The global green sic market was valued at $0.9 billion in 2021, and is projected to reach $2.8 billion by 2031, growing at a CAGR of 12.3% from 2022 to 2031.
High-purity silicon carbide is known as green silicon carbide. Compared to black silicon carbide, green silicon carbide crystals are more brittle. Technical ceramics, refractory materials, and electrical applications all frequently use green silicon carbide. In addition, it is utilized to grind hard alloys in situations when cool cutting is crucial. Green silicon carbide is produced from quartz sand, petroleum coke, and salt in an electric resistance furnace running at a high temperature. It is a semi-transparent green material with a strong cutting edge, high hardness, stable chemical properties, and superior thermal conductivity. Cemented carbides, optical glass, and ceramics are among the hard, brittle, and non-metallic materials that green silicon carbide can grind.
Increased demand for grinding and abrasive material from the automotive industry is driving the demand for green silicon carbide. Grinding wheels in the automotive industry are used for interior & exterior cleaning, polishing, smooth welds, and cleaning the insides of pipes. This high demand from various applications within the automobile industry is driving the demand for green silicon carbide. For non-engine parts and accessories including brakes, steering wheels, wheels, and axles, several abrasive products are employed. Brakes have a special abrasive with a non-directional scratch pattern fitting to collect tools. It is used to eliminate the brake squeal and reduce discoloration on heat-sensitive metals. The interior and outside of cars are prepared and polished with abrasive sandpaper. These factors are driving the demand for green silicon carbide in the automotive industry.
Metal fabrication business includes manufacturing, hardware & hand tools, building & construction, aerospace, and hardware manufacturing. Rapid industrialization and infrastructure development are expected to boost the sheet metal fabrication services market. Increased demand for metal fabrication is expected to boost the demand for green silicon carbide. In addition, the rise in population, especially in developing economies like India and China is a significant investment in infrastructure development, owing to which the demand for metal fabrication has increased. These factors are expected to boost the demand for green silicon carbide in the metal fabrication industry.
Mass production of abrasives requires large amounts of raw materials. Silicon carbide is obtained from renewable resources such as petroleum. The fluctuating price of petroleum makes it difficult for manufacturers to produce and offer the product at a reasonable price. In addition, growing environmental concern over pollution has forced the government to take strict action, and governments of various regions are putting stringent regulations on the use of green silicon carbide products. These factors are hindering the demand for green silicon carbide. Increasing demand from growing countries provides lucrative opportunities for the green silicon carbide market. There has been a constant increase in automobile, construction, electronics, and metal fabrication industries in developing countries like China, India, UAE, and Brazil. Thus, the growing automobile, electronics, and construction industries are expected to boost the demand for green silicon carbide in developing regions.
COVID-19 had a negative impact on the green SiC market owing to decreased demand from the automotive and mechanical industries. According to estimations, the metal fabrication business could have a $200 billion loss in 2020 compared to 2019. In fact, the slowing demand and long wait times to resume operations force metal producers to improve forecasting and act quickly in response to market changes. Additionally, a quick price drop may be caused by an oversupply of goods. Manufacturers are under pressure to increase productivity while lowering prices, and some are even considering closing down operations to prevent excess output and inventory buildup.
The green SiC market is segmented on the basis of application, end-use industry, and region. On the basis of application, the market is categorized into grinding, abrasion, lapping, and polishing. and others. On the basis of the end-use industry, the market is categorized into automotive, glass & ceramics, mechanical, electronics, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global green SiC market are Washington mills, Futong Industry Co. Limited, General Abrasive Srl, Shin-Etsu Chemical Co., Ltd, CHOKO CO., LTD., Fiven ASA, Zibo Jinjiyuan Abrasives Co. Ltd, Snam Abrasives Pvt. Ltd., Henan Qingjiang Industrial Co., Ltd., and U. S. Electrofused Minerals, Inc. Other players operating in the green SiC market are AGSCO Corp., Carborundum Universal Ltd., Gaddis Engineered Materials, Grindwell Norton Ltd., and SK Siltron Co., Ltd.
High-purity silicon carbide is known as green silicon carbide. Compared to black silicon carbide, green silicon carbide crystals are more brittle. Technical ceramics, refractory materials, and electrical applications all frequently use green silicon carbide. In addition, it is utilized to grind hard alloys in situations when cool cutting is crucial. Green silicon carbide is produced from quartz sand, petroleum coke, and salt in an electric resistance furnace running at a high temperature. It is a semi-transparent green material with a strong cutting edge, high hardness, stable chemical properties, and superior thermal conductivity. Cemented carbides, optical glass, and ceramics are among the hard, brittle, and non-metallic materials that green silicon carbide can grind.
Increased demand for grinding and abrasive material from the automotive industry is driving the demand for green silicon carbide. Grinding wheels in the automotive industry are used for interior & exterior cleaning, polishing, smooth welds, and cleaning the insides of pipes. This high demand from various applications within the automobile industry is driving the demand for green silicon carbide. For non-engine parts and accessories including brakes, steering wheels, wheels, and axles, several abrasive products are employed. Brakes have a special abrasive with a non-directional scratch pattern fitting to collect tools. It is used to eliminate the brake squeal and reduce discoloration on heat-sensitive metals. The interior and outside of cars are prepared and polished with abrasive sandpaper. These factors are driving the demand for green silicon carbide in the automotive industry.
Metal fabrication business includes manufacturing, hardware & hand tools, building & construction, aerospace, and hardware manufacturing. Rapid industrialization and infrastructure development are expected to boost the sheet metal fabrication services market. Increased demand for metal fabrication is expected to boost the demand for green silicon carbide. In addition, the rise in population, especially in developing economies like India and China is a significant investment in infrastructure development, owing to which the demand for metal fabrication has increased. These factors are expected to boost the demand for green silicon carbide in the metal fabrication industry.
Mass production of abrasives requires large amounts of raw materials. Silicon carbide is obtained from renewable resources such as petroleum. The fluctuating price of petroleum makes it difficult for manufacturers to produce and offer the product at a reasonable price. In addition, growing environmental concern over pollution has forced the government to take strict action, and governments of various regions are putting stringent regulations on the use of green silicon carbide products. These factors are hindering the demand for green silicon carbide. Increasing demand from growing countries provides lucrative opportunities for the green silicon carbide market. There has been a constant increase in automobile, construction, electronics, and metal fabrication industries in developing countries like China, India, UAE, and Brazil. Thus, the growing automobile, electronics, and construction industries are expected to boost the demand for green silicon carbide in developing regions.
COVID-19 had a negative impact on the green SiC market owing to decreased demand from the automotive and mechanical industries. According to estimations, the metal fabrication business could have a $200 billion loss in 2020 compared to 2019. In fact, the slowing demand and long wait times to resume operations force metal producers to improve forecasting and act quickly in response to market changes. Additionally, a quick price drop may be caused by an oversupply of goods. Manufacturers are under pressure to increase productivity while lowering prices, and some are even considering closing down operations to prevent excess output and inventory buildup.
The green SiC market is segmented on the basis of application, end-use industry, and region. On the basis of application, the market is categorized into grinding, abrasion, lapping, and polishing. and others. On the basis of the end-use industry, the market is categorized into automotive, glass & ceramics, mechanical, electronics, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global green SiC market are Washington mills, Futong Industry Co. Limited, General Abrasive Srl, Shin-Etsu Chemical Co., Ltd, CHOKO CO., LTD., Fiven ASA, Zibo Jinjiyuan Abrasives Co. Ltd, Snam Abrasives Pvt. Ltd., Henan Qingjiang Industrial Co., Ltd., and U. S. Electrofused Minerals, Inc. Other players operating in the green SiC market are AGSCO Corp., Carborundum Universal Ltd., Gaddis Engineered Materials, Grindwell Norton Ltd., and SK Siltron Co., Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the green sic market analysis from 2021 to 2031 to identify the prevailing green sic market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the green sic market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional, as well as global green, sic market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Abrasion
- Lapping
- Polishing
- Others
- Grinding
By End-Use Industry
- Automotive
- Glass and Ceramics
- Mechanical
- Electronics
- Others
By Region
- North America
- U. S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Frnace
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Futong Industry Co. Limited
- Washington Mills
- General Abrasivi Srl.
- Shin-Etsu Chemical Co., Ltd.
- CHOKO CO., LTD.
- Fiven ASA
- Zibo Jinjiyuan Abrasives Co. Ltd.
- Snam Abrasives Pvt. Ltd.
- Henan Qingjiang Industrial Co., Ltd.
- U. S. Electrofused Minerals, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Value Chain Analysis
3.9. Key Regulation Analysis
3.10. Patent Landscape
CHAPTER 4: GREEN SIC MARKET, BY APPLICATION
4.1 Overview
4.1.1 Market size and forecast
4.2 Grinding
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Abrasion
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Lapping
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
4.5 Polishing
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market share analysis by country
4.6 Others
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market share analysis by country
CHAPTER 5: GREEN SIC MARKET, BY END-USE INDUSTRY
5.1 Overview
5.1.1 Market size and forecast
5.2 Automotive
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Glass and Ceramics
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4 Mechanical
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5 Electronics
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
5.6 Others
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market share analysis by country
CHAPTER 6: GREEN SIC MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Application
6.2.3 North America Market size and forecast, by End-Use Industry
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Application
6.2.4.1.3 Market size and forecast, by End-Use Industry
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Application
6.2.4.2.3 Market size and forecast, by End-Use Industry
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Application
6.2.4.3.3 Market size and forecast, by End-Use Industry
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Application
6.3.3 Europe Market size and forecast, by End-Use Industry
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Application
6.3.4.1.3 Market size and forecast, by End-Use Industry
6.3.4.2 UK
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Application
6.3.4.2.3 Market size and forecast, by End-Use Industry
6.3.4.3 Frnace
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Application
6.3.4.3.3 Market size and forecast, by End-Use Industry
6.3.4.4 Spain
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Application
6.3.4.4.3 Market size and forecast, by End-Use Industry
6.3.4.5 Italy
6.3.4.5.1 Key market trends, growth factors and opportunities
6.3.4.5.2 Market size and forecast, by Application
6.3.4.5.3 Market size and forecast, by End-Use Industry
6.3.4.6 Rest of Europe
6.3.4.6.1 Key market trends, growth factors and opportunities
6.3.4.6.2 Market size and forecast, by Application
6.3.4.6.3 Market size and forecast, by End-Use Industry
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Application
6.4.3 Asia-Pacific Market size and forecast, by End-Use Industry
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Application
6.4.4.1.3 Market size and forecast, by End-Use Industry
6.4.4.2 India
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Application
6.4.4.2.3 Market size and forecast, by End-Use Industry
6.4.4.3 Japan
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Application
6.4.4.3.3 Market size and forecast, by End-Use Industry
6.4.4.4 South Korea
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Application
6.4.4.4.3 Market size and forecast, by End-Use Industry
6.4.4.5 Australia
6.4.4.5.1 Key market trends, growth factors and opportunities
6.4.4.5.2 Market size and forecast, by Application
6.4.4.5.3 Market size and forecast, by End-Use Industry
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Key market trends, growth factors and opportunities
6.4.4.6.2 Market size and forecast, by Application
6.4.4.6.3 Market size and forecast, by End-Use Industry
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Application
6.5.3 LAMEA Market size and forecast, by End-Use Industry
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Application
6.5.4.1.3 Market size and forecast, by End-Use Industry
6.5.4.2 Saudi Arabia
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Application
6.5.4.2.3 Market size and forecast, by End-Use Industry
6.5.4.3 South Africa
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Application
6.5.4.3.3 Market size and forecast, by End-Use Industry
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Key market trends, growth factors and opportunities
6.5.4.4.2 Market size and forecast, by Application
6.5.4.4.3 Market size and forecast, by End-Use Industry
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 washington mills
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Futong Industry Co. Limited
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 General Abrasivi Srl.
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Shin-Etsu Chemical Co., Ltd.
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 CHOKO CO., LTD.
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Fiven ASA
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Zibo Jinjiyuan Abrasives Co. Ltd
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Snam Abrasives Pvt. Ltd.
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Henan Qingjiang Industrial Co., Ltd
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 U. S. Electrofused Minerals, Inc.,
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Green SiC Market,' the green sic market was valued at $0.9 billion in 2021, and is estimated to reach $2.8 billion by 2031, growing at a CAGR of 12.3% from 2022 to 2031.Green silicon carbide is an extremely hard, manmade mineral that possesses high thermal conductivity and high strength at elevated temperatures (at 1000°C, SiC is 7.5 times stronger than Al2O3). green SiC has an elastic modulus of 410 GPa, is unaffected by temperatures up to 1600°C, and dissociates at 2600°C rather than melting at normal pressures. The green silicon carbide is used for many applications like honing stones, blasting, and compounds, ideal for use in vitrified & resinoid grinding wheels, lapping, polishing, and many others. In addition, green silicon carbide is ideal for many applications, including wear-resistant nozzles, seals and rings, coatings, heating elements, metal-matrix composites, kiln furniture, and body & vehicle armor.
Green SiC is harder than black SiC. green SiC is often the media of choice when it comes to wire sawing. The micronization process of manufacturing green SiC is controlled by a computer. Then the material is water separated. This produces a very tight particle size distribution, as well as a reduction in fines, as preferred for accurate wire sawing applications.
Grinding is a metal-cutting operation, which is performed by means of a rotating wheel. The tool used for this process is the grinding wheel. Grinding wheels cut metals with different sizes, shapes, and efficiency and are also used to remove rough surfaces and improve the surface finish of the workplace. The most typical piece of machinery in the manufacturing sector is a grinding wheel. Grinding wheels are perfect for a variety of materials and can grind tools very hard (steel and other metals). Grinding wheels offer a productive technique for manufacturers to polish and shape metals and other materials. Today, grinding wheels can be found in almost every production facility where they are used for a variety of tasks, including cutting steel and masonry blocks, sharpening knives, drill bits, and other equipment, and cleaning and preparing surfaces for plating or painting.
The need for machine tools in the manufacturing, industrial, and automotive industries has had an impact on their production. Rapid industrialization is the cause of the expansion of numerous sectors in rising economies. Construction sites, tool stores, medical manufacturing facilities, and car shops frequently have grinding wheels on hand as necessary work gear. Market demand for grinding wheels has skyrocketed as a result of growing industrialization. As the largest users of grinding wheels, various industries including aerospace, steel manufacturing, and fabrication plants, and the oil and gas industry are anticipated to drive up demand for grinding wheels during the forecast period, driving up demand for green silicon carbide. The major driver of the global grinding wheels is the flourishing aerospace and automobile industry. Abrasive grinding wheels produce a higher polish and are simpler to use, they are widely employed in the automotive industry to manufacture all main parts, including crankshafts, cylinder blocks, transmission cases, connecting rods, gearboxes, and brakes. These factors are further expected to boost the demand for green silicon carbide.
Research and development activities along with technological advancements have increased over the last few years to make the bonding process more efficient. Advances in abrasive grinding materials/processes make it a cost-effective alternative to traditional machining processes in manufacturing sectors. With design upgrades as per specific application requirements, manufacturers are investing heavily in the grinding wheels market.
The constant demand from the oil and gas industries is notably driving the grinding wheels. The construction and repair of upstream, and downstream components in the production of oil and gas are just a few examples of the many uses for grinding wheels in the oil and gas industry. Upstream operations have begun to pick up steam as crude oil prices have started to rebound. These factors boost the demand for green silicon carbide for grinding applications.
The major challenge hindering the demand for grinding wheels is the operational challenge associated with grinding wheels. Abrasive grinding produces heat when removing metal from a surface to provide a clean finish, which highlights the need of researching its impacts. The influence of heat on the grinding wheel results in the development of grinding cracks. The accumulation of these grinding cracks necessitates the replacement of grinding wheels, which raises the cost of operation and the space component. High temperatures reached during the grinding process can trigger specific reactions that can affect the workpiece. Examples include surface discoloration brought on by the creation of oxide and severe chemical damage. Such operational challenges are hindering the demand for grinding wheels, thus, restricting the growth of the green silicon carbide market.
The green SiC market is segmented on the basis of application, end-use industry, and region. On the basis of application, the market is categorized into grinding, abrasion, lapping, and polishing. and others. On the basis of the end-use industry, the market is categorized into automotive, glass & ceramics, mechanical, electronics, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global green SiC market are Washington mills, Futong Industry Co. Limited, General Abrasive Srl, Shin-Etsu Chemical Co., Ltd, CHOKO CO., LTD., Fiven ASA, Zibo Jinjiyuan Abrasives Co. Ltd, Snam Abrasives Pvt. Ltd., Henan Qingjiang Industrial Co., Ltd., and U.S. Electrofused Minerals, Inc. Other players operating in the green SiC market are AGSCO Corp., Carborundum Universal Ltd., Gaddis Engineered Materials, Grindwell Norton Ltd., and SK Siltron Co., Ltd.
Key findings of the study
Depending on the application, the grinding segment is expected to grow at a CAGR of 12.9%, in terms of revenue, during the forecast period.Depending on the end-use industry, the automotive industry is expected to grow at a CAGR of 13.0%, in terms of revenue, during the forecast period.
Region-wise, Asia-Pacific garnered a share of 55.1% in 2021 in terms of revenue and is projected to grow at a CAGR of 12.7%.
Companies Mentioned
- Futong Industry Co. Limited
- Washington Mills
- General Abrasivi Srl.
- Shin-Etsu Chemical Co. Ltd.
- Choko Co. Ltd.
- Fiven Asa
- Zibo Jinjiyuan Abrasives Co. Ltd.
- Snam Abrasives Pvt. Ltd.
- Henan Qingjiang Industrial Co. Ltd.
- U.S. Electrofused Minerals, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 320 |
| Published | October 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 0.9 billion |
| Forecasted Market Value ( USD | $ 2.8 billion |
| Compound Annual Growth Rate | 12.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
