Middle East & Africa Abrasives Market Size & Outlook
Middle East & Africa abrasives market, 2017-2028 (US$M)
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MEA abrasives market highlights
- The MEA abrasives market generated a revenue of USD 1,863.1 million in 2020.
- The market is expected to grow at a CAGR of 2.9% from 2021 to 2028.
- In terms of segment, bonded was the largest revenue generating product in 2020.
- Coated is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2020 | USD 1,863.1 million |
| Market revenue in 2028 | USD 2,338.1 million |
| Growth rate | 2.9% (CAGR from 2020 to 2028) |
| Largest segment | Bonded |
| Fastest growing segment | Coated |
| Historical data covered | 2017 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Coated, Bonded, Other Products |
| Key market players worldwide | 3M Co, Bosch, Henkel AG & Co KGaA, Compagnie de Saint-Gobain SA, Asahi Diamond Industrial Europe, sia Abrasives Holding, Deerfos, CUMI America, TYROLIT Group |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.4% of the global abrasives market in 2020.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 27,208.5 million by 2028.
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Abrasives Market Scope
Abrasives Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa abrasives market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to abrasives market will help companies and investors design strategic landscapes.
Bonded was the largest segment with a revenue share of 44.05% in 2020. Horizon Databook has segmented the Middle East & Africa abrasives market based on coated, bonded, other products covering the revenue growth of each sub-segment from 2017 to 2028.
Developing economies in the region are expected to propel market growth over the forecast period. The region holds a strong position in the global oil & gas production market. Infrastructural developments in oil & gas sector are anticipated to benefit abrasives demand in the region. The region struggles to attract FDIs owing to various constraints such as climate weaknesses and geopolitical tensions. Besides, the region was hard hit by the COVID-19 pandemic, which further impacted economic growth.
However, with manufacturers expanding and setting up new manufacturing plants in certain countries of the region, the demand for abrasives is expected to propel over the coming years. The GCC construction sector is anticipated to witness strong growth on account of increasing oil prices and resurgence of the economy.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa abrasives market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa abrasives market from 2017 to 2028, including revenue numbers, major trends, and company profiles.
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Middle East & Africa abrasives market
Middle East & Africa Abrasives Market Outlook Share, 2020 & 2028 (US$M)
Middle East & Africa abrasives market
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