VALLEY COTTAGE, N.Y. – The market of mass finishing consumables is primarily driven by growth of various industries. In automotive and aerospace sectors, metal components require finishing in tandem with timely maintenance for effective working. In industrial domain, machine operators rely on mass finishing consumables to enhance shelf life of parts and equipment. Furthermore, manufacturers are turning to e-Commerce channels for expanding their customer base.
The East Asian mass finishing consumables market reflects plethora of opportunities on grounds of growing aircraft and automobile production. In its new business intelligence study, FMI finds that global mass finishing consumables market is estimated to exceed US$180 Mn in 2019, and is anticipated to grow at a moderate CAGR of ~5% over forecast period (2019-2029).
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Ceramic Remains In-Demand, Plastic Follows Closely
Non-metallic abrasives, such as ceramic, and plastic, continue to lead mass finishing consumables market over next decade owing to their applicability in both wet and dry applications. In addition, ceramic and plastic provide greater contact area during finishing process as compared to their counterparts. In East Asia, revenue generation of ceramic and plastic has been maximum.
Yet, ceramic is relatively inexpensive than plastic, as such, ceramic holds a greater market share. This study reveals that demand for plastic is expected to decline in next few years, primarily due to anti-plastic regulations. Although steel is significantly recyclable, high costs associated with the material are resulting in moderate adoption.
Preview Analysis of 2019 Analysis and Review of Mass Finishing Consumables Market by Media – Ceramic, Plastic, Steel, and Aluminium Oxide for 2019 – 2029:https://www.futuremarketinsights.com/reports/mass-finishing-consumables-market
Sales Upsurge in Automotive and Machine Tooling Industries
Automotive industry will remain prime consumer of mass finishing consumables on back of rising production of passenger vehicles, and commercial vehicles. FMI reveals that adoption of mass finishing consumables in automotive industry is poised to generate significant revenues in next two years. In addition, sales of mass finishing consumables in automotive industry hold about a fourth of market share.
On the other hand, adoption of mass finishing consumables in machine tooling industry is expected to grow moderately owing to its modest growth. In addition, there are strong chances that increasing infrastructure projects in developing regions will result in noteworthy demand for mass finishing consumables from construction and general manufacturing industries.
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Analysts at FMI suggests that “Mass finishing consumables market are majorly propelled by surging demand for surface finishing from automotive, aerospace, and general and industrial engineering verticals. New market players are targeting developing regions for enhanced footprint owing to their flourishing manufacturing sector.”
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