Latin America Abrasives Market Poised for Robust Growth, forecasted 2023-28
MarkNtel Advisors has released its latest report highlighting strong growth in The Latin America Abrasives Market is projected to grow at a considerable CAGR during the forecast period, i.e., 2023-28.
Report Coverage
This report offers a comprehensive analysis of the Latin America Abrasives Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2022
- Forecast Years: 2023-28
- Historical Years: 2018-21
Latin America Abrasives Market Overview
Most of the market expansion across the region can be accredited to the countries like Argentina, Brazil, and Mexico owing to the growing automotive, aerospace, construction, and furniture industries here. It is primarily because these materials exhibit large-scale adoption in automotive components manufacturing, repair, and fabrication applications that include collision repair, mechanical repair, and custom paint facilities. Likewise, the utilization of abrasives in woodworking & fabrication for furniture, kitchen cabinets, and others has furthered the market ascension across the region. The abrasives application also involves metal fabrications, including light sheet metal fabrications, metal components, and metal casework. Other industries like Electrical Equipment (E&E) and machinery & electronics, among others, shall also demonstrate a rise in the demand for abrasives for grinding & polishing applications and further boost the industry across Latin American countries.
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Latin America Abrasives Market Segmentation Outlook
The Latin America Abrasives is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Type
- Coated
- Bonded
- Super
By Raw Material
- Synthetic
- Natural
By End User
- Construction
- Industrial
- Aerospace
- Metal Fabrication
- Automotive
- Electrical & Electronics
By Country
- Brazil
- Argentina
- Mexico
- Chile
- Colombia
- Rest of Latin America
Latin America Abrasives Market Driver
Thriving Automotive Sector Pushes the Abrasive Industry– The market is likely to gain momentum with the wide application of abrasives demonstrated by the Automotive industry in recent years. These applications include repairing and maintaining autobody, interiors, and accessories. Abrasives also aid in sizing engine parts, deburring, smoothening welds, cleaning pipe interiors, and roughening or smoothening surfaces and edges. These materials, particularly coated abrasives, find broader applications across the automotive industry for grinding and finishing purposes. Thus, with expanding automotive sector with the substantial surge in car sales across Brazil, Argentina, and Mexico, the abrasives market is likely to thrive in the coming years.
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Top Latin America Abrasives Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies 3M Company, AA Argentine Abrasives SAIC, CARSIL ARGENTINA, German Abrasives SAS, Hilti Corporation, Klingspor Abrasivos SA, Robert Bosch GMBH, Saint-Gobain Abrasives, Inc. (Argentina), Telstar Abrasivos Ltda, Unibras, VSM Latin America SAS.Others as key players shaping the market landscape.
Latin America Abrasives Market News
- June, 2022: Saint-Gobain Abrasives, Inc. announced its Norton Abrasive Process Solutions (APS) Program out of its grinding technology center. With this program, the company seeks to test and optimize new abrasive grinding and polishing techniques for customers, try out new & automated processes, and improve the quality and throughput for targeted applications.
- September 2021: Norton|Saint-Gobain Abrasives launched the new BlueFire zirconia coated abrasives based on a fourth-generation zirconia abrasive grain, which combines the latest innovations and optimization of grain shape, fusion processing, and composition. In order to improve the resharpening and metal removal rates, the zirconia-alumina grain composition and shape, are finely tuned.
- April 2021: The Vereinigte Schmirgel- und Maschinen-Fabriken (VSM) AG unveiled AK890Y abrasive belt from the VSM ACTIROX technology family. The product is likely to hit new benchmarks in terms of processing super alloys, stainless steels, and carbon steels when it comes to stock removal and grinding speeds.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2028?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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