonded abrasives market are bifurcated into Automotive, Marine, Aerospace, Construction, Metal Working and Others. The automotive segment held the largest market share of global bonded abrasives market in 2020. As bonded abrasives has widely used in metal finishing or cutting applications. Hence, demand for bonded abrasives in automotive industry has increased.
The countries covered in the Asia-Pacific bonded abrasives market report are China, Japan, India and rest of APAC. The China held the largest market share of Asia Pacific bonded abrasives market and is likely to dominate the market over the estimated time frame. China is one of the major contributing country in construction field and also it is well developed country. The technological advancement in the bonded abrasives is major factor for the market growth in the region.
The major key players of market includes 3M, Baystate, Tyrolit, Treibacher, Noritake, NIPPON RESIBON CORPORATION , Carborundum Universal Limited, Buffalo Abrasives , Abrasives Manhattan , Marrose Abrasives, Grinding Techniques Ltd , SAK Abrasives Limited , Sia Abrasives Industries AG Flexovit , Saint-Gobain , Robert Bosch GmbH, DRONCO GmbH, KWH Mirka , Fujimi Incorporated, Osborn (DRONCO), Precision Abrasives Pvt. Ltd and Asahi Diamond Industrial Co. Ltd.
The study analyses Asia Pacific bonded abrasives market based on product type, application, end user and country. Bonded abrasives are those that are made into grinding wheels, cut off wheels, segments, cones, and other such forms. The factors that are responsible for the market growth are rapidly growing construction sector in emerging economies and advancement in technology. Besides this, growing industrialization will further boosts the market growth in upcoming years. The rising technology and increasing growth of automotive industry are the major factors that driving market growth. Nevertheless, rising demand in the different hand-held machines like angle grinders, vertical grinders hence it is expected to impede market growth over the forecast period 2019 - 2028. Country wise study comprises countries like China, India, Japan and rest of Asia Pacific. The China held the largest market share of Asia Pacific bonded abrasives market and is likely to dominate the market over the estimated time frame.
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