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Glass Abrasives Market to Gain Considerable Traction by 2027

Post Time:Nov 23,2020Classify:Industry NewsView:958

The global glass abrasives market size is projected to undergo dynamic expansion in the near future owing to the prolific growth of the construction industry, shares Fortune Business Insights™ in its report, titled Glass Abrasives Market Size, Share & Industry Analysis, By Product (Extra Coarse Size, Medium Size, Fine size), By Application (Steel, Construction, Automobiles, Others) and Regional Forecast, 2020-2027. Recent data analysis released by Oxford Economics and Global Construction Perspectives showed that the volume of construction output will grow by 85%, hitting a value of USD 15.5 trillion by 2030. Leading these trends and accounting for 57% of the total increase in construction activities will be China, India, and the US. Furthermore, even amid the current coronavirus pandemic, with a large chunk of construction projects stalled worldwide, Oxford Economics predicts that the construction industry will still register a growth rate of 35% till 2030 and reach USD 5.8 trillion. This relatively unvarying growth trajectory of the construction sector will ensure a steady demand for glass abrasives as these materials are extensively utilized to clean, polish, and create smooth surfaces.

The unpredictable eruption of the COVID-19 pandemic and its unhindered rampage worldwide has brought the global economy on the precipice of an unprecedented recession. Businesses are stumbling due to the sharp economic downturn, with some suffering more than the others. We aim to equip businesses with quantitative and qualitative impact analysis of the current pandemic on different markets, based on our expertise and experience in market intelligence.

 

List of Key Players Covered in the Glass Abrasives Market Report:

  • TRU Abrasives

  • Saint-Gobain Group

  • GlassOx Abrasives

  • Marco Group International

  • Strategic Materials

  • Harsco Minerals International

  • Vitro Minerals

 

Restraining Factor

Health Hazards Associated with Abrasives May Deflate Market Growth

The glass abrasives market growth may get stalled owing to the potential risks to workers’ health posed by abrasive blasting. For example, common abrasives used in various industries include crushed glass, crystalline silica sand, glass beads, coal slag, and iron ore. Most of these materials contain toxic substances such as lead, cadmium, and beryllium. When these materials are propelled at high velocities on solid surfaces such as steel, they get broken down into particulates sized 5 microns or less.

At such small sizes, these harmful materials can easily penetrate and travel throughout the human body, damaging organs and causing all sorts of other problems. Crystalline silica, for instance, can cause chronic obstructive pulmonary disorder (COPD), lung cancer, silicosis, and kidney disease. Similarly, lead can trigger complicated conditions such as peripheral neuropathy, anemia, interstitial kidney fibrosis, and poor semen quality. Industrial workers that are exposed to these materials for prolonged periods are at high risk of developing the aforementioned health problems, which can create hurdles for this market.

 

Highlights of the Report:

  • Competitive insights into the factors driving and constraining market growth;

  • Detailed & exhaustive analysis of the market segments;

  • Careful examination of the regional dynamics impacting the market; and

  • Comprehensive profiling and study of the key market players and their strategies.

 

Regional Insights

Asia Pacific to Lead the Way; Europe to Present Vast Growth Opportunities

Among regions, Asia Pacific is slated to lead the glass abrasives market share in the forthcoming years on account of the exponential growth of the region’s construction industry, especially in India and China. Construction companies are rapidly adopting novel materials and technologies to deliver high-quality and long-lasting surfaces to owners and buyers of commercial and residential spaces, which are feeding the regional market growth. Europe is expected to generate attractive opportunities for market players owing to the robust automotive industry in the region, particularly in Germany, France, the UK, and Italy. The market in North America, on the other hand, is set to gain prominence as a result of the strong presence of the well-established abrasives industry.

 

Competitive Landscape

Marco Group International to Occupy a Prominent Market Position

US-based abrasives leader, Marco Group International, has occupied a prominent position in the glass abrasives market owing to its strong product portfolio, diversified offerings, and global presence. The company has been developing path-breaking blasting technologies and has recently expanded into new territories as well as engaged in strategic merger & acquisition activities.

 

Industry Developments:

  • March 2020: Marco Group International and APE Companies jointly announced that the two companies will be merging to create a dominant organization to distribute abrasives, surface preparation, and safety solutions across the US and Canada.

  • August 2019: Marco Group International announced the successful acquisition of Canada-based Bell & McKenzie Co. Ltd. The takeover will allow Marco Group to leverage Bell & McKenzie’s expertise in the packaging and distribution of specialty abrasives and blast equipment.   

Source: https://www.globenewswire.com/Author: shangyi

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