According to TechSci Research report, “India Abrasive Market By Type (Bonded, Coated, Super), By Material (Natural, Synthetic), By End-User Industry (Automotive, Metal Fabrication, Machinery, Electronic, Construction, Others), By Company, By Region Forecast & Opportunities, 2017-2027,” India abrasives market is expected to grow at an impressive CAGR of 6.35% in the forecast period, 2022-2027 due to the launch of government policies and schemes such as the “Make in India” initiative which aims to promote domestic manufacturing and production that boosts the local industries and increases the domestic production is the driving factor for the growth of the abrasives market in the forecast period. High demand from the prominent end-user industries including automotive, steel, auto components, general metal fabrication, among others is expected to contribute to the India abrasive market growth.
Increasing demand for machinery and metal fabrication industries in the country is expected to influence the abrasive’s market growth. Increasing industrialization across the country and the growth of the industries such as automotive, machinery, and metal fabrication industries, among others to satisfy the requirements of the growing population is contributing significantly to the abrasives market growth. The surge in the preference of the consumers for vehicle ownership to ensure safety and enhance the safety of the consumers is expected to fuel the demand for passenger and commercial vehicles which in turn is expected to accelerate the abrasives market growth in the next five years.
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