Market Size of Bonded Abrasives Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bonded Abrasives Market Analysis
The bonded abrasives market is projected to register a CAGR of over 5% during the forecast period (2022-2027).
The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, several countries across the world went into lockdown to curb the spreading of the virus. All the construction and manufacturing activities were halted due to supply chain disruptions and labor shortages. This negatively impacted the market. However, the condition is expected to recover in 2021, thereby driving the market studied during the forecast period.
- Over the short term, the rapidly growing construction sector in Emerging Economies is augmenting the growth of the market.
- On the flip side, the pollution in the manufacturing process of bonded abrasives is likely to hinder the market's growth.
- Increasing demand for bonded abrasives for high-speed applications is likely to act as an opportunity for the market.
- The Asia-pacific region is expected to account for the largest share during the forecast period.
