Abrasive is a mineral kind material which is used to shape or finish any workpiece through the process of rubbing. Abrasives are extremely common and are used very broadly in a wide variety of domestic, industrial and technological applications.
Commonly abrasive is used for/in:-
- grinding,
- cutting,
- buffing,
- sharpening,
- drilling,
- polishing, etc.
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Asbestos is a fibrous silicate mineral which occurs naturally. It is a superb electrical insulator and is also highly heat-resistant. It is suitable for use in thousands of products such as floor tiles, road signs, sewage pipes, insulating mattresses, and much more.
The material named Refractory, is a decomposition (by heat, pressure, or chemical attack) resistor which reserve strength form high temperatures. It is polycrystalline, polyphase, inorganic, non-metallic, porous, and heterogeneous.
Regional Growth & Market Scope (Abrasive, Asbestos & Refractories)
According to the Abrasive Market Size, Share & Trends Analysis Report by Product, the size of the global abrasive market was valued at USD 34.41 billion in 2020 and is expected to grow from 2021 to 2028 at a compound annual growth (CAG) rate of 4.2%.
Fig: U.S. abrasive market size, 2017-2028 (USD billion)
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Some of the key driving factors of the global abrasive market are:-
- Extension of metal fabrication industry due to the:
· Rising pressure for pre-engineered buildings and components
· And, expansion in the manufacturing sector.
- The Growth of Electrical Vehicles (EVs) in the United States is also expected to drive the global market, which is forecasted to boost the abrasives demand in the coming years.
The Asia Pacific region is considered for the largest revenue share (more than 54%) in the 2020 global market. The regional market is also expected to expand further with the registration of the fastest CAGR from 2021 to 2028.
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The factors that drive the market growth (in the forecast period) include:
- Infrastructural developments,
- Rising manufacturing sector investments,
- And, EV production extension in the developing economies of the Asia-pacific region.
The market of Southeast Asian countries is one of the latent markets for abrasives.
Some of the major players in the global abrasive market are listed below:-
· Asahi Diamond Industrial Co.,
· CUMI
· Henkel AG & Co, KGaA
· Bosch Ltd.
· 3M
· Saint-Gobain
Based on the Asbestos market size 2021 research report, the Global Asbestos Market is expected to rise at a reasonable rate during the forecast period, between 2020 and 2026.
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The global Asbestos market is justly fierce which features regional and global companies that have constructed a powerful market competition.
Russia, by region, is the largest asbestos producer in the world, which accounts for 53% of global total. Other large asbestos producers are China, Brazil and Kazakhistan.
Increasing demand by the long-lived population will raise the market growth of asbestos in North America in coming years.
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Factors responsible for the growth of Global Asbestos Market:-
Asbestos is used in several products, this factor contributed to rise in the production and consumption of asbestos, especially in the United States.
Here is a list of several products that contain asbestos; roofing and flooring compounds, cement, insulation for electric wiring, Automotive and airplane clutches, Heat and acid-resistant gaskets and packing materials, Fillers and reinforcement for plasters, caulking compounds and paints, Car, truck and airplane brake pads and linings, seals and gaskets, etc.
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Major Asbestos players in the global market:-
· Johns Manville
· National Gypsum Corporation
· Owens Corning/Fibreboard Corp.
· W.R. Grace
· Amatex Corporation
· Pacor Incorporated, etc.
According to Refractories Market by Form, the Refractory market size is forecasted to grow at a CAGR of 3.4%, by value, during the forecasted period. The market is also projected to reach at USD 27.4 billion by the year of 2025.
Asia Pacific region is accounted for the largest share of the refractory market in 2020.
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Factors driving the refractories market globally:-
- increasing demand for infrastructure development
- mounting demand for consumer goods such as automobiles
- increasing use of refractories and the rising construction activities
- its growing demand from iron & steel industry
Major players in the Global Refractories Market:
· Saint-Gobain (France)
· RHI Magnesita (Austria)
· Corning Incorporated (US)
· Morgan Advanced Materials (UK)
· Shinagawa Refractories (Japan)
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Conclusion
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